Articles by Prachi Singh
Christie’s announces leadership changes, names Bonnie Brennan as new CEO
With the support of the Pinault family, and on the recommendation of Guillaume Cerutti, the Christie’s board has appointed Bonnie Brennan as chief executive officer, effective February 1, 2025. Christie’s said in a statement that the change takes place as Guillaume Cerutti has been entrusted with the responsibility of implementing and overseeing...
Peopleloading...
Poundland Struggles in Q3; Pepco Group plans revival
European discount retailer Pepco Group delivered first quarter revenue of 1.9 billion euros, with constant currency growth of 3 percent versus last year. However, LFL revenues declined 1.1 percent, with a positive performance from both Pepco and Dealz offset by continued challenges in the Poundland business. In December the company’s CEO Stephan...
BusinessMemberloading...
ThredUp's Q4 results exceed expectations
Online resale platform ThredUp said in a preliminary results statement that fourth quarter revenue, gross margin and adjusted EBITDA margin are above previously issued guidance for the United States. The company recorded total revenue of 66.7 million dollars to 67.2 million dollars in the US versus the previous expected range of 58 million...
BusinessMemberloading...
Safilo and Under Armour renew eyewear licensing agreement
Safilo Group and Under Armour have renewed their global licensing agreement for Under Armour branded eyewear until 2031. "We are enthusiastic about extending our successful partnership started in 2020 with Under Armour. We are thrilled to continue this journey, leveraging Under Armour's growing consumer base in North America and in the rest of...
BusinessMemberloading...
Reitmans chief information officer to retire in September
Canadian apparel retailer Reitmans (RCL) has announced the retirement of Gale Blank, its chief information officer. "Gale joined us five years ago with this goal in mind: to lay the foundations of a solid technology infrastructure essential to our long-term growth," said Andrea Limbardi, president and CEO of RCL. "Thanks to her vast experience...
Peopleloading...
Foot Locker appoints Sonia Syngal and John Venhuizen as board directors
Foot Locker has elected Sonia Syngal and John Venhuizen as directors of the board, effective January 12, 2025. "In line with our continued focus on regular refreshment to ensure we have the right mix of skills and experience on our board, we are delighted to welcome Sonia and John as new independent directors," said Dona D. Young, Foot Locker’s...
Peopleloading...
Wolford CEO Regis Rimbert steps down
Wolford has announced that Regis Rimbert is resigning from the management board effective January 17, 2025, within a year of his taking over as the company’s CEO. The company has announced the appointment of current global CFO, Andrea Rossi, as the interim general manager. Since 2018, both Lanvin Group and Wolford have been owned by Chinese...
Peopleloading...
Brunello Cucinelli sales up by 12.2 percent, sees strong growth ahead
For the year 2024, Italian luxury group Brunello Cucinelli’s revenues of 1,278.4 million euros, increased by 12.2 percent at current exchange and 12.4 percent at constant exchange rates. In the fourth quarter, the company achieved a turnover of 358 million euros, an increase of 11.6 percent year-on-year. The company said in a statement that...
BusinessMemberloading...
Urban Outfitters holiday sales increase by 10 percent
Urban Outfitters net sales for the two and eleven months increased by 10 percent and 7 percent, respectively. After the company reported positive set of results, Jefferies analyst Corey Tarlowe increased the company's share price target, from 36 dollars to 40 dollars while maintaining an Underperform rating on the stock. According to a...
BusinessMemberloading...
JD Sports lowers profit forecast in "volatile" market
In a pre-close trading update, sportswear retailer JD Sports said that like-for-like (LFL) revenue across November and December was down 1.5 percent, in a challenging and volatile market that saw increased promotional activity. The company now expects profit before tax and adjusting items to be between 915 million pounds and 935 million pounds...
BusinessMemberloading...