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latest from financial and general interest news

Texco To Show Fabrics, Closures At Interfiliere

Texco, a leading manufacturer of hook and eye closures for the intimate apparel industry since 1969, is also “an experienced manufacturer of warp knit fabrics, producing high quality nylon, polyester, and half and double tricot,” according Claudia Poppe, director of sales and marketing for the U.S. » I want to read more and receive info from Texco

Naked: Q1 Sales Double But Losses Also Grow

Sales at Naked Brand Group more than doubled in the first quarter of 2015, but losses also rose dramatically, rising to $1.8 million compared to a loss of $1.2 million in the same period last year. » I want to read more and receive info from Naked Brand Group

Q2 Sales Rise At Delta Galil, Profit Drops 5%

Sales rose at Delta Galil in the second quarter and first half of 2015, while net income dropped by 5% in both periods. With the release of results, CEO Isaac Dabah pointed out “the volatile currency exchange environment posed headwinds to profit growth.” » I want to read more and receive info from Delta Galil

Delta Galil Announces Purchase of P.J. Salvage

Delta Galil Industries, Ltd. has announced the acquisition of the P.J. Salvage brand and other assets of parent company Loomworks Apparel, Inc. » I want to read more and receive info from Delta Galil

Soma: Closing In On A Million Bras Donated

Soma will conclude its 11th bi-annual “Giving is Beautiful Soma Bra Donation” campaign on August 5th. » I want to read more and receive info from Soma Intimates

American Apparel: Store Closings & Cost Cuts

In early July, American Apparel announced “the next phase of its strategic turnaround plan, including a redesigned fall merchandise line, approximately $30 million in cost-cutting initiatives, and key additions to its leadership team.” » I want to read more and receive info from American Apparel

Tefron Ltd., Clover Group In Joint Venture

Scant details have emerged about a joint venture that Tefron Ltd. and Clover Group International Limited agreed to back in June, 2014. Shortly after the signing, both companies had declined to answer questions from BODY about the alliance. » I want to read more and receive info from Tefron

Tefron: Losses Slow In Q1 As Sales Rise

Tefron Ltd., reported a first quarter 2015 loss of $262,000 on rising sales of $24,669,000, which compares with a loss of $789,000 on sales of $22,029,000 in the three months ended March 31, 2014. » I want to read more and receive info from Tefron

Peekay: Bigger Losses As Chain Plans Offering

Peekay Boutiques, Inc. has registered with the SEC to sell shares to the public in an effort to reduce the enormous debt that has been a prominent factor in the company’s recurring losses. The filing in early May was in a preliminary form, with the share price and several other key figures and names left blank. And as of May 15 no underwriter had been found to handle the offering. » I want to read more and receive info from Peekay

Bendon Has Frederick’s Lingerie, Swim Licenses

Authentic Brands Group (ABG) completed its purchase of Frederick’s of Hollywood in early June, and revealed it had licensed the brand to Bendon Group for intimate apparel and swimwear. Meanwhile, additional creditor claims were filed. » I want to read more and receive info from Bendon Group

Authentic Brands Likely Buyer Of Frederick’s

It is now likely that the online operations of Frederick’s of Hollywood, as well as inventory and shared revenue from future licensing and marketing opportunities, will be sold to Authentic Brands Group (ABG) early next month. » I want to read more and receive info from Frederick’s of Hollywood

ILS: Hotel Discounts, Some Free Room Nights

Specialty Trade Shows is offering a discounted room rate as well as some free hotel room nights to boost the number of buyers at their end-of-summer International Lingerie Show (this year running August 31 through September 2). » I want to read more and receive info from International Lingerie Show

Defending Your Images Against Copyright Theft

Over the years, many apparel makers have complained that images from their ad campaigns have been stolen by unscrupulous wholesalers, often overseas, for use in their own promotions. » I want to read more and receive info from Ted H. Luymes

Wacoal: Sales Drop 1%, Profits 16.4% For Year

Sales at Wacoal dipped 1% for the fiscal year ended March 31, 2015, but net income attributable to Wacoal Holdings Corporation plummeted 16.4%. The company said the sharp decline in income was do to the decrease in sales and the “impact of impairment charges of 6,021 million yen [about $50.28 million] as a result of the reassessment of the fair value of our Peach John” catalog and online retail business. » I want to read more and receive info from Wacoal

