Articles by Prachi Singh
Designer Brands lowers full year outlook
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Designer Brands’ net sales decreased 2.6 percent to 771.9 million dollars in the second quarter, while comparable sales decreased by 1.4 percent. Lowering its full year outlook, the company said it now expects net sales growth in the flat to low-single digits and adjusted diluted EPS in the range of 50 to 60 cents. "We saw sustained pressure on...
Zara-owner Inditex posts sales and profit growth
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In the first half period, Inditex recorded sales growth of 7.2 percent to reach 18.1 billion euros, showing a positive development both in stores and online. Sales were positive across all concepts. Sales in constant currency grew by 10.2 percent. Commenting on the first half trading Óscar García Maceiras, Inditex CEO said in a statement: “The...
India's Reliance Retail partners with Delta Galil
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Indian retailer Reliance Retail and Delta Galil, manufacturer and marketer of intimate, activewear, loungewear and denim apparel have announced a 50/50 strategic partnership in India. The company said in a release that through this partnership Delta Galil plans to expand its footprint in the growing Indian market, offering its portfolio of...
Ross Stores announces changes to its merchandising leadership team
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Ross Stores has announced merchandising leadership changes that the company believes will strengthen the successful execution of its off-price strategies and drive profitable market share gains over the near and long term. Effective December 1, 2024, the company said, Karen Fleming is promoted to president and chief merchandising officer, Ross...
Aerosoles appoints footwear industry veteran Jimmy Gabriel as chief brand officer
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Footwear firm Aerosoles has announced the appointment of Jimmy Gabriel as its new president and chief brand officer. The company said in a release that Gabriel, a veteran with almost 50 years of experience in the footwear industry, brings his deep expertise and visionary leadership to Aerosoles, a brand owned by American Exchange Group. "Jimmy...
Eyewear player Inspecs reports revenue decline
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Inspecs Group, a designer, manufacturer, and distributor of eyewear reported a revenue decline of 7.3 percent to 103 million pounds. On a constant exchange basis, revenue decreased by 5.2 percent to 105.4 million pounds. Gross profit for the period improved by 100 basis points to 52.4 percent, while underlying EBITDA decreased to 10.1 million...
Delta Galil names Yaniv Benedek as CFO
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Delta Galil Industries, manufacturer and marketer of intimate, activewear, loungewear and denim apparel has appointed Yaniv Benedek as chief financial officer (CFO), effective October 9, 2024. The company said in a release that Benedek, who joined the company in 2011, most recently served as CFO of Delta Israel Brands. “Yaniv’s financial and...
Golden Goose achieves strong first half results
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First half net revenues at Golden Goose of 307 million euros, were up 12 percent, while DTC revenues increased by 18 percent, accounting for 73 percent of net revenues, delivering on the company’s DTC expansion strategy. Adjusted EBITDA for the period increased by 12 percent to 109.2 million euros, while adjusted EBIT of 80.5 million euros, was...
Givenchy ropes in Sarah Burton as creative director
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LVMH-owned Givenchy has appointed British designer Sarah Burton as creative director, with immediate effect. She will present her first collection in March 2025. Burton, the company said in a statement, will be responsible for the creative direction of all of the maison’s women's and men's collections. Commenting on her new role at Givenchy,...
Zumiez cuts Q2 loss, comparable sales increase by 3.6 percent
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Zumiez net sales for the second quarter increased 8.1 percent to 210.2 million dollars and comparable sales increased 3.6 percent. The company’s net loss for the quarter reduced to 0.8 million dollars or 4 cents per share. Total net sales for the six months increased by 2.7 percent to 387.6 million dollars and comparable sales increased 0.8...