Goal’s Discretionary Pullback Results in Profit Gains, But Outlook Cut

16 Aug

Goal Corp. turned in a really profitable second quarter and simply topped bottom line expectations, after cutting inventory and pulling back on discretionary categories like apparel. But a cautious consumer and sales weakness is anticipated to catch as much as the retailer, which also cut its outlook for the yr. Net income for the quarter shot up greater than 4 times to $835 million, or $1.80 a diluted share, from $183 million, or 39 cents, a yr earlier. Earnings per share got here in 37 cents ahead of the $1.43 analysts expected, in keeping with FactSet. Still revenues for the three months ended July 29 fell 4.9 percent to $24.8 billion from $26 billion. And comparable sales dropped 5.4 percent with growth within the...

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27 Jul

GlossGenius Gains Series C Investment – WWD

by Beautifaire101

Beauty, Featured

GlossGenius, a software platform for beauty salons, has raised $28 million in series C funding. The equity round was led by L Catterton Growth Fund, with participation from Bessemer Enterprise Partners and Imaginary Ventures at a $510 million valuation. Launched in 2016 by Princeton graduate Danielle Cohen-Shohet, GlossGenius’s technology manages small business’ end-to-end workflows across their back-office and front-office resembling payments, bookings, inventory, expenses, marketing, communications, analytics, web site design and more. Based on L Catterton, it serves around 50,000 beauty professionals within the U.S. currently. On the brand new investment, Cohen-Shohet, who's chief executive officer, said: “L Catterton is considered one of the leading global consumer-focused investment firms. They've very deep roots in the wonder, wellness industry, having invested in some iconic...

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17 Jun

As Atlanta’s Arts and Film Scene Gains Traction, SCAD

by Beauty Tips

Fashion, Featured

Consistent with the strengthening arts and entertainment industry in Atlanta, the Savannah College of Art and Design’s SCAD FASH Museum of Fashion + Film has tapped Alex Delotch Davis as executive director. Within the role, Delotch Davis, whose background includes 15 years of luxury, fashion management and humanities activations, may also oversee the museum’s outpost in Lacoste, France. She succeeds Alexandra Sachs, who spent 10 years on the university. The brand new hire knows the university well, having earned a master’s in luxury and fashion management from SCAD. Apart from attracting visitors to the museum and enriching the world’s cultural heritage with latest ventures, movies, exhibitions and programming, SCAD FASH Museum of Fashion + Film helps the local economy. The creative industries in...

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26 Apr

Dibs Beauty Gains L Catterton Investment – WWD

by Beautifaire101

Beauty, Featured

L Catterton is betting once more on the founders of Tula Skincare. The private equity firm has just made a “significant” growth investment in color cosmetics brand Dibs Beauty, launched in September 2021 by Tula Skincare founders Ken Landis (who also cofounded Bobbi Brown Cosmetics) and Dan Reich, with Austin, Texas-based influencer Courtney Shields and former chief operating officer of A-Rod Corp Jeff Lee. Terms of the transaction weren't disclosed. “L Catterton has the expertise and agility to assist us turn into the leader in multifunctional, effortless makeup,” said Lee, chief executive officer of Dibs. “Our makeup goes where our customers go, and we intend to fulfill them each across our rapidly expanding digital channels and in brick-and-mortar retailers.” Shields added: “The explanation this...

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