All Financial results articles
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News briefs
Hermès’ sales beat market expectations
Hermès’ revenues amounted to €3,805 million in the first quarter of 2024, up by 12.6 percent at current exchange rates and by 17.0 percent at constant exchange rates from the previous year with growth in all geographical areas. The top line beat market expectations by about €120 million. Sales of ...
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Zegna weighed down by Thom Browne
Ermenegildo Zegna’s revenues stood at €463.2 million in the first quarter, up by 8.1 percent year-on-year. The top line was up by 10.7 percent at constant currency but fell by 5.3 percent on an organic basis. Revenues for the Zegna segment amounted to €324.9 million, up by a reported 1.7 ...
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News briefs
Diadora’s sales totaled €304m in 2023
Diadora’s sales totaled €304 million in 2023, a year during which the Italian brand terminated some commercial partnerships to focus on its core categories: running, tennis and soccer. Sales for the core categories were up by 16 percent compared with 2022, according to the daily Il Sole 24 Ore. The ...
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ArticlePrada Group’s sales driven higher by Miu Miu
In the first quarter of 2024, Prada Group’s revenues rose by 11 percent to €1,187 million, driven by the Miu Miu brand and beating market expectations by nearly €50 million. At constant exchange rates, the top line was up by 16 percent. Retail sales totaled €1,071 million, up by 12 ...
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ArticlePrimark’s sales, earnings rise
A strong rise in half-year profits at Primark helped Associated British Foods (ABF), the parent company of the fast-fashion retailer, lift its annual earnings guidance. Primark’s revenues rose by 7.5 percent to £4.5 billion (€5.23bn), while adjusted operating profit – the company’s preferred measure – was 46 percent higher at ...
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ArticleGolden Goose’s revenues rise 11% in Q1
Golden Goose said that in the first quarter of 2024 revenues rose by 11 percent year-over-year on a reported basis and by 12 percent at constant exchange rates, while “maintaining strong margins.” Revenues of the direct-to-consumer channel grew by a reported 18 percent and 20 percent at constant exchange rates, ...
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News briefs
Stella sales up nearly 19% in Q1
Stella International reported an 18.9 percent increase in consolidated first-quarter revenues to $338.4 million from $284.6 million a year. Revenues from manufacturing grew by 17.6 percent to $326.3 million. Shipment volume increased by 21.9 percent year-over-year, led by the sports category, to 11.7 million pairs. However, the average selling price ...
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ArticleThe Platform Group posts strong 2023 sales
German e-commerce company The Platform Group (TPG), the owner of online footwear retailer Schuhe24 and other fashion platforms, reported strong full-year results for 2023, with sales and profits on the rise. The company said in a statement that in the 2023 financial year, gross merchandise value (GMV) increased by 19 ...
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ArticleAsos’ losses widen but excess stock cuts ahead of target
Asos’ half-year losses widened as the British online fast-fashion retailer continued to deal with competition from its Chinese rival Shein, but it was ahead of target on shifting the mountain of excess stock built up during the Covid-19 pandemic. The company reported an adjusted loss before tax of £120 million ...
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News briefs
CCC Group posts sees 7% sales boost at start of Q1
CCC Group, the Polish footwear and fashion group, said sales in the period running from Feb. 1 to March 31, 2024, increased by 7 percent compared to the year earlier to reach 1.3 billion zloty (€300.5 million). In the same period, which corresponds to the first two months of the ...
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News briefs
LVMH’s sales decline in Q1
LVMH’s fashion and leather goods division posted revenues of €10.490 billion in the first quarter of 2023, down by a reported 2 percent year-over-year but up by 2 percent organically. Sales for the whole French luxury-goods conglomerate were down by a reported 2 percent to €20.694 billion, but up ...
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ArticleDr. Martens shares get a kicking as CEO quits after fifth profits warning
Dr. Martens’ shares slumped by more than a third to record lows and trading in the stock was briefly suspended in London as the UK bootmaker said that its chief executive, Kenny Wilson, would step down after issuing a fifth profit warning in three years amid continuing woes in its ...
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News briefs
Footway Q1 sales halved
After concluding a more than six-month-long restructuring process on Feb. 13, Footway, with twelve e-commerce platforms in its portfolio, released its sales figures for the first quarter of 2024. The year started off on a challenging note, with sales more than halved. Revenue amounted to SEK102 million (€8.8 million) compared ...
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News briefs
Christian Louboutin targets annual sales of €1bn
Christian Louboutin aims to achieve annual sales of more than €1 billion, according to John Elkann, the CEO of Exor, a Dutch incorporated holding company that invested €541 million in 2021 to buy a 24 percent stake in the French luxury shoe maker. Elkann did not indicate when the revenue ...
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ArticleZegna expects negative organic growth in Q1
Ermenegildo Zegna more than doubled its bottom line in 2023 but warned that organic growth will be negative in the first quarter of 2024. Last, the Italian fashion house posted a net profit of €135.7 million in 2023, up by 107.8 percent compared to the year earlier. Adjusted Ebit grew ...
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ArticleLevi’s to exit the footwear business
Levi Strauss & Co, which is known for its Levi’s brand, has decided to wind down its footwear business as it streamlines its organization to bolster efficiency and profitability thanks to the Project Fuel initiative launched in January. “And after a strategic review of our categories, we have taken the ...
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News briefs
Decathlon’s sales rise slightly in 2023
Decathlon increased sales by 1.15 percent in 2023 to €15.6 billion, adjusted for unfavourable exchange rates and the impact of the closure of its commercial activities in Russia. At constant exchange rates, the top line rose by 4.4 percent, according to the French sporting goods retailer. The net profit rose ...
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News briefs
Barefoot shoes manufacturer Leguano grows in 2023
The German barefoot footwear specialist Leguano reported positive results for 2023, with sales increasing by 22 percent from the previous year to €53.85 million. The company said in a statement that “this strong growth highlights the successful implementation of our corporate strategy and the high demand for Leguano’s high-quality ...
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ArticleH&M continues to target a 10% operating margin
In the first quarter ended Feb. 29, H&M Hennes & Mauritz significantly improved its bottom line as the Swedish fashion retailer strives to bolster its operating margins. The company saw sales gradually improve during the month of February thanks to “well-received” spring collections and confirmed its target of a 10 ...
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ArticleAsos’ sales plunge 18% in the first half but guidance maintained
Asos reported a sharp fall in sales for the first half of its fiscal year due to slowing demand and large discounts to clear excess stock, but the British online fashion retailer insisted that its turnaround plan was on track and maintained annual guidance. Sales plunged by 18 percent in ...
