Latest Articles in Management

Vince Holding Q1 sales hit by Rebecca Taylor wind-down, but losses narrow

US fashion group Vince Holding Corp managed to narrow its losses in the first quarter despite its sales dropping year-on-year as the wind-down of its Rebecca Taylor hit its top line. The company announced last September it would be closing down its Rebecca Taylor business to focus its resources on its namesake Vince brand. Sales in the three...

Management

Designer Brands Q1 comparable sales down 10.4 percent

Designer Brands has reported a 10.7 percent decrease in net sales to 742.1 million dollars in the first quarter, while comparable sales decreased by 10.4 percent. The company said gross profit fell to 237.7 million dollars from 275.7 million dollars and gross margin was 32 percent compared to 33.2 percent for the same period last year. Reported...

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Rent the Runway welcomes 10.6 percent revenue increase for Q1 2023

Rent the Runway (RTR) has outlined its financial results for the first quarter ended April 30, 2023, where it viewed improvements all round. The rental platform reported a 10.6 percent increase YoY in its revenue, up from 67.1 million dollars in the same period last year to 74.2 million dollars. Its active subscribers count also rose 7.6 percent...

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Oxford Industries posts upbeat Q1 results

Oxford Industries reported net sales in the first quarter increased 19 percent to 420 million dollars. The company having Tommy Bahama, Lilly Pulitzer and Johnny Was under its portfolio, said EPS on a GAAP basis increased to 3.64 dollars compared to 3.45 dollars in the first quarter of fiscal 2022. On an adjusted basis, EPS increased to 3.78...

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Prada and Zegna acquire minority stake in Luigi Fedeli e Figlio

Italian fashion groups Prada and Ermenegildo Zegna have acquired a minority stake in knitwear company Luigi Fedeli e Figlio as a strategic investment to secure Italian excellence in fine yarns. In a statement, Prada and Zegna confirmed they will each acquire a 15 percent stake in the Italian knitwear company, while Luigi Fedeli, the current...

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Zara-owner Inditex reports sales and profit growth

Inditex sales grew 13 percent in the first quarter to 7.6 billion euros, showing positive development both in stores and online. Sales in constant currency grew 15 percent. The company said in its Q1 interim results that sales were positive in all geographical areas and in all concepts. In the first quarter, Inditex opened stores in 17 markets...

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G-III ups FY outlook, announces licensing deal with Halston

G-III Apparel Group has upped its full-year revenue and profit outlook after exceeding both its top and bottom line guidance in the first quarter. Net sales for the first quarter ended April 30 dropped 11.9 percent to 606.6 million dollars, while net income narrowed to 3.2 million dollars from 30.6 million dollars. The group, whose portfolio...

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N Brown: Revenue and profit decline amid challenging market conditions

N Brown Group revenue for the year to March 4 2023 fell 5.3 percent to 677.5 million pounds, reflecting challenging online market conditions. The company said that product revenue declined 6.9 percent, with strategic brands down 5.3 percent. Lower retail sales, net of higher customer credit penetration, led to lower FS revenue, down 2.4 percent....

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Tilly’s reports drop in Q1 sales, swings to loss

US retailer Tilly’s has reported a drop in sales and a net loss in the first quarter of the year as its young shoppers were impacted by inflation. The company generated net sales of 123.6 million dollars in the three months to April 29, down 15.2 percent from the same quarter a year earlier. Comparable net sales, which includes both physical...

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Lululemon reports 24 percent revenue boost, driven by international sales

Sportswear retailer Lululemon has reported strong results for the Q1 period of fiscal year 2023, with its net revenue up 24 percent hitting two billion dollars. The rise was particularly driven by international sales, for which revenue had increased 60 percent compared to 17 percent in North America. Comparable store sales also rose 16 percent,...

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Nordstrom Q1 profits narrow, reiterates FY adjusted EPS outlook

Nordstrom has reaffirmed its full-year revenue and adjusted EPS outlook despite weaker sales in the first quarter as the company was impacted by falling consumer demand and the impact of the wind-down of its Canadian operations. Total net sales at the US department store chain fell 11.6 percent to 3.06 billion dollars in the quarter ended April...

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Wolverine Worldwide taps new president amid wider leadership changes

Wolverine Worldwide has announced a number of changes to its leadership team, including Chris Hufnagel as new company president. Company veteran Hufnagel has spent the last 14 years at the business, most recently serving as president of the company’s Active Group, and previously serving as global brand president of Cat Footwear. Hufnagel has...