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Management

Designer Brands lowers profit outlook

US fashion retailer Designer Brands has cut its full-year profit outlook as it saw a slight uptick in sales in the third quarter of the year. Net sales in the three months to October 29 rose 1.4 percent to 865 million dollars. On a comparable basis, sales were up 3 percent. Net income in the third quarter fell to 45.2 million dollars from 80.2...

Management

Lands' End cuts full-year outlook after swinging to Q3 loss

US fashion and home decor retailer Lands' End has cut its guidance for the current year after falling into the red in the third quarter. The company swung to a net loss of 4.7 million dollars in the three months to October 28 from a profit of 7.4 million dollars the prior year. Gross margin decreased approximately 440 basis points to 40 percent...

Management

Victoria’s Secret reports drop in Q3 profit

Victoria’s Secret has reported a drop in profit in the third quarter of the year, but still beat expectations. The intimates specialty retailer made a net income of 24 million dollars in the three months to October 29, down from 75 million dollars a year earlier. Its profit was above the high-end of its previously communicated guidance. It came...

Management

Next acquires majority stake in Joules for 34 million pounds

British clothing retailer Next has acquired a majority stake in struggling heritage brand Joules through a newly formed company for 34 million pounds in cash. In a regulatory filing, Next said it has partnered with Joules’ founder Tom Joule to acquire the company out of administration. The company has already acquired the current Joules head...

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