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Carter's Q3 sales drop but earnings up 4.8 percent

Carter’s, Inc. said in a statement that net sales for the third quarter decreased 78.2 million dollars or 8.3 percent to 865.1 million dollars reflecting decreased sales to certain wholesale customers, decreased traffic to company-operated stores, and decreased back-to-school sales due to ongoing disruptions related to the Covid-19 pandemic, partially offset by strong ecommerce channel growth. U.S. Retail segment comparable sales declined 3.5 percent, reflecting a retail store decline, partially offset by ecommerce growth of 17.2 percent. Net income for the quarter increased 21 million dollars or 34.8 percent to 81.2 million dollars or 1.85 dolars per diluted share, while adjusted net income increased 2 million dollars or 2.3 percent to 85.9 million dollars and adjusted earnings per diluted share...

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Calvin Klein appoints new global CMO

PVH-owned brand Calvin Klein has appointed Linh Peters as its new global chief marketing officer (CMO), effective 2 November. Peters’ role will include data-driven and product marketing, driving an engaging brand experience and overseeing all aspects of Calvin Klein’s consumer marketing organisation. The fashion retailer’s current chief brand officer, Greg Stogdon and CMO, J.D. Ostrow, will work in close partnership with Peters to build on the brand positioning and creative direction. Most recently, Peters worked for Starbucks as its vice president of loyalty, partnerships and licensed stores product and marketing. In this role, she oversaw the company’s loyalty programme and all its digital consumer engagement strategies and marketing. Prior to this, she was the company’s vice president of brand and...

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Stitch Fix appoints Youtube's chief product officer to board

US online styling service Stitch Fix has appointed Youtube’s chief product officer Neal Mohan to its board of directors. Mohan has been at the Google-owned video platform for five years where he’s responsible for YouTube products, user experience, and trust and safety on all platforms and devices globally. Prior to that, he was senior vice president of display and video ads at Google. “I'm excited to welcome Neal to our Board of Directors,” Stitch Fix founder and CEO Katrina Lake said in a statement. “He brings tremendous digital product leadership and outstanding operational experience. As we continue to revolutionize the consumer shopping experience and help our clients find what they love, Neal's insight and expertise will be invaluable.” Mohan commented:...

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Adidas reportedly mulling sale of Reebok as early as March

German sportswear giant Adidas is reportedly mulling a sale of Reebok and could be looking to offload it as early as March 2021. Chinese sportswear giant Anta Sports and VF Corp, the US company behind brands Vans, The North Face and Timberland, could be among interested bidders, according to German business publication Manager-Magazine, which didn’t provide a source. Neither Adidas or Reebok have yet commented on the report. Adidas looks to offload Reebok The publication also said Adidas had written down the book value of Reebok by almost half to 842 million euros in the past two years. If it were to go ahead, the deal would put an end to a relationship that hasn’t been as fruitful as Adidas...

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UK retail sales continue to improve in September

UK retail sales increased by 1.5 percent in September compared to August, marking the fifth consecutive month of growth. Sales are now 5.5 percent higher than they were at February's pre-pandemic levels, according to the Office for National Statistics (ONS). In the three months to September, retail sales volumes increased by 17.4 percent compared with the previous three months - the biggest quarterly increase on record as sales picked up from record-low lockdown levels. Non-food store sales have now made a recovery at 1.7 percent above February levels. The proportion of online sales was at 27.5 percent, compared with 20.1 percent reported in February. Responding to the ONS figures, Helen Dickinson, CEO of the British Retail Consortium (BRC), warned that...

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