- Prachi Singh |
VF Corporation has been recognized as one of the 2018 world’s most ethical companies by the Ethisphere Institute. The company said in a statement that VF is the only apparel company to make to the list, underscoring the company’s commitment to leading its industry through ethical business standards and practices.
“We are honoured to be once again recognized as one of the world’s most ethical companies,” said Steve Rendle, VF’s Chairman, President and CEO in a media release, adding, “At VF, we believe that business success and social responsibility are interconnected.”
The world's most ethical companies assessment is based upon the Ethisphere Institute’s Ethics Quotient (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies in the areas of corporate governance, risk, sustainability, compliance and ethics.
“While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society’s strongest force to improve the human condition. This year we saw companies increasingly finding their voice,” added Ethisphere’s CEO, Timothy Erblich.
Picture:VF Corporation website
- Prachi Singh |
The board of directors of Dick’s Sporting Goods, Inc. has authorized and declared a quarterly dividend of 0.225 dollar per share on the company's Common Stock and Class B Common Stock, payable in cash on March 30, 2018, to stockholders of record at the close of business on March 9, 2018. This dividend represents an increase of approximately 32 percent over the company's previous quarterly per share amount and is equivalent to an annualized rate of 0.90 dollar per share.
"The significant increase in our dividend demonstrates the strength of our balance sheet and the confidence we have in our company's future," said Edward W. Stack, Chairman and CEO in a statement, adding, "We remain firmly committed to investing in the profitable growth of our business and returning capital to our shareholders."
Picture:Facebook/Dick's Sporting Goods
- Prachi Singh |
Nike Inc’s board of directors has announced a quarterly cash dividend of 0.20 dollar per share on the company’s outstanding Class A and Class B common stock payable on April 2, 2018, to shareholders of record at the close of business on March 5, 2018.
The company based near Beaverton, Oregon, reported 5 percent sales rise in the second quarter in December, driven by international geographies and continued strength in Nike Direct, partly offset by an expected decline in North America wholesale revenue.
- Angela Gonzalez-Rodriguez |
Honigman Style, an Israeli fashion retailer that operates three major Israeli clothing chains: Honigman Women, Honigman Kids and TNT, has filed for court protection from its creditors.
The move was announced Wednesday, when the retailer filed for court protection from creditors in the Nazareth District Court. The retailer is looking to continue operating in a way “that will enable the company to set out on a new path,” the Honigman group said in a statement.
The court ordered the appointment of an accountant, Boaz Gazit, and a lawyer, Keren Reichbach-Segal, as trustees during the period of the stay, which at this point was ordered for 60 days. The trustees were given authority to run the company, seize assets, promote various business interests and run the retailer during the period of their appointment.
The Honigman group runs 150 stores in Israel for its younger consumer brands, Honigman Women, Honigman Kids and TNT.
Owned by Yaakov and Micha Honigman, the group launched as a single children’s clothing store in Tel Aviv in 1947. It incorporated as Honigman and Sons over 30 years ago and changed its management earlier this year, with the departure of CEO Kobi Moiseh. The company’s former CEO, Micha Ronen, took the reins back.
- Angela Gonzalez-Rodriguez |
Equities research analysts expect Express, Inc. (NYSE:EXPR) to announce 691.56 million dollars in sales for the current quarter.
Zacks reports that several analysts estimate Express’ earnings to come in between 668.70 million dollars to 713.40 million dollars.
Express reported sales of 678.78 million dollars during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9 percent. The company is expected to issue its next earnings report on Wednesday, March 14.
According to Zacks, analysts expect that Express will report full-year sales of 691.56 million dollars for the current financial year, with estimates ranging from 2.11 billion dollars to 2.14 billion dollars.
For the next year, analysts expect that the company will post sales of 2.10 billion dollars per share, with estimates ranging from 2.09 billion dollars to 2.11 billion dollars.
- Angela Gonzalez-Rodriguez |
The Canadian retailer Tire Corp Ltd (CTCa.TO) reported a better-than-expected quarterly profit on Thursday.
