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Prada plots 80 new stores for 2013 Saturday, 18th May 2013
Prada Group is set to continue its steady rate of global expansion as it looks to open up to 80 new stores in 2013, focusing on Asia, the Gulf countries and North America. The Italian fashion house’s Miu Miu brand will also launch a bevy of new stores in China, despite the fluctuating market conditions in the region.
Pandora’s profit for 1Q lifts shares to 2 year high Wednesday, 15th May 2013
Pandora’s core earnings beat forecasts for its first quarter showing that the company's chief executive, Bjorn Gulden's strategy to revert to 'affordable luxury' products is paying off.
LK Bennett plots store openings in China Monday, 13th May 2013
LK Bennett becomes the latest luxury retailer to open its stores to the Chinese market. The news comes after a spokesman told the Mail On Sunday that a deal with China is ‘looking very close’ and could be signed as early as the summer. Financial reports show that profits before finance charges had rose 37 per cent to GBP 11 million for the financial year.
Jimmy Choo opens new London store Friday, 10th May 2013
Jimmy Choo have opened their new men’s boutique, replacing the old store in Burlington Arcade. The new store is located in an historic Georgian townhouse on Dover Street, and sells a premium assortment of men’s accessories, bags and shoes. The shops décor consists of vintage furniture, a marbled top, mirror edge bar, and a masculine colour scheme of charcoal, black and silver, with felt, tweed and zebra detail.
Kate Spade sales up 22% as Fifth & Pacific narrows losses Thursday, 2nd May 2013
Kate Spade and Lucky Brand owner Fifth & Pacific Cos. Inc., on Thursday posted upbeat first quarter results after managing to narrow its loss from last year. In the three months to 30 March, net loss came in at USD 52.2 million, or 44 cents a diluted share for Fifth & Pacific, an improvement on the USD 60.6 million, or 60 cents a share recorded a year ago.
Hugo Boss hit with fall in Q1 sales Thursday, 2nd May 2013
Hugo Boss reported a bigger-than-expected fall in first-quarter sales as tough trading in Europe and a slowdown in Asia hit home for the German fashion house. Sales eased by 2 per cent to £593 million for the first quarter, while EBITDA fell 11 per cent to £133 million. A Reuters’ consensus poll expected flat results, with analysts forecasting a core profit decline between 7 and 13 per cent.
Jones Group announces US store closures Thursday, 25th April 2013
The Jones Group Inc., parent company to Nine West, Kurt Geiger and Jones New York, has announced it will close around 170 of its underperforming US stores by mid-2014. The company will also cut its workforce by 8 per cent as part of the measures announced on Wednesday, which Jones Group Inc said would cost around USD 40 million to USD 60 million over the next 15 months as it looks to turnaround its profits.