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latest from financial and general interest news

PVH Q4: Loses $57.7M On Revenue Of $2.09B

PVH lost $57.7 million on revenue of $2.09 billion in the quarter ended January 31, 2021, compared to a loss of $67.4 million on reveue of $2.60 billion in the three months ended February 2, 2020. » I want to read more and receive info from PVH

Wexner Exits L Brands Board, 2 Women Added

Les Wexner is leaving the board of L Brands, the owner of Victoria’s Secret. The founder of the company had most recently served as chairman emeritus of the firm, after giving up the board chairmanship. » I want to read more and receive info from L Brands

Interesting Intimates Firms Seeking Buyers

With more vaccinations, and the pandemic beginning to wind down, many business opportunities have become available across the intimate apparel and related markets. » I want to read more and receive info from FMMG, Inc.

Delta Galil: Q4 Profit of $23.7M, Loss For Year

Delta Galil reported a profit of $23.74 million on sales of $459.68 million in the fourth quarter. But for the year, the company lost $40.52 million on sales of $1.446 billion. » I want to read more and receive info from Delta Galil

Curve Announces An In Person Show August 1-3

Curve has announced it will hold an in person lingerie show in New York, August 1-3, noting that the “location is TBD.” » I want to read more and receive info from Curve

Wacoal 9 Month Sales -20.2%, Earnings -54.9%

Sales fell 20.2% and earnings declined 54.9% in the first nine months at Japan-based Wacoal Holdings Corp. » I want to read more and receive info from Wacoal

Playboy Announces Deal To Buy 41 Lovers Stores

Playboy Enterprises, Inc., which has just emerged as a public company, “announced that it has entered into a definitive agreement to acquire TLA Acquisition Corp., the parent company of the Lovers family of stores,” which includes Peekay stores. Purchase price was “approximately $25 million of cash.” » I want to read more and receive info from Playboy

Hanes Innerwear Sales Jumped 19.7% In Q4

Hanes Innerwear sales overall jumped 19.7% to $668.2 million in the quarter ended January 2, 2021, from $558.3 million in the same quarter last year. » I want to read more and receive info from Hanes

Naked: $46.9 Million In GameStop-Style Surge

Naked Brand Group took advantage of a recent “GameStop-style surge” in its stock price to sell 29,415,000 of its shares and generate net proceeds of approximately $46.9 million. » I want to read more and receive info from Naked Brand Group

Public Playboy Names Lance Barton CFO

Playboy, which has completed the merger making it again a public company, announced the appointment of Lance Barton as chief financial officer, effective March 1, 2021. » I want to read more and receive info from Playboy

Trish Donnelly Named CEO Of PVH Americas

Trish Donnelly, the former CEO of Urban Outfitters Group, is joining PVH in the newly created role of CEO of PVH Americas. » I want to read more and receive info from PVH

Delta Galil: Q3 Net Income To $19.5 Million

Delta Galil reported a profit of $19.542 million on sales of $382.878 million in the three months ended September 30, compared to a profit of $14.034 million on sales of $446.139 million in the same period last year. » I want to read more and receive info from Delta Galil

VS, Pink Holiday Store Comp Sales Fall 23%

Victoria’s Secret and Pink brick and mortar comparable store sales in the U.S., Canada, China and the U.K. fell 23% in November and December. » I want to read more and receive info from Victoria’s Secret

Delta Galil To Open 7 VS Shops In Israel

Delta Galil has closed a deal with L Brands to open Victoria’s Secret and Bath & Body Works stores in Israel. » I want to read more and receive info from Victoria’s Secret

PVH: Q3 Net Income $69.5M; Sales $2.014B

PVH reported third quarter net income of $69.5 million on sales of $2.014 billion, compared to net income of $208.9 million on sales of $2.434 billion in the same period last year. » I want to read more and receive info from PVH

Victoria’s Secret Sales Fall, Direct Sales Up

Total third quarter Victoria’s Secret and Pink sales shrank to $1.353 billion, from $1.578 billion in the same period last year, with store and international sales down and direct sales sharply up. » I want to read more and receive info from Victoria’s Secret

November Market Week Virtual, Not In-Person

The Underfashion Club sent out an email stating the November 2020 market “will be conducted in the same manner as the August Market – with virtual appointments being scheduled around the previously established dates of Sunday, November 1st to Friday, November 6th.” » I want to read more and receive info from Underfashion Club

Q3 Revenue Jumps 41% At Canada’s iFabric

Revenue at iFabric jumped 41% in the three months ended June 30, to $3,214,465 Canadian dollars (C$) (about $ 2.4 million at current conversion rates), up from C$2,284,507 during the same three months last year. » I want to read more and receive info from iFabric

Late January Halloween Show Is Canceled

The Halloween & Party Expo, which had been scheduled for January 22 through 24, has been canceled. » I want to read more and receive info from Halloween & Party Expo

Consumer Electronics Show Canceled For ’21

The largest consumer electronics show in the world, CES 2021, has canceled its physical show that had been scheduled to run January 6-9, 2021, in Las Vegas. » I want to read more and receive info from CES 2021

PVH Closing 162 Outlets, Firing 450 Staff

PVH announced it was closing its 162 Heritage Brands outlets and well as firing about 450 people, or 12% of its North American “office workforce.” » I want to read more and receive info from PVH

Upcoming Offprice And Curve Shows Canceled

Curve New York for September 2020 has been canceled. The show had originally been scheduled for early August, then postponed to September 21-23 at New York’s Javits Center. » I want to read more and receive info from Curve

Market Week: Virtual Or In Person, August 2-7

The Underfashion Club emailed a note stating it anticipates “there will be an August market,” based on “recent input from retailers, manufacturers, and suppliers.” » I want to read more and receive info from Underfashion Club

Curve Annouces NY Show September 21-23

After exploring the concept and dates with wholesalers and retailers in recent weeks, Eurovet Americas announced it will be holding a postponed Curve show at New York’s Javits Center (Hall 1E) September 21-23, 2020. » I want to read more and receive info from Eurovet

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


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