Articles by Prachi Singh
Van de Velde appoints current CFO Karel Verlinde as interim CEO
30 Nov 2022 - Business
Van de Velde has announced that the company’s management is redrawn, with immediate effect. The company’s board of directors has appointed the current CFO Karel Verlinde as interim CEO. The company said in a statement that by mutual agreement Peter Corijn, who served as chief executive officer (CEO) since May 2022, will leave the company. The...
LVMH acquires Italian jewellery manufacturer Pedemonte
28 Nov 2022 - Business
LVMH Group has announced the acquisition of the Pedemonte Group, a jewelry producer present in Italy and France, from the Equinox III SLP SIF investment fund. The company said in a release that the strategic operation for the watches & jewelry division and its jewellery maisons will allow the group to significantly increase its production...
Alia Malik, senior director at Better Cotton joins ICA as board member
25 Nov 2022 - Business
Alia Malik, senior director, data and traceability at Better Cotton has joined the International Cotton Association (ICA) as a new board member. The ICA is an international cotton trade association and arbitral body and was set up 180 years ago in 1841 in Liverpool, UK. “I am delighted to join the board of one of the oldest organisations in the...
Jack Wolfskin appoints executives for the UK and Nordic regions
24 Nov 2022 - Business
Jack Wolfskin has appointed new leaders for the UK and Nordic regions in alignment with its global growth strategy unveiled in 2021. The company said in a release that Steve Rosier was named as the country manager for the UK and Ireland and will mainly be based in the showrooms in Towcester near Northampton and Windermere in the Lake District,...
Designer Brands appoints Rich Paul and Tami Fersko as independent directors
24 Nov 2022 - Business
Designer Brands Inc. has announced two new appointments to its board of directors. On November 17, 2022, the company said in a release, Rich Paul and Tami J. Fersko, were appointed to the Designer Brands board as independent directors, effective immediately. Fersko was also named a member of both the audit committee and the nominating and...
Nordstrom posts Q3 loss, sales decline
23 Nov 2022 - Business
Nordstrom, Inc. reported a third quarter net loss of 20 million dollars and loss per diluted share of 13 cents for the quarter ended October 29, 2022 and adjusted earnings per diluted share of 20 cents. For the third quarter, net sales decreased 2.9 percent versus the same period in fiscal 2021 and gross merchandise value decreased 2.5 percent....
Guess reports steep drop in Q3 earnings
23 Nov 2022 - Business
Guess, Inc. third quarter net earnings of 21.8 million dollars, declined 26.9 percent and GAAP diluted net earnings per share decreased 24.4 percent to 34 cents. The company’s adjusted net earnings were 24.7 million dollars, a 40.4 percent decrease and adjusted diluted EPS decreased 29 percent to 44 cents, compared to the same prior-year...
American Eagle's Q3 sales performance beats expectations
22 Nov 2022 - Business
For the third quarter, American Eagle Outfitters, Inc. net revenue of 1.2 billion dollars was down 3 percent to the third quarter of 2021. A Reuters report said, analysts had expected revenue of 1.21 billion dollars, according to IBES data from Refinitiv. The company said, supply chain business, quiet platforms, contributed approximately 2...
Abercrombie & Fitch reports flat sales growth, announces leadership transition
22 Nov 2022 - Business
Abercrombie & Fitch Co. reported net sales of 880 million dollars, down 3 percent on a reported basis and approximately flat on a constant currency basis. Gross profit rate of 59.2 percent, was down approximately 450 basis points as compared to last year. The company said, net loss per diluted share was 4 cents on a reported basis and 1 cents on...
Dick’s Sporting Goods raises full year outlook
22 Nov 2022 - Business
Comparable store sales at Dick’s Sporting Goods, Inc. increased 6.5 percent on top of a 12.8 percent increase in the third quarter of 2021, a 23.2 percent increase in the third quarter of 2020 and a 6 percent increase in the third quarter of 2019 Net sales of 3 billion dollars increased 7.7 percent versus the third quarter of 2021 and increased...