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.
Resilient footwear sales power Truworths UK's growth
Truworths UK, which operates footwear retail subsidiaries through its 'Office' and 'Offspring' stores, reported sales of 294.3 million pounds (380 million dollars) for the year ending June 30, 2024. This represents an increase from the previous year, with EBITDA also rising significantly to 117.5 million pounds. In its filing with Companies...
BusinessMember24 Mar 2025
Nike struggles amid sales slump and layoffs, forecasts margin pressure
Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...
BusinessMember21 Mar 2025
Record profit for Footasylum: Strategic initiatives drive success
Sportswear retailer Footasylum has reported a 9.4 percent increase in revenue to 349.5 million pounds (453.5 million dollars) for FY25, according to its unaudited results. Underlying EBITDA for the year rose 26 percent to 28.2 million pounds, operating profit increased 123 percent to 23.3 million pounds and pre-tax profit jumped 188 percent to...
BusinessFeaturedMember20 Mar 2025
The Children's Place strengthens leadership team with key appointments
The Children’s Place is bolstering its executive team with the strategic appointments of a new chief financial officer and heads of sourcing and marketing. Effective March 31, 2025, John Szczepanski, former CFO of Vince Holding Corp. and a veteran of Ralph Lauren, will assume the role of CFO, reporting to president and interim CEO Muhammad...
People18 Mar 2025
Asda Rollback: momentum up, profitability still a hurdle
Britain’s supermarket chain Asda’s performance for the year to December 31, 2024 was marked with a revenue decline of 0.8 percent to 21.7 billion pounds, while like-for-like sales were down 3.4 percent. Facing increased competition from Tesco, Aldi, and Lidl, which resulted in market share losses, Asda has launched a "Rollback to Asda Price"...
Business17 Mar 2025
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...
People14 Mar 2025
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,...
People14 Mar 2025
John Lewis prioritises employee pay and business growth over staff bonus
John Lewis recorded profit growth of 73 percent to 97 million pounds (125.6 billion dollars) for the year ending on 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 transformation and...
BusinessFeaturedMember13 Mar 2025
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...
BusinessMember13 Mar 2025
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...
BusinessFeaturedMember13 Mar 2025