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.
Myer announces key leadership appointments following Apparel Brands merger
Following its merger with Apparel Brands, Australian department store chain Myer has announced key leadership appointments. Kathy Karabatsas will assume the role of group chief financial officer on March 14, 2025, succeeding Matt Jackman, who departs after eight years to explore new ventures. Karabatsas brings extensive experience from senior...
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Kristine Marvin joins Perfect Moment to lead global legal strategy
Luxury lifestyle brand Perfect Moment has appointed Kristine Marvin to the new position of general counsel. Marvin brings to Perfect Moment more than 28 years of experience in corporate and intellectual property law, compliance and governance for private and public companies. She will be responsible for advancing the company’s legal framework,...
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John Lewis prioritises employee pay and business growth over staff bonus
Retail partnership firm John Lewis recorded profit growth of 73 percent to 97 million pounds (125.6 billion dollars) for the year to January 25, 2025. Despite this profit surge, the company has opted not to reinstate its staff bonus for the third consecutive year. Instead, the partnership plans to invest these gains into strategic business...
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American Eagle forecasts sales decline amid challenging retail environment
Apparel retailer American Eagle anticipates a challenging year ahead, forecasting mid-single-digit sales declines for the current quarter, diverging from analysts' expectations of marginal growth. Full-year projections also point to a low single-digit sales decrease, falling short of consensus estimates. During an analyst call, finance chief...
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Fossil Group taps New CFO to lead turnaround effort after weak Q4
American fashion design and manufacturer, Fossil Group recorded fourth quarter net sales of 342 million dollars, down 19 percent, with sales declines across all regions and all channels. Operating income was 20.1 million dollars or 5.9 percent of net sales and income per share was 39 cents. In response to these results, Fossil Group has...
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Vera Bradley sells Pura Vida, plans cost-cutting measures to drive growth
Fashion, travel and accessories designer Vera Bradley's fiscal year performance reveals a company grappling with its revitalisation efforts, as evidenced by its fourth quarter and full-year financial results amidst a difficult retail environment. Consolidated net revenues for fiscal 2025 fell to 372 million dollars, accompanied by a net loss of...
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Boohoo rebrands as Debenhams Group, appoints Phil Ellis new CFO
British online fashion retailer Boohoo announced on Tuesday that it is rebranding itself as Debenhams Group, marking a significant shift in its business strategy. Alongside the rebranding, the company appointed Phil Ellis as its new chief financial officer (CFO). The decision follows a successful turnaround of the Debenhams brand, which Boohoo...
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Industry expert Tony Lucia to spearhead ULAC Europe and UK operations
New York-based United Legwear & Apparel Co. (ULAC) has appointed Tony Lucia as president of ULAC Europe, including ULAC UK, the company's wholly owned subsidiaries based in the Netherlands and London. In his new role, Lucia will lead the expansion of key brands such as Scotch & Soda, Ted Baker (e-commerce), Hurley, and Skechers. Working closely...
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Victoria's Secret: Economic uncertainty dampens early 2025 projections
Lingerie retailer Victoria’s Secret & Co reported net sales of 2.106 billion dollars for the fourth quarter of 2024, up 1 percent, while comparable sales increased 5 percent. The company’s net income for the quarter increased to 216 million dollars or 2.60 dollars per diluted share and operating income rose to 299 million dollars but as far as...
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Princess Polly parent company a.k.a. Brands records strong Q4 growth
A.k.a. Brands, the owner of a portfolio of fashion brands including Princess Polly, registered a net sales increase of 6.8 percent to 159 million dollars in the fourth quarter of 2024 with net sales in the US up 21.6 percent. The company’s net loss for the quarter narrowed to 9.4 million dollars, or 88 cents per share. For the fiscal year 2024,...
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