Articles by Prachi Singh
HanesBrands posts Q4 loss, net sales drop by 16 percent
Feb 2, 2023 - Business
For the fourth quarter, HanesBrands Inc. reported a net sales decrease of 16 percent to 1.47 billion dollars, which includes a 55 million dollars unfavourable impact from foreign exchange rates, compared to last year. On a constant currency basis, net sales decreased 13 percent. The constant currency decline, the company said in a release, was...
Uniqlo Japan January same store sales increase by 10.9 percent
Feb 2, 2023 - Business
January same-store sales including online sales at Uniqlo Japan increased by 10.9 percent year on year while total sales including online sales increased by 14.9 percent. The company, part of the Fast Retailing Group said in a release that same-store sales rose in January as persistently cold weather throughout the month generated strong sales...
Kinnevik reports 27 percent decline in 2022 net asset value
Feb 2, 2023 - Business
Kinnevik reported NAV of 52.9 billion Swedish krona or 189 Swedish krona per share, down 5.1 billion Swedish krona or 9 percent in the fourth quarter and down 19.5 billion Swedish krona or 27 percent for the full year. The company’s net cash position was 10.4 billion Swedish krona, corresponding to 24 percent of portfolio value by year-end. ”...
Macy's partners with Pattern Beauty to expand its hair care portfolio
Feb 2, 2023 - Business
Macy’s has announced the launch of Pattern Beauty with the brand’s extensive assortment of washes, treatments, styling tools and more. As the brand’s first-ever department store partner, Pattern, the company said in a release, expands Macy’s portfolio of hair care products, specifically in the curl category. “We are thrilled to begin our...
Under Armour appoints two new board members
Jan 31, 2023 - Business
Under Armour, Inc. has announced the appointment of Carolyn Everson and Patrick Whitesell as members of its board of directors effective February 1, 2023. In addition, the company said in a statement, longtime member Harvey Sanders will retire from Under Armour's board on March 31, 2023. As previously announced, Stephanie Linnartz will join the...
European market drives 2022 sales at Safilo
Jan 30, 2023 - Business
Preliminary results for Safilo Group S.p.A., for the financial year ended December 31, 2022 showed that net sales amounted to 1076.7 million euros, up 11.1 percent at current exchange rates and 4.2 percent at constant exchange rates. In the year, the company said, organic sales grew by 7.7 percent at constant exchange rates, recording...
H&M posts drop in operating profit, Q2 sales up 10 percent
Jan 27, 2023 - Business
H&M’s fourth quarter net sales increased by 10 percent to 62,433 million Swedish krona, while in local currencies, net sales were flat. Excluding Russia, Belarus and Ukraine the increase was 11 percent in SEK and 2 percent in local currencies. Net sales in SEK increased by 12 percent in the 2022 financial year to 223,553 million Swedish krona,...
Luxury group LVMH records 23 percent growth in revenue and profit
Jan 27, 2023 - Business
Luxury conglomerate LVMH Moët Hennessy Louis Vuitton recorded revenue of 79.2 billion euros in 2022 and profit from recurring operations of 21.1 billion euros, both up 23 percent. The company said in a statement that all business groups under its portfolio achieved significant organic revenue growth. Fashion & leather goods reported organic...
Tendam posts revenue growth
Jan 26, 2023 - Business
Tendam Brands reported total sales in the third quarter stood at 263.2 million euros, up 1.7 percent and 2.7 percent, respectively compared to the same period in 2021 and 2019. Tendam's total revenues increased by 8.6 percent to 840.7 million euros in the first nine months of the year. Like-for-like sales were up by 10 percent versus 2021 and...
Express completes partnership deal with WHP Global
Jan 26, 2023
Fashion apparel retailer Express, Inc. (EXPR) has announced the completion of a previously announced transaction with WHP Global, a leading global brand management firm. The company’s board of directors has also named Yehuda Shmidman as a Class II director. Express announces completion of agreed transaction with WHP Global The mutually...