Articles by Huw Hughes
Vince Holding Q1 sales hit by Rebecca Taylor wind-down, but losses narrow
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US fashion group Vince Holding Corp managed to narrow its losses in the first quarter despite its sales dropping year-on-year as the wind-down of its Rebecca Taylor hit its top line. The company announced last September it would be closing down its Rebecca Taylor business to focus its resources on its namesake Vince brand. Sales in the three...
Setchu by Satoshi Kuwata wins 2023 LVMH Prize
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Setchu, the fashion label of Japanese designer Satoshi Kuwata, has been named this year’s winner of the prestigious LVMH Prize. “Congratulations to Satoshi Kuwata,” LVMH announced in an Instagram post Wednesday. “We commend him for his hard work, dedication and vision. He’s come a long way and already built a legacy for himself. We can’t wait to...
FatFace enters Canada with 3 store openings, 6 more planned in 2023
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British lifestyle brand FatFace has announced its entry into the Canada market with the opening of three physical locations and the launch of online shipping to the country. The Hampshire-based brand opened stores in the cities of Barrie and Niagara-on-the-Lake last month, and said trading has been “positive and ahead of plans” at the locations....
G-III ups FY outlook, announces licensing deal with Halston
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G-III Apparel Group has upped its full-year revenue and profit outlook after exceeding both its top and bottom line guidance in the first quarter. Net sales for the first quarter ended April 30 dropped 11.9 percent to 606.6 million dollars, while net income narrowed to 3.2 million dollars from 30.6 million dollars. The group, whose portfolio...
Chico’s posts increase in Q1 profit, but lowers FY outlook
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US retailer Chico’s has lowered its full-year outlook after reporting widening profits but a drop in sales in the first quarter. The women's clothing and accessories company posted a net income of 39.9 million dollars in the three months to April 29, up from 34.9 million dollars a year earlier. Despite the increase in profitability, the retailer...
Tilly’s reports drop in Q1 sales, swings to loss
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US retailer Tilly’s has reported a drop in sales and a net loss in the first quarter of the year as its young shoppers were impacted by inflation. The company generated net sales of 123.6 million dollars in the three months to April 29, down 15.2 percent from the same quarter a year earlier. Comparable net sales, which includes both physical...
Frasers Group confirms job cuts in cost-cutting drive
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British fashion giant Frasers Group has confirmed it will be looking to cut jobs after reviewing its team structures “to identify efficiencies and streamline processes”. As many as 200 jobs could be axed, sources at the group told The Sun. Responding to the media reports, a spokesperson for the fashion chain said: “Frasers Group has gone through...
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...