Vinted Moves Into Profit After 61% Sales Rise
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
Apollo Management International LLP provided the loan.
The baby products retailer slashed its outstanding net debt to just under £7 million after closing a third of its UK stores in the past 12 months, and is now hoping for a more solid financial footing.
The sportswear maker will let go of 3 percent of its global workforce to cut costs in its struggle to compete with Nike and Adidas in North America.
The chain plans to reduce its focus on brick-and-mortar shops, concentrating instead on licensing, e-commerce and selling through other retailers.
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Wal-Mart has been looking for ways to slim down its operations at a time of increasing e-commerce spending and rising wages for employees.
Michael Kors Holdings Ltd., Prada SpA, LVMH’s Louis Vuitton and Burberry Group Plc all reduced the number of styles introduced last quarter.
Some of the company’s $2 billion in debt becomes current in 2018, and J. Crew needs to revive its flagging business to stave off rising odds of default.
The casual clothing company Lands' End is naming the one-time chief executive of the high-end luggage maker Tumi as its next chief executive officer.
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Chief executive officer Richard Lepeu and chief financial officer Gary Saage will both retire next year, as the company reported a decline in first-half profit.
The world’s largest retailer is making an ambitious push into e-commerce in China and aims to deliver goods from its stores around the world to Chinese consumers within hours.
Sanpower Group, the Chinese owner of Britain’s House of Fraser department store chain, hired former Sailing Capital Management Co. managing director Michael Weiss to head its overseas dealmaking.
Hugo Boss said the head of its ailing US business, Gerrit Ruetzel, will be replaced at the end of the month after less than two years in the job.
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
The Barcelona-based firm set the price guidance at €24.50 per share, according to terms seen by Bloomberg News, giving the company an implied market value of €13.9 billion ($14.9 billion).
Chairman Reinold Geiger’s investment holding company, L’Occitane Groupe SA, is considering an offer for the Hong-Kong listed firm’s shares he does not already own, at HK$33 to HK$34 per share, the report said, citing people familiar with the matter.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.