Delta Galil: Sales Rise 6%, Income Drops 4%

Sales at Delta Galil rose 6% for the three months ended March 31st but net income fell 4%. “Sales increased to $252.8 million in the 2015 first quarter, an increase of 13% in original currency,” the Israel-based intimate apparel giant pointed out, noting the effect of currency exchange rates on its net sales results. It added, “Operating income was $15.3 million in the 2015 first quarter, growing 3% from the comparable period a year ago.” » I want to read more and receive info from Delta Galil

Frederick’s Creditor List: 40 Lingerie Firms

When Frederick’s of Hollywood filed for bankruptcy in mid April it listed at least 40 creditors from the intimate apparel industry among its total 6500 or so creditors. Others owed money range from shopping mall operators to banks and former employees. » I want to read more and receive info from Frederick’s of Hollywood

Hanes Innerwear Sales Drop 4%, Profits Rise

Sales in the “innerwear” segment at HanesBrands, Inc. declined 4.4% for the quarter ended April 4, 2015 but operating profit for that segment actually rose 13%. Meanwhile, at the parent company, overall sales rose 14.1% and net income rose 26.7% over the same period last year. » I want to read more and receive info from HanesBrands

2 Former Calvin Klein Execs To Naked’s Board

Naked Brand Group Inc., added two key former Calvin Klein executives to is board of directors earlier this year. One is Martha Olson, former group president of Calvin Klein Underwear Global; the other is Paul Hayes, a CPA who served as CFO for the Europe region of The Warnaco Group. There Hayes led “the commercial finance and accounting team for the $500 million Calvin Klein brand business.” » I want to read more and receive info from Naked Brand Group

Sales At Soma Intimates Up 13.7% In Q4 2014

Sales at Soma Intimates were up 13.7% for the fourth quarter of 2014 and 8% for the 52 weeks ended January 31, 2015, rising to a record total of $311.2 million for the year. » I want to read more and receive info from Soma Intimates

Peekay, With 47 Stores, Now Public Company

Peekay Boutiques, Inc., a prominent retailer of intimate apparel and sexual wellness products, became “a public reporting company with its securities quoted on the OTC Bulletin Board,” in mid February. » I want to read more and receive info from Peekay

Sycamore Drops Plan To Acquire Soma’s Parent

Sycamore Partners has abandoned its attempt to buy Chico’s FAS, parent to Soma Intimates, according to the Wall Street Journal. » I want to read more and receive info from Sycamore Partners

HanesBrands Agrees To Acquire Knight Apparel

HanesBrands has “entered into a definitive purchase agreement to acquire Knights Apparel, a leading seller of licensed collegiate logo apparel in the mass retail channel.” » I want to read more and receive info from HanesBrands

Victoria’s Secret Sales Up In January & 2014

Comparable sales at Victoria’s Secret stores (including PINK) in the U.S. and Canada rose 4% in January, while Victoria’s Secret direct sales dropped the same amount. Meanwhile, parent company L Brands reported an overall increase in sales for the quarter and year, as well as a several other pieces of encouraging news. » I want to read more and receive info from Victoria’s Secret

Intimacy ’14 Sales Drop, Rest Of Van de Velde Up

The Intimacy chain of lingerie shops in the U.S. continue to be a drag on the otherwise positive results for Belgian parent company Van de Velde. In reporting its company-wide 2014 results it acknowledged “A fall in retail turnover at Intimacy by 16.7% (12.0% on a like-for-like basis) in local currency.” » I want to read more and receive info from Van de Velde

Victoria’s Secret Sales Rose 3% In December

December sales at Victoria’s Secret stores in the U.S. and Canada rose 3% in December 2014 when compared to the same month in 2013. Meanwhile, Victoria’s Secret direct sales dropped 1%. » I want to read more and receive info from Victoria’s Secret

Charney Out, Buy Offer At American Apparel

American Apparel received a takeover offer in mid-December from an investor, shortly after the company terminated Dov Charney, its former CEO. Paula Schneider, an executive with experience as president or senior officer at Warnaco, Gores Group, BCBG Max Azria, and Laundry by Shelli Segal, has been named as the new CEO as of January 5th, 2015. » I want to read more and receive info from American Apparel

