US teen clothing retailer American Eagle Outfitters has lifted its full-year earnings guidance, despite posting a decline in second-quarter profit due to costs related to the exit of its loss-making children’s brand 77kids.
US fashion firm Guess Inc has lowered its full-year earnings guidance after booking a decline in second-quarter net profit. The company blamed the decline on the impact of a weaker euro as well as negative same-store sales, higher occupancy and selling costs in Europe, and higher spending on advertising and marketing.
UK sports wear retailer JD Sports has announced plans to sell rugby apparel brand Canterburyto fashion brand operator Pentland Group Plc, and will acquire the OneTrueSaxon brand from the group in a separate deal. JD Sports said it agreed to sell Canterbury for GBP22.7m, and will acquire the OneTrueSaxon brand for GBP50,000.
Pacific Sunwear, a specialty retailer rooted in the sports, fashion and music influences of the California lifestyle, reported net sales for the second quarter of fiscal 2012 were 210.3 million dollars versus net sales of 200.9 million dollars for the same period last year.
Emilia Fabricant, who last week left her post as president of Bebe Stores Inc., has been appointed Executive Vice President of the Aeropostale brand. She will be responsible for all aspects of design, merchandising and production for the brand, and will report to Thomas P. Johnson, Chief Executive Officer.
Rebecca Damavandi has joined Kellwood Co. as group president of global business development, a new position for the apparel firm. Damavandi, who began on Monday, reports to Jill Granoff, Kellwood’s chief executive officer. Both Granoff and Damavandi are based in New York.
Men’s wear company Trinity Limited said its net profits rose 10.5 percent in the first half despite an adverse economic environment, but said it would curb the pace of store expansion this year in response to a slowdown in Chinese luxury consumption.
Australian general merchandise retailer Target has named Roberto Cavalli as its latest Designers for Target collaborator. “Target is delighted to collaborate with Roberto Cavalli, one of the world’s most famous and well regarded fashion designers,” said managing director Dene Rogers.
US women’s wear retailer Chico’s announced its financial results for the fiscal 2012 second quarter and twenty-six weeks ended July 28, 2012. For the second quarter it has booked a 23% rise in net profit as consumers responded well to new merchandise, helping it to sell more products at full-price.
Australian clothing and footwear company Pacific Brands has announced that CEO Sue Morphet will step down after the company booked widening full-year net losses. The company said that Morphet will be replaced by former Fosters CEO John Pollaers, effective 3 September.