Latest Articles in Management

Movado Group cuts forecast reflecting continued challenging environment

Movado Group’s second quarter net sales decreased by 0.7 percent or 0.3 percent on a constant dollar basis to 159.3 million dollars. The US net sales decreased 0.3 percent and international net sales decreased 0.9 percent or 0.3 percent on a constant dollar basis. Net sales for the first six months decreased 3.1 percent reported and on a...

Management

Tilly’s Q2 comparable sales decrease by 7.8 percent

Tilly’s second quarter net sales were 162.9 million dollars, an increase of 2.9 million dollars or 1.8 percent, while comparable net sales, including both physical stores and e-commerce decreased by 7.8 percent. Total comparable net sales for the month of August increased by 1 percent. For the third quarter, Tilly’s expects net sales to be in...

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Asos sells majority stake in Topshop and Topman

Online retailer Asos has sold a majority stake in Topshop and Topman in a new joint venture deal with Heartland, the holding company representing the interests of the Holch Povlsen family and their family business Bestseller. The joint venture will grant Asos “certain design and distribution rights” for the Topshop and Topman brands in return...

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ABF says "unfavourable" UK weather to impact Primark's H2

Associated British Foods (ABF), parent company of Primark, expects revenue growth in the second half to be around 4 percent, driven by a strong sales contribution from the continued store expansion programme. Like‐for‐like sales are expected to decrease by around 0.5 percent, with growth of 0.2 percent in the third quarter and a projected...

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Fabien Versavau to take over as CEO of La Redoute

La Redoute has appointed Fabien Versavau as chief executive officer, effective from September 9, 2024. In his new role, the company said in a statement, he will be responsible for defining the company's strategic roadmap and overseeing its operations, particularly supporting growth in France and internationally, strengthening the home segment,...

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J.Jill’s Q2 sales drop marginally, cuts outlook

For the second quarter, J.Jill’s net sales decreased 0.9 percent to 155.2 million dollars, while comparable sales increased by 1.7 percent for the quarter under review. For fiscal 2024, the company is lowering its guidance and now expects net sales to be about flat to up 1 percent and for adjusted EBITDA to decline in the range of 4 percent to 9...

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The Very Group ropes in former Asos CEO as non-executive director

The Very Group, which operates digital retailer Very, has appointed Nick Beighton as representative of global investment firm Carlyle and Paul O’Donnell as representative of international investment company IMI to the company’s board as non-executive directors. The company said in a release that non-executive director Mark McMenemy has retired...

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Astley Clarke and Edge of Ember merged under new leadership

British jewellery brands Astley Clarke and Edge of Ember have announced they are merging to “forge a new chapter in the world of luxury accessories”. In a statement, Aeternum Holding, the parent company of Astley Clarke, said the merger symbolises a “strategic blend of heritage and innovation,” as they look to enhance customer experience and...

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Gap reports strong Q2, increases outlook

Gap net sales for the second quarter of 3.7 billion dollars were up 5 percent with comparable sales up 3 percent year-over-year. Increasing its gross margin and operating income outlook for the year ahead, the company said it expects FY24 operating income in the 50’s growth range and gross margin expansion of 200 bps. "In comparison to where we...

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Guess earnings decline, adjusts outlook to reflect 'softer consumer environment'

For the second quarter, Guess recorded a GAAP net loss of 10.6 million dollars and GAAP diluted net loss per share of 28 cents, while adjusted net earnings were 23 million dollars, a 42 percent decrease from 39.7 million dollars and adjusted diluted EPS decreased 42 percent to 42 cents. Total net revenue for the quarter increased 10 percent or...

Management

Abercrombie & Fitch, Kohl's Q2 results top estimates

U.S. retailers Abercrombie & Fitch Co. (ANF) and Kohl's Corp. (KSS) reported on Wednesday results for the second quarter that topped analysts' estimates, with Abercrombie & Fitch raising its outlook for the full-year 2024, while Kohl's slashed its adjusted earnings and sales growth guidance for fiscal 2024. Following the results, Abercrombie &...

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PVH Q2 sales drop but earnings beat estimates

Second quarter revenue at PVH of 2.074 billion dollars decreased 6 percent or 5 percent on a constant currency basis, including a 3 percent decline resulting from the sale of the Heritage Brands women’s intimates business. The company’s EBIT on a GAAP basis increased to 174 million dollars, while EBIT on a non-GAAP basis was 189 million dollars,...