Articles by Prachi Singh
Mulberry: H1 losses widen and revenues decline by 19 percent
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British handbag maker Mulberry reported a 19 percent decline in revenues to 69.7 million pounds for the six months to September 30, 2024, while the company’s losses widened by 23 percent to 15.7 million pounds. Mulberry appointed Andrea Baldo as its new chief executive in September. Commenting on the half year trading, Baldo said in a statement:...
Revolution Beauty posts 20 percent sales decline
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For the first half year, Revolution Beauty Group revenue declined by 20 percent to 72.4 million pounds, driven by the planned simplification of the product portfolio and the discontinuation of unproductive SKUs. The company said in a release that the decline also reflects significant stock clearance activity in the first half of FY24. Commenting...
Geox reports 9.7 percent decline in nine month sales
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Italian footwear player Geox reported consolidated sales for the first nine months of 525.5 million euros, down by 9.7 percent or 9 percent at constant exchange rates due to the negative performance of the wholesale channel and franchising, partially offset by the positive trend of the direct digital channel. Commenting on the outlook, the...
Kering appoints new CEOs at Saint Laurent and Balenciaga
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Kering has announced the appointment of Cédric Charbit as CEO of Saint Laurent and Gianfranco Gianangeli as CEO of Balenciaga, effective January 2, 2025. The company said in a statement that both will report to Francesca Bellettini, Kering deputy CEO in charge of brand development, who from then on will be entirely dedicated to the development...
Aeffe returns to net profit of 35.2 million euros in nine months
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The Aeffe Group achieved positive EBITDA for the nine month period at 90.9 million euros with a margin of 43.8 percent on turnover, EBIT was positive for 66.6 million euros with an increase of 78.3 million and net profit amounted to 35.2 million euros compared to a net loss of 17.8 million in 2023. However, revenues of 207.8 million euros were...
Björn Borg records sales and profit growth in the third quarter
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For the third quarter, Björn Borg reported net sales of 285.1 million Swedish krona, an increase of 8.8 percent, while the company’s currency-neutral net sales increased by 10.4 percent. “Our chosen growth market, Germany, continued to develop very positively. During the quarter, we increased our presence with growth of 44 percent,”said Björn...
Caleres hires Nancy Bitetto as senior vice president of New York brands
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Nancy Bitetto has joined Caleres as senior vice president of New York brands, which include Franco Sarto, Vince, Veronica Beard, and private brand offerings. In this role, the company said, Bitetto will focus on accelerating growth and expanding profitability within the Caleres brand portfolio. She will report directly to Jay Schmidt, president...
Lego Group CFO Jesper Andersen joins PVH board of directors
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PVH Corp. has announced the appointment of Jesper Andersen, executive vice president and chief financial officer of the Lego Group, to its board of directors. He has also been appointed to the board’s audit and risk management committee. Commenting on the new addition to the board, Stefan Larsson, PVH chief executive officer, said in a release:...
Mister Spex reports Q3 revenue decline of 3 percent
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European omni-channel optician Mister Spex achieved revenue of 57.8 million euros for the third quarter of 2024, a 3 percent decline compared to the same period last year. The company attributed the sales decline to the closure of international stores in Scandinavia, Austria, and Switzerland as part of the transformation and restructuring...
Burberry posts sharp revenue decline, launches turnaround plan
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Burberry’s first half revenue of 1,086 million pounds declined by 20 percent CER, and 22 percent reported. Retail comparable store sales declined by 20 percent in the first half and the second quarter. Wholesale sales for the period were down 29 percent CER and 30 percent reported. Today, Burberry announced 'Burberry Forward', a strategic plan...