Home

News

Business

Latest Articles in Business

Mothercare reports widening full-year losses

Mothercare has reported widening losses and a drop in full-year turnover as the pandemic put a spanner in the works of the maternity and childrenswear specialist’s ongoing transformation strategy. For the year to March 27, the company’s statutory loss widened to 21.5 million pounds from 8.5 million pounds a year earlier, while its turnover fell...

2 hours ago

Business

Wolverine Worldwide posts Q2 sales growth of 81 percent

For the second quarter of 2021, Wolverine World Wide, Inc. said, reported revenue was 631.9 million dollars, up 81 percent versus the prior year. On a constant currency basis, revenue was up 77.7 percent versus the prior year. The company said in a release that total direct-to-consumer reported revenue was up 17.5 percent versus the prior year...

3 hours ago

Business

Dr Martens Q1 sales jump above pre-Covid levels

British bootmaker Dr Martens has reported a surge in first-quarter sales ahead of pre-Covid 2019 levels. The company, which earlier this year launched its IPO on the London Stock Exchange, said revenue in the three months to June 30 reached 147.3 million pounds, that’s 52 percent higher than a year ago, which the company said was a “weak...

6 hours ago

Business

Puma sales and profit increase, expects FY21 sales to grow by 20 percent

Sales at Puma increased by 95.8 percent currency adjusted and 91.2 percent reported to 1,589.1 million euros. The company said, all regions and product divisions contributed with at least double-digit currency adjusted sales increases. The company added that Americas reported the strongest currency adjusted growth of 181.8 percent, driven by...

8 hours ago

Business

Steve Madden Q2 revenues increase 178.6 percent

Steven Madden, Ltd. reported revenue increase of 178.6 percent to 397.9 million dollars compared to the same period of 2020. The company’s gross margin increased to 42.7 percent compared to 39.1 percent in the same period of 2020. Net income attributable to Steven Madden, Ltd. was 36.9 million dollars or 45 cents per diluted share, compared to...

10 hours ago

Business

Aeffe snaps up remaining 30 percent stake in Moschino

Luxury group Aeffe has taken full control of Italian label Moschino after snapping up the remaining 30 percent of the brand. Aeffe first bought a 70 percent stake in Moschino in 1999 following the death of the brand’s founder, Franco Moschino. Prior to that, and since Moschino’s founding in 1983, Aeffe had been its license partner, responsible...

1 day ago

Business

Gucci drives surge in Kering sales as luxury continues to recover

French luxury group Kering has reported almost doubling revenue for the second quarter of the year amid strong Gucci sales as the luxury industry continues to recover from the pandemic. In the three months to June 30, comparable revenue at the group surged to 4.16 billion euros, up 95 percent from the prior year and 11.2 percent higher than 2019...

Jul. 28, 2021

Business

Lenzing expects FY21 EBITDA to reach 360 million euros

The Lenzing Group has announced that the company recorded a significantly improved development of its operating result in the first half of 2021. The preliminary EBITDA more than doubled year-on-year to 217.8 million euros compared to 95.6 million euros in the first half of 2020. The company said in a statement that the currently positive...

Jul. 28, 2021

Business |ANALYSIS

Luxury concentration race accelerates with LVMH investments in Off-White and Etro

Amongst latest efforts conducted by LVMH to solidify their dominance in the luxury space, Bernard Arnault’s emporium has just announced the acquisition of a majority stake (60 percent) in Etro through their investment company L Catterton. The acquisition is expected to be completed by the end of this year. Just days apart, LVMH was making it...

Jul. 27, 2021

Business

In The Style reports strong full-year sales, returns to profit

British womenswear retailer In The Style has reported soaring full-year revenue as it returned to profit in the 12 months to March 31. The Manchester-based fashion e-tailer, which debuted on the London Stock Exchange’s AIM market earlier this year, reported a 132 percent increase in revenue to 44.7 million pounds as it continued to benefit from...

Jul. 27, 2021

Business

SMCP ‘cautiously optimistic’ as sales continue to improve

French fashion group SMCP has reported soaring revenue in the second quarter of the year as it narrows in on 2019 sales levels. The group, whose portfolio includes brands Sandro, Maje, Claudie Pierlot and De Fursac, reported sales of 229.4 million euros in Q2, an increase of 59.1 percent on a reported basis and 61.1 percent on an organic basis...

Jul. 27, 2021

Business

Fashion & leather goods segment drives strong sales and profit growth at LVMH

LVMH Moët Hennessy Louis Vuitton recorded revenue of 28.7 billion euros in the first half of 2021, up 56 percent compared to the same period in 2020. The company said in a statement that organic revenue growth was 53 percent compared to 2020 and 11 percent compared to 2019 reflecting accelerated growth in the second quarter, which saw organic...

Jul. 27, 2021