Articles by Prachi Singh
Steve Madden acquires Almost Famous for 52 million dollars
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Steven Madden, Ltd. has completed the acquisition of privately held Almost Famous, a designer and marketer of women’s apparel. The company said in a statement that the acquisition was completed for 52 million dollars in cash, plus an earn-out provision based on future financial performance. Commenting on the acquisition, Edward Rosenfeld,...
Guy Thier to join Modere as chief information officer
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Health and wellness brand Modere has announced the appointment of Guy Thier as chief information officer (CIO), effective October 30, 2023, to further enhance the company’s e-commerce and digital transaction platforms. Thier, the company said in a release, brings over 25 years of experience in IT and digital marketing within the consumer health...
Inter Parfums reports strong Q3 trading results
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Inter Parfums, Inc. third quarter net sales rose to 368 million dollars, up 31 percent compared to the same quarter of 2022. Commenting on the trading update, Jean Madar, chairman & CEO of Inter Parfums, stated: “Strong market conditions, in combination with increased market share driven by new product launches, brand extensions, and the...
VF Corporation appoints Trevor Edwards to its board of directors
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VF Corporation has appointed Trevor A. Edwards to the company’s board of directors, effective October 22, 2023. With the addition of Edwards, VF has appointed three new directors to its board over the past 18 months who collectively bring experience in footwear and apparel, retail, design, technology, and sustainability. Edwards, the company...
Fashionette H1 earning improve, raises outlook
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Fashionette AG achieved operating earnings (adjusted EBITDA) increase to 1.5 million euros in the first six months of 2023. The company said in a release that operating cash flow improved from negative 7.1 million euros to negative 3.8 million euros. In light of the effects of the cost-cutting and efficiency program, Fashionette raised its...
Dr. Martens lowers profit outlook, announces CFO retirement
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Dr. Martens expects FY23 EBITDA to be around 245 million pounds due to higher costs at LA DC (Los Angeles distribution centre) and lower wholesale revenue. The company also announced that its chief financial officer Jon Mortimore has decided to retire from his role and he will continue to hold the position until a successor is in place. “We took...
On's FY22 sales accelerate, cross one billion Swiss francs
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On Holding AG’s fiscal 2022 net sales increased 68.7 percent to 1,222.1 million Swiss francs with net sales through the DTC sales channel increasing by 61.4 percent to 445.1 million Swiss francs and net sales through the wholesale sales channel increasing by 73.1 percent to 777 million Swiss francs. For the fourth quarter, the company’s net...
PVH appoints Amber McCann as chief communications officer
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PVH Corp. has announced the appointment of Amber (McCasland) McCann as executive vice president and chief communications officer, effective April 6, 2023. McCann, the company said in a statement, a highly experienced corporate communications executive, will lead all aspects of PVH’s global internal and external communications strategy and report...
Vera Bradley posts Q4 loss
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Consolidated net revenues at Vera Bradley, Inc. were 147.1 million dollars for the fourth quarter compared to 149.6 million dollars in the prior year fourth quarter. The company’s net loss for the quarter was 28.2 million dollars or 91 cents per diluted share. On a non-GAAP basis, net income totaled 5 million dollars or 16 cents per diluted...
Lenzing suspends dividend policy for FY23
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Lenzing AG expects EBITDA for the 2023 financial year to be in a range of 320 million euros to 420 million euros, assuming a further market recovery in the current financial year. On this basis, the company said in a statement that the company’s managing board of Lenzing AG does not consider the execution of the existing dividend policy of at...