Articles by DPA
EssilorLuxottica H1 profit rises
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French ophthalmic company EssilorLuxottica (ESLOF.PK, ESLOY.PK), Wednesday reported that its net profit attributable to owners of the parent for the first-half of fiscal year 2024 climbed to 1.746 billion euros or 2.98 euros per share from last year's 1.655 billion euros or 3.03 euros per share. Revenue for the first-half of fiscal year 2024 5.2...
Swatch H1 results, sales decline
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The Swatch Group AG (SWGAF.PK), a Swiss manufacturer of watches and jewellery, Monday reported result before tax of CHF 225 million for the first half, lower than CHF 653 million in the comparable period last year, primarily due to drop in demand for luxury goods in China, including Hong Kong SAR and Macau SAR. Operating results declined 17.1...
Fielmann increases profit and expects slightly higher margin
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The optician chain Fielmann increased its profits in the first half of the year. According to preliminary calculations, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by around 14 percent to 235 million to 240 million euros, as the company announced on Thursday ahead of the annual general meeting in Hamburg. The...
Rohit Aggarwal named new member of board for Lenzing Group and designated CEO
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Lenzing - The Supervisory Board of Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, has appointed Rohit Aggarwal as a new member of the Management Board of Lenzing Group. He will assume responsibility for the fiber division during the third quarter. After the departure of Stephan...
Shein reportedly files for London IPO
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Fast-fashion retailer Shein has confidentially filed for an initial public offering in London, following the rejection of its U.S. public listing application in November, according to a report by Reuters. The company has updated the Chinese authorities about the change in listing venue. However, it is yet to receive an approval from the China...
Central Group takes over business operations of the KaDeWe Group
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The business operations of the luxury German department stores KaDeWe (Berlin), Oberpollinger (Munich) and Alsterhaus (Hamburg) are being sold to the Thai Central Group. According to information from the German Press Agency, a corresponding contract with the KaDeWe Group was signed on Friday. A purchase price was not initially disclosed....
Stripes on Nike sports pants violate Adidas' trademark rights
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Sportswear brand Nike may no longer sell a particular pair of sports trousers in Germany because they are very similar to competitor Adidas' three-stripe design. This was decided by the Oberlandesgericht (a form of the higher court, ed.) Düsseldorf on Tuesday in an appeal case. In the case of four other trousers whose stripe design Adidas had...
Ralph Lauren sees margin growth but weak revenues in Q1, appoints new CFO
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Luxury fashion house Ralph Lauren Corp. (RL), while reporting higher fourth-quarter results, on Thursday issued first-quarter outlook, expecting increased margin but weak revenues. The company also issued fiscal 2025 forecast, and announced higher dividend. Separately, Ralph Lauren announced the appointment of Justin Picicci as Chief Financial...
Department store chain Galeria Karstadt Kaufhof to change its name upon backing of US investor
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Beauty products, handbags, shoes, underwear - these are to be the focal points of German department store chain Galeria Karstadt Kaufhof's product range in future. ‘This will enable us to clearly differentiate ourselves from the competition,’ the company's managing director, Olivier Van den Bossche, said on Tuesday. For beauty products such as...
Nordstrom establishes special committee amid founding family's privatization proposal
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Nordstrom Inc.'s (JWN) founding family has notified the board of its interest in taking the company private. The company formed a special committee to evaluate any proposal from the company's Chief Executive Officer Erik Nordstrom and the company's president Pete Nordstrom, and any proposals from other parties and consider whether they are in...