Frank Prenesti
Frank Prenesti is a writer and editor based in London, specializing in business and politics. He has worked on several British national newspapers and was political correspondent in Westminster for more than a decade at newswires, including Reuters.
ArticleJD Sports holds guidance but cautious on tough consumer environment
The company said like-for-like sales in the six months to August 2 fell 2.5 percent to £5.9 billion (€6.7bn).
ArticleLululemon cuts FY forecasts as Trump tariff policy starts to hurt
The company now expects annual profit between $14.58 and $14.78 per share, compared with previous guidance of $14.95-$15.15.
ArticleJD Sports warns over US tariffs as Q1 sales, FY profits fall
Revenue rose 8.7 percent to £11.45 billion (€13.5bn). Gross margin fell 20 basis points to 47.8 percent reflecting the acquisitions.
News briefsAllbirds' net revenue decreased 18.3 percent in Q1
Net revenue decreased 18.3 percent to $32.1 million due to planned retail store closures and international distributor transitions.
ArticleXXL revenues rose 7.2% in Q1
The company’s turnaround plan shows progress in the first period of 2025.
News briefsBasicNet Q1 revenues fall 3.3% amid ‘unstable’ geopolitical and macroeconomic landscape
Consolidated first-quarter revenues to €98.3 million for the Italian group, which owns Kappa, Superga, and Sebago.
ArticleJD Sports warns on profit again as rivals discount stock
JD Sports has issued its second profit warning in two months, citing heavy discounting among market rivals.
News briefsFrasers warns on profits amid weak consumer confidence
Frasers Group has cut its full-year profit forecast, over weak consumer confidence and a tough trading environment, and has also been knocked out of the FTSE 100.
ArticleJD Sports warns profit will be at lower end of range after ‘volatile’ October
The retailer warns of lower profits as October sales slip amid discounting and consumer caution, but expansion plans fuel long-term growth hopes.
ArticleJD Sports interims beat forecasts but Nike woes worry investors
JD Sports posts a better-than-expected profit increase, maintaining growth plans despite volatile conditions and Nike’s revenue decline.
ArticleTopgolf Callaway reports earnings decline, lowers forecast
Topgolf Callaway lowered guidance after a “challenging” third quarter where like-for-like sales at its driving range venues came in lower than expected, leading to shares in the golf equipment and accessories maker to slump by almost a fifth in after-market trading in the US.
ArticleAdidas inventory cuts improve; sees strong demand for Samba, Gazelle
Adidas posted third-quarter figures in line with preliminary estimates released in October and added that its inventory-reduction plan had gone a little better than expected in the latest three-month period, also noting that retailers were “visibly” interested in its autumn/winter 2024 range, especially around its Samba, Gazelle and Spezial ranges.
ArticleJD Sports on track for FY profit rise as premium sneaker demand holds up
JD Sports Fashion said it was on track for a 5 percent rise in annual profit as demand for premium leisurewear such as Nike Air Force One and Adidas Samba sneakers pushed half-year sales higher despite the cost of living crisis. The retailer said revenue grew 7 percent to £4.7 ...
ArticleChina demand boosts Canada Goose Q1, but warns of slower Q2
Strong post-Covid pandemic demand from China for parkas has helped Canada Goose beat revenue estimates for its first quarter, but the company warned of below-estimate sales in the current three months due to softer demand amid a tougher US economic backdrop.
ArticleJD Sports sees softer North America but holds guidance
JD Sports Fashion reported some softening in trade in its North American business in June, but this would be offset by growth in demand in the UK, Europe and Asia Pacific – allowing it to maintain annual guidance. Despite the US and Canadian markets’ slowdown, the UK retailer still expects ...
ArticleWolverine explores options for Sperry as Q1 beats forecasts but conditions tighten
Wolverine Worldwide reported better-than-expected first quarter results and said it was exploring options for its Sperry footwear and apparel brand as it works to reshape its business amid a deterioration in market trends since the start of the year, macroeconomic concerns and a cold spring selling season that has hit ...
ArticleTopgolf Callaway beats Q1 forecasts but trims FY estimates as venue bookings slip
Topgolf Callaway Brands beat earnings and sales forecasts for its first financial quarter but trimmed profit forecasts as corporate bookings at its Topgolf venues tailed off slightly at the end of the three month period.
ArticleJD Sports unveils plans for sales growth, rapid store expansion
JD Sports Fashion has revealed plans to grow revenues and margins by double digits. Find out the strategy behind this plan.
News briefsMySale recommends shareholders accept Frasers buyout offer
MySale has recommended its shareholders accept Frasers Group’s offer to buy the stake in the online shopping group it does not already own, despite maintaining their belief that the bid price undervalues the company. Frasers has offered 2 pence in cash per remaining MySale share. The Australian fashion group said ...
News briefsFrasers Group sells ‘some’ retail parks for £205m
Frasers Group said it has completed the sale of some retail parks for £205 million (€242m). The company, which owns the Sports Direct and House of Fraser chains, said the disposal included a number of freehold and long leasehold retail parks held by its wholly-owned subsidiaries to RI UK 1 ...