Hanes Q3 Sales Up 17%, But Income Drops 5%

HanesBrands reported 5% lower income of $118.9 million on 17% higher sales of $1.40 billion for its third quarter ended September 30, compared to income of $125.3 million on sales of $1.20 billion for the same period last year. » I want to read more and receive info from HanesBrands

Delta’s $1B Trajectory: Q3 Sales, Income Rise

Still on target to surpass $1 billion in sales, for the first time in a fiscal year, Delta Galil reported rising income of $13.8 million on higher sales of $267.2 million for the quarter ended September 30. This compares to income of $12.7 million on sales of $257.2 million for the same period last year. » I want to read more and receive info from Delta Galil

’Poor Performance’ By B.Tempt’d & Eveden

Wacoal’s worldwide sales fell 2.4% for the six months ended September 30, but net income rose 1.5%. The Japan-based firm, which does 83% of its business in Asia, noted that in the U.S., “sales at department stores, which are our major clients, remained unchanged” from the same period last year, but admitted “Sales from our b.tempt’d brand, featuring simple design, showed poor performance,” as did its Eveden products. » I want to read more and receive info from Wacoal

Intimacy Down But Van de Velde Up In First Half

Parent company Van de Velde reported an overall rise of 9.4% in sales in the first half of 2014. But at its U.S. retail division, Intimacy, there was a “fall in retail turnover ... by 22.7% (14.1% on a like-for-like basis) in local currency. Due to the weakening of the US dollar against the euro, the fall in euro was greater.” » I want to read more and receive info from Intimacy

Victoria’s Secret Direct Sales Up 8% In August

Victoria’s Secret direct sales rose 8% in August, while Victoria’s Secret comparable stores sales in the U.S. and Canada rose 5%. Year to date, however, direct sales are up only 1%, while comparable store sales are up 3%. » I want to read more and receive info from Victoria’s Secret

Victoria’s Secret Comp Stores Up 5% In July

Victoria’s Secret July comparable store sales rose 5% and Victoria’s Secret direct sales rose 1%. Meanwhile parent company L Brands, Inc. reported “net sales of $735.3 million for the four weeks ended August 2, 2014, an increase of 8 percent, compared to net sales of $678.4 million for the four weeks ended August 3, 2013.” » I want to read more and receive info from Victoria’s Secret

Income Up, Sales Down At Yarn Maker Unifi

Yarn maker Unifi, Inc. reported a higher net income for the 52 week year ended June 29, 2014, of $28.8 million on lower sales of $687.9 million. In the 53-week fiscal year that ended June 30, 2013 the company reported net income of $16.6 million on higher sales of $714.0 million. » I want to read more and receive info from Unifi

Delta Galil: Sales, Income Up In 2nd Qtr.

Delta Galil’s second quarter sales and earnings were both up over the same quarter last year, continuing to propel the firm towards its first fiscal year with sales over $1 billion. In fact, the company has “already reached that milestone during the four quarters ended June 30, 2014,” noted CEO Isaac Dabah in comments accompanying the financial release. » I want to read more and receive info from Delta Galil

UK La Senza Lingerie Stores In Administration

Marnixheath Limited, which controls the La Senza lingerie chain of 55 stores in the UK, has been placed into administration, a legal status similar to bankruptcy. La Senza operations in other parts of the world are controlled by L Brands and are unaffected by the move. » I want to read more and receive info from La Senza

Victoria’s Secret Stores Up 3%, Direct Up 6%

“Victoria’s Secret stores North America June comparable store sales increased 3% driven by increases in lingerie and Pink” while June sales at Victoria’s Secret direct rose 6% over the same month last year, according to Amie Preston, chief investor relastions, at parent company L Brands. » I want to read more and receive info from Victoria’s Secret

Hanes To Buy European Underwear Firm DBA

HanesBrands announced today intends to acquire DBApparel of France, an underwear and hosiery producer, from Sun Capital Partners, Inc. for a purchase price of “€400 million on an enterprise basis (approximately $550.” » I want to read more and receive info from HanesBrands

