Safilo and Authentic Brands Group (ABG) have announced a five year extension of their license agreement for the design, manufacturing and distribution of the Juicy Couture eyewear collections of sunglasses and optical frames. The company said that the agreement will now run until December 31, 2022.

“The renewal of our license agreement, originally forged in 2005, is a result of positive performance year over year and our strong partnership with ABG,” said Luisa Delgado, CEO of Safilo Group in a statement, adding, “The Juicy Couture brand fits very well with our portfolio strategy, offering popular brands to our target market. We are excited to partner with the brand to grow our diversified distribution channels.”

“We are thrilled to continue a successful partnership with Safilo. Together, we have forged a long-standing relationship that has led to the expansion of the Juicy Couture brand, its categories and distribution channels around the world,” added Jarrod Weber, EVP of Fashion at ABG.

Wall Street brokerages forecast that American Eagle Outfitters (NYSE:AEO) will report earnings per share (EPS) of 0.17 dollars for the current fiscal quarter, according to Zacks.

According to Zacks’ poll, eight analysts have made estimates for American Eagle Outfitters’ earnings, with the EPS estimate ranging from 0.16 dollars to 0.17 dollars. American Eagle Outfitters reported earnings of 0.22 dollars per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 22.7 percent.

The firm is scheduled to issue its next earnings report before the market opens on Wednesday, May 17th. For then, Zacks, analysts expect that American Eagle Outfitters will report full year earnings of 1.25 dollars per share for the current financial year, with EPS estimates ranging from 1.11 to 1.32 dollars.

Looking further ahead, for the next financial year, analysts expect that the business will report earnings of 1.31 dollars per share, with EPS estimates ranging from 1.15 to 1.43 dollars.

Last time American Eagle Outfitters (NYSE:AEO) posted its quarterly earnings results was on March, 1. Back then, the fashion retailer topped the Thomson Reuters’ consensus estimate of 0.38 dollars by 0.01 dollars. The firm feel short though from analysts’ estimates for quarterly revenue, posting revenue of 1.10 billion dollars for the period versus the 1.11 billion dollars estimated by analysts.

Upscale department store operator Nordstrom (NYSE:JWN) has announced that its board has initiated a share buyback program, which permits the company to repurchase 500 million dollars in shares on Friday, February 17, ‘EventVestor’ reported.

This buyback authorisation permits the retailer to re-acquire up to 6.3 percent of its stock through open market purchases. Although there might be many reasons for a traded company such as Nordstrom to repurchase its own stock, the most likely one in this case – according to analysts consulted by FashionUnited – is taking advantage of the current stock’s undervaluation to increase or reinstate its weight on the company’s equity capital without issuing any additional shares.

On a related note, a number of research firms have changed their views on Nordstrom’s shares recently. Cowen and Company lowered their target price on Nordstrom from 64 to 50 dollars and set an “outperform” rating for the company in their last report on the stock.

Meanwhile, Zacks Investment Research downgraded shares of Nordstrom from a “hold” rating to a “sell” rating, while analysts at Goldman Sachs Group Inc downgraded shares of Nordstrom from a “neutral” rating to a “sell” rating and set their target price on the stock at 35 dollars apiece.

Finally, Credit Suisse Group AG upgraded shares of Nordstrom from a “neutral” rating to an “outperform” rating and set a 58 dollars price objective for the company in a research note.

Nordstrom has a 12 month low of 35.01 dollars and a 12 month high of 62.82 dollars. The firm has a market capitalisation of 7.95 billion dollars.

May will be a sad month for fans of Bebe Stores, as the U.S, fashion retailer will shutter down all its physical stores across the U.S, by the end of the month.

Bebe share its plans earlier this week in a filing with the Securities and Exchange Commission (SEC). The official communication said Bebe expects to record a 20 million dollars impairment charge as a result of the closings.

According to its web, the womenswear chain has to close 134 stores and 34 outlet stores in the country. Regarding its online presence, it was not indicated in the filing whether Bebe would stop selling clothes online, although they said at an earlier date they will continue to sell online.

Only upside of such news was that the stock closed 6 percent higher last Friday.

Bebe thus joins the ranks of failed retailers such as The Limited or American apparel, which shut its stores because of a drop in sales and other financial struggles.

Sports Direct breaks into the US market with 101 mn dollars deal

Sports Direct has said that it received an approval of the Delaware Bankruptcy Court to acquire around 50 retail stores in the US under the Bob's Stores and Eastern Mountain Stores for 101 million dollars. The acquisition expected to be completed in the first half of May 2017, will provide Sports Direct with a footprint in US bricks-and-mortar retail and a platform to grow US online sales.

The development follows the filing by Eastern Outfitters LLC (the parent company of Bob's Stores and Eastern Mountain Stores), selling predominantly sports and casual wear, and outdoor and camping equipment and clothing, under Chapter 11 in the US. Sports Direct said, aggregate cost of the acquisition to Sports Direct amounts to 101million dollars in cash.

The company added that in the financial period to January 28, 2017, the businesses being acquired incurred a pre-tax net operating loss of 26 million dollars and the gross assets of the businesses being acquired was 126million dollars.

Picture:Facebook/Bob's Stores

Sandra Harris to replace Martin Schneider as VF’s new CIO

VF Corporation’s Vice President and Chief Information Officer, Martin Schneider has announced his plans to retire at the end of 2017. The company said, Sandra Harris, Vice President, Global Business Technology, will succeed Schneider as Vice President & CIO, effective January 1, 2018.

