Articles by DPA
HanesBrands to elevate strategic options for global Champion business
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HanesBrands, Inc. (HBI) announced Tuesday that its Board of Directors and executive leadership team, with the assistance of financial and legal advisors, are undertaking an evaluation of strategic options for the global Champion business. As part of this process, the Board will consider a broad range of alternatives to maximize shareholder...
HanesBrands in licensing deal with G-III Apparel for Champion and C9 Champion Outerwear
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Basic apparel maker HanesBrands, Inc. (HBI) Thursday said it has entered into a strategic multi-year license agreement for Champion and C9 Champion Outerwear with G-III Apparel Group, Ltd. (GIII). In pre-market activity on Nasdaq, G-III Apparel shares were gaining around 14.5 percent to trade at $22.10. The deal includes design, production and...
L'Oreal H1 profits rise
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Cosmetics and beauty products giant L'Oreal Co. (LRLCY.PK), Thursday reported first-half 2022 net profit excluding non-recurring items of 3.62 billion euros or 6.73 euro per share, up from 3.25 billion euros or 6.05 euro per share last year. Sales for the first half rose 12 percent to 20.57 billion euros from 18.37 billion euros last year. On a...
Estee Lauder hit by cyber attack
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Estee Lauder Companies Inc. (EL) said Tuesday that it has identified a cybersecurity incident, which involves an unauthorized third party that has gained access to some of the Company's systems. The company proactively took down some of its systems and promptly began an investigation with the assistance of leading third-party cybersecurity...
HanesBrands confirms interim CFO Scott Lewis as new CFO
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HanesBrands, Inc. (HBI) announced Tuesday that Interim Chief Financial Officer Scott Lewis has been appointed Chief Financial Officer, effective immediately. Lewis will also continue in his role as Chief Accounting Officer, a position he has held since 2015. Lewis, a 17-year veteran of HanesBrands with an extensive background in accounting, tax,...
Abercrombie & Fitch, Kohl's Q1 results top estimates, while Children's Place missed
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U.S. retailers Abercrombie & Fitch Co. (ANF) and Kohl's Corp. (KSS) reported on Wednesday results for the first quarter that topped analysts' estimates, with Abercrombie & Fitch raising its outlook for the full-year 2023 and Kohl's affirming its guidance for fiscal 2023. Meanwhile, The Children's Place, Inc. (PLCE) reported results that missed...
Crocs shares plunge as Q2 outlook comes below street estimates
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Shares of Crocs, Inc. fell more than 18 percent Thursday morning after the company's second-quarter outlook came in below analysts' view. For the second quarter, Crocs expects adjusted EPS to be in the range of 2.83 - 2.98 dollars. Analysts on average polled by Thomson-Reuters expect earnings of 3.23 dollars per share. Revenue in the second...
Gap to axe around 1,800 jobs
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Gap, Inc., a clothing and accessories retailer, in a filing with the Securities and Exchange Commission, said that it is axing upper field and headquarters workforce by around 1,800, to further simplify and optimize its operating model and structure. Towards this, the company expects to incur about 100 million dollars (about 80 million pounds)...
Adidas wants to win back Chinese consumers with a new strategy
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The sporting goods manufacturer Adidas wants to address its problems in the Chinese market with a greater focus on local conditions. The company is planning more patriotic product lines for the People's Republic, combining international design with traditional Chinese culture. By next year, Adidas wants to design at least 30 per cent of the...
Zalando nominates Kelly Bennett as supervisory board chairperson
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Zalando SE (ZLNDY) said that it has nominated its deputy Chairperson Kelly Bennett as its Supervisory Board Chairperson. He would succeed Cristina Stenbeck, who has decided not to stand for re-election. Bennett has been a member of Zalando's Supervisory Board since 2019 and serves as an advisor to the leadership teams of Microsoft, Strava,...