Articles by Prachi Singh
Based in India, Prachi has been associated with FashionUnited for over a decade as freelance editor-finance. She did BA in English Literature from Goa University and then did a diploma in journalism from Xavier Institute of Communications, Bombay. After actively working for various publications in the fashion/apparel and textile space in India, she covers financial reporting, mergers & acquisitions and new appointments at FashionUnited.
Sainsbury's Q1: Tu Clothing outperforms with 8 percent sales increase
Sainsbury's has reported a robust start to its financial year, with total retail sales (excluding fuel) up 4.9 percent in the 16 weeks to June 21, 2025. This strong performance was underpinned by significant gains in its grocery division and a notable surge in its clothing arm, Tu Clothing. Tu Clothing sales saw an 8 percent year-on-year growth,...
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Clarks announces strategic overhaul after challenging 2024
C&J Clark Limited, the parent company of the iconic footwear brand Clarks, navigated a challenging and transitional year in 2024, marked by leadership changes and a complex global economic environment. The company reported a statutory turnover of 901.3 million pounds, a 9.4 percent decrease from the previous year, and a loss after tax of 39.3...
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Nike's 'Sport Offense' strategy aims to reposition business after sharp revenue decline
Nike announced its financial results for the fourth quarter and full year, which concluded on May 31, 2025. The athletic footwear and apparel giant reported full-year revenues of 46.3 billion dollars, marking a 10 percent decrease on a reported basis. The fourth quarter similarly saw a downturn, with revenues reaching 11.1 billion dollars, down...
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Ulta Beauty announces interim CFO appointment, reaffirms 2025 guidance
Ulta Beauty, Inc. announced a change in its executive leadership, naming Chris Lialios, the company’s senior vice president – controller, as interim chief financial officer, effective immediately. Lialios steps into this role following the departure of Paula Oyibo. The beauty retailer has initiated an external search for a permanent successor,...
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Ralph Lauren appoints Angela Ahrendts as lead independent director
Ralph Lauren Corporation has named Angela Ahrendts as the new lead independent director, effective after the company's 2025 annual meeting of shareholders. Ahrendts, who joined the Ralph Lauren board in August 2018, currently chairs the finance committee and serves on the nominating, governance, and sustainability committee. Commenting on the...
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Matalan's EBITDA rises despite sales decline amidst challenging market
Matalan, the UK-based omnichannel fashion and homeware retailer, has reported a 9 percent dip in full-year sales to 985 million pounds. However the strategic emphasis on driving profitability resulted in a 6 percent year-on-year increase in EBITDA to 56 million pounds for the year ended February 22, 2025, with an 11 million pounds improvement in...
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Vince Q1 2025: Sales decline, focus on supply chain diversification
American luxury apparel retailer Vince Holding's results for the first quarter ended May 3, 2025, highlighted the company's swift actions in response to a challenging and uncertain economic landscape. For the first quarter of fiscal 2025, total company net sales decreased by 2.1 percent to 57.9 million dollars. This decline was primarily...
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Asos announces CFO transition: Aaron Izzard to replace Dave Murray
Online fashion retailer Asos has announced a significant leadership transition set to take effect on July 1, 2025, with Aaron Izzard stepping into the role of chief financial officer and executive director. He succeeds Dave Murray, who will be departing the company to pursue new opportunities after a handover period. This strategic appointment...
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Tesco's F&F clothing brand launches online after strong Q1
Tesco announced strong performance across its operations for the first quarter of fiscal 2025, with notable growth in its non-food and clothing segments. Total sales for the quarter of 16.4 billion pounds, increased by 5.5 percent. In the UK, Tesco experienced significant momentum in non-food categories. Non-food sales, excluding toys, increased...
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Guess Q1: Rag & Bone acquisition boosts revenue, net loss widens
Guess financial results for the first quarter ended May 3, 2025, revealed a complex picture of growth driven by strategic acquisitions and wholesale momentum, set against a backdrop of increased losses. Despite a GAAP net loss for the quarter, the company's revenue surpassed expectations, primarily attributed to the successful integration of the...
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