Articles by Prachi Singh
Asda co-owner Mohsin Issa steps down from executive role
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Struggling British supermarket chain Asda has announced that Mohsin Issa is stepping back from his executive leadership role to focus on his previously announced responsibility as sole CEO of EG Group. The company said in a release that Stuart Rose will assume Issa’s executive responsibilities alongside Rob Hattrell until a new CEO is recruited....
Footasylum posts strong FY24 trading results
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Footasylum’ revenues for the full financial year increased by 7 percent to 319.5 million pounds, while online sales were up 15 percent to 134.9 million pounds and now account for 42.2 percent of total sales. In March, the company appointed David Pujolar as CEO, who has previously worked at AW Lab, Adidas, Foot Locker and Tommy Hilfiger. “We are...
JD Sports remuneration committee chair to step down in November
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Suzi Williams, non-executive director and chair of the remuneration committee of JD Sports Fashion Plc has decided to step down on November 1, 2024 having completed the foundational phase of remuneration governance change for the group. Commenting on Williams’ resignation, Andy Higginson, JD Sports Fashion’s chair said in a statement: "Suzi is a...
AllSaints achieves robust EBITDA growth
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Contemporary fashion brand AllSaints reported a marginal revenue increase of 0.6 percent to 459.5 million pounds for the year to February 3, 2024. However, gross profit margin for the year under review increased to 63 percent, pre-operating exceptional EBITDA rose 18 percent to 68.9 million pounds and post-operating exceptional EBITDA was up 26...
THG's H1 revenues grow, mulls demerger of Ingenuity
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THG Group revenue of 911.1 million pounds, increased by 2.2 percent in the first six month period, with 6 percent growth in beauty and external Ingenuity helping offset online nutrition. The company’s UK revenues grew strongly by 9.9 percent. As a part of THG's stated strategy to maximise shareholder value, the group is actively undertaking...
Bimba y Lola maintains growth momentum in H1
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Bimba y Lola maintained its sales growth in the first of this financial year, with a 3 percent increase over the previous year. The brand continued to develop its store network during the period under review, which reached 295 points of sale. The company already enjoys online presence in 37 countries. The company said in a statement that among...
Vince Holding posts Q2 net sales growth of 6.8 percent
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Vince Holding’s net sales increased 6.8 percent to 74.2 million dollars driven by a 7 percent increase in Vince brand sales due to a 29.6 percent increase in the wholesale channel. The company said in a release that the growth in the wholesale channel more than offset the 18.1 percent decline in the direct-to-consumer channel which continued to...
JD Sports appoints Prama Bhatt as non-executive director
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JD Sports Fashion Plc has appointed Prama Bhatt to the board as a non-executive director, with effect from September 23, 2024. Bhatt, the company said, will join the nominations and the remuneration committees along with the board of JD's US subsidiary, Genesis Holdings Inc. Commenting on Bhatt’s appointment to the board, Andrew Higginson, chair...
Lolë acquires cycling and sports brands owned by Louis Garneau Sports
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Athletic wear brand Lolë has announced the acquisition of Louis Garneau Sports, a known company in the field of cycling and sports equipment with three brands: Garneau, Sugoi and Sombrio. The company said in a release that the strategic acquisition marks an important step in Lolë's expansion and strengthens its position in the global sportswear...
Roots chief product officer Karuna Scheinfeld to step down
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Karuna Scheinfeld, chief product officer of Roots Corporation will be stepping down at the end of 2024. The company said in a release that it does not intend to replace Scheinfeld; however, it has commenced a search for senior-level design talent with international experience in the outdoor and active sectors to support these fast growing areas...