Cortefiel SA

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SPAIN: Cortefiel Q1 Sales Jump 15% To $222m | 30 Jun 03

Top Spanish fashion chain Cortefiel on Friday posted a 15.4 per cent hike in first quarter consolidated revenue to 194.5 million euros ($222m) from the year-ago period. The company said same-store sales for the 13 week quarter rose nine per cent at group level and 13 per cent in Spain, with sales in self-owned stores up 14.6 per cent to 179.2 million euros from 156.3 million euros in 2002.

SPAIN: Cortefiel Sells Stake In Don Algodon | 24 Jun 03

Spanish fashion group Cortefiel has sold its 50 per cent stake in youth-oriented fashion brand Don Algodon to the label's founder in order to focus on its own brand.

FRANCE: Tibbett & Britten Wins Major Rodier Deal | 28 Apr 03

Tibbett & Britten France has revealed it has won a major long-term deal to handle the logistics operations of leading French fashion company Rodier. The wholly-owned unit of Tibbett & Britten Group Plc said Rodier has outsourced its 226,000 square foot national distribution centre in Cambrai.

SPAIN: Cortefiel Embarks On $44m Expansion Drive | 25 Apr 03

Spanish fashion chain Cortefiel has revealed it plans to invest around $44 million in nearly 110 new stores in 2003.

SPAIN: Cortefiel Posts Profit Plunge On Weak German Sales | 23 Apr 03

Leading apparel chain Cortefiel SA on Wednesday posted a 30 per cent plunge in full year net profit to 20.5 million euros from 2001 as it was hit by one-off items and weak German sales.

USA: Russell Corp Buys Spalding Sports For $65m | 17 Apr 03

Russell Corporation today revealed it is to buy the brand names, inventory, contracts and related assets of Spalding Sports Worldwide Inc for $65 million in a move that expands Russell's position as an athletic company. Spalding produces basketballs, volleyballs, footballs and soccer balls under the Spalding brand name and of softballs under the Dudley brand.

SPAIN: Cortefiel To Axe Some German Stores? | 21 Jan 03

Leading Spanish fashion chain Cortefiel may sell some of its stores in Germany if the country’s economy does not pick up, it was reported on Tuesday.

SPAIN: Cortefiel Q3 Profit Soars 50% | 14 Jan 03

Leading fashion chain Cortefiel SA on Tuesday posted a 50 per cent jump in third quarter net profit to 10 million euros from 6.6 million euros in the year-ago period.

SPAIN: Cortefiel H1 Profit Plunges 97% | 24 Oct 02

Spanish fashion giant Cortefiel on Thursday posted a 97.1 per cent year-on-year plunge in first half net profit as it was hit by continued expansion into international markets and a charge for shutting an internet venture. The company said in a news release profit in the six months to August 31 plummeted to 393,000 euros while sales rose 3.7 per cent to 364.8 million euros. It also opened 37 new stores in the period.

SPAIN: Cortefiel Signs Lingerie Logistics Deal With Tibbet & Britten | 16 Oct 02

Spanish fashion giant Cortefiel has signed a deal with transportation and logistics group Tibbet & Britten Iberia for the distribution and warehousing services of its intimate apparel brand Women's Secret.

ITALY: Benetton To Sell Sports Unit To Head? | 9 Oct 02

Italian fashion group Benetton SpA was on Wednesday reported to be in talks over the possible sale of its sports equipment unit to Head.

CANADA: Hudson Bay Says "Si" To Springfield Brand | 4 Oct 02

Canadian men will soon be able to snap up one of Europe's most popular casual clothing labels after Hudson's Bay Co secured the received exclusive rights to Cortefiel Group's Springfield clothing brand. The Toronto-based company said the line designed by the Spanish fashion giant is targeted at the young urban student and professional male aged 20-35 and will be available to customers starting in March 2003.

SPAIN: Cortefiel To Sell Don Algodon Stake | 19 Sep 02

Leading Spanish apparel chain Cortefiel on Thursday revealed it will sell its stake in youth fashion retailer Don Algodon as it looks to concentrate on its own brand.

ITALY: Banks Want EUR320m Fila Debt Repaid | 19 Jul 02

Seven of Italy's largest banks are calling for Holding di Partecipazioni Industriali SpA to repay the debt of 320 million euros incurred by its subsidiary Fila Holding SpA.

SPAIN: Cortefiel Q1 Profits Slump 72 Per Cent | 16 Jul 02

Spanish clothes retailer Cortefiel yesterday reported a 72 per cent fall in first-quarter net profit, blaming on weak spring sales and provisions for the sale or closure of its e-commerce venture Viaplus Networks. Net profit was 2.5 million euros in the first quarter ended 31 May.  

USA: VF Corp Mulling Fila Bid? | 19 Jun 02

VF Corp, the largest domestic producer of jeanswear and the largest US apparel supplier, has declined to comment on reports it is considering a bid for troubled Italian sportswear manufacturer, Fila Holding SpA. A spokeswoman for the North Carolina-based firm told the Greensboro News & Record it was company policy not to comment on such reports. The Milano Finanza newspaper claimed that VF Corp was mulling over a bid for Fila, which is owned by HdP.

SOUTH AFRICA: Nike, Reebok, Caught In R1bn RAG Collapse | 17 Jun 02

Creditors including Nike, Reebok, Converse, SA Clothing Industries, Eddels Shoes, and Springfield Footwear have filed claims in excess of R1 billion against Retail Apparel Group, the holding company for several clothing, footwear and accessories chains that was placed in provisional liquidation on 28 May.

