Ceo Jay Schottenstein reflects on fashion, the future of retail and plans for Aerie’s Jennifer Foyle to work with the AE brand.
The DKNY and Donna Karan parent company expects revenues to decline another 28 percent to 33 percent in the back half of the year.
But strong digital demand, international growth and health and wellness trends leave the company looking to the future.
Despite nearly $52 million in losses, the company sees strength in its digital and international businesses.
Strong e-commerce sales and the addition of jewelry brand Pura Vida for the full quarter proved to be the crown jewels.
“I really would like this company to become a product-driven, product-centric.”
Meanwhile, the luxury jeweler and LVMH have three more months to complete the $16.2 billion merger.
Coty’s numbers took a big hit from coronavirus, but chairman Peter Harf expects profitability to return in fiscal 2021.
But Wall Street was satisfied with the firm’s growing e-commerce businesses.
Company shares shot up more than 15 percent after the retailer announced a $34 million quarterly profit driven by its growing e-commerce businesses.
“The Lipstick Index has been substituted by the Moisturizer Index.”