Articles by Huw Hughes
Nordstrom Q1 profits narrow, reiterates FY adjusted EPS outlook
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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...
Revolution Beauty posts H1 revenue drop, but losses narrow
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Revolution Beauty Group has narrowed its losses in the first half of the year despite reporting a 4.3 percent drop in revenue driven by weaker digital sales. The British beauty company generated H1 sales of 75.3 million pounds, down from 78.6 million pounds a year earlier, according to its unaudited results for the six months ended August 31. UK...
Wolverine Worldwide taps new president amid wider leadership changes
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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...
Caleres lowers FY revenue outlook, announces cost-cutting drive
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US footwear group Caleres has lowered its full-year revenue outlook and announced new cost-cutting measures after reporting a drop in sales and profit in the first quarter. The company reported a 9.8 percent drop in net sales to 662.7 million dollars in the three months to April 29, with Famous Footwear segment sales down 9.2 percent, and Brand...
Macy's lowers FY outlook as Q1 sales, profits drop
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Macy’s has downgraded its full-year outlook as sales fell 7 percent in the first quarter amid falling consumer demand. The US department store giant made net sales of 5 billion dollars in the first quarter, with brick-and-mortar sales down 6 percent and digital sales down 8 percent. CEO and chair Jeff Gennette told investors: “We planned the...
Farfetch announces new Off-White CEO, New Guards Group co-founders exit
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Farfetch has announced a number of leadership changes at New Guards Group (NGG), including the exit of the group’s founders, and the appointment of a new CEO at Off-White. Davide De Giglio and Andrea Grilli are leaving NGG, which they founded in 2015 - De Giglio was most recently serving as CEO of NGG, while Grilli served as CEO of luxury...
Victoria’s Secret posts drop in sales, profit in ‘challenging’ Q1
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US intimates giant Victoria’s Secret has reported a hit to its top- and bottom-line performance in the first quarter of the year amid “a volatile macro environment”. The specialty retailer posted a 5 percent drop in net sales to 1.407 billion dollars in the three months to April 29 against a “challenging” economic backdrop and an increase in...
Dr Martens posts record FY revenue, but profits slip amid ‘operational mistakes’
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British bootmaker Dr Martens reported record revenue surpassing 1 billion pounds in its preliminary results for the year ended March 31, but its profits took a hit. The company’s revenue jumped 10 percent in the year, or 4 percent on a constant currency basis, as a strong performance in EMEA offset a softer performance in America. “Reaching this...
PVH reports uptick in Q1 sales, reaffirms FY outlook
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Tommy Hilfiger parent company PVH has reaffirmed its full-year outlook after reporting a 2 percent increase in revenue in the first quarter, beating its Q1 guidance. The US fashion giant generated revenue of 2.158 billion dollars in the first quarter, up from 2.123 billion dollars a year earlier, as growth in its DTC business offset a drop in...
Capri Holdings Q4 revenue down 10.5 percent, swings to loss
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Michael Kors parent company Capri Holdings has reported a double-digit drop in revenue in the fourth quarter as it swung to a loss. The US fashion group generated revenue of 1.34 billion dollars in the three months to April 1 compared to revenue of 1.49 billion dollars a year earlier. However, the decrease amounted to a less significant 3...