HBC, the owner of Saks Fifth Avenue, said on Friday it would launch the luxury department store’s e-commerce segment as a separate business following a $500 million infusion from a U.S. private equity firm.
The New York-based beauty conglomerate has announced the creation of its new Equity and Engagement Center of Excellence. The center will be led by Nicole Monson, who has been with the company since 2014.
Despite sales declines related to the ongoing Covid-19 pandemic, the lifestyle group managed to achieve a 46.2% increase in its fourth-quarter earnings, which totaled $28.57 million, or $0.29 per diluted share.
American Eagle Outfitters said it expects current-quarter revenue and operating income to surpass last two years’ numbers, betting on high-growth brand Aerie that sells work-from-home favorites lingerie and loungewear.
Chancellor Rishi Sunak has unveiled what has been touted as the most important budget statement in decades. And there's plenty in the latest announcement that directly impacts the fashion and retail sectors.