299
Fashion Jobs
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Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
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Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
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ESTÉE LAUDER - BRAND
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CLINIQUE
Senior Marketing Manager, Clinique
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TOMMY HILFIGER
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AESOP
Retail Consultant
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Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
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ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
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PUMA
Manager Innovation Technical Apparel
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DR. MARTENS
Head of Financial Accounting, Apac
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TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
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A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
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KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
Aug 17, 2018
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Finland's Stockmann posts rising profits, department stores struggle on

By
Reuters
Published
Aug 17, 2018

Finnish retailer Stockmann reported better-than-expected second-quarter results on Thursday, thanks to increased sales at its fashion chain Lindex, but warned that its department stores would remain in the red in the full year.

Stockmann


Known for its prestigious department stores, Stockmann has struggled in recent years due to a consumer shift to online shopping, prompting cost-cuts and divestments.

Its second-quarter adjusted operating profit rose to 24 million euros ($27 million) from 15 million euros a year ago, compared to analysts’ average expectation of 21 million euros in a Reuters poll.

Quarterly department store sales fell 4 percent from a year ago while revenue at Lindex was up 1 percent. Stockmann said the department store unit was not expected to reach a positive operating result for the full year.

Stockmann shares were up 3 percent by 0742 GMT.

“Lindex’ result has recovered... the trend (in Retail) is worrisome, considering strong domestic consumer demand,” research firm Inderes, which has a “reduce” rating on the stock, said in a note to investors.

“We think the company must accelerate cost adjustment.”

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