All Financial results articles – Page 16
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News briefs
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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News briefs
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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News briefs
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 ...
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News briefs
Bata India’s sales inch down on sluggish demand
Bata India said that in the first quarter end June 30 revenues fell by 1.4 percent year-on-year to 9,446 million rupee (€103.1m), despite expanding its retail network, due to weak consumer demand. “Bata India navigated well through the slugging consumption environment further accentuated due to the elections and extreme heat ...
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News briefs
Manolo Blahnik's 2023 sales down 10%
Manolo Blahnik reported that it posted a 10 percent drop in sales to €106.5 million in 2023 due to the “well-documented global luxury market slowdown.” Despite the decline, 2023 was the “second-best year ever” for the luxury footwear and accessories brand, according to the CEO, Kristina Blahnik. The pretax profit ...
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ArticleWolverine posts better-than-expected Q2 results
Wolverine Worldwide, Inc (WWW) posted better-than-expected sales and earnings in the second quarter of 2024 as the US company benefits from the results of its turnaround plan launched a year ago. Total revenues fell by 27.8 percent, or by 27.7 percent at constant exchange rates, to $425.2 million and ongoing ...
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ArticleGrendene’s foreign sales pick up in Q2
Grendene’s gross revenues rose by 3.1 percent year-over-year to 604.4 million reais (€100.5m) in the second quarter of 2024, underpinned by its key Melissa brand and a surge in exports. The group’s domestic sales were up by 1.5 percent to R$506.7million (€84.3m), as higher prices offset a decline in volumes, ...
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News briefs
Allbirds reduces Q2 operating loss
Allbirds reported another quarterly Ebitda loss and lower revenues for the second quarter but said the results were within its guidance range as it made further operational and financial progress. Additionally, the San Francisco lifestyle footwear company moved forward with its international strategy focused on distributors and licensees. The group ...
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ArticleVF optimistic that EMEA will spearhead Vans’ turnaround
Having shed its Supreme business for $1.5 billion and moving forward with a transformation plan under CEO Bracken Darrell and a cast of new brand leaders, VF Corp. is expressing optimism that its flagging Vans segment is finally on the road to full recovery. And the EMEA appears to be ...
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ArticleJimmy Choo’s Q1 sales drop on soft demand
In the fiscal first quarter ending June 29, Jimmy Choo, the luxury footwear brand owned by Capri Holdings, posted revenues of $173 million, down by 5.5 percent on a reported basis and by 3.8 percent on a constant currency basis compared to the prior year. This decline was driven primarily ...
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ArticleAlpargatas turns Q2 profit but sales in Europe sag
After more than a year of work strengthening many aspects of its business model, Alpargatas is seeing signs that its recovery on the right track. In second quarter of 2024, the Brazilian footwear company that owns the Havaianas brand generated a net profit of $23 million Brazilian reais (€3.75m) against ...
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ArticleBoot Barn raises its full-year guidance on better-than-expected first-quarter results
Thanks to better-than-expected first-quarter results, Boot Barn lifted its sales and earnings guidance for the full-year ending March 29, 2025. In the three months ended June 29, the US company increased net sales by 10.3 percent to $423.4 million thanks to higher comparable sales and the opening of 11 stores, ...
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ArticleWeyco ‘cautiously optimistic’ about the autumn selling season
Weyco’s sales in the second quarter of 2024 dropped by 5 percent year-on-year to $63.9 million, driven lower by the North American wholesale business and the Florsheim Australia subsidiary. However, the group indicated that “retailer inventory levels are starting to normalize” in the US after an inventory pile-up last year ...
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ArticleZalando posts revenue growth and improved profitability in Q2
Zalando showed accelerating growth and improved profitability in the second quarter. The German online fashion retailer said that its success is due in part to an expansion of its lifestyle offerings, with strong growth in Sports, Designer and Beauty, and in part to a boost in its assortment’s relevance, with ...
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News briefs
Relaxo's Q2 profits decline on weak sales, higher expenses
Relaxo Footwears, an Indian group that sells shoes under various brands including Relaxo, Flite, Bahamas and Sparx, posted revenues from operations of 748.2 crore rupee (€81.9m) in the second quarter ended June 30, up by 1.3 percent year-on-year. Total income grew by 1.0 percent to INR 753.6 crore (€82.4m). Expenses ...
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News briefs
Pollini’s H1 sales decline nearly 14%
Pollini, the luxury footwear brand wholly-owned by the Italian fashion house Aeffe, posted sales of €14.8 million in the first half of 2024, down by 13.6 percent from a year earlier. The brand represented 10.7 percent of the group’s revenues, up from 10.5 percent a year earlier as it outperformed ...
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ArticleGeox’s H1 sales dragged down by the wholesale business
In the first half of 2024, Geox’s sales dropped by 9.4 percent, or by 8.0 percent at constant exchange rates, to €320.4 million due to the poor performance of its wholesale business. “The first half of 2024, consistent with what we have seen in the first months of the year, ...
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ArticleNext lifts guidance on overseas sales surge and FatFace acquisition
Next has lifted its profit target for the eight time in a row as second-quarter sales defied wet British summer weather and the cost-of-living crisis, with overseas sales providing a boost along with the recently-acquired FatFace and Reiss, in which the UK fashion retailer now holds a majority 51 percent ...
