Articles by Huw Hughes
Torrid swings to FY profit as Q4 losses narrow, appoints CCO
24 Mar 2023 - Business
Plus-size womenswear brand Torrid returned to a profit in the year ended January 28 as its fourth-quarter losses narrowed. The US brand, which specialises in fashion for sizes 10 to 30, ended the year with a net income of 50.2 million dollars compared to a loss of 29.9 million dollars a year earlier. Adjusted EBITDA for the full year fell to...
Joe Browns eyes 10 new UK stores by end of 2024, creating 200 jobs
23 Mar 2023 - Retail
Joe Browns is bucking the broader UK retail trend by announcing ambitious plans to open 10 new stores by the end of 2024 on the back of “robust” Christmas trading. It’s a significant expansion for the fashion and homes retailer, which currently only has two stores: one in York, and another in Meadowhall, Sheffield. The company, which recently...
The RealReal to wind down beauty business amid streamlining efforts
23 Mar 2023 - Business
The RealReal is winding down its beauty business to focus on its luxury consignment business amid an ongoing streamlining at the US resale giant. “We’re prioritizing our efforts on growing our luxury consignment business,” a spokesperson told WWD. “With that, we have been deemphasizing the direct side of our business, including our beauty...
eBay UK taps former Asos brand director as new general manager
23 Mar 2023 - People
E-commerce giant eBay has announced the promotion of Eve Williams as new vice president and general manager of its UK business. Williams joined eBay UK in December 2020 as chief marketing officer (CMO), during which time she oversaw several important initiatives, including eBay’s pre-loved fashion partnership with Love Island, and the launch of...
John Lewis chair Sharon White responds to stake sale speculation
23 Mar 2023 - Business
The chair of John Lewis has sent a message to customers following news the company is considering diluting its partnership structure amid continued losses. In a statement on LinkedIn, Sharon White said it is her responsibility to ensure “the partnership model not only survives, but thrives for another 75 years”. It follows a report by The Sunday...
British Land snaps up three UK retail parks for 94 million pounds
22 Mar 2023 - Business
Shopping centre owner British Land has bought three new retail parks for a total of 94 million pounds. The British company announced Tuesday it has acquired the Capitol Retail and Leisure Park in Preston for 51.5 million pounds; Solartron Retail Park in Farnborough for 35 million pounds; and DFS, a retail warehouse in Cambridge, for 7.35 million...
Superdry sells Asia Pacific IP for 50 million dollars amid turnaround
22 Mar 2023 - Business
British fashion retailer Superdry has reached an agreement to sell its intellectual property (IP) assets within the Asia Pacific (APAC) region to South Korean firm Cowell Fashion Company for 50 million dollars amid its ongoing turnaround strategy. The deal means Cowell will own and use the Superdry brand in key APAC markets, “starting with its...
Scotch & Soda files for bankruptcy for Dutch operations amid 'severe cash flow issues'
20 Mar 2023 - Business
Fashion retailer Scotch & Soda has filed for bankruptcy for its Dutch operations following “a chain of events that accelerated severe cash flow issues”. The company said in a LinkedIn post that the pandemic combined with high inflation forced it to declare bankruptcy in the Netherlands despite reporting record sales of 342.5 million euros in...
Foot Locker reports drop in Q4 profit, but beats expectations
20 Mar 2023 - Business
Sportswear retailer Foot Locker has reported a drop in profit in the fourth quarter as its sales fell slightly, but its overall results were ahead of expectations. The New York-based company made a net profit of 19 million dollars in the quarter ended January 28, down from a profit of 103 million dollars a year earlier. That came as the...
Beauty giant Revlon swings to Q4 loss
17 Mar 2023 - Business
US beauty giant Revlon swung to a loss in the fourth quarter of the year as its revenue fell 4.1 percent. In the quarter ended December 31, the company made a net loss of 178.5 million dollars compared to a profit of 9.9 million dollars in the prior-year period, which it said was primarily due to 172.7 million dollars in charges linked to its...