Arvind Fashions

The company, which retails clothing from international brands such as Arrow, Calvin Klein and Tommy Hilfiger, said its profit after tax rose to 300 million rupees for quarter ended Sept. 30

Arvind Fashions Ltd on Thursday reported a consolidated net profit of Rs 13.92 crore in the first quarter ended June 2024, aided by a strong revenue growth. The company had posted a consolidated net loss of Rs 4.53 crore in the same quarter last fiscal, Arvind Fashions Ltd (AFL) said in a regulatory filing. Consolidated revenue from operations in the first quarter was at Rs 954.84 crore as against Rs 866.68 crore. Total expenses in the quarter were higher at Rs 938.7 crore as compared to Rs 862.22 crore, the company said. The strong Q1 results reflect an all-round financial performance under tough market conditions, said Shailesh Chaturvedi, MD & CEO of Arvind Fashions. "As the demand environment improves, with our investment behind all the growth levers including expansion of retail sq. ft., we remain excited about AFL's journey ahead," he added. In the previous year, Arvind Beauty Brands Retail Ltd (ABBRL) was acquired by Reliance Beauty & Personal Care Ltd and ceased to be

Demand for premium products aimed at high-income consumers remains a key driver of sales growth

The company's shares tumbled nearly 9% after the results, in their biggest intra-day slide in five weeks

The buyout gives Reliance Retail Ventures exclusive rights to build and enhance Sephora's presence in India across channels

Reliance launched its own beauty retail platform, Tira, in April to take on the likes of Nykaa and the Tata Group

The retailer is already in advanced stage talks to take over Sephora India rights from Arvind Fashions, which also gives it access into the premium beauty and personal care space offline

According to the technical analyst from Anand Rathi, Arvind Fashions can rally to Rs 440, while CAMS can surge to Rs 3,650 within a year's time.

Reliance Retail will be the official retailer for Gap in India, mixing exclusive stores and digital commerce platforms.

Having raised funds to deleverage, it had exited certain brands to focus on only six marquee ones: US Polo Association, Arrow, Flying Machine, Calvin Klein, Tommy Hilfiger and beauty brand Sephora

Six high-conviction brands on which it now wants to build profitability include US Polo Association, Tommy Hilfiger, Calvin Klein, Arrow, Flyi­ng Machine and Sephora

With this fundraise, the company completes the capital requirement needed for growth and navigating any uncertainties

The investors who participated in the fundraise are Akash Bhanshali, existing shareholders including ICICI Prudential Mutual Fund, various foreign institutional investors

The company would receive cash consideration estimated at about Rs 150 crore upon the closure of transaction and thus, will fully recover the capital employed in the business

This was helped by higher revenue from operations.

Arvind Fashions Ltd (AFL) on Wednesday reported a consolidated net loss of Rs 65.62 crore in the third quarter ended December 31, 2020. The company had posted a net loss of Rs 48.26 crore in the year-ago period, AFL said in a BSE filing. Its net sales during the period under review was at Rs 911.13 crore. It was Rs 1,062.28 crore in the year-ago period. Commenting on the results AFL MD and CEO J Suresh said with better than expected sales recovery through improved footfalls during the festival period which has resulted in significantly improved profitability and a cash breakeven for continuing business in Q3 FY21. "Our focus on digital and omni-channel initiatives and a deep cost focus continue to deliver robust outcomes. At the back of strong Q3, we expect H2 FY21 to be significantly better in terms of sales & profitability growth, he added. Arvind Fashions said its board has also approved issue of equity shares for an amount up to Rs 200 crore on rights basis. "The board ...

Trading longs should be held on with the stop loss of 12,700 levels. We expect midcaps to outperform in the coming days.

Appoints Shailesh Chaturvedi as MD and CEO with effect from February 2021

All that happened in the markets today

Yesterday, the company's right entitlement (RE) witnessed huge sell-offs