American Eagle Outfitters released its financial statement today, March 11, 2014, with undeniably one of its worst quarters ever. Consolidated comparable sales for the 13 weeks decreased 7% over the same 13 week period last year. Gross profit decreased 28% to $332 million. Jay Schottenstein, Interim CEO stated, “The Company’s results in 2013 were highly […]
Fast-fashion retailer and brand H&M, based out of Sweden has released their year-end financials which show a strong response to several different factors. First, H&M’s Group sales were up by 9% during the financial year and 356 new stores were added, predominately in China and the USA. As our youth culture studies show, H&M is […]
Lululemon announced a new CEO on Tuesday, December 10, 2013 Laurent Potdevin,who was previously the President of TOMS Shows and before that, CEO of Burton Snowboards. In a video introduction, Potdevin describes how he plans to position the brand for global expansion. Lululemon has been dealing with brand backlash from its loyal fans ever since […]
American Eagle Outfitters reported their Q3 finances December 6, 2013, with dismal results of a drop in profits of 68.3%. Like many teen retailers facing a challenging economic climate and out of tune with the youth marketplace, American Eagle is struggling to figure out what to do. Robert Hanson, CEO stated, “Our financial performance is […]
Abercrombie & Fitch continues on its rocky road to turn-around, and announced several initiatives at its November 6th meeting. However today, November 21, 2013, the financials came out reporting $15.6 million net loss. Sales were down 11.7% to $1.03 billion from $1.67 billion in Q3 last year. The transfer of Gilly Hicks to their Hollister […]
Twitter went public yesterday (TWTR), Wednesday, November 6, 2013, offering 70 million shares at a price of $26 per share raising the IPO value to $14.1 billion. (In comparison, Facebook’s IPO last year was $16 billion.) But today, Thursday, on its first day of trading on the New York Stock Exchange, the stock increased in […]
Teen retailer Abercrombie & Fitch continues with their new plans at streamlining strategies and getting back to a core brand focus by announcing the closure of their Gilly Hicks stores by Q1 of 2014. Gilly Hicks as a brand however, will be relocated online and in their Hollister stores. At the announcement on November 6, […]
Billabong continues to struggle along, this time by selling 92 West 49 retail stores across Canada to YM Inc., owners of Sirens, Stitches, Urban Planet, and Bluenotes for approximately C$9 million-C$11 million or between USD $8.6-$10.5 million. In a statement Neil Fiske, CEO of Billabong, said, “The sale of West 49 is part of our […]
In their on-going efforts to streamline assets and reduce amounts drawn on its credit facilities, Quiksilver announced October 23, 2013 that it would be selling Mervin Manufacturing, owners of the popular snowboarding brands GNU and Lib Tech, to Extreme Holdings, Inc. an entity advised by Altamont Capital Partners, who also advised on the deal when […]
Once again, VF Corp’s Outdoor and Action Sports divisions are leading the charge for the mega-conglomerate with revenues up 5% to $3.3 billion and Vans up 16% in North America. The Q3 financials released Monday, October 21, 2013 indicate a strong quarter and changes including a 4-to-1 stock split. “VF is at its best when […]