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.
American Eagle Outfitters Inc forecast higher spending for fiscal 2021 on Wednesday, as the apparel retailer plans supply chain investments to ensure fast delivery and easy shopping for consumers making online purchases.
The company said it expects annual capital expenditure to be in the range of $250 million to $275 million, up from $128 million in 2020.
Aerie, the company’s most popular brand, recorded a revenue rise of 25 percent in the fourth quarter ended Jan. 30 from a year earlier, while revenue at the American Eagle label fell 9 percent.
Digital revenue surged 35 percent surged, helped by features such as same-day delivery and curbside pickup.
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Net income came in at $3.5 million, or 2 cents per share, compared with a profit of $4.76 million, or 3 cents per share.
Total net revenue fell about 2 percent to $1.29 billion compared with analysts’ expectations of $1.28 billion.
The company incurred $103 million in pre-tax impairment and COVID-19 related charges in the quarter.
By Aditi Sebastian and Nivedita Balu; editor: by Shinjini Ganguli
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.