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Management

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...

Management

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...

Management

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...

Management

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...

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