powered by FU

Executive News

Fashion jobs, Fashion trade news USA, Fashion World business platform for the global apparel industry, FashionUnited New York, Los Angeles, Miami

C&A has announced the appointment of Aida Rizvo as the new Marketing Director. The company said in a statement that Rizvo, a marketing expert with proven track record succeeds Manfred Mandel, who has retired for personal reasons. Rizvo took over her duties as Director of Marketing C&A Europe & Germany and member of the extended European Executive Board (EEB) on November 1, 2018.

"I am very pleased that we have attracted an extremely competent and experienced persona for the position as Director of Marketing at C&A," said Alain Caparros, CEO, C&A Europe in a statement.

Before C&A, Rizvo managed her own consulting firm Emerge Partners as executive director for about six years. She specialised in supporting companies and their brands entering the Southeast Asian market. Rizvo has more than 20 years of experience in various senior marketing and brand management positions in listed and family-run companies.

The company added that during her time at Schwarzkopf, Henkel and Remington in particular, she was responsible for brand management and marketing of various consumer goods such as the hair care products Taft and got2b, the deodorant brands Fa and Bac as well as 15 other beauty care brands.

Picture credit:Aida Rizvo via C&A

Author: Prachi Singh
Posted: ”16-11-2018”

The Björn Borg Group’s net sales for the third quarter amounted to 203.1 million Swedish krona (22.4 million dollars), a decrease of 1.3 percent, while adjusted for currency effects, sales decreased by 6.1 percent. As of January 1, 2018 footwear distribution in Denmark is managed by a licensee, revenue from which come in the form of royalties, so adjusted accordingly, the company said, sales rose about 1 percent. The group’s net sales for the first nine months of 2018 amounted to 513.1 million Swedish krona (56.6 million dollars), a decrease of 2.5 percent and excluding currency effects, sales were down 5.8 percent. Adjusting sales from footwear licensee in Denmark, net sales fell about 1 percent for the first nine months.

Commenting on the third quarter trading, Henrik Bunge, CEO of Björn Borg said in a statement: “Thanks to a higher gross profit margin and lower costs, we raised operating profit to 37 million Swedish krona, an increase of 16 percent for the third quarter.”

Highlights of Björn Borg’s Q3 and first nine months results

In the third quarter, the Swedish wholesale company, which manages apparel and underwear sales, was in line with the previous year, but with sales in sports apparel distribution growing and sales to traditional apparel retailers declining. The Finnish apparel and underwear company, Björn Borg said is developing well and growing at both the wholesale and retail levels. The footwear wholesale company had a good quarter and grew year-over-year. The Swedish business is generating growth, while the Finnish business is down year-over-year.

Sales for the Swedish retail company grew 1 percent for comparable stores but decreased in total because there were three fewer stores than in the third quarter of 2017. E-commerce grew 51 percent in the quarter. The Benelux business declined 23 percent year-over-year with wholesale and retail sales are both down from the previous year. Comparable stores dropped 6 percent and in total retail sales fell 20 percent. The product company’s external sales decreased year-over-year, driven by the poor performance in the Danish market abd external royalties decreased due to lower sales by licensees.

In the first nine months, The Swedish wholesale underwear and apparel business grew year-over-year by 18 percent driven by higher sales in the customer segment sports apparel distribution. The Finnish company that distributes underwear and apparel declined compared with the previous year. The wholesale footwear business has stopped distribution in Denmark as of January 1, 2018, which is now managed by an external partner, which led to a decrease in net sales of about 10 million Swedish krona. The Swedish, Finnish and Baltic businesses, that still are managed within the Group, saw good growth.

Retail sales in Sweden fell compared with 2017 because there were three fewer stores, while sales for comparable stores rose 3 percent. E-commerce generated growth of 35 percent. The Benelux companies reported a net sales decline of 13 percent compared with the previous year at both the wholesale and retail level. The Group’s own stores were down both in total and for comparable stores. The product company’s external sales decreased year-over-year, driven by poorer performance in the Danish and Norwegian markets and external royalties decreased compared with the previous year.

The gross profit margin for the third quarter increased to 57.7 percent with currencies negatively affecting the gross profit margin. Adjusted for currency effects, the company said, gross profit margin would have been 58.9 percent. Operating profit rose to 37 million Swedish krona (4 million dollars), while profit after tax increased to 29 million Swedish krona (3.2 million dollars). Earnings per share before and after dilution amounted to 1.15 Swedish krona compared to 0.98 Swedish krona.

