Articles by Prachi Singh
Ecommerce Europe appoints Gero Furchheim as president
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Ecommerce Europe has elected Gero Furchheim, from the German association BEVH, as its new president. Furchheim succeeds his predecessor, Wijnand Jongen. “A strong association that actively expands and deepens its network must build bridges between the EU and national levels, while fostering collaboration with associations, businesses, and...
Under Armour reiterates revised FY25 outlook
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At an investor meeting in New York Under Armour reiterated its full-year fiscal 2025 outlook, which it provided with the second-quarter results in November. Key points related to Under Armour's fiscal 2025 outlook included revenue decline at a low double-digit percentage rate, gross margin to increase by 125 to 150 basis points, operating loss...
LPP achieves Q3 revenue growth, outlook positive
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In the third quarter, LPP Group achieved revenues of 5.2 billion Polish zloty, up 19.8 percent year-on-year and by 25.2 percent in constant currencies. The company’s online sales were up 35.7 percent due to the development of mobile apps and a broader product offer dedicated to online stores. The group recorded double-digit revenue growth of...
Brunello Cucinelli raises forecast, projects 11 to 12 percent revenue growth
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Following positive sales in the last few months and of early December, Brunello Cucinelli projects an increase in revenues of 11 to 12 percent for 2024, with growth in the fourth quarter expected to be in line with the outstanding result for the third quarter. Commenting on the year-end update, Brunello Cucinelli, executive chairman and creative...
Vera Bradley’s Q3 revenue and earnings decline
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Vera Bradley’s third quarter net revenues declined to 80.6 million dollars and consolidated net loss reached 12.8 million dollars or 46 cents per diluted share. For the nine month period, net revenues decreased to 272 million dollars and consolidated net loss totaled 15.2 million dollars or 52 cents per diluted share. Commenting on the third...
Lingerie lifestyle brand Mhyth raises angel funding
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Mhyth, a lingerie lifestyle brand founded by techie-turned-entrepreneur Mitali Rai, has raised its angel round of funding, achieving a valuation of over a million dollars within a month of launching. Mhyth, the company said in a release, born in India, aims to set new global benchmarks in the premium fashion lifestyle space, competing with the...
Macy's cuts full year earnings forecast
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Confirming no material impact on its financial results after completion of delivery expense related investigation, Macy’s reported GAAP diluted earnings per share of 10 cents and adjusted diluted earnings per share of 4 cents for the third quarter. Macy’s now projects full year net sales to be in the range of 22.3 billion dollars to 22.5 billion...
J.Jill posts positive Q3, announces CEO Claire Spofford to retire next year
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J.Jill reported third quarter net sales increased 0.3 percent to 151.3 million dollars, while comparable sales, which includes comparable store and direct to consumer sales, decreased by 0.8 percent, negatively impacted by approximately 50 basis points due to hurricane-related disruptions in the quarter. The company also announced that Claire...
Zara owner Inditex posts sales and profit growth
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In the nine month period, Zara owner Inditex recorded sales growth of 7.1 percent to reach 27.4 billion euros. The Spanish group, who also owns other brands such as Massimo Dutti, Pull & Bear and Bershka reported gross profit increase of 7.2 percent to 16.3 billion euros, while gross margin reached 59.4 percent, up 4 bps. The company said in a...
Rent the Runway Q3 revenues up by 4.7 percent
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Rent the Runway reported third quarter revenue of 75.9 million dollars, a 4.7 percent increase year-over-year. For fiscal year 2024, the company expects revenue growth of between 2 percent to 4 percent and adjusted EBITDA margin of 15 percent to 16 percent. “Rent the Runway has realigned our company talent and ways of working this year to be...