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Lovisa’s netprofit increased in the first half after the opening of 43 new stores worldwide. The jewellery and accessories retailer’s profit grew 6.5 The company said its continued focus on pricing and promotion management helped expand gross margin to 82.4 Last fiscal year, Lovisa’s netprofit grew 20.9
Universal Store Holdings saw its netprofit surge 45.3 per cent, ongoing rollout of the Perfect Stranger’s retail format, completion and contributions of the Cheap Thrills Cycles (CTC), and the net store count increasing to 102. The post Universal Store’s netprofit surges 45.3 per cent to $34.3
For an all too brief period, the Alceon investment house achieved its ambition to be the largest womens fashion specialty retailer in Australia. million profit on sales of almost $111 million, with the profit certainly an improvement on the previous year. million and netprofits to $17.3 W Lane and BeMe brands.
Hermes has posted double-digit sales growth for the fourth quarter and the full fiscal year, which management described as a solid performance in an uncertain environment. For the full year, revenue rose 13 per cent (15 per cent in constant currency) to 15 billion, and consolidated netprofit increased 7 per cent to 4.6
Luxury fashion retailer Oroton Group says its profit more than tripled on the back of higher sales and stricter cost and inventory management in FY23. The company booked a netprofit of $8.2 million in the 12 months ended July 30, up 3.5 times from last year.
We wanted to create brands that serve the diverse Philippine market and democratise fashion,” she said. “We Like most private companies at the time, only the top executives saw netprofits. They had thought the company was much more profitable all those years, and they were embarrassed to discover the reality,” she recalled.
Myer has flagged a drop in profit for this fiscal year, largely due to underperformance at its three specialty brands amid macroeconomic challenges. The department store chain expects netprofit after tax of between $50 million and $54 million for FY24, compared to $71.1 million in the prior year.
Slower revenue growth, shrinking profit margins, and a dwindling share in the national retail economy have pushed many operators to re-evaluate their strategies. More than 70 per cent of surveyed department-store operators experienced year-on-year sales and netprofit declines last year, including Xujiahui Shopping Mall and Inzone Group.
Uniqlo saw profits dip in its latest third quarter results, as the brand’s owner reported a worldwide shift to consumers purchasing lighter layers of clothes to manage longer, hotter summers. The Japanese fashion giant’s profit fell 9.7%
SHEIN generated $23 billion in revenue and netprofits of $800 million in 2022, people close to the company told WSJ. This included discussing the growth of SHEIN’s workforce in Dublin to fill roles in data analytics, security engineering, finance management and legal, as well as expanding SHEIN’s graduate program in Ireland.
Moves by authorities in the European Union and elsewhere to end tax breaks for low-value parcels threaten Shein’s profitability and risk denting the fast fashion retailer’s long-term attractiveness ahead of its planned stock market debut, investors who focus on the sector said. per cent of sales.
However, the Australian Financial Review (AFR) said Lew will ensure that the next generation of management stars inside Premier are given their chance to shine. Premier Investments posted netprofit after tax of $177.2 The Lew family will retain major shareholdings in Smiggle and Peter Alexander. per cent to $183.9
Trans-Tasman fashion retailer Hallenstein Glasson has reported a 40-per-cent reduction in half-year profit, citing Covid disruptions. million, with netprofit at $11.91 Group sales fell 6.5 per cent to $170.63 million compared with the previous corresponding period. per cent of total group sales.
Fashion house Hallenstein Glassons has delivered a year of growth in a difficult market, with group sales almost 22 per cent up to $333 million and netprofit hitting $31.7 million – 20 per cent higher than FY20. Sales in the group’s brands Glassons and Hallenstein Brothers grew throughout the year, 16.88 per cent to $92.7
Group chairman Solomon Lew has commended Premier Investment’s strong half year results, attributing standout performances to careful management and execution. per cent compared to the first half of FY2022, to $174.3 He added that Smiggle is the first brand that many children actually want, which makes it quite inflation proof.
million and netprofit after tax of $16.9 A continued focus on inventory efficiency and strong management of supply-chain costs influenced the business. The group has reported first-half revenue of $287.5 Although sales reduced during the first half, like-for-like revenue was stable, up by just 0.1
In what the Stockholm-headquartered multinational fast-fashion retailer described as a “strong recovery” H&M increased its netprofit nearly seven-fold to US$1.5 By quickly taking decisive action we have succeeded in managing the negative effects of the pandemic,” she said. “We Gross margin rose by 2.8
” He said the business will continue to invest in its best-pricing strategy while effectively managing its inventory and cost levels. If optimal trading conditions persist, the company expects to deliver a second-half pro forma netprofit after tax of between $18 million and $20 million.
Dogan’s most recent role was as president of Amazon Fashion. Tory Burch Japan names Edouard Roche as president By Tong Van American women’s fashion label Tory Burch has appointed Edouard Roche as its new president and representative director of its Japan business. Boonsri has about 20 years of experience in department store management.
To “right-size” the business’ cost base, other expense management initiatives have been implemented however the full benefit of these actions and lower product and shipping costs will not be seen until later this calendar year, it said. million and $4.2 million.
Premier Retail’s results were praised by some analysts as the realisation of a long-term strategy and effective management through the Covid-19 challenge. million netprofit from $784.6 million in global sales. Smiggle’s sales for the six months to December were down 26.5 per cent to $142.4 million in revenues.
In the 26-week period ending 29 January, Premier lost 42,675 trading days to government-enforced lockdown measures aimed at controlling the spread of the Delta and Omicron variants of Covid-19, resulting in a 16 per cent drop in netprofit to $163.6 per cent and online sales up 27.3 Staying within the lines. per cent, to $146.3
In the back of the net. Within the luxury segment, the fashion category is particularly strong. The line launched with a pop-up on June 17 at Boon the Shop, a futuristic Shinsegae fashion emporium in Seoul, attracting a huge crowd that snapped up items as fast as they could, some of it quickly resold for a killing online.
Mango has seen its netprofit more than double as it rose to €172m (£147m) for the year to 31 December 2023 compared to €81m (£69m) last year. The Spanish fashion retailer posted a 15% increase in revenue to a record high of€3.1bn (£2.6bn) as EBITDA climbed by 22% to exceed €533m.
Those partner – or licensed – brands include toy companies such as Disney and Nickelodeon, through to fashion labels including Moncler and Ray-Ban. million, and netprofit attributable to shareholders grew 70 per cent, to $US157.2 The balance is sourced from local artists in each market the company enters. Its revenue rose 49.3
million in FY22, according to The Australian , while netprofit jumped to $52.4 Yd’s parent company Retail Apparel Group saw growth surge across its stable of brands following the overall lifting of restrictions, though also warned its rollout of new stores has been delayed by the pandemic’s impact. per cent to $628.4
This certainly doesn’t spell the end of Shein, Neil Saunders, managing director and retail analyst at GlobalData said. Broad-based tariffs could hurt more US consumer products and retail companies this time around than in 2018, which was more manageable, said Bea Chiem, retail and consumer managing director, S&P Global Ratings.
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