The gross profit margin for the first nine months increased to 58.1 percent with a strong EUR combined with a slightly weaker USD during the period positively affecting the margins. Adjusted for currency effects, the company added, gross profit margin would have been 56.8 percent. Operating profit rose to 55 million Swedish krona (6 million dollars), while profit after tax increased to 45.3 million Swedish krona (5 million dollars). Earnings per share before and after dilution amounted to 1.81 Swedish krona compared to 1.04 Swedish krona.

Picture:Facebook/Björn Borg

Author: Prachi Singh
Posted: ”16-11-2018”

Nike, Inc. has announced that its board of directors approved a quarterly cash dividend of 0.22 cents per share on the company’s outstanding Class A and Class B Common Stock, an increase of 10 percent versus the prior quarterly dividend rate of 0.20 cents per share. The company said this dividend is payable on January 2, 2019 to shareholders of record at the close of business December 3, 2018.

“Nike continues to fuel growth through our Consumer Direct Offense, while generating strong cash flow and increasing returns to shareholders,” said Mark Parker, Chairman, President and CEO of Nike in a statement, adding, “This is our 17th consecutive year of increasing dividend payouts, and combined with the new four-year 15 billion dollars share repurchase program announced this summer, this commitment shows our continued confidence in Nike’s ability to deliver sustainable, profitable, capital-efficient growth over the long-term.”

Picture:Nike media gallery

Author: Prachi Singh
Posted: ”16-11-2018”

Board of directors of Gap Inc. has authorized a fourth quarter fiscal year 2018 dividend of 0.2425 cents per share, payable on or after January 30, 2019 to shareholders of record at the close of business on January 9, 2019.

Gap offers clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta and Hill City brands. The company’s products are available in more than 90 countries worldwide through company-operated stores, franchise stores, and e-commerce sites.

Picture:Gap website

Author: Prachi Singh
Posted: ”16-11-2018”

American family footwear retailer Shoe Carnival said on Thursday its Q3 revenue for 2018 slid 6.4 percent but comparable sales increased 4.5 percent. Net income increased by 9.1 percent from the same period last year.

The company’s sales in Q3 2018 were 269 million US Dollars, down from 287 million US Dollars a year earlier. Net income increased to 12 million US Dollars. The profit margin of the company rose to 4.5 percent compared to 3.8 percent a year ago.

Shoe Carnival Inc was founded in 1978 by David Russel and is based in Evansville, Indiana, United States. Shoe Carnival is one of the largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands.

Offering footwear for men, women and children, the United Stated-listed company has about 0 employees worldwide and operates more than 405 stores.

For more recent news on the business, collections and executive changes of Shoe Carnival Inc, click here.

Picture:Facebook/Shoe Carnival

Author: FashionUnited
Posted: ”16-11-2018”

American fashion retailer Nordstrom said on Thursday its Q3 revenue for 2018 increased by 3 percent. Net earnings for the quarter slid to 67 million US Dollars from 114 million US Dollars for the same quarter last year.

The company’s sales in Q3 2018 were 3,648 million US dollars, up from 3,541 million US dollars a year earlier. The profit margin of the company declined to 1.8 percent compared to 3.2 percent a year ago.

Raising its full year outlook, Nordstrom said in a statement that the company now expects net sales growth to range between 15.5 to 15.6 billion dollars, comparable sales to rise around 2 percent, earnings per diluted share 3.27 US Dollars to 3.37 US Dollars and Earnings per diluted share (excluding the impact of non-recurring estimated credit-related charge and any future share repurchases) between 3.55 US Dollars to 3.65 US Dollars.

Nordstrom Inc was founded in 1901 by John W. Nordstrom, Carl F. Wallin and is based in Seattle, USA. Founded as a shoe store in 1901, Nordstrom is a leading American fashion retailer operating through Nordstrom Rack stores; Jeffrey boutiques; clearance stores; Trunk Club clubhouses and its Nordstrom Local service concept.

Offering men's and women's fashion clothing, the Nasdaq-listed company operates more than 370 stores.

