Articles by Jan Schroder
Geox closes subsidiaries in China and the US
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The Italian shoe manufacturer Geox SpA is streamlining its business activities. On Thursday, the group announced the closure of its subsidiaries in China and the US at the end of the year. Both companies had only made insignificant contributions to sales and were in the red, Geox said, adding that the measures were aimed at increasing efficiency...
Jack Wolfskin parent company Topgolf Callaway slips into the red in third quarter
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US retail group Topgolf Callaway Brands Corp. has closed the third quarter of the 2024 fiscal year with a drop in sales and red figures. The company, which includes the German outdoor equipment retailer Jack Wolfskin, subsequently lowered its annual forecasts, as management further confirmed plans to divest from the Topgolf golf simulator...
After sales decline in the second quarter, Canada Goose lowers forecasts
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Clothing retailer Canada Goose Holdings Inc. suffered a slight decline in sales in the second quarter of the 2024/25 fiscal year. Profits only rose due to special factors, leaving management more cautious for the rest of the year. According to an interim report published on Thursday, sales in the three months up to September 29 amounted to 267.8...
Esprit's US subsidiaries file for bankruptcy
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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...
LVMH says Q3 sales fell 4.4 percent to 19 billion euros
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The French luxury goods group Moët Hennessy Louis Vuitton (LVMH) also suffered a decline in sales in the third quarter of the 2024 financial year. With its results published on Tuesday evening, the group fell short of market expectations. In the period from July to September, group sales amounted to just under 19.1 billion euros. This...
Loewe increases annual profit by more than 60 percent
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The Spanish fashion house Loewe is currently experiencing a boom. The label, which belongs to the French luxury goods giant LVMH, recently took the top spot in the Lyst Index, the ranking of the world's most sought-after fashion brands. In addition to this, the Spanish company has also been doing extremely well financially. On Monday, the...
Patagonia announces job cuts following organisational review
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US outdoor equipment manufacturer Patagonia is laying off numerous employees as part of a reform of its personnel structure. "We have had to make the sad and difficult decision to say goodbye to 41 of our colleagues," said CEO Ryan Gellert in a LinkedIn post that the company published on its website last week. As such, Patagonia has laid off 1...
Zalando bundles partner offers
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The Berlin-based e-commerce group Zalando SE has combined the service offerings for its partners on a single platform. On Wednesday, the company presented the new portal "Zalando Partner". Through this, partner companies have "access to a website that offers understandable information on Zalando's partnership models in a uniform appearance,"...
More than “traditional sponsorship”: Snipes becomes partner of Paris Saint-Germain
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The retail chain Snipes will soon have a prominent presence in top-level football. On Monday, the sneaker and sportswear retailer, which is part of the Deichmann Group, announced that it will be collaborating with the top French club Paris Saint-Germain (PSG) as an Official Culture & Community Partner. As part of the agreement, which is...
Despite sales increase, Mytheresa reports higher annual loss
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Munich-based fashion retailer Mytheresa closed the 2023/24 financial year with a solid increase in sales. However, its loss was significantly higher than in the previous year. This is evident from the current annual report, which the listed holding company MYT Netherlands Parent BV published on Thursday. In the financial year to the end of June,...