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latest from financial and general interest news

First Day Results: People Want To Shop

Discount Fashion Warehouse, which operate nine outlet stores across Ohio, reported a dramatic return to business on Tuesday, May 12, the first day it was allowed by the state to reopen its stores » I want to read more and receive info from Discount Fashion Warehouse

Preparing Your Intimates Business To Re-Open

With some states and stores across the country starting to open for business, lingerie store owners have begun to think about how to operate with the threat of Covid 19 on everyone’s mind — now and for a long time to come. » I want to read more and receive info from Valens Lingerie

May: Updated List Of Companies For Sale

As of the start of May, FMMG Advisors was working with a number of companies and brands for sale (see the list below). Contact Nick Monjo at (917) 602-9430 or Nick@FMMG.com for information. » I want to read more and receive info from FMMG Advisors

Online ‘Module’ Helps Reps Increase Sales

Tim McNamara of McNamara Publishing has created an online sales tool called the “Module,” designed primarily to be used by sales representatives or wholesalers. » I want to read more and receive info from McNamara Publishing

PVH Announces Many Furloughs, Other Steps

PVH announced an extensive list of steps it is taking, including furloughs and salary reductions, to “navigate the COVID-19 pandemic and its effects on its associates and the company’s business and financial position.” » I want to read more and receive info from PVH

May Intimates Market Officially Canceled

With stores canceling or pushing back orders, and most seeing no need to travel to showrooms in the midst of the virus crisis, May Market for intimates, at least in a physical sense, has been canceled. » I want to read more and receive info from The Underfashion Clu

Corin Begins Production Of Face Masks

Corin, the Polish bra producer, has began the production and sale of protective face masks to help in the fight against the Coronavirus pandemic. » I want to read more and receive info from Corin

VS, Pink Now Close Online Stores Til 3.30

Victoria’s Secret and Pink announced Thursday afternoon, March 19, that they are closing their online stores through March 29. This comes after both brands had earlier announced the closing of their brick and mortar stores until March 30. » I want to read more and receive info from Victoria’s Secret

Simon Closed All U.S. Malls, Outlets Until 3.29

Simon Property Group, “in recognition of the need to address the spread of COVID-19,” closed all of its U.S. malls, outlets and mills in the U.S. late yesterday, with openings scheduled for March 29. » I want to read more and receive info from Simon Property Group

Soma Closes All Stores, Outlets Until April 1

Soma’s parent company Chico’s FAS announced it was closing all its stores in North America immediately and “for the next two weeks.” » I want to read more and receive info from Soma

Aerie, Victoria’s Secret, Pink Shut Temporarily

Aerie, Victoria’s Secret and Pink are closing their U.S. and Canada stores temporarily in response to the continued spread of COVID-19. » I want to read more and receive info from Aerie

VS, Pink Sales Fell 8% In 2019 To $6.8 Billion

Days after announcing the sale of a majority stake in its lingerie divisions, L Brands reported that Victoria’s Secret and Pink store and direct sales for 2019 fell 8% to $6.8 billion, from $7.4 in 2018. Fourth quarter sales fell 10% to $2.3 billion, from $2.5 billion in the same quarter last year. » I want to read more and receive info from Victoria’s Secret

Delta Galil 2019 Sales +13% To $1.69 Billion

Delta Galil sales in 2019 rose 13% to an “all time high” of $1.690 billion, from $1.498 billion in 2018. Fourth quarter sales jumped 11% to $504.8 million, up from $454.3 million in the same quarter last year. » I want to read more and receive info from Delta Galil

Sycamore Buying Majority Of Victoria’s Secret

L Brands announced it is selling a “majority 55% interest in Victoria’s Secret Lingerie, Victoria’s Secret Beauty and Pink” to Sycamore Partners “with L Brands retaining 45% minority stake, at a total enterprise value of $1.1 billion.” » I want to read more and receive info from Victoria’s Secret

Apparel Industry M&A On The Rise In 2020


Mergers and acquisitions, both large and small, are on the rise in 2020. FMMG Advisors, the Brooklyn-based firm that specializes in the apparel industry, is working with several companies and brands that are either for sale or are seeking investors. » I want to read more and receive info from FMMG, Inc.