“Martin led VF’s Global Business Technology organization for more than 11 years, a period of tremendous business growth for VF and transformational change in retail through the rise of e-commerce and mobile shopping,” said Scott Roe, Vice President and Chief Financial Officer in a statement, adding, “He and his teams successfully managed numerous large-scale projects that enabled VF and our brands to navigate rapid technological changes, while also ensuring that our associates have the tools and resources to work anywhere in the world.”

Sandra Harris to replace Schneider as the new CIO

Sandra Harris will work closely with Schneider throughout the rest of 2017 to ensure the successful transition of responsibilities. Harris also has been appointed to VF’s Senior Leadership Team.

VF said, Harris, an eight-year veteran of VF, previously served as Vice President & Chief Financial Officer, global supply chain, shared services, and direct-to-consumer for VF. She has deep and diverse finance and business experience, and has been a key member of VF’s global business technology leadership team.

Harris joined VF after 11 years in the construction products industry, with Wilsonart International where she was responsible for the information technology organization and held various leadership roles within finance and accounting. She began her career in public accounting with Deloitte & Touche.

“Sandra brings an excellent balance of technology, finance and business acumen to the CIO position,” added Roe.

Picture:Timberland website

Messe Frankfurt has partnered with the IAF to organize part of the Symposium that takes place on the floor of the Texprocess Fair. Dialog Textile Bekleiding (DTB) and the World Textile Information Network (WTiN) also run part of Symposium program.

On Tuesday, May 9 th , from 10 am to 1 pm IAF has put together a highly interesting session titled “Implementing Industry 4.0 successfully in the fashion industry” In three subsessions IAF members and relations from across the world will explain to the audience in short speeches and panels discussions what the digitization of the industry is capable of, how it is actually implemented now by clothing manufacturers, brands and retailers and finally, how start-ups are using new technology to create new business models and entice consumers.

Organisations such as Lectra, Gerber, Spesa, Oerlikon, Saxion University, WTiN and Denkendorf will share their insights with the audience. On Friday, May 12 th from 10 am to 12 am IAF will host a session titled “Developments in denim and lessons for the rest of the industry”. In a single round table discussion, the audience will hear innovation in materials and machinery is transforming the denim industry creating new value and sustainability and serving as a good example to other sectors of the fashion industry.

The IAF symposia at Texprocess are meant to add an important extra dimension to a Fair visit, giving inspiration on how to implement the available technology in one’s own business environment.

Sports Direct acquires 7.9 percent stake in Finish Line

According to a regulatory filing, Sports Direct, has acquired a 7.9 percent stake in The Finish Line, reports SBH Media. The filing said that the shares were bought over the period from March 30 to April 13, 2017.

Recently this year, Sports Direct also agreed to take over businesses of Eastern Mountain Sports and Bob’s Stores in bankruptcy proceedings. The report added that in March, Eastern Outfitters, the parent of Eastern Mountain Sports and Bob’s Stores reached a settlement agreement with creditors to hold a private sale to Sports Direct instead of filing a bankruptcy auction.

Even in the past, Sports Direct has picked stake in companies having related business interest. These include Debenhams, JD Sports and the online player Findel. In February, the company acquired an 11 percent stake in French Connection.

According to the Sports Direct website, the company operates 420 sports stores in the UK and its Premium Lifestyle division operates 130 stores in the UK. Internationally, the company runs 270 stores in 19 European countries and plans to expand into all major EEA countries over the next three to five years. Collections under the company’s umbrella are sold under various brand names including Slazenger, Everlast and Karrimor.

Picture:Finish Line website

Van de Velde predicts lower EBITDA for 2017

Van de Velde expects to report a lower EBITDA for 2017 through a combination of stable turnover and accelerated investments to support future growth.

The company said, as a consequence of the challenging retail environment in the markets and channels where Van de Velde is traditionally active and the negative effect of the evolution of the British pound, Van de Velde expects that total turnover in 2017 will not grow compared to 2016.

Therefore Van de Velde has decided to accelerate its investments in areas which will contribute to the further international growth potential of the company in the areas of positioning of its brands and marketing and development of new channels, development of ecommerce & digital, including an up-to-date IT-architecture, increase of the agility and delivery reliability of the supply chain.

The company expects these investments in the future to result in higher expenses in 2017 and 2018, while the same translating into sustainable growth of turnover and profitability of Van de Velde in the coming years.

Picture:Prima Donna website

John Lewis weekly sales jump 11.7 percent

Total sales at John Lewis for the week ended April 15, 2017, were 84.1 million pounds (107 million dollars), up 11.7 percent, which the company said were boosted by the timing of Easter this year. Fashion, John Lewis said, continued its strong performance, with sales up 10.3 percent, as customers transition their wardrobes for the summer months.

Women’s casualwear saw an uplift of 41 percent, while menswear also saw double digit growth with sales up 14.4 percent. Beauty, wellbeing and leisure also performed well, up 14.7 percent, with toys and books in particular enjoying a strong week of sales over the school holidays.

Home sales for the week were up 11.1 percent with seasonal gift food driving this increase, with sales for the category rising by 260.9 percent as customers prepared for Easter celebrations. Cooking and dining also saw growth of 15.7 percent.

EHT sales were up 15.2 percent on last year. Communication technology enjoyed growth of 25.5 percent as sales of mobile phones and photography rose by 39.1 percent, and tablets and computers by 21.9 percent.

Picture:John Lewis website