Latest Articles in Business

HanesBrands Q1 sales decline, maintains outlook

HanesBrands net sales of 1.16 billion dollars were at the midpoint of the company’s expected range, a decrease of approximately 17 percent. On an organic constant currency basis, net sales decreased approximately 15 percent compared to last year. However, operating profit and operating margin in first-quarter were 52 million dollars and 4.5...

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DEFI, ADEME and Paris Good Fashion join forces to simplify corporate carbon footprints

The ACT (Assessing low-Carbon Transition) initiative is the result of collaboration between the French Agency for Ecological Transition (ADEME), the Carbon Disclosure Project (CDP) and the World Benchmarking Alliance (WBA). Together, they have developed a methodology for assessing the maturity of companies' low-carbon transition plans. At the...

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Marcolin improves profitability in Q1

In the first three months of 2024, Marcolin reported adjusted EBITDA of 25.7 million euros, up by 8.5 percent, while net profit amounted to 7.3 million euros, increasing over 7 percent. The group’s net sales of 145.6 million euros, decreased 4.4 percent or 3.8 percent at constant exchange rates compared to the previous year. On a like-for-like...

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Coach parent Tapestry posts Q3 revenues of 1.48 billion dollars

Tapestry’s third quarter net sales declined 2 percent to 1.48 billion dollars. Gross profit totaled 1.11 billion dollars, while gross margin was 74.7 percent. For fiscal 2024, the company forecasts revenue of over 6.6 billion dollars, approximately in-line with prior year on a reported basis and representing growth of approximately 1 percent on...

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Volatile China market impacts Salvatore Ferragamo's Q1

Salvatore Ferragamo Group’s revenues of 227 million euros were down 18.3 percent at current exchange rates and 16.6 percent at constant exchange rate. In a statement, the company attributed the negative DTC performance to January trading and a volatile consumer environment in Greater China. The wholesale channel, Ferragamo added, was penalised...

Business

Warby Parker's revenues increase by 16.3 percent

For the first quarter, Warby Parker's net revenue increased 28 million dollars or 16.3 percent to 200 million dollars. GAAP net loss for the quarter was 2.7 million dollars, gross margin increased 1.6 points to 56.7 percent, while adjusted EBITDA reached 22.4 million dollars and adjusted EBITDA margin was 11.2 percent. The company opened eight...

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Crocs tops the charts as the world's most popular fashion brand

The primary objective of any fashion or beauty brand is to make an emotional connection to motivate consumers to make a purchase - whether they are selling the latest anti-aging serum or a simple pair of socks. Brands who have successfully developed a solid branding strategy are more likely to establish a solid foundation for growth, and have a...

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My Wardrobe HQ merges with Cercle

Luxury rental and re-commerce platform My Wardrobe HQ has announced its merger with fellow UK-based fashion rental and resale platform Cercle, which focuses on unique luxury and vintage items. The strategic merger is to expand its global presence and enhance its offering, explained My Wardrobe HQ in a statement, as it looks to form a global...

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Nona Source: Why the success of its business model favours a new circular model

Nona Source, the platform specialising in the marketing of deadstock materials from fashion houses, has introduced a solid business model. In a sector that is still poorly mastered eco-circularity, Nona Source pays particular attention to remaining economically balanced, while retaining awareness of the other factors that need to be taken into...

Business

Safilo sales hit by North America, lower Jimmy Choo sales

In the first quarter, Safilo's net sales amounted to 277.2 million euros, down 1.8 percent at constant exchange rates and 3.5 percent at current exchange rates influenced by the reduction in sales of Jimmy Choo. The company said in a statement that the other main drivers of the period were the weak performance of North America and the temporary...

Business

Shopify reports strong first quarter

Shopify’s first quarter gross merchandise volume (GMV) increased 23 percent to 60.9 billion dollars. Revenue also increased 23 percent to 1.9 billion dollars, translating into year-over-year growth of 29 percent after adjusting for the sale of logistics businesses. “Our outstanding Q1 performance is clear proof of our dedication to the new shape...

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Wolverine Worldwide Q1 revenues drop 34 percent, names new CFO

Wolverine Worldwide revenues of 394.9 million dollars declined 34.1 percent or 34.6 percent on a constant currency basis. Revenues from the ongoing business were down 24.5 percent or 25.1 percent constant currency to 390.8 million dollars. Gross margin for the quarter improved 650 bps to 45.9 percent, while adjusted gross margin improved 250 bps...