NILS: Over 200 Stores, Many New Brands

The New International Lingerie Show (NILS) has been signing new exhibitors and expects over 200 retailers for its Spring 2020 show, March 16 through 18, 2020 at the Tuscany Suites & Casino in Las Vegas. » I want to read more and receive info from New International Lingerie Show

Hanes Q4 Innerwear Sales -4.1%, Profit +4.7%

Hanesbrands Innerwear segment sales fell 4.1% in the quarter ended December 28, 2019, while the division’s operating profit rose 4.7%. For the full year, sales were down 3.2% and operating profit was down 2.1%. » I want to read more and receive info from Hanesbrands

Times Report: ‘Culture of Misogyny’ At VS

At the beginning of February the New York Times published a damning report under the headline “‘Angels’ in Hell: The Culture of Misogyny Inside Victoria’s Secret.” » I want to read more and receive info from Victoria’s Secret

WSJ: Victoria’s Secret May Be For Sale

The Wall Street Journal reported recently, without naming sources, that L Brands’ CEO Leslie Wexner is in talks to sell all or part of Victoria’s Secret, naming Sycamore Partners as an interested party. » I want to read more and receive info from Victoria’s Secret

Bankruptcy Petition Filed Against La Senza

MGF Sourcing and two other suppliers filed an involuntary bankruptcy case against La Senza International Canada, LLC, in an effort to get paid on about $43 million in what they claim are overdue bills. » I want to read more and receive info from La Senza

ThirdLove In Suit Over $5 Million In Damages

Magic Link, a producer of intimate apparel with production facilities in Asia, is in the midst of a court case with the retailer ThirdLove, in which Magic Link seeks damages in excess of $5 million. » I want to read more and receive info from ThirdLove

Official Announcment: Curve LA, Feb. 23 & 24

While executives have been quietly discussing the possibility for months, Curve has finally officially announced a new lingerie and swim show to be held this February 23 and 24 at the Westdrift Manhattan Beach Hotel in California. » I want to read more and receive info from Curve

VS, Pink Q3 Comps -7%; Large Charges Taken

Victoria’s Secret and Pink parent L Brands reported a third quarter loss of $252.0 million on sales of $2.677 billion, compared to a loss of $42.8 million on sales of $2.775 billion in the same period last year. » I want to read more and receive info from Victoria’s Secret

Analysts: Troubles Ahead For Amazon As Nike Departs

Nike recently decided to stop wholesaling its products to Amazon Retail, prompting a variety of assessments from analysts and the business media, many of them suggesting there are serious problems ahead for the online behemoth. » I want to read more and receive info from Amazon

Delta Galil Q3 Sales +20%, Net Income +46%

Delta Galil’s third quarter sales rose 20%, to $446.1 million, up from $370.8 million in the third quarter of 2018. Meanwhile net income jumped 46% to $14.0 million, compared to $9.6 million in the three months ended September 30, 2018. » I want to read more and receive info from Delta Galil

Tefron Q2: Revenues $40.2M; Profit $306,000

Tefron Q2 net income fell to $306,000 on revenues of $40.2 million, compared to a profit of $1.0 million on revenues of $41.8 million in the three months ended June 30, 2018. » I want to read more and receive info from Tefron

Hanes Innerwear: Sales -3.5%, Operating Profit -8.1%

HanesBrands Innerwear segment sales declined 3.5%, while segment operating profit fell 8.1% in the third quarter. For the company as a whole, however, total sales rose 1.0% and net income jumped 9.5% in the three months ended September 28, 2019. » I want to read more and receive info from Hanes

iFabric Q3 Sales -31%; Loss Hits C$646,819

iFabric sales in the third quarter fell by 31% to C$2,284,507 (Canadian dollars) or about $1.75 million (at current exchange rates). Meanwhile the net loss for the three months ending June 30, 2019 jumped to C$646,819 (about $495,000), up from C$171,701 (about $131,000) in the same period last year. » I want to read more and receive info from iFabric

Destination Filing Hits Many Apparel Firms

Asia Creative Limited /Dora Lau, a prominent intimates producer, as well as several other apparel makers, were among the creditors with the largest unsecured claims as the retailer Destination Maternity filed for chapter 11 bankruptcy protection in late October. » I want to read more and receive info from Destination Maternity

Apparel Firms Hit By Forever 21 Bankruptcy

Many apparel firms took a hit when Forever 21 filed its voluntary chapter 11 bankruptcy at the end of September. They make up many of the company’s top unsecured creditors. » I want to read more and receive info from Forever 21

Kauffman Is President Wacoal America

Wacoal America announced at the start of October that Mitch Kauffman, who has been with the company for almost four years, most recently as SVP sales and marketing, has been named president, and will add the title of CEO in March 2020. » I want to read more and receive info from Wacoal

Naked Cuts Debt, Delays Financial Reporting

Naked Brand Group Limited postponed reporting its financial results for the first half of fiscal 2020 (the six months ended July 31, 2019), saying it expects to present them “in the fourth quarter of 2019 in conjunction with a business update conference call.” » I want to read more and receive info from Naked

PVH Reports Rise In Q2 Sales And Earnings

As he discussed PVH’s second quarter, CEO Manny Chirico affirmed that PVH’s “underwear business is one of our most profitable business categories that we operate.” » I want to read more and receive info from PVH

