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Management

Manchester-based luxury retailer Hervia bought by investment firm

Luxury fashion retailer Hervia has been acquired by Rami Cassis, the founder of investment firm Parabellum Investments. Cassis said he plans to take Hervia into its next phase of expansion by exploring new segments such as childrenswear, and launching new partnerships with emerging designers in the UK, France, and Italy. He also plans to bolster...

Management

N Brown posts growth across strategic brands

N Brown Group revenue declined 1.8 percent to 715.7 million pounds for the year to February 26, 2022, as a result of a 0.6 percent decline in total product revenue and a 4 percent decline in financial services revenue. However, adjusted pre-tax profit of 43.1 million pounds was up 46.6 percent from the previous year’s 29.4 million pounds and...

Management

Burberry sales and profit up, outlook depends on China recovery

For the 53 weeks ended April 2, 2022, Burberry Group delivered revenue growth of 23 percent at CER to 2,826 million pounds. Comparable store sales grew 18 percent, with underlying performance driven by full-price sales partially offset by the exit of markdowns in mainline and digital stores. Burberry is maintaining its guidance of high...

Management

British label Amanda Wakeley set for liquidation

The eponymous fashion brand of British designer Amanda Wakeley is reportedly set to be liquidated after falling into administration in May 2021. Joint administrators from Smith & Williamson were appointed last year as the brand’s trading was hit hard by the pandemic, in particular its Mayfair store and concessions which were forced to shut in...

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Celtic & Co. posts 21 percent sales growth

British sustainable fashion brand, Celtic & Co. recorded sales of 19.3 million pounds in the financial year ending January 30, 2022, an increase of 21 percent driven by a strong response to its collections in the UK and internationally. The company said in a release that the sales growth was a continuation to an exceptional 2020, which saw the...

Report

Bath & Body Works lowers earnings outlook

Bath & Body Works, Inc. reported net sales of 1.450 billion dollars for the first quarter ended April 30, 2022, a decrease of 1 percent compared to the first quarter ended May 1, 2021. For fiscal 2022, the company is forecasting earnings per diluted share between 3.80 dollars and 4.15 dollars compared to 4.51 dollars per diluted share in 2021...