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Hugo Boss meets 2018 targets, reveals Q4 sales growth of 7 percent

On a preliminary basis, Hugo Boss Ag said that group sales grew by 7 percent in the reporting currency and 6 percent in local currencies to 783 million euros (889 million dollars) with both the company’s own retail business and the wholesale business recording positive growth. On non-audited basis, Hugo Boss achieved sales of 2,796 million euros...

Management|ANALYSIS

Debunking Sear’s eleventh-hour rescue plan

New York - Sears’ chairman Eddie Lampert reached a deal with Sears early this month to acquire 425 Sears stores and other assets for about 5.2 billion dollars after winning a bidding process. Lampert’s ESL Investments will put 850 million dollars into a new asset-based loan, according to a regulatory filing last from January, 18. "We are pleased...

Management

Chad Leat replaces Millard Drexler as Chairman of J.Crew Group

J.Crew Group, Inc. chairman and former chief executive officer Millard "Mickey" Drexler has retired to devote his full time to the development of Drexler Ventures, LLC and other interests. The company said that its board of directors has now elected Chad Leat to succeed Drexler as Chairman, effective immediately. Leat has served as a director of...

Management|ANALYSIS

Fossil Inc. sells its smartwatch technology to Google: stock soars

New York - The American group of watches and accessories Fossil Inc. has just announced the sale of its technology for the manufacture of smartwatches to Google. As announced on Thursday evening via statement, the deal includes Fossil’s intellectual property and part of the research and development team. The sale has been closed for around 35...

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