Apparel Online India Magazine April 1st Issue 2019 | Page 12

RETAIL CURRENT APPAREL RESOURCES NEWSLETTERS FACEBOOK FRIENDS To subscribe, send us an email at [email protected] Join more than 10,000 people who are already fans of Apparel Resources on facebook. Search for Apparel Resources at https://www.facebook.com/apparelresources/ Ascena Retail Group sees rise in comparable sales in Q2 Ascena Retail Group, Inc., a US-based retail firm recently reported its financial results for its fiscal second quarter. Also adjusted loss of US $ 0.26 per diluted share was witnessed as compared to an adjusted loss of 0.12 per diluted share in the year- ago period. “We delivered our third consecutive quarter of enterprise- level comparable sales growth, with second quarter comparable up 2 per cent. While we were pleased with continued traction at the enterprise level, performance was again mixed across our portfolio. Our Premium segment continues its momentum, with double-digit comparable sales growth supported by key growth initiatives. Our Value segment, while still operating at an unacceptable level of profitability, delivered operating income improvement versus the year-ago period for the first time since the fourth quarter of fiscal 2015,” informed David Jaffe, Chairman and Chief Executive Officer, Ascena Retail Group. The company targets US $ 300 million as run-rate saving by July 2019 and continues to aggressively roll out capability enhancements in the marketing as well as merchandise planning functions so as to drive top line and margin rate improvement. Furla's growth continues; surpasses 500 million euros Furla, Italian luxury firm, ended FY 2018 with an astounding turnover of 513 million euros, which is an impressive increase of 5.2 per cent at constant exchange over 2017. What makes the numbers noteworthy is that the turnover has doubled over the last 4 fiscal years. The company is now all set to increase its portfolio, launching a wide range of sneakers. Expressing delight over the continuous growth, Alberto Camerlengo, CEO, Furla, said that the results are indeed very satisfying considering the difficult period the international market is going through. “The reason for our continued growth as an independent firm, is having a winning blend of key assets that include our staff, our extensive distribution network which continues to develop, and our constant research about the collections, their quality and design,” said Alberto. Furla has also been enhancing 12 Apparel Online India | APRIL 1-15, 2019 | www.apparelresources.com its presence in Asia-Pacific with 18.2 per cent growth in 2018. 26 per cent of company’s total revenue comes from the Asia-Pacific region. Also, it is worth noting that the EMEA region constitutes 44 per cent of company’s worldwide turnover. The company is presently in 98 countries with 285 owned stores and 163 franchise stores. Travel retail too saw a growth of 16.2 per cent last year, representing 7.3 per cent of Furla Group’s turnover owing to 293 points of sale, including stores, corners and shop-in-shops in 64 countries. Since February 2019, Furla has also ventured into sneaker market and the response so far has been good.