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latest from financial and general interest news

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

Wacoal Annual Sales -1% In The United States

Wacoal sales in the U.S. fell 1%, on a local currency basis, during the fiscal year ended March 31, 2019. Overall, the Japan-based firm, saw sales drop by 0.8% while net profit plunged 96.5%. » I want to read more and receive info from Wacoal

iFabric Sales Fall Again On Sleepwear Exit

iFabric’s abrupt exit from the sleepwear business was the leading cause of a 60% drop in sales at its intimate apparel division, during the quarter ended March 31. » I want to read more and receive info from iFabric

Hanes Innerwear Sales Fall 3.1% In Q1 2019

Hanesbrands Innerwear division sales fell yet again in the first quarter, down 3.1%, following a string of quarterly declines last year. Segment operating profit, however, was up 3.2%. » I want to read more and receive info from Hanes

Texco Opening New Vietnam Factory In Q2

Texco Hook & Eye Tape Ltd. will expand its business by opening a new state of the art factory in Vietnam. The operation will start in the 2nd quarter of 2019. » I want to read more and receive info from Texco

Naked Raises Capital, Changes Debt For Stock

Naked Brand Group Limited reached a “definitive agreement for a private placement of restricted common stock and warrants for aggregate gross proceeds of approximately $3.9 million” with investors led by Los Angeles-based Acuitas Capital. One investor was Naked’s former CEO, and now executive chairman, Justin Davis-Rice. » I want to read more and receive info from Naked

PVH Plans To Acquire Full Control Of Gazal

PVH announced an agreement to acquire full control of Gazal Corporation, a long time partner in Australia, of which it already owns a 22% stake. » I want to read more and receive info from PVH

Delta Galil 2018 Sales Up 10%, Profit Slid 2%

Delta Galil sales rose 10% in 2018 while profit declined 2%. Things accelerated in the fourth quarter, however, where sales jumped 22% while profit surged 23%. » I want to read more and receive info from Delta Galil

Curve New York Runs Next Week, Feb. 25-27

Next week Curve New York opens at the Javits Center on Monday and runs for three days, February 25 through 27. » I want to read more and receive info from Curve

Hanes 2018 Innerwear Sales -3.4%, Profit -9.3%

Hanes Innerwear division sales fell 3.4% and operating profit dropped 9.3% in 2018. But the parent company fared much better with overall sales rising 5.1% and profit surging 793.6%. » I want to read more and receive info from Hanes

iFabric Lost $327,000 in Q1 As Sales Fell 52%

iFabric reported a loss of CAD 431,778 (Canadian dollars, about $327,000 at today’s exchange rates) in its fiscal first quarter 2019, as its sales dropped 52% to CAD 2,471,881 (about $1.87 million). » I want to read more and receive info from iFabric

EuroSkins Valentine’s Day Sale Now Going On

EuroSkins has launched an extensive “Valentine’s Day Event” for its wholesale accounts. » I want to read more and receive info from EuroSkins

Van de Velde Sales Fell 1.8% In Fiscal 2018

Van de Velde sales fell by 1.8% in fiscal 2018, decreasing from 209.0 million euros (about $239 million at current exchange rates) in fiscal 2017 to 205.2 million euros (about $234 million). » I want to read more and receive info from Van de Velde

Naked Faces Ongoing Lawsuit From Investor

A nasty fight has been simmering for the past several months between Naked Brand Group and Alrai Capital over the latter’s $12 million pre-merger investment. » I want to read more and receive info from Naked Brand Group

VS, Pink Comps -6%; La Senza Sale Closed

Victoria’s Secret and Pink December comparable store and direct sales in the U.S. and Canada fell 6%, following a 1% decline for the brands in December 2017. » I want to read more and receive info from Victoria’s Secret

iFabric Q4 Sales -62% As It Exits Sleepwear

iFabric’s abrupt exit from the sleepwear market resulted in a 62% drop in sales and a CD$222,058 (about $163,000 at current exchange rates) loss in its fourth quarter ended September 30, 2018. » I want to read more and receive info from iFabric

Marleen Vaesen Is New CEO At Van de Velde

Van de Velde has a new CEO, Marleen Vaesen, who has been a board member since 2012. She replaced Erwin Van Laethem, who led the company for the last two years after spending 27 exclusively in various parts of the energy business. » I want to read more and receive info from Van de Velde

Delta Galil Sales Rise 9% In Third Quarter

Delta Galil third quarter sales increased 9% while net income fell 33% mainly due to costs related to the recent acquisition of Eminence Group and other restructuring. » I want to read more and receive info from Delta Galil

John Mehas Named CEO of Victoria’s Secret

John Mehas, was named the new CEO of Victoria’s Secret Lingerie, replacing Jan Singer who resigned in mid November. He is currently the president of Tory Burch and will start in “early 2019.” » I want to read more and receive info from Victoria’s Secret

Naked Gives Up More Shares To Buy FOH

Naked Brand Group Limited announced it had acquired FOH Online Corp., “the exclusive licensee of the Frederick’s of Hollywood brand for global e-commerce business,” at a price of $18.2 million. » I want to read more and receive info from Naked Brand Group

VS Parent Will Report Rare Quarterly Loss

Victoria’s Secret parent L Brands today said it expects to report a rare net loss when it announces its third quarter results later this month, a large part of it due to “an approximate pretax non-cash impairment charge of $80 million related to certain Victoria’s Secret store assets.” » I want to read more and receive info from Victoria’s Secret

Hanes Q3 Innerwear Sales, Profit Both Down

Innerwear sales fell 6.9% at HanesBrands, while “segment operating profit” fell 13.6% in the three months ended September 29, 2018. For the company as a whole, sales rose while net income fell. » I want to read more and receive info from Hanes

Sales, Income Down Again At Wacoal U.S.

Fiscal first half sales and operating income both fell at Wacoal’s U.S. division, repeating declines reported in the first quarter. » I want to read more and receive info from Wacoal


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