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On's FY22 sales accelerate, cross one billion Swiss francs

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...

22 Mar 2023

BusinessFeatured

Scotch & Soda files for bankruptcy for Dutch operations amid 'severe cash flow issues'

Fashion retailer Scotch & Soda has filed for bankruptcy for its Dutch operations following “a chain of events that accelerated severe cash flow issues”. The company said in a LinkedIn post that the pandemic combined with high inflation forced it to declare bankruptcy in the Netherlands despite reporting record sales of 342.5 million euros in...

20 Mar 2023

Business

Amazon to cut 9,000 more jobs, CEO confirms

Amazon CEO Andy Jassy said Monday he was cutting 9,000 more jobs from the online retail giant's workforce, following the 18,000 that were axed in January. "Given the uncertain economy... and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount," Jassy said in a memo to staff. The...

20 Mar 2023

People

Asos assigns new position of senior customer director to Dan Elton

Dan Elton, former chief customer officer at made.com, has been appointed by online retailer Asos to fill the post of senior customer director, a newly introduced role. Elton took over the initial spot of chief customer officer and reports directly to José Antonio Ramos Calamonte, the company's CEO. He departed the bankrupt furniture company...

8 Mar 2023

People

PVH appoints Amber McCann as chief communications officer

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...

8 Mar 2023

Business

Vera Bradley posts Q4 loss

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...

8 Mar 2023

Fashion

LIM College opens applications for student summer course

The New York based LIM College has announced the opening of applications for its Summer Fashion Academy pre-college program, an opportunity for high school students to explore career paths in fashion business and whether this school is the right match for them. For the summer program, a combination of online and in-person courses and workshops...

8 Mar 2023

BusinessFeatured

Adidas announces management changes, extends contract of CFO

Sportswear giant Adidas has announced changes to its top team the same day it revealed it swung to a loss in the fourth quarter of the year. The German company said Wednesday that the contract of Harm Ohlmeyer, who has been finance chief since 2017, will be extended for three years, meaning he’ll remain in the post until the beginning of 2028....

8 Mar 2023

BusinessFeatured

Perfect Corp FY revenue up, but losses widen

Perfect Corp, a company that provides augmented reality (AR) and artificial intelligence (AI) Software-as-a-Service (SaaS) for global beauty and fashion businesses, has reported an increase in revenue but widening losses in its most recent full-year report. In the 12 months to December 31, the company’s revenue increased 16 percent to 47.3...

8 Mar 2023

Business

Lenzing suspends dividend policy for FY23

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...

8 Mar 2023

Business

Nike announces leadership promotions

Nike has announced that effective as of March 13, Amy Montagne, currently VP/GM, APLA will transition to lead the women’s business as VP/GM women’s and Cathy Sparks, currently VP, Nike Direct, EMEA, will transition to lead the APLA geography as VP/GM, APLA. The company announced that Whitney Malkiel, currently VP/GM Women’s, has decided to leave...

8 Mar 2023

Business

'It's hard to survive', say striking UK Amazon workers

"Amazon won't give you anything if you don't fight for it," a union organiser shouted through a bullhorn as dozens of disgruntled workers staged a strike outside the US tech warehouse in Coventry, central England. "We're asking for a raise. One of my children has eczema, I told him to take a bath every other day, I can't pay for the hot water,"...

3 Mar 2023