All Financial results articles – Page 13
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ArticleNext lifts guidance again as overseas sales boost H1 profits
Next has lifted its annual profit guidance for the second time in two months to almost £1 billion (€1.2bn) thanks to a sharp jump in overseas sales in the first half of its financial year and strong trading in recent weeks. The British fashion retailer raised forecasts for full-year pre-tax ...
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Zegna’s organic sales slip in H1
In the first half of 2024, Ermenegildo Zegna’s revenues rose by 6 percent to €960.1 million. At constant currency rates, the top line rose by 8 percent while organic revenues dropped by 2.7 percent. The gross profit margin widened to 66.4 percent from 64.2 percent a year earlier. However, ...
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ArticleCaleres unveils cost-cutting measures, lowers guidance after falls short in Q2
Caleres said it was accelerating cost-cutting measures and cutting guidance for its full fiscal year, after missing sales and earnings guidance in the second quarter ended Aug. 3. Second-quarter sales slipped by 1.8 percent compared to the year earlier to $683.3 million, a decline that was attributed to a fall ...
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ArticleDesigner Brands cuts guidance as dress, seasonal footwear suffer
Designer Brands said it was cutting its sales and earnings guidance for the full year after posting worse-than-expected results in its second quarter ended Aug. 3, as the outperformance of its growing athleisure offering was not enough to offset difficulties with dress and seasonal footwear. The company, which owns the ...
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ArticleInditex’s H1 sales growth outpaces costs
In the first half ended July 31, Inditex posted sales of €18.1 billion, up by a reported 7.2 percent and by 10.2 percent at constant exchange rates, with store openings in 34 markets bringing the group to a total of 5,667 stores. The top line outpaced operating expenses, which increased ...
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ArticleGenesco maintains earnings guidance despite better-than-expected Q2 performance
Genesco said it was maintaining its earnings guidance for its 2025 fiscal year, even though its top and bottom line performance exceeded expectations in the second quarter as it continued to make progress with the turnaround of its Journeys division. Management still anticipates adjusted earnings per share (EPS) of $0.60 ...
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ArticleGolden Goose H1 sales up by 12% driven by DTC
At constant exchange rates, Golden Goose posted a 12 percent year-on-year increase in first-half net revenues to €307 million driven by its direct-to-consumer (DTC) business. DTC net revenues grew 18 percent to €226.8 million, accounting for 73 percent of the top line, compared with 70 percent a year earlier, thanks ...
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ArticleShoe Carnival converts some stores to the Shoe Station banner
Shoe Carnival’s management said it is switching some of its Shoe Carnival stores to the Shoe Station banner, which caters to a higher price target and was one of the drivers of its better-than-expected financial results in the second quarter of its 2024 fiscal year. As part of a testing ...
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ArticleSoggy British summer hits second-half sales at Primark
Like‐for‐like sales at Primark were expected to fall by around 0.5 percent year-over-year in the six months to Sept. 14 due to wet weather in the UK and Ireland, driven by a 0.9 percent decline in the final three months compared with 0.2 percent growth in the third quarter. Overall ...
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ArticleAsos sells Topshop and partially refinances its debt
Asos is selling 75 percent of the Topshop group for £135 million (€160m) as part of a deal with the Danish fashion billionaire Anders Holch Povlsen, who owns 28 percent of the troubled British online fashion retailer. Asos, which has faced severe headwinds amid the cost-of-living crisis in the UK ...
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ArticleKurt Geiger enjoys strong sales growth in the US
Kurt Geiger, a British footwear and accessories brand, increased revenues by 9.4 percent to £360.6 million (€428.4m) in the fiscal year ended in February 2024, driven by demand for its “affordable luxury” handbags, now its biggest-selling products. The brand’s leather handbags have an average retail price of £250 (€297). Founded ...
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ArticleBirkenstock posts record sales but disappoints the stock market
In the third quarter ended on June 30, Birkenstock reported record revenues of €564.8 million, up by 19 percent year-over-year at current and constant currency rates, thanks to “strong consumer demand supported by new production capacity and category expansion.” Nevertheless, the company’s results disappointed investors, sending the stock down sharply. ...
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The Platform Group's GMV up 20% in H1
German e-commerce company The Platform Group (TPG), the owner of online footwear retailer Schuhe24 and other e-commerce platforms, reported that gross merchandise volume (GMV) grew by 20 percent year-over-year to €442.5 million in the first half of 2024 while net sales increased by 23 percent to €231.5 million. The number ...
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JD reiterates its Ebit guidance
JD Sports Fashion maintained its annual guidance of Ebit before adjusting items of £955.0 million to £1,035 million (€1.13-1.22bn) despite a persistently volatile global macro environment. The guidance does not include Hibbett Sports whose acquisition was completed in the fiscal second quarter. In the second quarter ended Aug. 3, the ...
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ArticleStella significantly hikes distribution to shareholders over the next 3 years
Stella International recorded a 53 percent increase in adjusted net profit to $92.9 million in the first half of 2024 from $60.3 million a year earlier, improving its adjusted net profit margin to 12.1 percent from 8.4 percent. It also announced plans to significantly increase distribution to shareholders over the ...
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Björn Borg’s shoe revenues surge by 199% in Q2
Björn Borg’s footwear revenues surged by 199 percent during the second quarter of 2024 after the sports fashion brand took over the distribution of shoes following the bankruptcy of the Dutch group Unlimited Footwear Group (UFG) in February. UFG, through the subsidiary Serve&Volley was the licensee responsible for Björn Borg’s ...
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Alibaba's Q1 revenues below expectations
In the fiscal first quarter ended June 30, Alibaba reported revenues of 243.24 billion yuan renminbi (€31.13bn), an increase of 6 percent year-on-year but below market expectations of a top line of RMB 249 billion. Revenues were primarily driven by the company’s Cloud Intelligence Group, whose revenues increased by ...
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ArticleTapestry’s takeover of Capri given 30% chance of succeeding
The stock market gives an about 30 percent chance that Tapestry’s planned takeover of Capri Holdings will succeed after it was challenged by the US government over concerns that the aggregation could harm competition, according to the brokerage Raymond James. On April 22, 2024, the US Federal Trade Commission decided ...
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ArticleYue Yuen experiences order book ‘normalization’
The globe’s largest footwear manufacturer Yue Yuen realized a whopping 121 percent growth in profit attributable to company owners at $184.4 million for the six months ended June 30 versus $83.6 million a year earlier. Ebit rose by 85 percent to $265.2 million against $143.2 million in the year-ago period. ...
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Coats appoints a board director
Coats said that Srinivas Phatak will join the board as a non-executive director, effective Sept. 1. In addition, he will join the audit and risk committee and the nomination committee. Phatak is currently the Deputy Chief Financial Officer and Group Controller at the consumer goods company Unilever PLC. He has ...
