Articles by Prachi Singh
Coty delivers strong Q4 sales and profit growth
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Coty Inc. reported fourth quarter sales increased 16 percent to 1,351.6 million dollars or 17 percent on a LFL basis, ahead of its recently raised guidance of 12 to 15 percent. The company’s FY23 reported sales growth was 5 percent to 5,554.1 million dollars, which includes approximately 2 percent of negative impact from the Russia business...
Gentili Mosconi H1 sales increase by 4.2 percent
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Luxury fabric manufacturer Gentili Mosconi S.p.A. said revenues for the first half of 2023 amounted to 27.3 million euros, an increase of 4.2 percent compared to the same period of 2022 with significant increase in fashion textile accessories and home textile accessories businesses. Commenting on the trading update, Francesco Gentili, president...
Nike reports revenue and earnings growth in Q1
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For its first quarter, Nike, Inc. reported revenues of 12.9 billion dollars, up 2 percent compared to prior year on a reported and currency-neutral basis. Gross margin for the quarter decreased 10 basis points to 44.2 percent and net income was 1.5 billion dollars, down 1 percent, while diluted earnings per share rose 1 percent to 94 cents. “Q1...
Depop increases sales, narrows losses
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London-based fashion marketplace Depop reported an 8 percent improvement in the annual sales to 54.3 million pounds, while the company’s losses narrowed to 59.4 million pounds. The company’s current owner Etsy Inc. said in its 2022 10-K filing: “We believe Depop has a meaningful growth opportunity given its healthy user engagement metrics,...
Former River Island CEO Will Kernan to join John Lewis board
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John Lewis Partnership has appointed Will Kernan as a non-executive director of the Partnership board, with effect from September 12, 2023. Commenting on Kernan’s appointment to the board, Sharon White, chairman of the John Lewis Partnership, said: "We’re fortunate to have Will’s extensive experience and expertise, which will play a significant...
Pepco expands European footprint, debuts stores in Bosnia and Herzegovina
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Pepco Group, owner of the Pepco and Dealz brands across Europe and Poundland in the UK, opened its first store in Bosnia and Herzegovina. Commenting on the retail expansion plan, Trevor Masters, CEO of Pepco Group, said: “The opening of the first Pepco store in Bosnia and Herzegovina represents a milestone in the group’s profitable store...
Uniqlo Japan August same-store sales increase 7.1 percent
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August 2023 same-store sales including online sales at Uniqlo Japan increased by 7.1 percent, while total sales including online sales increased by 9.7 percent. The company, part of the Fast Retailing Group attributed same-store sales increase in August to persistently hot weather throughout the month that supported strong sales of summer items...
Sneaker brand Hidnander names Adam Kakembo as its first CEO
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Sneaker brand Hidnander has appointed Adam Kakembo as the brand’s first chief executive officer (CEO). The company, founded in 2019, said in a release that Kakembo is a brand builder with an entrepreneurial spirit and a well-regarded figure in the premium luxury and branded goods’ sectors. “This is an exciting time for Hidnander. The brand is...
Tilly’s Q2 comparable sales decrease by 8.5 percent
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Tilly’s, Inc. net sales were 160 million dollars, a decrease of 8.4 million dollars or 5 percent, while comparable net sales, including both physical stores and e-commerce, decreased by 8.5 percent. For the first six months, net sales were 283.6 million dollars, a decrease of 30.5 million dollars or 9.7 percent, while comparable net sales,...
Lands’ End Q2 loss widens, revenues drop
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Lands’ End, Inc. second quarter net revenue decreased 7.9 percent to 323.3 million dollars. The company’s net loss widened to 8 million dollars or 25 cents loss per diluted share and adjusted EBITDA remained flat at 15.8 million dollars. Commenting on the trading update, Andrew McLean, the company’s chief executive officer, said in a release: “...