The auto-inspired car accessories and apparel brand benefited from an early winter in some parts of the country, which fostered demand for winter tires, batteries and apparel.
As a result, same-store sales at FGL Sports, which the company touts as its destination banner for millennials, rose 5.8 percent in the quarter, according to Reuters.
Group’s consolidated same-store sales rose 3.9 percent over their fourth in the fourth quarter.
Net income attributable to the retailer rose about 12 percent to 275.7 million Canadian dollars (220.68 million U.S. dollars), or 4.10 Canadian dollars per share in the quarter. These figures compare against analysts’ expectations of a profit of 3.80 Canadian dollars per share, according to Thomson Reuters I/B/E/S.
- AFP |
Luxury watch sales in France surged last year as deep-pocketed tourists, notably Chinese, returned after terrorism fears waned, an industry body said Thursday.
Sales of watches worth more than 5,000 euros (6,200 USD) each saw an increase of eight percent in 2017 over 2016, a year when visitor numbers dwindled following a series of terror attacks in France, the Franceclat body said in its annual report.
"The return of tourists, notably Chinese, explains much of the rebound in watch purchases," the report said. Overall sales of jewelry, watches and gold accessories rose one percent year-on-year to 5.6 billion euros, after a two-percent drop in 2016. "Watches have become the main contributor the sector's overall development in 2017," Franceclat said.
Watches across all price ranges clocked up a four-percent increase last year, after a drop of six percent in 2016. The luxury watch segment accounts for just 0.5 percent of unit sales in that market, but for one third of overall revenue. "The whole high-end market is back on track, boosted by the Place Vendome houses," Franceclat said, in reference to a traditional Paris neighbourhood for luxury accessories.
Paris saw a drop of 1.5 million tourists in 2016 as fears linked to terror attacks scared off visitors, especially from China and Japan. In November 2015, 130 people were killed in Paris when gunmen and suicide bombers from the Islamic State jihadist group attacked bars, restaurants, a concert hall and the Stade de France national stadium.
That attack came 10 months after two jihadist gunmen shot dead cartoonists and journalists at the Paris offices of satirical newspaper Charlie Hebdo. France is the world's number one tourist destination. (AFP)
- Prachi Singh |
Tapestry, Inc’s board of directors has declared a quarterly cash dividend of 0.3375 dollar per common share. The company said, dividend is payable on April 2, 2018 to shareholders of record as of the close of business on March 9, 2018.
Tapestry expects revenues for fiscal 2018 to increase about 30 percent versus fiscal 2017, to 5.8 to 5.9 billion dollars, with low-single digit organic growth and the acquisition of Kate Spade adding over 1.2 billion dollars in revenue. The company has also projected earnings per diluted share in the range of 2.52 dollars-2.60 dollars, an increase of about 17 percent to 21 percent for the year, including mid-to-high single digit accretion from the acquisition of Kate Spade.
- Prachi Singh |
Sales at Asics in the fourth quarter increased 3.8 percent to 89.9 billion Japanese yen (0.8 billion dollars), reports the brand in a press release. The Japanese company reported an operating loss of 4.85 billion Japanese yen (0.04 billion dollars) against 4 billion Japanese yen (0.03 billion dollars) in the same period last year. The net loss shrunk to 2.8 billion Japanese yen (0.02 billion dollars) against 3.1 billion Japanese yen (0.029 billion dollars), in the same quarter last year.
For the full year, consolidated net sales increased 0.3 percent to 400.2 billion Japanese yen (3.7 billion dollars), decreasing 2 percent on a currency-neutral basis. Gross profit increased 3.8 percent to 183.3 million Japanese yen (1.7 million dollars), however net profit fell 16.7 percent to 12.97 billion Japanese yen (0.1 billion dollars) due to loss incurred on business restructuring in the European region.
