Articles by Huw Hughes
Crew Clothing: Turnover rises, but profits narrow in 2022
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British lifestyle brand Crew Clothing saw its turnover increase 22.5 percent in 2022, with positive growth across both its retail estate and wholesale channel. The company posted turnover of 101.3 million pounds for the 12 months ended December 25, 2022, up from 82.7 million pounds the prior year, according to filings at Companies House. On a...
Crew Clothing: Turnover rises, but profits narrow in 2022
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British lifestyle brand Crew Clothing saw its turnover increase 22.5 percent in 2022, with positive growth across both its retail estate and wholesale channel. The company posted turnover of 101.3 million pounds for the 12 months ended December 25, 2022, up from 82.7 million pounds the prior year, according to filings at Companies House. On a...
C&J Clark International sales, profits in 2022 hit by supply chain issues
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C&J Clark International Ltd - an operating subsidiary of British footwear retailer Clarks - experienced a drop in sales and profit in 2022 as an increase in post-pandemic demand was offset by supply chain disruptions. The company, which has undergone a significant transformation in recent years, generated turnover of 502.8 million pounds in the...
H&M: Q3 profits widen, but warm weather hurts September sales
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Swedish fashion giant H&M has reported a jump in profit in the third quarter, but said recent sales have been hurt by unusually warm September weather across key markets. The group, which owns its namesake label along with Cos, Monki, and Weekday, among others, made a net profit of SEK 3.3 billion (285.1 million euros) in the quarter ended...
Worldly, formerly Higg Co, taps new finance chief
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Data insights platform Worldly, formerly known as Higg Co, has appointed Francois Thrower as its new chief finance officer (CFO) as the company looks to accelerate its “growth and impact”. Tha San Francisco-based company said Thrower’s “extensive financial expertise and strategic experience are invaluable assets, positioning him to help...
Asos reports Q4 sales drop, but remains upbeat on recovery
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British fashion e-tailer Asos, which has been undergoing a turnaround following a spate of losses, saw its sales drop 12 percent on a reported basis in the fourth quarter. Despite that, CEO José Antonio was optimistic of the company’s ongoing recovery, and said the business has become “leaner and more resilient” in the 12 months since launching...
Blake Mill forms advisory board, taps former Ted Baker creative director
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Menswear brand Blake Mill has announced a new advisory board and tapped three board members with respective expertise in fashion, finance, and tech. The Manchester-based brand has appointed Anthony Cuthbertson to its board, the former global creative director of Ted Baker who was responsible for the British label’s creative direction, brand, and...
Mothercare swings to FY loss, expects to complete refinancing 'shortly'
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Maternity and childrenswear specialist Mothercare has reported a loss in its most recent financial year ended March 25. The group, which has undergone a major transformation in recent years, made a net loss of 0.1 million pounds compared to a profit of 12.1 million pounds the prior year. That came as group turnover dropped 11 percent to 73.1...
UK clothing sales rebound in August
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Sales at UK fashion retailers picked up in August following a dip in July linked to poor weather, according to new data. Clothing stores sales volumes rose by 2.3 percent in August, mostly recovering from a fall of 2.9 percent the prior month, according to the latest figures from the Office for National Statistics (ONS). Overall retail sales...
Coty raises FY24 sales outlook on strong demand
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Coty has increased its guidance for the full year after seeing “strong momentum” in demand across key markets and categories, particularly in prestige fragrances. The beauty and cosmetics giant now expects FY24 core like-for-like sales growth of between 8 percent and 10 percent, up from its previous guidance of being at the top end of its...