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.
Iconix Brand Group Q3 revenues decline, swings to loss
Iconix Brand Group for the third quarter ended September 30, 2019 reported revenue of 35.5 million dollars, a 23 percent, as a result of the transition of its Danskin and Mossimo direct to retail licenses in the women’s segment and the effect of the Sears bankruptcy on Joe Boxer and Bongo brands in women’s and the Cannon brand in home. The...
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John Lewis fashion sales improve by 2.4 percent
Total sales at John Lewis, for the week to November 9, 2019, were down 2.3 percent on the same week last year but the company said in a statement that customers enjoyed shopping promotions across lighting, fashion and beauty. Fashion sales for the week were up 2.4 percent, while beauty, wellbeing & leisure sales were up 11.6 percent as the...
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Q3 net loss widens at Sequential Brands Group
Third quarter revenues at Sequential Brands Group, Inc. were 25.4 million dollars compared to 29.5 million dollars in the prior year quarter. On a GAAP basis, net loss was 18.4 million dollars or 28 cents per diluted share compared to 10.5 million dollars or 16 cents per diluted share. Non-GAAP net loss for the quarter was 0.9 million dollars or...
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Hudson's Bay Company sells Lord + Taylor to Le Tote
Hudson’s Bay Company (HBC) has announced completion of the sale of Lord + Taylor to Le Tote, Inc., a fashion rental subscription service, for 99.5 million Canadian dollars (75 million dollars) in cash and a secured promissory note for 32.2 million Canadian dollars (25 million dollars) payable in cash after two years, subject to customary...
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Brunello Cucinelli nine months revenues increase by 8.8 percent
Net revenues at Brunello Cucinelli, for the first nine months of 2019 totalled 459.2 million euros (507 million dollars), a rise of 8.8 percent at current exchange and 7.7 percent at constant exchange rates compared to last year. Commenting on the preliminary update, Brunello Cucinelli, the company’s Chairman and CEO, said in a statement: “We...
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Tod's posts 4 percent revenue drop in the first nine months
Tod’s SpA sales for the first nine months of 2019 were 677.7 million euros (748.7 million dollars), down 4 percent from the same period of 2018. Retail revenues for the period totalled 466.5 million euros and represented 70 percent of the group’s turnover. In the third quarter, this channel grew by 8 percent, driven by the sound double-digit...
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Gap CEO Art Peck to step down amid falling sales
The Gap Inc. has announced that its President and Chief Executive Officer Art Peck will step down from his position and from the company’s board after a brief transition. Effective immediately, the company added, Robert J. Fisher, the company’s current non-executive chairman of the board, will also serve as president and chief executive officer...
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Superdry posts sharp decline in H1 revenues
In a trading update for the first half year, Superdry Plc said, revenues declined 11.3 percent to 367.8 million pounds (473.2 million dollars), reflecting an expected year of reset, and the need to address a number of legacy issues across the business. The company’s retail sales decline moderated through first half, with Q2 store revenue down...
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Lenzing Q3 net profit declines by 15.6 percent
The Lenzing Group’s revenues in the third quarter amounted to 1.62 billion euros (1.79 billion dollars), down 1.1 percent, which the company said were achieved despite the steep decline in prices for standard viscose. However, the company added that share of specialty fibers in revenue, at 49.8 percent, significantly exceeded the prior-year...
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Mothercare's UK business falls into administration
As announced by the company earlier, baby products retailer Mothercare plc has appointed Zelf Hussain, Toby Banfield, and David Baxendale of PricewaterhouseCoopers LLP as administrators to Mothercare UK and Mothercare Business Services Limited (MBS), with effect from November 5, 2019. Commenting on the development, Clive Whiley, Chairman of...
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