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24 Nov

Kohl’s Posts Q3 Declines, but Cites Progress on Strategic Initiatives

by Beautifaire101
Beauty, Featured
Kohl’s Posts Q3 Declines, but Cites Progress on Strategic Initiatives
Updated Nov. 21 at 11:37 a.m. EST Kohl’s Corp. last quarter continued to yield sales and profit declines, but raised its bottom-line outlook for the yr and cited progress on turnaround strategies. On Tuesday, the Menomonee Falls, Wisc.-based retailer reported that its net income for the quarter ended Oct. 28 fell to $59 million, or 53 cents per diluted share, beating expectations of 35 cents. Within the year-ago period, net income reached $97 million, or 82 cents per diluted share. Operating income was $157 million in comparison with $200 million within the prior yr. As a percentage of total revenue, operating income was 3.9 percent, a decrease of 82 basis points year-over-year. Net sales decreased 5.2 percent year-over-year, to $3.8 billion, with comparable sales down 5.5...
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29 Oct

Tracking Diversity Progress at Beauty’s 20 Biggest Firms –

by Beautifaire101
Beauty, Featured
Tracking Diversity Progress at Beauty’s 20 Biggest Firms –
When the murder of George Floyd by a Minneapolis police officer sparked a worldwide racial reckoning in 2020, corporations and individuals alike rallied at an unprecedented scale to pledge their commitment to advancing racial justice. In the wonder realm, the Estée Lauder Cos. and Unilever each made commitments to extend spend with diverse ingredient and packaging suppliers; LVMH Möet Hennessy Louis Vuitton sent out an internal memo declaring its “unyielding dedication to inclusivity” and rolled out plans for unconscious bias worker trainings; L’Oréal established a Global Diversity, Equity and Inclusion Advisory Board, and Procter & Gamble launched its “Tackle Race” fund to support racial justice organizations. The list goes on. A typical theme among the many flurry of company-issued statements within the...
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1 Jun

Nordstrom Reports Q1 Loss, Cites Progress in Improving Operations

by Beautifaire101
Beauty, Featured
Nordstrom Reports Q1 Loss, Cites Progress in Improving Operations
Nordstrom Inc., impacted by declining revenues and charges related to the withdrawal from Canada, reported a net lack of $205 million in the primary quarter, in comparison with a profit of $20 million within the year-ago period. For the primary quarter ended April 29, the Seattle-based retailer recorded $309 million of estimated pre-tax charges related to the wind-down of Canadian operations, consistent with its previously estimated range of $300 million to $350 million. The primary quarter 2023 results include Canadian operations through March 2, when it discontinued support for Nordstrom Canada. The corporate is early within the wind-down process and your entire shutdown of Nordstrom’s Canada operations — six shops, seven Rack units and e-commerce — needs to be accomplished this month. Nordstrom’s loss before interest and tax was $259...
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27 Mar

Macy’s Inc. Issues Progress Report on Corporate Citizenship

by Beautifaire101
Beauty, Featured
Macy’s Inc. Issues Progress Report on Corporate Citizenship
From using recycled cardboard for fulfilling orders to showcasing diverse brands, Macy’s Inc. is reporting progress on its multiyear social purpose platform called “Mission Every One.” The platform, launched in 2022 as reported by WWD, calls for Macy’s to speculate $5 billion through 2025 on vendor and repair partners, products, people and programs that foster equality, inclusiveness and sustainability. On Monday, Macy’s cited several accomplishments last yr, amongst them: Roughly $1.4 billion of the $5 billion was spent to support diverse-owned businesses. Through leadership skills programs and a concentrate on hiring, retention and promotions, 29 percent of those filling jobs on the director level and above are ethnically diverse, putting Macy’s well heading in the right direction to realize its 30 percent goal...
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