Gilly Hicks Parent Posts $31.1 Million Q2 Loss

Lingerie brand Gilly Hicks received little mention as parent company Abercrombie & Fitch reported a second quarter loss of $31.1 million on sales of $841.1 million, compared to a loss of $3.9 million on sales of $842.4 million in the same period last year. » I want to read more and receive info from Gilly Hicks

Wacoal: Weak Sales At U.S. Department Stores

Wacoal reported “weak over-the-counter sales at department stores” in the U.S. for the quarter ended June 30, which led to a decrease in operating income. Exact details of the performance in this country was masked by the fact that the international firm combines the results for different continents in some of its reporting. » I want to read more and receive info from Wacoal

Q2 Comps, Sales, Profits All Fall At VS, Pink

In the second quarter, combined online and comparable store sales for Victoria’s Secret and Pink in the U.S. and Canada fell 6%. Comps for those stores alone were down 9% from the same quarter last year. » I want to read more and receive info from Victoria’s Secret

Delta Galil’s Q2: Sales +10%, Income -22%

Delta Galil’s Q2 sales rose 10% while net income fell 22%. For the three months ended June 30, 2019 the firm made $5.07 million on sales of $373.89 million compared to $6.46 million on sales of $338.91 million in the same period last year. » I want to read more and receive info from Delta Galil

Details Of Wacoal’s Acquisition of Lively

In a surprising move, Wacoal International Corporation, parent company of Wacoal America, Inc., acquired at the end of July the Lively lingerie brand for $85 million plus additional earnouts based on future performance. » I want to read more and receive info from Wacoal

Moore To Head Delta Galil’s Mass Division

Delta Galil named Steve Moore president, Mass Division of Delta Galil, describing him as “a highly accomplished mass merchandising executive with more than 25 years of experience, including at Gildan Activewear and 14 years at Hanesbrands, Inc.” » I want to read more and receive info from Delta Galil

Silverstein Is President Of 7 For All Mankind

Delta Galil Industries, Ltd. named Suzanne Silverstein president of its 7 for All Mankind division, a move that returns her to the brand. » I want to read more and receive info from Delta Galil

Soma’s Parent Rejects Latest Sycamore Offer

On June 27, Soma’s parent Chico’s FAS again rejected an acquisition offer from Sycamore Partners. The latest bid was for $3 a share, following one for $3.50 on May 10 of this year, and another for $4.30 in April. » I want to read more and receive info from Soma

Naked Losses Up 30.9%, While Sales Slide 14.8%

Naked’s losses surged 30.9%, to $32.0 million (NZD $49.2 million) in they year ended January 31, 2019, up from $24.5 million (NZD $37.6 million) the previous year. » I want to read more and receive info from Naked

Cheryl Abel-Hodges Is CEO of Calvin Klein

Cheryl Abel-Hodges has been named CEO of Calvin Klein, Inc. She replaces Steve Shiffman who is leaving the company. » I want to read more and receive info from Calvin Klein

Soma Comps Up 3.4%, Net Sales Rose 2.4%

Soma’s comparable sales rose 3.4% in the first quarter, compared to a decline of 5.8% in the same period last year. » I want to read more and receive info from Soma

Delta Galil Buying Intimates Maker Bogart

Delta Galil signed an agreement to acquire Hong Kong based The Bogart Group, a prominent producer of intimates and swimwear. The sale includes two of its subsidiaries, Brunet, a lace manufacturer, and B&B, a padding maker. » I want to read more and receive info from Delta Galil

Aerie Comps Up 14%, Many Stores To Open

Aerie comparable sales were up again in the first quarter, rising 14% and “marking the 18th consecutive quarter of double-digit comps,” according to Jay Schottenstein, chairman and CEO of parent company American Eagle Outfitters. Last year Aerie’s first quarter comps were up 38%. » I want to read more and receive info from Aerie

Stefan Larsson Named President of PVH Corp.

Stefan Larsson was named to the newly created role of president, PVH Corp. effective June 3, 2019 as “part of a strategic succession plan,” according to the company. Meanwhile, chairman and CEO Emanuel Chirico signed a new five year employment agreement with PVH. » I want to read more and receive info from PVH

PVH Q1 Sales Increase 2%, Profit Falls 54%

As PVH reported a 2% increase in sales, and a 54% drop in overall company profit in the first quarter of 2019, chairman Manny Chirico pointed out two bright spots in the company’s inner wear business. » I want to read more and receive info from PVH

Soma’s Parent Rejects Latest Sycamore Offer

Soma’s parent Chico’s FAS has rejected the latest offer from Sycamore Partners, this one on May 10, to acquire the company for “$3.50 per share in cash.” It follows an April 14 offer at $4.30 a share, as well as other failed discussions dating back several years. » I want to read more and receive info from Soma

Delta Galil First Quarter Sales +9%, Profit -59%

Delta Galil sales in the first quarter jumped 9% but net income slumped 59%. » I want to read more and receive info from Delta Galil


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