article thumbnail

Esprit posts $460 million loss in ‘distressing’ year

Inside Retail

Operating expenses were HK$5 billion, up 44 per cent on the prior year, which was attributed to the reversal of the provision for inventories and impairment losses. Revenue from e-commerce, wholesale and retail all dropped by 14-20 per cent, while licensing sales remained relatively stable.

article thumbnail

Esprit posts $300 million loss in ‘distressing’ year

Inside Retail

Operating expenses were HK$5 billion, up 44 per cent on the prior year, which was attributed to the reversal of the provision for inventories and impairment losses. Revenue from e-commerce, wholesale and retail all dropped by 14-20 per cent, while licensing sales remained relatively stable.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Grove Collaborative’s DTC active customers decline amid profitability focus

Retail Dive

Operating expenses dropped 38.5% in Q3 and the company's new CEO Jeff Yurcisin told Retail Dive that reining in marketing spend is the right long-term decision.

article thumbnail

Maximizing Profitability: How to Improve 4 Key Areas of the CPG Product Lifecycle

Retail TouchPoints

Consumer packaged goods (CPG) companies are obsessed with two things: maximizing revenue and minimizing operational expenses. Sunder Balakrishnan is the Supply Chain Analytics Leader at LatentView Analytics.

article thumbnail

Harrolds exits Pacific Fair after rent negotiations fall through

Inside Retail

We have had to pull many levers during the last 12 months to mitigate the impacts of Covid-19 to our business nationally, including reducing operating expenses and attempting to negotiate revised rental agreements,” said Harrolds’ managing director Ross Poulakis.

article thumbnail

Wayfair cutting 870 jobs as sales slow

Retail Wire

Wayfair is laying off about 870 employees as it attempts to bring operating expenses in line with revenues. The online furniture retailer said that it is also in the process of substantially reducing its third-party labor costs.

article thumbnail

The Home Depot launches $500M cost-savings plan

Retail Dive

Savings will focus on fixed operating expenses like supply chain holding capacity amid a decline in sales.