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Kenvue reports flat 2024 sales

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February 6, 2025

Kenvue Inc. announced on Thursday net sales increased 0.1% to $15.5 billion for the full year ended December 29, 2024, on the back of softer-than-expected sales growth. 

Kenvue reports flat 2024 sales. – Neutrogena

Fourth quarter, net sales decreased 0.1%. By segment, the self-care segment and the skin health and beauty segment climbed 2.1% year-over-year to $1.59 billion in net sales, and 1% to $1.01 billion, respectively. Meanwhile, the essential health segment recorded a 4.1% drop in fourth-quarter net sales to $1.08 billion.

Kenvue-owned brands include Neutrogena, Aveeno, Band-Aid Brand, Johnson’s, Listerine, and Tylenol.

“We delivered on our 2024 profit commitments despite headwinds that resulted in softer than expected sales growth and we enter 2025 as a more competitive company with stronger foundations,” said Thibaut Mongon, chief executive officer. 

“We remain focused on leveraging our increased brand investments to accelerate growth and deliver long-term value creation centered around profitable growth, durable cash flow generation, and disciplined capital allocation.”

Looking ahead, the company expects a 2025 net sales change of -1% to +1% year-over-year, with organic sales growth of 2% to 4%. Kenvue projects flat to 2% year-over-year growth in adjusted diluted earnings per share for 2025,

“As Kenvue enters our next chapter, we expect to accelerate performance throughout the year, while navigating the dynamic external environment contemplated within our outlook,” added Paul Ruh, chief financial officer. 

“We expect to drive further productivity and operational efficiency gains, which will fund our planned increase in brand investments, positioning us to grow adjusted operating margin for the year.”

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Fashion

M&S clothing guru Richard Price to leave this spring, John Lyttle to take over

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February 6, 2025

M&S delivered a shock leadership team update on Thursday — well shocking to outsiders as the company has apparently been working on the moves for a while — with news that John Lyttle, formerly CEO of Boohoo Group, will be joining on 3 March as MD of Clothing, Home & Beauty in a planned succession. He takes over from Richard Price who’s been in the role since 2020 and is “leaving M&S to pursue a portfolio career, following a handover period”, at the end of April.

M&S said Lyttle has “extensive retail and transformation experience, spending five years at Boohoo and nine years at Primark as COO”.

Maddy Evans, currently director of Womenswear, will also take on a broader role including Lingerie, becoming director of M&S Woman. Charlotte Davies, its director of Lingerie who recently joined from Hunkemöller where she was chief product officer, will report to Evans.

And David Brittain will join as director of Home & Beauty at the end of April from Amazon. He’s currently business development director, Amazon Fashion, Europe. 

Additionally, Heidi Woodhouse, who’s director of Home, Furniture & Beauty will be leaving M&S after a handover period with Brittain.

CEO Stuart Machin said that “thanks to Richard’s leadership, the Clothing, Home & Beauty business is now on a much stronger footing with improved product. Style perceptions have increased consistently and our lead on quality and value has extended, driving growth in sales and market share. Richard leaves the business as a long-standing friend of M&S and we wish him the very best.

“That said, there remains much to do and so much opportunity in this next phase of our plan to reshape M&S for future growth. Changes under way to embed strategic sourcing partnerships, a modern planning platform and an efficient logistics network are nascent and there is lots to do to develop a truly omnichannel Clothing, Home & Beauty business.”

He also said that Lyttle “brings extensive experience in driving strong volume-based growth and supply chain transformation across store-based and pureplay retailers. His down-to-earth leadership style fits with our sleeves rolled up, ‘tell it as it is’ culture.

“John will be supported by a strong leadership team. Maddy Evans is transforming our Womenswear proposition and I am delighted to broaden her remit to include our trusted heartland of Lingerie. Bringing all of our Womenswear categories together will further improve our customer proposition and style credentials, and this change builds on the progress Charlotte Davies has already started to make.

“David Brittain is a great addition to the leadership team with a strong track record across Fashion, Home & Beauty in stores and online.”

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European Commission asks China’s Shein for information on illegal content and goods

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February 6, 2025

The European Commission has asked online fast-fashion retailer Shein to provide internal documents and more detailed information on risks linked to the presence of illegal goods and content on its marketplace, the EU executive said on Thursday.

Reuters

Shein said it welcomes “efforts that enhance trust and safety for European consumers when shopping online”.

The Commission said it had given Shein a deadline of February 27 to provide detailed information on measures it has adopted to mitigate risks relating to consumer protection, public health and users’ wellbeing.

Under the powers granted by the Digital Services Act (DSA), the Commission also asked the Chinese online retailer about the transparency of its recommender systems, access to data for qualified researchers, and it requested details on the protection of users’ personal data.

It added the request related to an ongoing DSA investigation against Shein, which was founded in China and is headquartered in Singapore. The Commission has also been investigating Shein rival Temu, part of Chinese e-commerce giant PDD Holdings, under the DSA.

On Wednesday, the Commission said Temu and Shein, which is working towards a London IPO this year, would be held liable for the sale of unsafe products on their platforms, as part of a crackdown on cheap e-commerce imports into the European Union (EU).

It said its concerns were triggered by some 4.6 billion parcels worth less than 150 euros ($155.39) bought online and imported into the EU duty-free last year, equal to 12 million parcels per day, 91% of which came from China. The number of shipments was double that in 2023.

The EU executive, which has proposed customs reforms including ending the duty exemption for low-value shipments, said on Wednesday it aimed to bring forward some of the changes to 2026 rather than 2027.

As part of tariffs on China, U.S. President Donald Trump‘s administration this week gave businesses just over 48 hours’ notice of the end of its equivalent “de minimis” provision, used by retailers including Temu and Shein to import packages worth less than $800 from China.
 

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Fossil Group names new commercial and digital leaders

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February 6, 2025

Fossil Group announced on Thursday the appointment of Joe Martin as chief commercial officer and Antonio Carriero as chief digital information officer and general manager for the EMEA region. 

Fossil Group names Joe Martin as chief commercial officer and Antonio Carriero as chief digital information officer and general manager of EMEA – Fossil

In his role, effective February 17, Martin will oversee all global revenue-generating activities, focusing on building a high-performing, scalable commercial organization. He joins Fossil from Adidas where he served as senior vice president of wholesale, team services and omni operations and marketplace, North America. 

Meanwhile, starting February 12, Carriero will be responsible for overseeing the company’s global technology strategy, operations, cybersecurity, and the development of future capabilities, while leading the company’s commercial business in the EMEA region. He brings extensive experience in digital transformation and e-commerce growth from his previous roles at Salomon, Breitling SA, and Richemont Group.

“The expertise and proven record of sustainable, long-term results that both Joe and Antonio bring to the company make them ideally suited to advance our turnaround strategy as we focus on building a stronger, more innovative watch business that creates long-term value for all our stakeholders,” said chief executive officer Franco Fogliato.

These appointments are a part of Fossil’s commitment to drive a successful business turnaround, returning the company to profitable growth, and creating long-term shareholder value, the company said.

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