85
Fashion Jobs
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
PUMA
Key Account Manager, Marketplace E-Com
Permanent · HO CHI MINH CITY
ON RUNNING
Head of Footwear Sourcing
Permanent · HO CHI MINH CITY
Published
Feb 28, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Speciality Fashion takeover bid by Harrods owner uncertain

Published
Feb 28, 2017

Specialty Fashion Group on Tuesday said it is uncertain if the takeover offer received by Middle Eastern investor Al Afia will go ahead, despite posting a 37% gain in first-half profits to $12 million (US$ 9.22 million).


SFG



The Australian apparel retailer, which owns fashion brands Katies, Millers and Rivers, said in its earnings statement it was unclear whether Al Alfia, which holds and manages substantial investment assets including London department store Harrods, can fund the acquisition right now, after the death of the sole shareholder's father, Sheikh Khalifa bin Hamad al-Thani, who died in October at the age of 84.

"Due to the unforeseen circumstances relating to the death of the father of the sole shareholder of Al Alfia, the funding has been temporarily restricted in probate," Specailty Fashion said in a statement.

"Al Alfia has advised they are addressing the probate issue, however, it has not been able to confirm when this will be resolved."

Back in early February, Specialty Fashion said it was considering an offer of 70c a share that would result in the company being taken private. At that price, the buyout bid values the retailer at $134 million. 

The news comes as the group reported a strong half-year result. For the six months ending December 31, SFG recorded a 1% fall in revenue to $430 million, while comparable sales fell 2%. However, the group's underlying earnings before interest, tax, depreciation and amortisation rose 12.7% to $30.4 million for the half-year period.

​"While sales revenues were slightly down, margin improved due to better markdown management and holding the overall cost of doing business flat," said CEO Gary Perlstein.

Moving forward, Specialty Fashion said it plans to focus on improving margins at discount retailer Rivers, which returned to profitability in the last financial period. It also plans expand its plus-size brand, City Chic, across Australia.

 

Copyright © 2024 FashionNetwork.com All rights reserved.