Executive Report news and archive

Deichmann UK turnover increases by 14 percent in 2023

European shoe retailer Deichmann has reported a UK turnover of 139.1 million pounds for last year with a 14 percent increase versus 2022. The company said in a release that 2023 marked the 110th corporate anniversary of the family-owned company and Deichmann remains optimistic about the future growth of the business. Commenting on the full year...

Business

Boot Barn Q2 sales increase, CEO transition plan outlined

Second quarter results for Boot Barn Holdings showed promise for the footwear retailer, and came as it outlined its leadership transition plan for the months ahead. For the quarter ended September 28, 2024, the company reported a net sales growth of 13.7 percent over the prior-year, amounting to 425.8 million dollars, while its net income came...

People

Good American names Paul Griffin president

Good American, the denim-focused brand co-founded by Khloé Kardashian, has appointed Paul Griffin to the role of president. Griffin confirmed the news in a post on LinkedIn, where he said he was “looking forward to leading the team in the next chapters of growth across DTC, wholesale and retail, both domestically and internationally”. He joins...

Business

Esprit's US subsidiaries file for bankruptcy

Following the collapse of activities in key European markets, the wave of bankruptcies at clothing retailer Esprit Holdings Ltd. has continued. On Monday, the group announced that its US subsidiaries Esprit US Distributions Limited (USDS) and Esprit US Retail Inc. (USRI) filed for bankruptcy on October 25. According to the company, USDS is...

Business

Forget China, Chanel exec warns of luxury fatigue risk

A slowdown in the key Chinese market is currently lashing the financial performance of luxury houses but a Chanel executive warned Monday it faces an even greater risk from oversaturation and "luxury fatigue". Frederic Grangie, head of the watch and jewellery division at Chanel, told the Swiss daily Le Temps that 2025 and 2026 will be...

People

James Conroy to succeed Barbara Rentler as Ross Stores CEO

Ross Stores has announced today that James Conroy will succeed Barbara Rentler as the company’s new CEO effective February 2, 2025. The company said in a release that Conroy will join the company on December 2, 2024 as chief executive officer elect, when he will also become a member of the board of directors, reporting to executive chairman...

People

Levi Strauss names Dario Aguilar as MD, Latin America

Levi Strauss & Co. has appointed Dario Aguilar as the managing director for Latin America, effective December 2, 2024. Reporting to EVP and chief commercial officer Gianluca Flore, the company said, Aguilar will be responsible for overseeing the commercial operations in the region across channels. “I am pleased to welcome Dario to our commercial...

People

Susie Kuhn to join Wolverine Worldwide as Active Group president

Wolverine Worldwide has announced the appointment of Susie Kuhn as president of the company’s Active Group, effective October 28, 2024. She will report to Chris Hufnagel, president and CEO of Wolverine Worldwide, and serve on the company’s executive team. Kuhn, the company said in a statement, will be responsible for leading successful brand...

Business

VF posts Q2 profit, sales decline by 6 percent

Second quarter revenue at VF Corporation of 2.8 billion dollars, was down 6 percent, The North Face declined by 3 percent or 4 percent in constant dollars and Vans declined by 11 percent versus the same quarter last year. However the company reported earnings per share of 52 cents and adjusted EPS of 60 cents. Commenting on the second quarter...

BusinessFeatured

French luxury titans see wealth decline

LVMH chief Bernard Arnault is no longer the world’s wealthiest man. As the luxury sector grapples with a China slowdown, three of France’s billionaires — Bernard Arnault, L’Oréal’s Francoise Bettencourt Meyers and Kering’s Francois Pinault — are seeing their fortunes dwindle as "restraint replaces indulgence," reports Bloomberg. Their combined...

People

The RealReal appoints new CEO, ups FY24 profit guidance

Luxury resale platform The RealReal has announced the appointment of Rati Sahi Levesque as its new president and chief executive officer, effective immediately. Levesque currently serves as president and chief operating officer at the company, but will now succeed John Koryl, who has departed and no longer serves on The RealReal’s board....

Business

New Look revenues decline amid tough trading conditions

New Look’s accounts for the full year show that total revenue declined to 735.4 million pounds due to store closures and tough trading conditions. The company’s operating profit rose to 17.4 million euros but adjusted Ebitda decreased to 46.7 million pounds following reduction in year-on-year sales but boosted by targeted cost savings. The...