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Spanish Fashion Retailer Tendam Weighs IPO

A model presents a creation by Lebor Gabala brand during the 080 Barcelona Fashion event, in Barcelona, Spain, 25 October 2023. The fashion show runs from 24 to 27 October. EPA/Quique Garcia
A model presents a creation by Lebor Gabala brand during the 080 Barcelona Fashion event, in Barcelona, Spain, 25 October 2023. The fashion show runs from 24 to 27 October. EPA/Quique Garcia
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Spanish Fashion Retailer Tendam Weighs IPO

A model presents a creation by Lebor Gabala brand during the 080 Barcelona Fashion event, in Barcelona, Spain, 25 October 2023. The fashion show runs from 24 to 27 October. EPA/Quique Garcia
A model presents a creation by Lebor Gabala brand during the 080 Barcelona Fashion event, in Barcelona, Spain, 25 October 2023. The fashion show runs from 24 to 27 October. EPA/Quique Garcia

Spanish fashion retailer Tendam is weighing an initial public offering after its adjusted core profit grew by 8.3% in the first half of its financial year, the company's chairman and chief executive said on Thursday in a statement.
"The company and its shareholders are contemplating potential strategic alternatives to drive the company forward to its next growth phase, including the possibility of an initial public offering of its shares on a regulated market," Jaume Miquel said, citing Tendam's recent performance and ratings upgrades.
Private equity firms CVC Capital Partners and PAI Partners each currently control nearly half of Tendam's shares.

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Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
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Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid

Ralph Lauren raised its annual sales forecast after topping quarterly revenue estimates on Thursday, on steady demand for its cable-knit sweaters and Oxford shirts in North America, Europe and China, sending shares of the company 6% up in premarket trading.
Wealthy customers continue to splurge on high-end leather handbags and Polo sweat-shirts, boosting demand across Ralph's direct-to-customer channels and helping it counter a muted wholesale business and soft e-commerce sales in North America.
The results are in contrast to a pullback in the broader luxury sector, primarily in the key China market, which has hurt larger European fashion houses such as Hugo Boss, Kering and luxury bellwether LVMH.
The Club Monaco owner now expects fiscal year 2025 revenue to increase about 3% to 4% compared with a prior forecast of a 2% to 3% rise.
The luxury retailer's net revenue rose 6% to $1.73 billion in the second quarter ended Sept. 28 from a year earlier. Analysts on average had expected revenue of $1.68 billion, according to data compiled by LSEG.