Latest Articles in Management

Mothercare swings to FY loss, expects to complete refinancing 'shortly'

Maternity and childrenswear specialist Mothercare has reported a loss in its most recent financial year ended March 25. The group, which has undergone a major transformation in recent years, made a net loss of 0.1 million pounds compared to a profit of 12.1 million pounds the prior year. That came as group turnover dropped 11 percent to 73.1...

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Next raises FY profit outlook again as H1 sales beat expectations

British fashion retailer Next has raised its full-year profit guidance again after posting better-than-expected full-price sales in the first half of the year. The high street giant now expects a full-year pre-tax profit of 875 million pounds compared to its previous guidance of 845 million pounds. It would represent a year-on-year increase of...

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JD Sports hails strong H1, on track to meet FY earnings outlook

UK sportswear giant JD Sports said Thursday it expects to meet its full-year profit target as its customers remain “resilient” against a backdrop of macro-economic challenges. The company expects to make a profit before tax and adjusted items of 1.04 billion pounds in the 12 months to February 3, 2024, which would represent year-on-year growth...

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Poeticgem Group acquires Little Mistress

Poeticgem Group, a retail design and sourcing solutions company, has acquired the brand IP of womenswear and occasionwear brand Little Mistress to expand its portfolio. Under the terms of this agreement, Poeticgem, part of the PDS Group, a global fashion infrastructure company with end-to-end, customised solutions across the fashion value chain,...

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Quiz reports 15 percent drop in sales, warns of loss

As inflationary pressures continue to take hold of UK high streets, it appears that fast fashion retailer Quiz is one of the many struggling to keep afloat as sales for the 2023 summer period took a hit. The company provided an update on trading between April 1 and August 31, during which time its overall sales had dropped by 15.3 percent to 37...

Management

Mytheresa reports strong Q4 GMV and sales growth, but swings to loss

Mytheresa has reported a strong increase in GMV and sales in the fourth quarter and full year as “big spending” customers continued to drive growth. The German luxury retailer posted a 13 percent increase in gross merchandise value (GMV) to 222.2 million euros in the fourth quarter ended June 30, while net sales increased 16.5 percent to 203.8...

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John Lewis Partnership narrows H1 loss, but turnaround timeline extended

John Lewis Partnership, which comprises department store chain John Lewis and supermarket Waitrose, expects its turnaround strategy to be delayed by two years despite narrowing losses in the first half of the year. In the six months to July 29, the employee-owned company made a loss before tax and exceptional items of 57.3 million pounds from a...

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THG: H1 losses widen as revenue falls 9.3 percent

British retail giant THG has reported an almost 10 percent drop in revenue and widening losses in the first half of the year as it continued to cut down on loss-making categories. The group, which owns a raft of fashion, beauty, and nutrition brands including Lookfantastic and Myprotein, reported a 9.3 percent drop in revenue to 969.3 million...

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Zegna Group profits widen, revenue up 23.9 percent

Thom Browne parent Zegna Group saw its profits more than double in the first half of the year. The group made a profit of 52.1 million euros in the six months ended June 30, up from 21 million euros the prior year. That came as revenue jumped 23.9 percent to 903.1 million euros, with the group citing an “outstanding” performance in the US and...

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German footwear retailer Birkenstock files for New York IPO

Footwear retailer Birkenstock has confirmed media speculation that it plans to launch an initial public offering (IPO). The German company announced Tuesday plans to float on the New York Stock Exchange under the ticker ‘BIRK’. The company has publicly filed a registration statement on Form F-1 with the US Securities and Exchange Commission...

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Zara owner Inditex posts jump in H1 profit, sales

Spanish fashion giant Inditex has reported robust revenue growth and a 40 percent increase in profit in the first half, ahead of expectations. The group, whose portfolio includes brands Zara, Massimo Dutti, and Pull & Bear, generated revenue of 16.9 billion euros in H1, up 13.5 percent from the same period a year earlier, with the group citing “...

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Neso Brands invests in French eyewear label Le Petit Lunetier

Swedish-led, Singapore-based Neso Brands, part of the Lenskart Group, has acquired a significant stake in Paris-based omnichannel eyewear brand Le Petit Lunetier after investing 4 million US dollars. The investment marks Neso Brand’s first in Europe and marks a major milestone venture as it continues to strengthen its portfolio of international...