Articles by Jan Schroder
Loewe increases annual profit by more than 60 percent
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The Spanish fashion house Loewe is currently experiencing a boom. The label, which belongs to the French luxury goods giant LVMH, recently took the top spot in the Lyst Index, the ranking of the world's most sought-after fashion brands. In addition to this, the Spanish company has also been doing extremely well financially. On Monday, the...
Patagonia announces job cuts following organisational review
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US outdoor equipment manufacturer Patagonia is laying off numerous employees as part of a reform of its personnel structure. "We have had to make the sad and difficult decision to say goodbye to 41 of our colleagues," said CEO Ryan Gellert in a LinkedIn post that the company published on its website last week. As such, Patagonia has laid off 1...
Zalando bundles partner offers
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The Berlin-based e-commerce group Zalando SE has combined the service offerings for its partners on a single platform. On Wednesday, the company presented the new portal "Zalando Partner". Through this, partner companies have "access to a website that offers understandable information on Zalando's partnership models in a uniform appearance,"...
More than “traditional sponsorship”: Snipes becomes partner of Paris Saint-Germain
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The retail chain Snipes will soon have a prominent presence in top-level football. On Monday, the sneaker and sportswear retailer, which is part of the Deichmann Group, announced that it will be collaborating with the top French club Paris Saint-Germain (PSG) as an Official Culture & Community Partner. As part of the agreement, which is...
Despite sales increase, Mytheresa reports higher annual loss
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Munich-based fashion retailer Mytheresa closed the 2023/24 financial year with a solid increase in sales. However, its loss was significantly higher than in the previous year. This is evident from the current annual report, which the listed holding company MYT Netherlands Parent BV published on Thursday. In the financial year to the end of June,...
Restructuring becomes more expensive: Under Armour warns of higher losses
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The US sporting goods manufacturer Under Armour Inc. had to issue a profit warning on Monday evening. According to current information, the ongoing reform measures will have a greater impact on earnings in the 2024/25 financial year than previously expected. The company cited additional restructuring costs as the reason, which mainly result from...
Change of leadership at Lenzing: CEO Stephan Sielaff leaves at the end of August
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The Austrian fiber producer Lenzing AG will implement the management change announced in June at the end of the month. On Wednesday, the group announced that CEO Stephan Sielaff will "leave Lenzing AG by mutual agreement with the Supervisory Board at the end of August 2024." Rohit Aggarwal will then take over the CEO position on September 1....
Frasers Group increases stake in Hugo Boss
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British retail group Frasers Group Plc has once again increased its stake in the German fashion retailer Hugo Boss AG. The Frasers Group "exceeded the threshold of 10 percent of the voting rights attached to shares in Hugo Boss AG on July 17, 2024 and the threshold of 15 percent on July 22, 2024" and "currently directly holds over 15 percent of...
Steve Madden increases quarterly sales by almost 18 percent
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US fashion retailer Steve Madden has also closed the second quarter of the 2024 fiscal year with a significant increase in sales. The company was also able to improve its earnings. This is according to an interim report published by the parent company Steven Madden Ltd. on Wednesday. In the period from April to June, group sales amounted to...
JD Sports completes acquisition of Hibbett
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British retail group JD Sports Fashion Plc on Thursday completed the takeover of the US sporting goods supplier Hibbett Inc., which was announced in April . CEO Régis Schultz once again emphasized the importance of the transaction for JD Sports. "The completion of the acquisition of Hibbett is an important strategic milestone for us in North...