Highlights of Asics’ full year results
Domestic net sales for the year decreased 0.5 percent to 101.1 billion Japanese yen (0.95 billion dollars) mainly due to weak sales in sportswear, despite steady sales of running shoes. Overseas sales increased 0.5 percent but decreased 2.6 percent currency-neutral to 299.1 billion Japanese yen (2.8 billion dollars), mainly due to weak sales in the American and European regions, despite strong sales of running shoes and Onitsuka Tiger shoes in the Oceania/Southeast and South Asian regions as well as the East Asian region.
In other regions, Asics America widened its loss in the fourth quarter but saw earnings improve in the full year. In the fourth quarter, operating loss in the America was 1.97 billion Japanese yen (0.01 billion dollars) against a loss of 858 million Japanese yen (8 million dollars) in the same period a year ago. Sales in the America declined 7.2 percent to 23.9 billion Japanese yen (0.2 billion dollars) from 25.7 billion Japanese yen (0.24 billion dollars). For the full year, sales in the American region decreased 6 percent or 7.7 percent on a currency-neutral to 106.2 billion Japanese yen (0.9 billion dollars), due to weak sales in the US.
Sales in Japan decreased 0.4 percent to 119.46 billion Japanese yen (1.12 billion dollars), due to poor sales in the sportswear segment. Segment income decreased 6.3 percent to 5.89 billion Japanese yen (0.05 billion dollars). In the European region, sales decreased 1.2 percent or 5.4 percent on a currency-neutral basis to 106.3 billion Japanese yen (0.9 billion dollars). In the Oceania/Southeast and South Asian regions, sales increased 15.1 percent or 9.5 percent on a currency-neutral basis to 27.7 million Japanese yen (0.27 million dollars), due to the strong sales of running shoes and Onitsuka Tiger shoes.
In the East Asian region, sales increased 13 percent or 10.4 percent on a currency-neutral basis to 49.1 billion Japanese yen (0.46 billion dollars), due to the continuing strong sales of running shoes and Onitsuka Tiger shoes in China, despite lower sales in South Korea due to restructuring current retail stores.
Asics predicts 6.2 percent sales growth for FY18
For 2018, Asics expects sales to improve 6.2 percent to 425 billion Japanese yen (3.9 billion dollars) and operating income is expected to reach 20 billion Japanese yen (0.18 billion dollars), up 2.2 percent and net profit, 12 billion Japanese yen (0.1 billion dollars).
Aiming for global growth, Asics had launched a five-year strategic plan, ‘Asics Growth Plan (AGP) 2020’, as its management target since launch in 2015, and has been aiming to achieve 750 billion Japanese yen (7.05 billion dollars) in sales, 10 percent in operating income ratio and 15 percent in ROE by FY2020. However, the company said, mainly due to changes in the consumer trend and sales channels, sales has stayed around 400 billion Japanese yen (3.7 billion dollars) till 2017, so the company has decided to revise its plan, in order to put Asics back on its further growth path, through the priority allocation of its resources to growth areas and the improvement of profitability.
- Vivian Hendriksz |
London - Contemporary British fashion brand AllSaints has signed a licensing agreement with Global Brands Group (GBG) to expand its accessories range.
The new agreement will see the Hong-Kong listed firm design, manufacture and distribute a range of women's and men's accessories for the brand, including footwear, socks, jewelry and cold weather accessories. The deal will see GBG beginning to distribute the new ranges globally across all AllSaints stores and main department stores, starting with its autumn/winter 2018 collection.
AllSaints currently offers footwear and small leather accessories, such as wallets and cardholders next to its mainline fashion collections. The British fashion label launched its first handbag range in 2015, which continues to do well but is keen to expand across numerous product categories to reach more consumers.
"With its innovative, contemporary designs and independent spirit, AllSaints is a perfect addition to our strong portfolio of leading consumer brands," said Jarrod Kahn, president, accessories, and home, Global Brands Group in a statement. "As a brand that resonates with consumers globally, we see significant opportunities for growth, and look forward to leveraging our expertise to maximize its potential."
GBG is part of the Fung Group. It currently oversees licensing for a number of fashion brands including Tommy Hilfiger, Kate Spade, Juicy Couture and Under Armour.
Photo: courtesy of AllSaints