×
7 328
Fashion Jobs
HARRODS
Cleaning Operative (Part-Time)
Permanent · LONDON
PRIMARK
Product Owner - Payroll Management
Permanent · READING
PRIMARK
Third Party Security Assurance Manager
Permanent · READING
FRASERS GROUP
Warehouse Supervisor - Night Shift
Permanent · SHIREBROOK
FRASERS GROUP
Warehouse Section Manager - Night Shift
Permanent · SHIREBROOK
HARRODS
Buyer
Permanent · LONDON
HEAD OFFICE
SEO Copywriter, Financial Services
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · HIGH WYCOMBE
JOHN LEWIS
Loss Prevention Partner
Permanent · KINGSTON UPON THAMES
JOHN LEWIS
Loss Prevention Partner
Permanent · READING
STRADIVARIUS
General Manager - Stradivarius Liffey
Permanent · DUBLIN
MULBERRY
Warehouse Operative
Permanent · SHEPTON MALLET
NEXT
Stock Coordinator - Hatfield Oldings
Permanent · HATFIELD
NEXT
Delivery Coordinator - Horsham
Permanent · HORSHAM
MASSIMO DUTTI
Massimo Dutti Central London - General Manager
Permanent · LONDON
ESTEE LAUDER
Clinique - Consultant - Boots, Uxbridge - 5.5 Hours/Week - Part Time, Permanent
Permanent · Uxbridge
ESTEE LAUDER
Clinique - Consultant - Boots Bon Accord, Aberdeen - 15 Hours - Part Time, Permanent
Permanent · Aberdeen
SELFRIDGES
Stock Operative- Full Time - Menswear
Permanent · BIRMINGHAM
URBN
Urban Outfitters Buying Coordinator - London, UK
Permanent · LONDON
SPORTS DIRECT
Loss Prevention Supervisor - New Store
Permanent · DERBY
GAME
Assistant Trade Marketing Manager
Permanent · BASINGSTOKE
MULBERRY
Digital Stock Operative
Permanent ·
By
Reuters
Published
Feb 18, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Retailer Perfumania reportedly explores strategic alternatives

By
Reuters
Published
Feb 18, 2017

Perfumania Holdings Inc, a U.S. retailer with exclusive distribution rights to several Trump-branded colognes, has hired advisers to explore strategic alternatives, including a debt restructuring, people familiar with the matter said.


Parfumania's wholesale portfolio also includes fragrances by Rihanna. - Rihannanow.com



The move comes as Perfumania, a major U.S. fragrance retailer, looks to address its debt pile amid declining traffic at malls.

The Bellport, New York-based company is working with legal and financial advisers to explore options, including addressing its capital structure, according to the sources.

The sources asked not to be identified because the negotiations are confidential. Perfumania did not respond to a request for comment.

Perfumania recorded debt of approximately $164 million at Oct. 29 and $2.1 million in cash and cash equivalents.

The company also plans to negotiate with landlords to exit some of its 313 standalone Perfumania shops in the United States, the sources said.

Perfumania's wholesale businesses, Parlux, holds the exclusive distribution rights to U.S. President Donald Trump's fragrances Empire and Success, as well as daughter Ivanka Trump's fragrance. The company's portfolio also includes fragrances from celebrities such as Rihanna, Jessica Simpson and Jay Z.

The Parlux fragrances are sold through regional and national department store chains, including Belk, Bon-Ton and Macy's. Other Perfumania fragrances are sold at offprice retailers including Kmart, Burlington Coat Factory and Wal-Mart.

Perfumania's financial struggles reflect the woes facing the rest of the retail industry. This month, Eastern Outfitters LLC, the holding company for sporting goods chain Eastern Mountain Sports and Bob's Stores filed for bankruptcy, as did teen retailer Wet Seal. Healthier retailers such as Macy's have announced plans to close hundreds of stores.

Perfumania traced its declining sales to heavy discounting by retailers and falling traffic at its retail locations in lower-quality malls and tourist-dependent areas such as Puerto Rico and Florida.

Perfumania's sales shrunk by nearly 12 percent to $125 million in the quarter ended Oct. 29, driven by declines in its retail shop division.

The company has been trying to turn around its business by promoting e-commerce sales and boosting its technology.


 

© Thomson Reuters 2022 All rights reserved.