A string of acquisitions piled up debts just as the industry entered a prolonged slump. Now, those debts are getting harder to manage.
In an interview with The Business of Beauty, E.l.f. chairman and chief executive Tarang Amin said the two brands recognised the “power” of joining forces.
The activewear company said earnings per share could be as high as $14.40 for the upcoming year with comparable store sales expected to gain 1 to 3 percent, signalling strength as it prepares to acquire the struggling Foot Locker Inc.
Hit hard by President Trump’s trade war and volatile markets, some publicly traded retailers are increasingly considering offers to sell to private equity.
Dick’s Sporting Goods’ acquisition of Foot Locker will have impacts on the rest of the industry, from brands such as Nike and Adidas to rival retailers like JD Sports.
Dick’s Sporting Goods’ surprise purchase of Foot Locker sets it up to be a major new player in the global sneaker market — if it can execute on its vision.
The newly-combined company, LuxExperience, which brings Mytheresa and Yoox Net-a-Porter under one roof, announced a €250 million strategy to create a profitable €4 billion luxury group.
Dick’s largest deal in the sporting goods industry will help the company expand to international markets for the first time.
Under the current deal, which could be announced as soon as Thursday, Dick’s will pay $24 per share for Foot Locker.
The German e-tailer’s ability to outperform a broader luxury slump was challenged by uncertainty in the US in its fiscal quarter that ended in March — a minor setback as it seeks to become a leader in online luxury.
The Paris-based documentary production company is The Independents’ second acquisition this year.
The two digitally-native brands will sell their products across both sites as the combined company aims to reach $100 million in annual sales in the next three to five years.
The Chinese beauty conglomerate’s revenue grew 29.8 percent in the latest quarter, but its profit decreased by double digits due to increased promotional expenses as it expands overseas.
Shares jumped after the group raised its annual revenue and profit forecasts and said it expected sales to return to growth.
The German sportswear business is attempting to reboot its brand appeal to better compete with larger rivals Adidas and Nike.
The Tata Group-owned business beat expectations, shoring up confidence in its fashion business after a period of sluggish performance.
Chasity Monroe has been appointed as the label’s chief executive as it undergoes a wider brand refresh.
The Korean firm and Medicube owner reported third quarter revenue growth of over 100 percent, mostly attributed to the expansion of its skincare range into new markets, channels and product categories.
Celebrity-makeup artist Ash K. Holm will join the “smart” mirror brand for a year-long partnership focusing on guidance and education.
Revenue growth outpaced the previous quarter in the Korean conglomerate’s domestic market, but slowed internationally.