Articles by Prachi Singh
Bestseller improves profitability amid tough trading year
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In 2023-24, Danish fashion firm Bestseller said that the company’s overall results were impacted by challenging conditions in the global fashion market. Despite this, the company managed to secure an improved EBIT and will continue to invest in transforming its business to adapt to new demands. During the year under review, top-line revenue fell...
River Island reports loss of 32.2 million pounds in 2023
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Clothing brand River Island reported a full year pre-tax loss of 32.2 million pounds, while the total turnover for the year under review decreased 15.1 percent to 701.5 million pounds. The company said in a filing that the negative performance resulted in a reduction in gross profit to 46.7 million pounds and loss after tax was 24.4 million...
Quiz CFO Gerard Sweeney steps down
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Omni-channel fashion brand Quiz has announced the departure of its chief financial officer and company secretary Gerard (Gerry) Sweeney, after more than eight years with the group. The company said that Sweeney will remain with the group until March 31, 2025. Commenting on Sweeney’s resignation, Sheraz Ramzan, the company’s chief executive...
Buckle posts decline in September comparable sales
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Specialty apparel retailer Buckle’s comparable store sales decreased 4.3 percent in September, while total net sales decreased 2.5 percent to 100.6 million dollars. The company said in a release that on the men’s side of the business, total sales for the period decreased 5.5 percent. The men’s business represented approximately 52 percent of...
Nike names Tom Peddie as GM North America
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Nike has appointed Tom Peddie as vice president, general manager of North America, succeeding Scott Uzzell, who has decided to leave the business. Peddie’s role will be effective October 21, 2024. “No one is more qualified to lead North America’s next stage of strategic growth, grounded in sport. Importantly, Tom’s outstanding relationships with...
THG to spin off Ingenuity into private company, reports continued growth in Q3
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THG reported third quarter revenue of 433.1 million pounds, down 0.6 percent. The company however witnessed continued growth in THG Beauty and THG Ingenuity, with improving trends in THG Nutrition during the quarter. The company said in a statement that it is demerging Ingenuity into an independent private company at an equity valuation of up to...
Aritzia reports strong results driven by retail expansion in the US
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Second quarter net revenue at Aritzia increased 15.3 percent to 615.7 million dollars, with comparable sales growth of 6.5 percent. United States net revenue increased 23.9 percent to 345.4 million dollars, retail net revenue increased 17.6 percent to 425.6 million dollars. "Our performance during the second quarter exceeded our expectations....
N Brown improves profit in the first half
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N Brown improved first half adjusted EBITDA by 7.4 percent to 18.8 million pounds and adjusted EBITDA margin by 0.9 ppts to 6.8 percent. Adjusted profit before tax of 3.6 million pounds, increased from 0.1 million pounds in H124, while statutory profit before tax of 0.2 million pounds was an improvement from a loss of 2.8 million pounds last...
Uniqlo parent Fast Retailing posts strong sales and profit growth
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Fast Retailing revenue crossed 3 trillion yen, up 12.2 percent and operating profit over 500 billion yen, up 31.4 percent, while profit attributable to owners of the parent of 371.9 billion yen, increased by 25.6 percent. The company plans to offer a year-end dividend of 225 yen per share. The company said in a statement that when added to the...
About You raises adjusted EBITDA outlook but narrows revenue expectations
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In the first half period, About You Holding increased adjusted EBITDA to 12.8 million euros. In the second quarter, adjusted EBITDA rose by over 10 million euros to negative 2.3 million dollars. Revenue during the second quarter increased by 2.4 percent to 450.1 million euros. The company has narrowed its full-year revenue guidance but raised...