Articles by Prachi Singh
Unseasonal weather impacts Shoe Zone's FY24 results
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Shoe Zone revenue in FY24 was 161.3 million pounds, down 2.7 percent due to the unseasonal weather in the second half of the year, particularly peak summer, as well as trading out of 26 fewer stores. The company expects to report pre-tax profit not less than 9.6 million pounds and adjusted profit before tax of around 9.5 million pounds. The...
Mathieu Sidokpohou to take over as head of Adidas global sales
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Arthur Hoeld, executive board member responsible for Adidas global sales, is stepping down by the end of October 31, 2024. The company’s supervisory board has appointed Mathieu Sidokpohou, 49 to succeed Arthur Hoeld, effective November 1, 2024.Sidokpohou, a French national, joined the company in 2020 as general manager Adidas France. In July...
Boohoo Group launches strategic review, CEO John Lyttle resigns
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Following five years with the business, Boohoo Group CEO John Lyttle has decided to stand down and will remain with the company until a successor is found. The company also announced the signing of a new 222 million pounds debt financing agreement and undertaking of a review of options for each division to maximise shareholder value. Commenting...
LPP's VP of management board steps down due to health reasons
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On October 17 2024, Przemysław Lutkiewicz, vice-president of the management board of LPP, resigned from his position for health reasons. As a result, the company’s CEO Marek Piechocki intends to propose Marcin Bójko, LPP’s current financial director as the new vice-president, chief financial officer of the company. “Accepting Przemysław...
EssilorLuxottica records marginal increase in Q3 revenues
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EssilorLuxottica's revenue for the third quarter reached 6.4 billion euros, an increase of 4 percent at constant exchange and 2.3 percent at current exchange rates. In the first nine months of 2024, revenue amounted to 19.7 billion euros, up 4.9 percent or 3 percent at current exchange rates, backed by positive growth across all channels and...
Brunello Cucinelli records strong revenue growth
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For the first nine months, Brunello Cucinelli reported a turnover of 920 million euros, growth of 12.4 percent at current and 12.7 percent at fixed exchange rates. In the third quarter, turnover of 300 million euros increased by 9.2 percent. Commenting on the strong results, Brunello Cucinelli, the company’s executive chairman and creative...
Global Fashion Group raises full year outlook
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Raising its outlook for the full year, Global Fashion Group (GFG) said that it expects to exceed the adjusted EBITDA guidance set in March of negative 25 to 45 million euros to negative 16 to 28 million euros. The company said in a release that the positive outlook is primarily driven by operational efficiency efforts which have improved overall...
Showroomprivé posts 7.9 percent decline in Q3 sales
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Showroomprivé recorded a gross merchandise value (GMV) of 703 million euros over the first nine months of 2024, down 0.7 percent, while sales also declined by 5.1 percent compared to the same period last year. For the third quarter, GMV of 204 million euros decreased by 2.3 percent and sales at 128.7 million euros declined by 7.9 percent. During...
N Brown to be taken private through 191 million pounds deal
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Bidco, a newly formed company owned and controlled by Joshua Alliance, will acquire fashion retailer N Brown for approximately 191 million pounds. The company has offered 40p per share in cash compared with N Brown’s closing price of 27p yesterday. The Alliance family already owns around 60 percent of N Brown’s total shares. Bidco said in a...
i-D magazine appoints Jamie Reid and Steff Yotka to newly created roles
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Bedford Media has announced the appointments of Jamie Reid as global creative director and Steff Yotka as global editorial director of i-D. In these newly created positions, the company said in a release, Reid and Yotka will work with i-D global editor-in-chief and chief brand officer Thom Bettridge to collectively steer the publication’s...