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Apparel Industry

All articles tagged with #apparel industry

business1 year ago

American Eagle Shares Drop Amid Lowered Sales Forecast and Weak Holiday Outlook

American Eagle Outfitters has lowered its annual comparable sales growth target from 4% to 3% due to anticipated erratic apparel demand during the holiday season, causing a 14% drop in its shares. The company faces increased competition and consumer caution, with promotions impacting margins. Despite positive responses during key selling periods, American Eagle is wary of potential sales fluctuations. The company reported quarterly revenue slightly below expectations and incurred an $18 million charge for cost-cutting measures.

via Yahoo Finance|
#american-eagle-outfitters#apparel-industry#business
business1 year ago

Luciano Benetton Resigns as Chairman Amid $100M Losses

Luciano Benetton announced he is stepping down as chairman of the family-run apparel brand after discovering losses of over $100 million, blaming the current management team. Benetton, who returned as chairman in 2018, will leave his position in June, coinciding with the board's term at the family holding company, Edizione SpA. The brand has struggled against fast-fashion competition and has seen significant losses since 2013.

via The Associated Press|
#apparel-industry#benetton-group#business
finance1 year ago

Levi Strauss Rides High with Direct-to-Consumer Sales Surge

Levi Strauss stock soared 17.5% after beating first-quarter earnings estimates and raising its yearly guidance, despite an 8% revenue decline due to one-time events. The company's shift to direct-to-consumer sales boosted gross margin and reduced inventories, while adjusted earnings per share exceeded expectations. Levi Strauss maintained its revenue guidance for the year and raised its adjusted EPS forecast, signaling a successful turnaround strategy amidst industry struggles. However, investors are advised to temper their expectations given the stock's significant gains.

via Yahoo Finance|
#apparel-industry#direct-to-consumer#earnings-report
business1 year ago

"VF Corp. Heir Backs Engaged Capital's Board Push for North Face Owner"

Activist investor Engaged Capital is seeking board seats at apparel maker VF Corp, with support reportedly coming from an heir of the founding family of VF. The investor aims to make changes to VF Corp's board, with the backing of the family, which holds about 15% of the company. VF Corp's CEO has been making changes following earnings misses, including evaluating options for their packs business and buying shares to show confidence in the company's path.

via Yahoo Finance|
#activist-investor#apparel-industry#board-seats
business2 years ago

American Eagle's Holiday Forecast Sends Shares Plummeting 17%

Shares of American Eagle dropped by 17% after the company issued a holiday forecast that failed to impress investors. While the retailer expects sales to be up high-single digits for the holiday quarter, its operating income is projected to be mostly below expectations due to an anticipated increase in selling and administrative expenses. American Eagle's third-quarter earnings per share and revenue exceeded analysts' expectations, but its gross margin fell short. The company, along with rival Abercrombie & Fitch, joins other retailers in expressing concerns about tepid demand and cutting forecasts for the crucial holiday shopping season.

via CNBC|
#american-eagle#apparel-industry#business
business2 years ago

From Failed Side Hustles to a $4 Billion Powerhouse: Lessons from Vuori CEO's Mistakes.

Joe Kudla, the CEO and founder of athletic apparel startup Vuori, learned from his previous two failed attempts at launching apparel brands that he needed to remove the safety net and go all in. He quit his job and raised $700,000 in funding to begin making and marketing Vuori's first products. The company struggled in its early days but switching to an e-commerce sales strategy with lots of social media marketing saved it from a third failure. Kudla's previous failures also served as his design school, teaching him valuable lessons.

via CNBC|
#apparel-industry#business#e-commerce