Levi Strauss looking to trouser up to $587m in New York IPO

Step aside, yoga pants: Levi Strauss’ IPO plan shows jeans are back in the game.

The iconic American apparel company, which patented the first pair of blue jeans in 1873, filed a plan for an initial public offering Monday that would raise as much as $587.2m (€522.8m).

The company would sell 36.7 million shares, priced at $14 to $16 apiece, according to the regulatory document.

Denim has been fighting for its share of the casual clothing market with leggings and “athleisure”.

It’s been tough, with imports of elastic knit pants surpassing those of denim for the first time in 2017.

But the one-time staple of American closets has recently staged the beginning of a comeback: The jeans category in the US grew 2.2pc to $16.7bn in 2018 after four straight years of declines, according to data.

Debenhams warns over profits as sales continue to come under pressure

Debenhams has warned over profits as sales continue to come under pressure.

The firm said in an unscheduled update that a statement made in January that it was on track to deliver current-year profits in line with market expectations is “no longer valid”.

Boss Sergio Bucher said: “We are making good progress with our stakeholder discussions to put the business on a firm footing for the future. We still expect that this process will lead to around 50 stores closing in the medium term.

“Our priority is to secure the best outcome for the business and all our stakeholders, whilst minimising the number of store closures and job losses. To do this, as we have said before, we will need the support of both landlords and local authorities to address our rents, rates and lease commitments.

“I would like to thank our staff – and all our stakeholders – for their continued support through this period, as we work to deliver a sustainable future for the company.”

Aston Martin Lagonda Slips To Loss In FY18

Aston Martin Lagonda Global Holdings plc (AML.L) on Thursday reported loss before tax of 68.2 million pounds or 31.0 pence per share for the year ended 31 December 2018, compared to profit before tax of 84.5 million pounds or 36.5 pence in the prior year.

The company noted that loss for the year reflects 136 million pounds of associated costs related to its IPO on the London Stock Exchange in October 2018, of which 29 million pounds were cash.

Before one-off IPO costs, adjusted profit before tax for the year was 67.8 million pounds, compared to adjusted profit of 73.1 million pounds last year. Normalized adjusted earnings per share for the year were 27.5 pence, compared to 32.9 pence a year ago.

Adjusted EBITDA for the year was 247.3 million pounds, compared to 206.5 million pounds in the prior year.

Revenue for the year grew 25 percent to 1.10 billion pounds from 876.0 million pounds last year.

Total volumes for the year increased 26 percent to 6,441 units, which was ahead of guidance. Core car volumes were up 30 percent. The company noted that special editions continue to be in high demand.

Looking ahead, Aston Martin said it is maintaining its guidance for financial year 2019, whilst also reconfirming its medium-term objectives.

Dr Andy Palmer, Aston Martin Lagonda President and Group CEO said, “Given our progress on the Second Century plan – including completion of our new manufacturing plant at St Athan and our preparations for the DBX, we are confident that Aston Martin Lagonda will deliver another year of growth.”