Executive Management news and archive

Movopack secures funding to launch circular e-commerce packaging in the UK

Movopack, the Italian-based company providing e-commerce platforms with circular and sustainable packaging, has raised a 2-million-pound seed funding round to support its official launch in the UK. The funding round was led by early-stage investor 360 Capital, with participation from Greiner Innoventures and Techstars, and will be used to “...

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Dr Martens swings to loss for half year, new CEO start date confirmed

Footwear specialist Dr Martens has swung into the red as its revenue for the half year plunged deeper. For the 26 weeks ended 29 September 2024, revenue dropped 18 percent on actual exchange rates, amounting to 324.6 million pounds. Adjust EBIT, meanwhile, fell into a loss of 4.3 million pounds compared to a profit of 39.7 million pounds in the...

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McArthurGlen reports “record-breaking” sales in 2024

McArthurGlen Group, Europe’s leader in designer outlet retailing, has reported record-breaking sales in 2024, with a turnover growth of 7 percent year-to-date. In a statement, McArthurGlen, which operates 24 centres across Europe and Canada, said the 7 percent increase in turnover built upon the previous year’s double-digit growth was driven by...

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Urban Outfitters registers strong growth in Q3 sales and earnings

Urban Outfitters announced third quarter net income of 102.9 million dollars and earnings per diluted share of 1.10 dollars. For the nine months, net income was 282.2 million dollars and earnings per diluted share were 2.99 dollars. The company’s net sales for the quarter increased 6.3 percent to 1.36 billion dollars. “We are pleased to announce...

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Guess reports Q3 loss, forecasts earnings below analysts' estimate

For the third quarter, Guess recorded a GAAP net loss of 23.4 million dollars and GAAP diluted net loss per share of 47 cents. Adjusted net earnings were 17.7 million dollars, down 35 percent, while adjusted diluted EPS decreased 31 percent to 34 cents. Net revenue for the quarter increased 13 percent to 738.5 million dollars. In constant...

Wolverine World Wide names Mike Maloney Chief Product Officer

The Work Group of Wolverine World Wide, Inc, the parent company of Wolverine, CAT, Sweaty Betty and Hush Puppies among others, has appointed industry veteran Mike Maloney as its new chief product officer. In his new role, Maloney will lead product development, merchandise strategy, and market expansion initiatives for all brands within the Work...

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Abercrombie & Fitch posts ‘record’ Q3 sales, appoints new CFO

American retail giant Abercrombie & Fitch has reported “record” sales for the third quarter of the current fiscal year, reaching 1.2 billion dollars at an increase of 14 percent on the same period of the year prior. Based on what it said was an “outperformance”, the retailer has thus increased its full year outlook. For the three months ended...

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Capri chairman to become Michael Kors CEO, among other leadership shifts

Luxury group Capri Holdings Limited has administered a series of shifts to the leadership team of its brand, Michael Kors. The most notable change is that its own chairman and chief executive officer, John Idol, is to assume the role of chief executive for the premium brand, a position he will officially take up from December 2, 2024. Idol will...

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Macy’s delays Q3 results after discovering employee hid millions in expenses

Macy’s has delayed its third quarter results after discovering that one of its employees hid nearly 132 million dollars to 154 million dollars in delivery expenses over the last three years. The company’s net sales for the quarter decreased 2.4 percent to 4.742 billion dollars, with comparable sales down 2.4 percent on an owned basis and down...

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Primark cuts carbon emissions across its value chain

Value fashion and homeware retailer Primark reports that it has cut carbon emissions across its value chain, three years after it published its 2030 sustainability commitments, after switching to renewable and low-carbon energy. Primark said in its annual ‘Sustainability and Ethics Progress Report’ that its decarbonisation programme is beginning...

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Shoe Carnival's Q3 comparable sales decline by 4.1 percent

Shoe Carnival’s net sales in the third quarter declined to 306.9 million dollars. The company said, without the impact of the retail calendar shift, net sales increased by 2.2 percent versus prior year. Comparable store net sales for the thirteen-week period ended November 2, 2024 declined 4.1 percent. “Our Back-to-School results were strong,...

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Gap registers positive Q3, lifts outlook

Gap’s third quarter net sales of 3.8 billion dollars were up 2 percent compared to last year and comparable sales were up 1 percent year-over-year. As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. "I'm proud that...