Articles by Prachi Singh
L’Occitane Group CEO Laurent Marteau steps down
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The L’Occitane Group CEO Laurent Marteau has decided to step down from his role effective September 16, 2024. The company said in a statement that Marteau’s resignation reflects his desire to focus more on his personal pursuits as well as other business interests. The company’s board has established an office of the chief executive whose members...
Canada Goose to launch eyewear collection with Marchon
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Marchon Eyewear and Canada Goose have entered an exclusive, long-term global licensing agreement to develop the first-ever Canada Goose eyewear collection, which will roll out globally beginning Spring 2025. "In our ongoing effort to add world class partners to our portfolio of brands, we are excited to welcome Canada Goose and bring their...
Reitmans grows Q2 net earnings by 17.2 percent
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Reitmans second quarter net revenues increased by 0.9 million Canadian dollars or 0.4 percent to 215.5 million dollars despite operating 16 less stores. Comparable sales, which include e-commerce net revenues, increased by 3.5 percent. The company said that although Canadian consumers continued to tighten discretionary spending, net revenues...
CarMax CEO William Nash joins eBay board of directors
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eBay Inc. has announced the appointment of William (Bill) D. Nash to its board of directors, effective September 18, 2024. The company said in a release that Nash is president and chief executive officer of CarMax, the largest retailer of used cars in the US, which includes its CarMax Auto Finance (CAF) subsidiary. He oversees all aspects of the...
OVS increases sales and profitability in H1
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Net sales at OVS of 761.7 million euros, increased by 3.6 percent in the first six month period of 2024, despite unfavourable weather conditions in May and June due to the strong recovery during July. The company achieved strong results in the young segment, with the B.Angel more than doubling sales in two years, while the beauty offering,...
Target appoints Jim Lee as chief financial officer
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Target Corporation has appointed Jim Lee as chief financial officer and a member of its leadership team effective September 22, 2024. In his new role, Lee, the company said in a release, will be responsible for financial planning and analysis, finance capabilities, internal audit, accounting, investor relations, treasury, tax, risk, financial...
Anya Hindmarch posts sales and profit growth
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A.S.H.S. Limited operating under the trading name Anya Hindmarch reported sales at 24.1 million pounds, up 18 percent for the full year. Gross profit for the year under review increased by 20 percent to 14.5 million pounds, EBITDA reached 0.1 million pounds versus loss of 0.7 million pounds in the previous year, while operating loss contracted...
Next lifts full year profit outlook by 15 million pounds
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Next brand full price sales during the first six months increased by 4.4 percent and total group sales were up 8 percent to 2.9 billion pounds, while the company’s profit before tax of 452 million pounds, was up 7.1 percent. Full price sales over the first six weeks of the second half rose by 6.9 percent and Next now anticipates second half...
Zegna Group revenues increase but profit dips
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Ermenegildo Zegna Group’s profit declined to 31.3 million euros in the first half period and adjusted EBIT to 80.9 million euros compared to the previous year. Revenues for the period of 960.1 million euros, were up 6.3 percent but down 2.7 percent on an organic basis. Commenting on the trading results, Ermenegildo “Gildo” Zegna, group chairman...
Asda co-owner Mohsin Issa steps down from executive role
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Struggling British supermarket chain Asda has announced that Mohsin Issa is stepping back from his executive leadership role to focus on his previously announced responsibility as sole CEO of EG Group. The company said in a release that Stuart Rose will assume Issa’s executive responsibilities alongside Rob Hattrell until a new CEO is recruited....