Adjust is on the horizon for Coach Outlet in France. The British label, initially from Germany, has just set up a French subsidiary named Dr Martens Airwair France SAC nevertheless it wont be starting from scratch. For the previous seven years the brand has been distributed from the Aubervilliers-based GPG Firm, which also distributes Vagabond and can present sneaker brand Pastry at the upcoming edition of Who Next.The new subsidiary shall be created up of the team that worked on the account at GPG Corporation, and will also remain in the same offices until the end of 2012.R Griggs & Co, the group which still owns the label C even if the rumour that its on sale for 200 million pounds (249 million euros) is gaining strength Coach Outlet Online C has opted to hand the management on the French subsidiary to Philippe Lentz. Lentz, CEO on the Berger group from 2004 to mid-2011, was also previously Marketing Director for Guerlain, part in the LVMH group.Whilst the Patrick Genestier-led GPG Firm will say goodbye to the brand, it will retain control on the three Dr Martens stores, which it owns, until the finish of your year. Once the transition is complete, the Burberry Outlet Online stores in Paris, Rennes and Lyons will become multi-brands. The French group added that it will continue to act as a distributor for various brands, which Burberry Outlet will be announced after Bread & Butter.
By Alexandria Sage
SAN FRANCISCO, Nov 18 (Reuters) – Limited Brands,(LTD.N) owner of your Victoria’s Secret and Bath & Body Works chains, posted a higher than expected quarterly profit on Wednesday 18 November and raised its full-year earnings view.
Shares rose 3.7 percent after hours.Cost-cutting and more controlled inventory has helped offset sales declines in the firm, whose products have proved dispensable to consumers within the economic downturn.
“They had very solid numbers,” said Jefferies analyst Randal Konik, who cited stabilization at Victoria’s Secret and momentum at Bath & Body Works.
He added that Wall Street expects them to continue beating expectations amid ongoing Canada Goose streamlining in the company: “The fourth-quarter outlook is still conservative.”
The mall-based retailer, which has faced a prolonged slump in traffic to its stores, said third-quarter net profit was $14.85 million, or 5 cents per share, as compared to $4.12 million, or 1 cent per share, a year earlier.
Excluding the tax benefit, the business earned 2 cents per share. That was above the 1 cent per share loss expected, on average, by analysts, according to Thomson Reuters I/B/E/S.
As previously reported, revenue fell 3.5 percent to $1.78 billion. Same-store sales, a key gauge of Canada Goose Jackets retail strength, fell 2 percent.
Limited has struggled with sales for more than a year as U.S. consumers have cut their spending for nice-to-have items such as lingerie and bath products. But the firm has cut costs and lowered inventory to compensate.
General, administrative and store operating costs fell by 6.5 percent within the quarter.
The provider said in October that it hoped to return to a 15 percent operating margin by 2012 — compared to its 2008 margin of 7.9 percent. But that will require sales to pick up and further cost-cutting, executives said.
Looking to the fourth quarter, Limited said it expects earnings per share to range between 71 cents to 86 cents, with full-year adjusted earnings between 93 cents to $1.08 per share.
In August, Limited said that adjusted earnings per share would range between 75 cents and 90 cents.
Shares, which have nearly tripled since a year low of $6.26 in March, rose 3.7 percent to $18.95 after closing at $18.27 on the New York Stock Exchange. (Reporting by Alexandria Sage, editing by Leslie Gevirtz)
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