Lingerie producer Van de Velde will evaluate whether it has to lower the balance sheet value of Intimacy, an American chain, because the channel’s sales dropped considerably and it might have breached credit card regulations on several occasions.
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Esprit has admitted it is unsure about its second-half performance will, despite a positive performance in the first half of its fiscal year in which it managed to get a net profit. Investors reacted badly to the news, with a big drop in share value.
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French luxury group Kering had a like-for-like turnover increase of 4 % in its 2013 fiscal year, with luxury products performing exceptionally well, but its profit took a huge 95 % blow to 50 million euro.
Crocs’ management is feverishly trying to redirect the company’s course as it wants to get rid of its reputation of “that company of the iconic clog”, a piece of clothing that is burdened by a lousy and kitschy image.
2013’s fourth quarter has not been a good one for jean manufacturer Levi’s, as three big reasons impacted the turnover. Weaker European sales, more promotional activities in the Americas and an adverse calendar situation resulted in a weaker performance.
Zara, Bershka and Massimo Dutti, three chains belonging to Inditex, will no longer sell (items with) fur. This move is a huge turnaround for the Spanish concern, as it refused to remove angora from its range just last year.
British fashion chain New Look has managed to increase its turnover in the final quarter of 2013 to 452.1 million pounds (some 545 million euro), a 5 % increase. Strong online sales were the main impetus for the increase: they went up 66%.
Dutch clothing discounter Wibra has finally signed a treaty that deals with the safety in Bangladeshi clothing factories. It had previously refused to sign or at least hesitated to do so, but pressure from the government seems to have helped.
Ralph Lauren has exceeded analyst expectations with its third quarter results, mainly thanks to increased sales in North America.
SuperGroup, the British owner of fashion label and retail chain Superdry, managed a quarterly (until 31 January) turnover growth of 20 % to 141,1 million pound, some 170 million euro.
Marc Jacobs will open the “Daisy Marc Jacobs Tweet Shop” during the New York fashion week. This store will accept tweets and Instagram posts as “payment”.
Burberry has promised to eliminate the use of any hazardous material in production process by 2020. The fashion brand received a lot of flak after a Greenpeace report last week.
German fashion company Gerry Weber saw its turnover grow 6.2 % to 852 million euro in its last fiscal year, thanks to 68 new stores. Gross profit dropped though, from 115.9 to 105.8 million euro.
British shoe brand Dr. Martens has founded two separate subsidiaries for Benelux sales. That means the decade-long distribution deal with Dutch FROS International will be terminated.
Swedish fashion giants H&M Group has seen its turnover grow 6% in its previous fiscal year (from 1 December 2012 to 30 November 2013), amounting to 9 % in local currencies.
Louis Vuitton Moët Hennessy (LVMH) saw its turnover increase by 4 % and profit by 2 %, mostly thanks to an excellent fourth quarter.