Articles by Prachi Singh
Esprit navigates tough 2022, gears up for brand relaunch
31 Mar 2023 - Business
Esprit Holdings Limited reported total sales of 7,063 million Hong Kong dollars and a gross profit margin of 40.7 percent for 2022 fiscal year, down 15 percent and 7.9 percent, respectively. The company faced the challenging fiscal year as it prepares for the official brand relaunch in mid-2023. Commenting on the trading performance, Pak William...
H&M posts Q1 profit, sales increase by 12 percent
30 Mar 2023 - Business
In the first quarter the H&M group’s net sales in SEK increased by 12 percent to 54,872 million Swedish krona. In local currencies the increase was 3 percent. Excluding Russia, Belarus and Ukraine, the company said, the increase was 16 percent in SEK and 7 percent in local currencies. Operating profit amounted to 725 million Swedish krona...
Wolverine places Sweaty Betty under London-based international group
30 Mar 2023 - Business
Wolverine World Wide has announced that Sweaty Betty, the women’s activewear brand acquired in August 2021, will now report into the company’s London-based international group led by Isabel Soriano, which is responsible for the operations outside the US. This move, the company said, “will more closely align Sweaty Betty with Wolverine’s global...
Capri Holdings appoints Bacardi CEO to its board of directors
30 Mar 2023 - Business
Capri Holdings Limited has appointed Mahesh Madhavan to the company’s board of directors effective March 30, 2023. Madhavan, the company said in a statement, will join the compensation and talent committee as well as the governance, nominating and corporate social responsibility committee. As of the date of Madhavan’s appointment, the Capri...
Veste reports 2022 same store sales growth of 32.1 percent
30 Mar 2023 - Business
In 2022, total gross sales revenue at Veste S. A. was 1.3 billion Brazilian real, a 20.3 percent growth compared to 2021. Same store sales (SSS) showed an increase of 32.1 percent in the year, and 8.5 percent in the fourth quarter of 2022. The company said in a release that B2C and B2B channels had a growth of 23.2 percent and 37.8 percent,...
Tony Spring to take over as Macy's Inc. CEO, Jeff Gennette to retire in February
29 Mar 2023 - Business
Macy’s, Inc. has announced that the company’s chairman and chief executive officer Jeff Gennette, 61 plans to retire in February 2024 after serving the company for 40 years. “Serving Macy’s, Inc. over the past 40 years has been a privilege. I’m proud of the exceptional work of our colleagues to strengthen Macy’s, Inc. by successfully executing...
Next posts sales and profit growth
29 Mar 2023 - Business
Full price sales at Next plc were up 6.9 percent versus 2021/22 and up 20.5 percent versus 2019/20. The company said in a release that total trading sales including markdown sales were up 8.4 percent versus 2021/22 and up 20.6 percent versus 2019/20. Next pre-tax profit was 870 million pounds, up 5.7 percent versus 2021/22 and up 16.3 percent...
TJX Companies increases quarterly dividend by 13 percent
29 Mar 2023 - Business
The TJX Companies, Inc. has raised the amount of its quarterly dividend by 13 percent from the last dividend paid. The company’s board declared a regular quarterly dividend in the amount of 0.3325 cents per share, payable June 1, 2023, to shareholders of record on May 11, 2023. Commenting on the dividend increase, Ernie Herrman, chief executive...
Lululemon's Q4 sales jump, aims to double revenues by 2026
29 Mar 2023 - Fashion
Lululemon Athletica Inc. reported fourth quarter net revenue increased 30 percent to 2.8 billion dollars or increased 33 percent on a constant dollar basis. For fiscal 2022, the company’s net revenue increased 30 percent to 8.1 billion dollars or increased 32 percent on a constant dollar basis. The company said in a statement that its Power of...
Marcolin reports sales increase of 20.1 percent in 2022
28 Mar 2023 - Business
For the year to December 31, 2022, Marcolin's net sales amounted to 547.4 million euros, up 20.1 percent compared to the previous year at current exchange and up 13.2 percent at constant exchange rates. "2022 results provide a drive for the company's divisions to elevate our expectations even higher: the year ahead of us is just as challenging,...