SPAIN: Cortefiel To Open 135 New Stores In 2002 | 11 Feb 02

Leading Spanish fashion retailer Cortefiel on Monday announced details of an ambitious expansion plan that will see it invest around 60 million euros ($52.3m) in 135 new stores during 2002. Most of the new outlets will be located outside of Spain as the firm looks to build on its existing current international base of 237 stores said Alain Moureaux, its director of international expansion.

SPAIN: Airport Sales Take Off For Cortefiel | 17 Jan 02

Spanish fashion retailer Cortefiel and airport shopping chain Aldeasa have entered into a joint agreement to set up clothing stores in Madrid's main airport. A statement issued by the companies on Wednesday said: "This is a long-term agreement, which will come into force next February with two outlets in terminals one and three of Barajas international airport."

ITALY: Benetton CEO Says US Attacks Had "Limited Impact" | 19 Nov 01

Luigi de Puppi, chief executive of Italian clothing manufacturer Benetton Group, has told an Italian newspaper that a fall in demand after the September 11 terrorist attacks in the US will have a "limited impact" on the company's business. "We haven't substantially revised down our estimates," de Puppi told Milano Finanza. "For end-2001, the estimates indicate a revenue of EUR2.1 billion and a slight drop in profit."

UK: High Streets Under Siege From Foreign-Owned Retailers | 28 Jun 01

As Marks & Spencer prepares to close shop in continental Europe and sell up in the United States to defend its domestic territory against the growing - and often foreign-owned - competition, these overseas retailers have been entering the UK in unprecedented numbers. Moreover, they will continue to expand and increase market share in many key sectors says retail analyst Retail Knowledge Bank.

SPAIN: Cortefiel Expands Abroad | 26 Apr 01

The Spanish clothing retailer Cortefiel SA has announced that it is to invest around 85m euros ($76.18m) in an international expansion programme. Cortefiel, which yesterday announced a 12.6 per cent rise in sales over the year, said that the investment would be spread out until 2006 and will see 164 new stores opening with 109 of those opening abroad.

SPAIN: Tavex Algodonera Shares Rise On Cortefiel Rumours | 25 Apr 01

The shares of Spanish denim company Tavex Algodonera have risen 28 per cent since Easter on rumours that Cortefiel would take a stake after this group's failed bid for Adolfo Dominguez. However, Tavex said there has been no contact with any financial or industrial investor.

SPAIN: Adolfo Dominguez Considers Partner | 23 Apr 01

The board of directors at Spanish clothing designer Adolfo Dominguez SA will meet later today to consider the possibility of looking for a minority partner. According to a report in the Spanish newspaper La Gaceta, the designer is to consider a new partner to try and ward off any further attempts of a takeover.

SPAIN: Cortefiel Considers M&S Move | 5 Apr 01

Spanish newspaper Intelite has reported that one of Spain's major clothing retailers, Cortefiel, has expressed an interest in taking on the gap left by Marks & Spencer's withdrawal from the European market. The Spanish retailer, which currently runs stores across Europe and in Mexico, has said that before any decisions can be made it will have to conduct various preliminary studies to assess the viability of the move.

ITALY: Fila Sign Matteo Thun Studio For Retail Project | 19 Dec 00

Milano's Mateo Thun Studio has been chosen by Fila Holding S.p.A (NYSE:FLH) to work on the design for its new flagship stores. The new stores are being designed as part of Fila's retail project, which will see the stores being closely tied with the Internet for sales of its sporting apparel and footwear.

USA: Textile Maker Pays $150,000 Fine | 16 Nov 00

Crawford Textile Corp has agreed to pay a $150,000 fine for selling highly flammable fabric to garment manufacturers. The Consumer Product Safety Commission said that the company had failed to report the sale of the flammable material as required by the Consumer Product Safety Act. Crawford made 22,570 yards of Sherpa fabric in September 1998 and sold it on to Milano Express. After it was shipped, Crawford received test reports showing six of 23 lots failed federal flammability standards and were unsuitable for clothing because of rapid and intense burning. The sweatshirts were sold by Costco stores nationwide between October 1998 and April 1999 for about $17.

BRAZIL: Apparel E-tailer To Launch March 2001 | 26 Oct 00

Modasite, an apparel website that plans to sell children's clothes, menswear, and womenswear, will be launched for March 2001, the site's founders announced today.Modasite will also offer lingerie, beach fashion, and accessories. According to its founders, the website is valued in US$2.11m.The e-tail site is the brainchild of entrepreneurs Carlo Magno Correa Gibrail, former Corsi's marketing director, Sergio Kulikovsky, founder of online broker Nettrade, and Sergio Milano Benclowicz, marketing director of Noble Group.It will initially provide content and sales for about 12 products, but it is expected to reach 30 brands in the second stage of the project. Some of the brands included in the site are Cori and Luigi Bertolli (of the Pasmanik Group), Vila Romana, VR (of Sellinvest) and Yatchman. Other major brands are still being negotiated.

USA: Janlynn Corporation and ARTY'S Worldwide Form Strategic Partnership | 30 May 00

Janlynn Corporation and ARTY'S / Sinoart announced today the formation of a global partnership. ARTY'S gains exclusive distribution rights for Janlynn products in most of Europe and Janlynn gains exclusive distribution rights for ARTY'S products in North America.The positive impact of the ARTY'S - Janlynn partnership will be felt by retailers and consumers on both sides of the Atlantic.

USA: Janlynn Corporation and ARTY'S Worldwide Form Strategic Partnership | 29 May 00

Janlynn Corporation and ARTY'S / Sinoart announced the formation of a global partnership. ARTY'S gains exclusive distribution rights for Janlynn products in most of Europe and Janlynn gains exclusive distribution rights for ARTY'S products in North America.The positive impact of the ARTY'S - Janlynn partnership will be felt by retailers and consumers on both sides of the Atlantic.





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