Latest articles in Management

Carhatt names Norma Delaney as new Vice President of Brand Marketing & Creative

Workwear brand Carhatt, Inc. has announced the appointment of Norma Delaney as its new vice president of brand marketing and creative. Leveraging over 20 years of global brand marketing experience in the footwear and apparel categories, Delaney is set to lead the development of marketing and creative strategies for Carhartt. In addition, she...

Management

Nike rehires former senior executive to combat declining sales

Sportswear giant Nike has reportedly rehired retired industry veteran Tom Peddie in a bid to overturn declining sales. Nike Inc. is said to have brought back the senior executive to manage its retail partnerships after relationships with several external retailers dampened, according to a recent report from Bloomberg, Peddie, who worked at Nike...

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Dan Sheridan to succeed Jim Weber as CEO at Brooks Running

Brooks Running has announced that its current CEO, Jim Weber, is set to step down from the role after serving 23 years in the position. Dan Sheridan, currently serving as President and Chief Operating Officer, will be appointed as the next CEO of the performance wear brand on April 26, 2024, succeeding him. Weber first joined Brooks’ board of...

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Gap reports positive fourth quarter results

Gap’s fourth quarter net sales of 4.3 billion dollars were up 1 percent, with comparable sales flat year-over-year. Net sales for the full year of 14.9 billion dollars were down 5 percent, while comparable sales down 2 percent. For the fiscal year 2024, the company forecasts net sales to remain flat, gross margin expansion of 50 basis points,...

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American Eagle revenues jump, announces plan to improve profitability

Fourth quarter net revenue at American Eagle Outfitters (AEO) of 1.7 billion dollars rose 12 percent with store revenue growth of 10 percent, while digital revenue increased 19 percent. The company also announced its new Powering Profitable Growth long-term strategy structured to deliver 5.7 to 6 billion dollars in revenue and an approximate 10...

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Abercrombie & Fitch Q4 comparable sales increase 16 percent

Abercrombie & Fitch’s net sales for the fourth quarter of 1.5 billion dollars were up 21 percent on a reported and constant currency basis with comparable sales up 16 percent. Full year net sales of 4.3 billion dollars were up 16 percent on a reported basis and on a constant currency basis, while comparable sales increased 13 percent. Commenting...

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L’Occitane records strong sales momentum in H1

L’Occitane International S.A. reported net sales amounting to 1,072 million euros in the six months period, representing growth of 18.5 percent at reported rates or 24.9 percent at constant rates. The company said that the growth was mainly driven by the outperformance of Sol de Janeiro and the steady growth of L’Occitane en Provence with the...

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Hotter’s Unbound Group to appoint administrators, suspend AIM listing

Following the termination of its formal sale process, Unbound Group has announced the intention to appoint administrators to its main operating subsidiary, Beaconsfield Footwear Limited (OpCo). In a regulatory filing, the company, which owns footwear brand Hotter, said that it was to appoint Will Wright and Rick Harrison of Interpath Advisory...

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JD.com reports record FY revenue, swings to profit

Chinese e-commerce giant JD.com has reported record revenue in its most recent full-year results following strong growth in the final quarter of the year. Net revenue for the 12 months to December 31 was up 9.9 percent to 1,046.2 billion Chinese Yuan (151.7 billion dollars), with net service revenue rising 33.3 percent to 181.2 billion Chinese...

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Express completes partnership deal with WHP Global

Fashion apparel retailer Express, Inc. (EXPR) has announced the completion of a previously announced transaction with WHP Global, a leading global brand management firm. The company’s board of directors has also named Yehuda Shmidman as a Class II director. Express announces completion of agreed transaction with WHP Global The mutually...

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Sellier to acquire competitor Worn in bid to form UK’s largest luxury resale platform

Sellier Knightsbridge has announced the acquisition of luxury resale platform Worn in a bid to become the UK’s largest luxury reseller. Through an asset sale via cash, the acquisition will bring together the two companies, both of which serve a similar high-net worth consumer base. Worn’s buyers and sellers will be onboarded onto the Sellier...

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Richemont posts strong Q1 sales despite Mainland China restrictions

Swiss luxury giant Richemont reported a 20 percent increase in sales on a reported basis in the first quarter of the year despite the impact of Covid restrictions in Mainland China. The group, whose portfolio includes Yoox Net-a-Porter (YNAP), Chloé, and Cartier, posted sales of 5.264 billion euros in the three months to June 30, up from 4.397...