For more recent news on the business, collections and executive changes of Nordstrom Inc, click here.

Picture:Nordstrom press room

Author: FashionUnited
Posted: ”16-11-2018”

Tapestry, Inc. has declared a quarterly cash dividend of 0.3375 cents per common share payable on December 31, 2018 to shareholders of record as of the close of business on December 7, 2018.

For its first quarter, Tapestry's revenue rose by 7 percent to 1.38 billion dollars, while net income for the quarter was 122 million dollars on a reported basis, with earnings per diluted share of 0.42 cents compared to a reported net loss of 18 million dollars with loss per diluted share of 0.06 cents in the prior year period.

Picture credit:Coach via Business Wire

Author: Prachi Singh
Posted: ”15-11-2018”

In spring 2019, Arket would launch its online store in Norway offering essential products for men, women, children and the home.

The company said in a statement that Arket is a modern-day market with essential products for men, women, children and the home and its mission is to offer widely accessible, well-made, durable products.

According to Arket website, brand’s first stores opened on Regent Street in London and online on August 25, 2017, followed by stores in Copenhagen, Brussels and Munich. The head office and design studio is located at Maria Skolgata 83 in Stockholm.

Arket is a part of H&M Group. Other brands under its fold include H&M, COS, Monki, Weekday, & Other Stories, Cheap Monday, H&M Home and Afound.

Picture:Facebook/Arket

Author: Prachi Singh
Posted: ”15-11-2018”

For its fiscal third quarter, J. C. Penney Company, Inc. announced comparable sales decrease of 5.4 percent, while net loss for the quarter was 151 million dollars or 0.48 cents per share. For the third quarter, total net sales decreased 5.8 percent to 2.65 billion dollars and reflecting the calendar shift in 2018 due to the 53rd week in 2017, comparable sales decreased 4.5 percent. The company said, jewellery, women’s apparel and men’s were the top performing divisions during the quarter.

Commenting on the company’s third quarter results, Jill Soltau, the company’s chief executive officer, said in a statement: “In spite of our overall sales results, I am encouraged by the recent underlying trends in key businesses such as women’s apparel, active, special sizes and fine jewellery. We are making progress and taking the necessary steps to right-size our inventory positions to better support the brands and categories that are demonstrating profitable sales growth. While restoring JCPenney to sustained profitable growth will be a lengthy process, I understand the need for quick action.”

For the third quarter, the company’s net loss was 151 million dollars or 0.48 cents per share, compared to a net loss of 125 million dollars or 0.40 cents per share in the same period last year. Adjusted net loss was 164 million dollars or 0.52 cents per share, compared to an adjusted net loss of 108 million dollars or 0.35 cents per share, for the third quarter last year.

The company added that comparable store sales for fiscal 2018 are now expected to be down low-single digits but the company continues to expect to achieve positive free cash flow for the year.

Picture:Facebook/JCPenney

Author: Prachi Singh
Posted: ”15-11-2018”

For the third quarter, Dillard’s reported net income of 7.4 million dollars or 0.27 cents per share, compared to 14.5 million dollars or 0.50 cents per share, for the prior year third quarter. Net sales for the quarter were 1.419 billion dollars compared to 1.355 billion dollars, last year. Total merchandise sales for the 13-week period increased 2 percent to 1.342 billion dollars, while sales in comparable stores for the period increased 3 percent.

Commenting on the company’s trading, Dillard’s Chief Executive Officer William T. Dillard, II, said in a statement: "While we are encouraged by our 3 percent comparable sales performance, this was a disappointing quarter as markdowns weighed heavily on gross margin, particularly in the first month. However, operating performance improved as the quarter progressed and sales turned positive. We also invested 54 million dollars in share repurchases during the quarter.”

Dillard’s, Inc. reported net income for the 39 weeks ended November 3, 2018 of 85.1 million dollars or 3.08 dollars per share compared to 63.8 million dollars or 2.14 dollars per share, for the same period ended October 28, 2017. Net sales for the 39 weeks were 4.346 billion dollars compared to 4.201 billion dollars last year, while total merchandise sales for the period were 4.162 billion dollars compared to 4.084 billion dollars last year, an increase of 2 percent. Sales in comparable stores for the period also increased 2 percent.

Picture:Dillard's website

Author: Prachi Singh
Posted: ”15-11-2018”