Look Inc <8029.T> : Says it plans to set up a wholly-owned subsidiary based in Tokyo as the successor preparatory company on Feb. 17 .Says co will transfer its business to the new subsidiary and restructure itself into holding company, effective Jan. 1, 2018.
Time Watch Investments Ltd <2033.Hk>: Time Watch-continuing Connected Transactions (1) Termination Of Europe Sales Agency Agreement; And (2) Supplemental Agreement To Administrative Services Agreement <2033.HK> . Twb and Swiss Fashion Time entered into termination deed on to terminate Europe sales agency agreement ."Termination will not have any material adverse impact on operation, business nor financial position of group".
Danish jewellery maker Pandora : Says has made an agreement with Scandinavian brand house (SBH) to acquire its Pandora store network in South Africa, Mauritius, Namibia, Zambia, Zimbabwe and Réunion on July 3 . Says will pay a total amount of 16 million euro ($17.20 million) to SBH .Says will also take over distribution to 19 franchisee concept stores in region, as well as a number of multibranded stores.
Modern Avenue Group Co Ltd <002656.SZ>: Sees net loss for FY 2016 to be 210 million yuan to 290 million yuan . In the previous release, the co expected the net loss for FY 2016 to be 70 million yuan to 100 million yuan . Says the net profit of FY 2015 was 10.2 million yuan .Comments that expenses on closing lossmaking stores and exchange loss are the main reasons for the forecast.
Ralph Lauren Corp : Ralph Lauren reports third-quarter fiscal 2017 results . Q3 adjusted earnings per share $1.86 . Q3 earnings per share $0.98 . Q3 earnings per share view $1.64 -- Thomson Reuters I/B/E/S . Q3 revenue $1.7 billion versus I/B/E/S view $1.71 billion . Ralph Lauren says for fiscal 2017, company is maintaining its guidance . Ralph Lauren says continues to expect operating margin for fiscal 2017 to be approximately 10% . Ralph Lauren expects to incur restructuring charges of about $400 million as a result of fiscal 2017 restructuring activities . Ralph Lauren - for fiscal 2017, company is maintaining its guidance . Ralph Lauren says operating margin for q4 of fiscal 2017 is expected to be 6.0%-6.5% . Ralph Lauren says foreign currency is estimated to pressure operating margin by about 100 basis points for q4 . Ralph Lauren - expects to incur a $150 million inventory charge associated with company's way forward plan . Ralph Lauren - qtrly consolidated comparable store sales decreased 5% on a reported basis and were down 4% on a constant currency basis . Ralph Lauren - restructuring charges, inventory charge expected to be substantially realized by end of fiscal 2017 .Fy2017 earnings per share view $5.46, revenue view $6.64 billion -- Thomson Reuters I/B/E/S.
Ahlers AG : New management board member at Ahlers AG - supervisory board appoints Goetz Borchert to the management board .Goetz Borchert has been appointed to Ahlers management board by company's supervisory board effective Feb. 1, 2017.
Danish jewellery maker Pandora says in a stock exchange announcement on Friday : Has signed a letter of intent with Pan India Charms & Jewellery about distribution of Pandora jewellery in India . Pan India will be granted exclusive distribution rights for Pandora jewellery in India, in which Pandora currently has no distribution . Agreement is subject to certain conditions to be fulfilled . Will establish branded sales distribution focusing on concept stores and shop-in-shops, initially in Delhi, Mumbai and Bangalore .Initial expectation is to open around 50 concept stores in India over a three year period, with around five stores expected to be opened in 2017.
Odella Leather Holdings Ltd <8093.HK> : Odellaleather-profit Warning And Inside Information <8093.HK> . Anticipated that revenue and gross profit of group for six months ended 31 December 2016 would decreased significantly . Turnover and gross profit for six months ended 31 December 2016 is expected to drop by more than 20 pct . Expected result is mainly attributable to deterioration of business of some international brands . Turnover and gross profit for three months ended 31 December 2016 is expected to increase by more than 28 pct .Group is still anticipated to record profit before tax for six months and three months ended 31 December 2016.
Wolford AG : Revises guidance for current financial year . In spite of a slight recovery in its revenue development starting in November 2016 and Christmas sales matching prior-year level, revenue in january declined again, so that revenue decrease up until now equals close to 8% compared to previous year . Wolford will not be able to compensate for corresponding revenue decline and losses incurred before financial year ends on April 30, 2017 . Against this backdrop, management expects negative operating results ranging between minus 8.0 million euros and minus 10.0 million euros (minus $8.60-$10.74 million)for entire current 2016/17 financial year .Group will restructure its financing in order to ensure sufficient financial resources to fulfill company's liquidity needs.
Tokyo Soir Co Ltd <8040.T>: Says it to offer an early-retirement program to employees, who are above 50 years old . Says offering period from Feb. 22 to March 3 . Says the company expects about 30 employees to take the offer . Says the employees who take up the offer will retire on March 31 .Says the company will provide retirement payment and outplacement support to the retiring employees.