298
Fashion Jobs
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
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
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
L'OREAL GROUP
Retail And Education Manager
Permanent · HONG KONG
TORY BURCH
Senior Manager, Retail Training, Asia
Permanent · HONG KONG
Published
Jul 13, 2018
Download
Download the article
Print
Text size

Tiger of Sweden owner IC Group boosts earnings forecast

Published
Jul 13, 2018

IC Group may have been under pressure in recent periods but at least it had some better news on Friday as the owner of the Tiger of Sweden and By Malene Birger brands revised its earnings guidance upwards.




The company said that “based on the preliminary figures for the financial year 2017/18, the group expects its earnings for the year under review to be realised at an EBIT margin of approximately 7%.” The most recent outlook had said “approximately 6%” and the original outlook communicated earlier had been even lower at “approximately 5%”.

So what's responsible for this good news? “This upward revision is primarily attributable to the lower-than-expected cost level in Tiger of Sweden as well as further cost savings in IC Group’s corporate functions during Q4 2017/18,” the company explained.

Unfortunately, “all other previously announced expectations for the financial year 2017/18 remain unchanged. The group still expects to realise a minor revenue reduction compared to the [previous] financial year,” it told us.

Back in May, the company had reported tough times in Q3, with it key brands finding sales growth elusive. Both Tiger of Sweden and By Malene Birger reported significant sales falls. 

But while the cost savings news is encouraging, what's really needed is for sales growth to be kickstarted as companies cannot continually rely on cutting costs to boost their bottom line. However, we won't know until August 28 just how its brands performed in Q4 as that's when the company publishes its annual report.

Copyright © 2024 FashionNetwork.com All rights reserved.