Articles by Prachi Singh
Former River Island CEO Will Kernan to join John Lewis board
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John Lewis Partnership has appointed Will Kernan as a non-executive director of the Partnership board, with effect from September 12, 2023. Commenting on Kernan’s appointment to the board, Sharon White, chairman of the John Lewis Partnership, said: "We’re fortunate to have Will’s extensive experience and expertise, which will play a significant...
Pepco expands European footprint, debuts stores in Bosnia and Herzegovina
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Pepco Group, owner of the Pepco and Dealz brands across Europe and Poundland in the UK, opened its first store in Bosnia and Herzegovina. Commenting on the retail expansion plan, Trevor Masters, CEO of Pepco Group, said: “The opening of the first Pepco store in Bosnia and Herzegovina represents a milestone in the group’s profitable store...
Uniqlo Japan August same-store sales increase 7.1 percent
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August 2023 same-store sales including online sales at Uniqlo Japan increased by 7.1 percent, while total sales including online sales increased by 9.7 percent. The company, part of the Fast Retailing Group attributed same-store sales increase in August to persistently hot weather throughout the month that supported strong sales of summer items...
Sneaker brand Hidnander names Adam Kakembo as its first CEO
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Sneaker brand Hidnander has appointed Adam Kakembo as the brand’s first chief executive officer (CEO). The company, founded in 2019, said in a release that Kakembo is a brand builder with an entrepreneurial spirit and a well-regarded figure in the premium luxury and branded goods’ sectors. “This is an exciting time for Hidnander. The brand is...
Oh Polly posts revenue and profit growth
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For the year to April 2023, Oh Polly Group reported revenues of 113 million pounds and a profit before tax (PBT) of 11.2 million pounds. Over the past 12 months, the company said in a statement, Oh Polly achieved a growth rate of over 45 percent through its strategic expansion in the US and Australia. The company added that the success of the...
Tilly’s Q2 comparable sales decrease by 8.5 percent
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Tilly’s, Inc. net sales were 160 million dollars, a decrease of 8.4 million dollars or 5 percent, while comparable net sales, including both physical stores and e-commerce, decreased by 8.5 percent. For the first six months, net sales were 283.6 million dollars, a decrease of 30.5 million dollars or 9.7 percent, while comparable net sales,...
Lands’ End Q2 loss widens, revenues drop
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Lands’ End, Inc. second quarter net revenue decreased 7.9 percent to 323.3 million dollars. The company’s net loss widened to 8 million dollars or 25 cents loss per diluted share and adjusted EBITDA remained flat at 15.8 million dollars. Commenting on the trading update, Andrew McLean, the company’s chief executive officer, said in a release: “...
Lululemon reports strong Q2, expects to double revenues by 2026
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Lululemon Athletica Inc. net revenue increased 18 percent or 20 percent on a constant dollar basis to 2.2 billion dollars. The company's Power of Three ×2 growth plan calls for a doubling of the business from 2021 net revenue of 6.25 billion dollars to 12.5 billion dollars by 2026. The company said in a statement that key pillars of the plan are...
J.Jill posts Q2 sales decline
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Second quarter net sales at J.Jill, Inc. were down 2.9 percent to 155.7 million dollars, while comparable sales, which includes comparable store and direct to consumer sales, decreased by 1.3 percent. Total net sales for the twenty-six weeks were down 3.9 percent to 305.1 million dollars, while comparable sales, which includes comparable store...
Victoria’s Secret reports loss, net sales drop 6 percent
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Victoria’s Secret & Co. reported a net loss of 1 million dollars or 2 cents per diluted share for the second quarter of 2023 compared to net income of 70 million dollars or 83 cents per diluted share. Operating income for the quarter was 26 million dollars compared to 98 million dollars in the second quarter of 2022. The company’s net sales were...