Frasers Group has announced that it has completed the disposal of a number of its freehold and long leasehold retail parks held by its wholly owned subsidiaries. The JD Sports owner said the sale went ahead for a headline price of 205 million pounds. In a release, the company said brands in its portfolio will continue to operate from leases...
12 Aug 2022
Parade, a direct-to-consumer underwear brand, has reportedly entered into a 200 million dollar valuation following its latest round of funding. The news is according to the brand’s founder and CEO Cami Téllez, who told WWD about the new fundraising at the recent Femmy Awards in New York City, during which Parade won the ‘rising star award’....
Online retailer Zalando is one of the leading destinations for fashion and lifestyle in Europe. The Berlin-based company serves 25 European markets with an overall consumer base of around 49 million. With its Platform Strategy at its centre, namely the marketplace model and connected retail, Zalando aims to achieve international growth by...
The CEO of fashion retailer Next has announced he will be stepping down from his role on the board of food delivery company Deliveroo. In a release, Simon Wolfson, who has served on Deliveroo’s board for 18 months, said: “After much consideration, and with regret, I believe that the time required to continue in my role at Deliveroo is no longer...
Fish leather manufacturer Inversa has announced that designer Yotam Soloman will be joining its Advisory Board. Solomon, a former creative director and fashion designer of carbon negative fashion brand Covalent, is aiming to provide strategic guidance and support as the company continues to grow, it said in a release. Inversa hopes that Soloman’...
American retailer JCPenney has announced the appointment of Stephanie Plaines as its chief financial officer, effective immediately. Plaines will be responsible for leading all financial activities across the company, including financial strategy, real estate, capital deployment and accounting. She has also been tasked with utilising her past...
Poshmark, Inc. posted net revenues of 89.1 million dollars in the second quarter of 2022, which is a 9 percent year-over-year increase from the second quarter of 2021. Gross merchandise value (GMV) grew 8 percent to 483.5 million dollars, up from 449.6 million dollars in the same period last year. “We reported a strong quarter despite a tough...
There was no sign of a summer slump in terms of sustainability, on the contrary: in July, several studies were published that provided us with plenty of reading material during the hot days, for example on the ubiquitous topic of greenwashing, but also on textile recycling and consumption. On brand and resale side, there was quite some activity...
Restoque’s gross revenue in the second quarter equaled 333.4 million Brazilian real, increasing 35.5 percent compared to the second quarter of 2021 and 3.2 percent compared to the same quarter in 2019, despite a reduction in the store base of 24 percent. The company’s consolidated gross margin reached 64.3 percent, up 1170 bps, while EBITDA in...
Faire, the online wholesale marketplace for independent retailers and brands, is launching a showroom experience to easily allow retailers to discover and source premium brands and apparel available on the platform. The launch aims to level the playing field for independent retailers and help brands reach new customers around the world, as Faire...
11 Aug 2022
HanesBrands Inc. net sales of 1.51 billion dollars decreased 238 million dollars or 14 percent, over prior year. Adjusting for the 38 million dollars unfavourable impact from foreign exchange rates, net sales decreased 11 percent on a constant currency basis, while net sales, excluding PPE, increased 75 percent on a two-year stack basis. The...
Second quarter comparable store sales at Dillard’s Inc., were flat, while net sales were 1.589 billion dollars compared to 1.570 billion dollars in the second quarter of the previous year Total retail sales for the 13-week periods were 1.553 billion dollars, up 1 percent from the second quarter last year. Net income reached 163.4 million dollars...
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