Gildan Activewear Agrees To Acquire Doris

Gildan Activewear, Inc. announced it has signed an agreement to “acquire substantially all of the assets of Doris Inc. (Doris), a marketer and manufacturer of branded sheer hosiery, legwear and shapewear products to retailers in Canada and the United States." The initial purchase price is approximately $101.4 million. » I want to read more and receive info from Gildan Activewear

Soma’s Parent May Be Considering Takeover

Chico’s FAS, Inc., in early June, was widely reported to be in preliminary discussions to consider the option of a private equity buyout or some type of takeover, this leading to a significant jump in its stock price. One of the firm’s best-performing divisions is Soma, a retailer of intimates, sleepwear and loungewear. » I want to read more and receive info from Soma

VS Direct Down 10%, Stores Up 2% For May

While Victoria’s Secret North American comparable store sales for May rose 2%, and Victoria’s Secret direct sales declined 10%, parent company L Brands reported a company-wide net sales increase of 4%. » I want to read more and receive info from Victoria’s Secret

L Brands Income Rises, VS Strategies Adjusted

In the conference call to discuss its first quarter earnings, L Brands acknowledged a modest reduction in the number of U.S. lingerie stores it plans to open this year, said it is exiting some apparel and make-up categories, and confirmed its emphasis on opening new Pink stores as opposed to Victoria’s Secret stores in this country. » I want to read more and receive info from L Brands

Frederick’s Completes "Going Private" Deal

The acquisition of Frederick’s of Hollywood Group Inc. by “HGI Funding LLC, a wholly owned subsidiary of Harbinger Group Inc., and certain of the company’s other common and preferred shareholders” was approved May 28th “by over two-thirds of the aggregate voting power of the company’s common stock.” » I want to read more and receive info from Frederick’s of Hollywood

Delta Galil: 1st Quarter Net Income Up 40%

Delta Galil is off to a great start in 2014. First quarter net income soared to $9.3 million, 40% above the same quarter last year, while sales also rose, and the company raised its sales guidance for the full year — now even further above the $1 billion mark than it had originally predicted. » I want to read more and receive info from Delta Galil

Victoria’s Secret Store Sales Rose 8% In April

Victoria’s Secret comparable store sales for April, in the U.S. and Canada, rose 8% over the same month last year. Meanwhile, Victoria’s Secret Direct sales dropped 3% from last year. » I want to read more and receive info from Victoria’s Secret

Victoria’s Secret: 50 New U.S. Stores In 2014

The number of Victoria’s Secret stores here and around the world will take another big jump in 2014, most likely topping 1,100 in the U.S., according to parent company L Brands’ annual report for 2013 and information released during the firms 4th quarter conference call. » I want to read more and receive info from Victoria’s Secret

NPD: Tights Up 33%, Women’s Apparel 4%

The NPD Group estimated women’s apparel retail sales grew to $116.4 billion in 2013, a 4 percent increase over the $112.3 billion it estimated for 2012. And one particularly dramatic increase occurred in hosiery where “dollar sales for tights grew 33 percent in 2013.” » I want to read more and receive info from NPD

Victoria’s Secret Comp March Sales Down 1%

“Victoria’s Secret North America March comparable store sales decreased 1%,” according to Amie Preston, chief investor relations officer at parent company L Brands. » I want to read more and receive info from Victorias Secret

Frederick’s: Closes 16 Stores, Loses $5.1 M

Frederick’s of Hollywood Group Inc. lost $5.1 million in the fiscal second quarter 2014 on sales of $23.5 million, compared to a loss of $10.0 million on sales of $24.3 million in the same period last year. » I want to read more and receive info from Frederick’s of Hollywood

Thekkekara of Dolce Vita Purchases Lunaire

Jack Thekkekara, who owns Dolce Vita Intimates, LLC and some years ago purchased the Movie Star brand, has purchased the Lunaire brand. Lunaire is a 20-year-old firm that specializes in attractive bras in fuller sizes. » I want to read more and receive info from Dolce Vita

Victoria’s Secret Comp February Sales Up 2%

February comparable store sales at Victoria’s Secret stores in North America were up 2% “driven by core lingerie and Pink,” while at Victoria’s Secret direct sales rose “1%, as growth in bras, panties, Pink, swim and sport was partially offset by a decline in apparel,” according to Amie Preston, chief investor relations officer at parent company L Brands, Inc. » I want to read more and receive info from Victoria’s Secret


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