Articles by Prachi Singh
Based in India, Prachi has been associated with FashionUnited for over a decade as freelance editor-finance. She did BA in English Literature from Goa University and then did a diploma in journalism from Xavier Institute of Communications, Bombay. After actively working for various publications in the fashion/apparel and textile space in India, she covers financial reporting, mergers & acquisitions and new appointments at FashionUnited.
Footwear retailer Caleres reports drop in sales and earnings
Fourth quarter net sales at footwear retailer Caleres of 639.2 million dollars, declined 8.3 percent year-over-year. The company also reported a 9.6 percent drop in Famous Footwear segment, with comparable sales down 2.9 percent, while the Brand Portfolio segment also decreased 7.2 percent. Net earnings declined to 11.1 million dollars or...
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Torrid's net income rises despite sales decline in FY24
Women’s plus-size clothing brand Torrid recorded a net sales decrease of 4.2 percent to 1.1 billion dollars for the fiscal year 2024 with a comparable sales decrease of 4.5 percent compared to last year. However, net income rose to 16.3 million dollars or 16 cents per share, and adjusted EBITDA increased to 109.1 million dollars. The company...
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Nike struggles amid sales slump and layoffs, forecasts margin pressure
Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...
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Cato Corp. to close stores and cut jobs in response to financial struggles
The Cato Corporation reported a net loss of 14.1 million dollars or 74 cents per diluted share for the fourth quarter ended February 1, 2025. Sales for the quarter of 155.3 million dollars, decreased 10 percent and comparable sales also decreased 5.1 percent. "Our fiscal 2024 sales trend was negatively impacted by continued pressure on our...
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Shoe Carnival posts FY24 sales growth, cautious on FY25 forecast
Footwear retailer Shoe Carnival reported net sales of 1.203 billion dollars, up 2.3 percent for fiscal 2024 driven by continued growth from Shoe Station’s 5.7 percent net sales growth and over 80 million dollars in net sales from Rogan’s, partially offset by a 3.9 percent comparable store sales decline, driven by Shoe Carnival. Net income grew...
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Destination XL Q4 sales decline amid retail challenges
Men’s Big + Tall clothing retailer Destination XL Group’s (DXL) sales for the fourth quarter were 119.2 million dollars, down 13.1 percent and comparable sales decreased 8.7 percent. The company’s net income reduced to 2 cents per diluted share versus 10 cents in the previous year. Adjusted EBITDA also declined to 4.2 million dollars. In the...
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Designer Brands posts Q4 comparable sales growth
For its fourth quarter, footwear retailer Designer Brands recorded a net sales decrease of 5.4 percent to 713.6 million dollars. Despite this, comparable sales increased by 0.5 percent. Gross profit decreased to 282.6 million dollars and net loss reached 38.2 million dollars or loss of 80 cents per diluted share. Adjusted net loss was 21.3...
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Record profit for Footasylum: Strategic initiatives drive success
Sportswear retailer Footasylum has reported a 9.4 percent increase in revenue to 349.5 million pounds (453.5 million dollars) for FY25, according to its unaudited results. Underlying EBITDA for the year rose 26 percent to 28.2 million pounds, operating profit increased 123 percent to 23.3 million pounds and pre-tax profit jumped 188 percent to...
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Australian retailer Myer forecasts challenging outlook
Australian department store Myer reported lower earnings for the first half period due to logistical issues at its Victorian distribution centre and strategic review costs, forecasting a challenging outlook amid weak economic conditions. The company recorded a marginal sales increase of 0.1 percent to 1.83 billion Australian dollars for the...
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J.Jill reports resilient full-year results but cautious start to FY25
Women’s wear retailer J.Jill delivered steady full-year results but anticipates a slower start to the new fiscal year. The company’s net sales for the year ended February 1, 2025 increased 0.5 percent to 610.9 million dollars, while comparable sales increased by 1.5 percent. Net income per diluted share improved to 3.47 dollars, while adjusted...
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