The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Kohl’s Corp topped estimates for holiday-quarter net sales on Tuesday, as people staying at home due to the Covid-19 pandemic bought more from the department store chain’s online store.
Shares of the mid-priced chain rose 2 percent as it reinstated a quarterly dividend and said it would buy back shares worth $200 million to $300 million.
Department stores, including Kohl’s, have been doubling down on cookware, kitchen electrics, beauty products, athleisure apparel and activewear, as they look to beat lower demand for dresses and formal clothing from consumers working from home.
Kohl’s, which started selling Lands’ End Inc’s comfy clothes last year, now plans to launch its own athleisure brand FLX as it looks to increase store space allotted for activewear.
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Net sales fell to $5.88 billion in the fourth quarter from $6.54 billion a year earlier. The market expectation was $5.86 billion, according to IBES data from Refinitiv.
The mid-priced chain said it expects earnings per share to be between $2.45 and $2.95 for 2021, excluding certain charges. It is largely in line with expectation of $2.67 per share.
By Praveen Paramasivam; Editor: Arun Koyyur
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.