Articles by Prachi Singh
Based in India, Prachi has been associated with FashionUnited for over a decade as freelance editor-finance. She did BA in English Literature from Goa University and then did a diploma in journalism from Xavier Institute of Communications, Bombay. After actively working for various publications in the fashion/apparel and textile space in India, she covers financial reporting, mergers & acquisitions and new appointments at FashionUnited.
Foot Locker elevates Franklin Bracken to president, advancing Lace Up Plan
Footwear and apparel retailer Foot Locker has appointed Franklin Bracken, currently executive vice president and chief commercial officer, as its new president, effective immediately. Bracken will continue to report to CEO Mary Dillon. In his expanded role, Bracken will collaborate closely with Dillon to expedite the implementation of the...
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Fila boosts shareholder returns following strong 2024 results
Sportswear company Fila Holdings has announced an enhanced shareholder return policy, signalling its commitment to delivering long-term shareholder value. This decision follows a year of robust financial performance, driven by growth in its U.S. golf subsidiary and effective cost management. Consolidated revenue for 2024 reached 4.27 trillion...
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Nike struggles amid sales slump and layoffs, forecasts margin pressure
Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...
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Record profit for Footasylum: Strategic initiatives drive success
Sportswear retailer Footasylum has reported a 9.4 percent increase in revenue to 349.5 million pounds (453.5 million dollars) for FY25, according to its unaudited results. Underlying EBITDA for the year rose 26 percent to 28.2 million pounds, operating profit increased 123 percent to 23.3 million pounds and pre-tax profit jumped 188 percent to...
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The Children's Place strengthens leadership team with key appointments
The Children’s Place is bolstering its executive team with the strategic appointments of a new chief financial officer and heads of sourcing and marketing. Effective March 31, 2025, John Szczepanski, former CFO of Vince Holding Corp. and a veteran of Ralph Lauren, will assume the role of CFO, reporting to president and interim CEO Muhammad...
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Myer announces key leadership appointments following Apparel Brands merger
Following its merger with Apparel Brands, Australian department store chain Myer has announced key leadership appointments. Kathy Karabatsas will assume the role of group chief financial officer on March 14, 2025, succeeding Matt Jackman, who departs after eight years to explore new ventures. Karabatsas brings extensive experience from senior...
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Kristine Marvin joins Perfect Moment to lead global legal strategy
Luxury lifestyle brand Perfect Moment has appointed Kristine Marvin to the new position of general counsel. Marvin brings to Perfect Moment more than 28 years of experience in corporate and intellectual property law, compliance and governance for private and public companies. She will be responsible for advancing the company’s legal framework,...
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John Lewis prioritises employee pay and business growth over staff bonus
John Lewis recorded profit growth of 73 percent to 97 million pounds (125.6 billion dollars) for the year ending on January 25, 2025. Despite this profit surge, the company has opted not to reinstate its staff bonus for the third consecutive year. Instead, the partnership plans to invest these gains into strategic business transformation and...
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American Eagle forecasts sales decline amid challenging retail environment
Apparel retailer American Eagle anticipates a challenging year ahead, forecasting mid-single-digit sales declines for the current quarter, diverging from analysts' expectations of marginal growth. Full-year projections also point to a low single-digit sales decrease, falling short of consensus estimates. During an analyst call, finance chief...
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Fossil Group taps New CFO to lead turnaround effort after weak Q4
American fashion design and manufacturer, Fossil Group recorded fourth quarter net sales of 342 million dollars, down 19 percent, with sales declines across all regions and all channels. Operating income was 20.1 million dollars or 5.9 percent of net sales and income per share was 39 cents. In response to these results, Fossil Group has...
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