All Financial results articles – Page 17
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News briefs
Gianvito Rossi’s sales approach €100m
Gianvito Rossi, an Italian producer of luxury shoes, posted sales of €99 million in 2022, up by 35 percent year-on-year.
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ArticleGrendene sales suffer, outlook uncertain as consumers’ disposable income shrinks
Grendene generated fourth quarter revenues of 938.0 million reais (€169.6m), down by 0.9 percent on the year earlier as high inflation, interest rates and unemployment put a dent into the disposable income of consumers and below-average temperatures and political uncertainty in its home market of Brazil further hurt demand. Domestic ...
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ArticleFerragamo warns that inflation may further erode margins in 2023
Salvatore Ferragamo warned that its 2023 operating margins could be slightly lower than last year due to higher costs, which could put pressure on the stock price of the Italian fashion house which is already trading at lofty multiples. The average target price for financial analysts is around €16.14 compared ...
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News briefsNatural World's sales up 10%
Natural World, which seeks to produce a 100 percent ecological shoe, is enjoying an annual growth rate of 10 percent, according to sales director Jorge Velo, who spoke with Diffusion Sport at last month’s Micam show. The 11-year-old brand generates 70 percent of total sales outside its home country of ...
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News briefs
Vulcabras’ 2022 sales rise by 36%
In 2022, Vulcabras posted a 36 percent increase in revenues to R$2,536.9 million (€413.1m) from R$1,867.2 million a year earlier with sales in the home Brazilian market increasing by 33.5 percent to R$2,309.0 million (€430.6m) and foreign sales up by 65.5 percent to R$227.9 million (€42.5m). Annual e-commerce sales increased ...
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ArticleGarmont's sales rise 60%, Germany remains the main market
Garmont, the Italian outdoor footwear company founded in 1964, reported sales of €40.5 million in 2022, up by 60 percent from the previous year, and an Ebitda margin of more than 16 percent. ”In 2022 we defined a strategy that allowed us to maintain our market positions while taking into ...
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ArticleNordstrom exits Canada
Nordstrom is exiting Canada, a market it entered in 2014 with “a plan to build and sustain a long-term business there,” announced Erik Nordstrom, the chief executive officer of the U.S. retailer. The Canadian business operates six Nordstrom stores and seven Nordstrom Rack units, as well as the Nordstrom.ca website, ...
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ArticleCoats’ Apparel & Footwear sales up organic 9% in 2022
In 2022, Coats’ revenues rose by a reported 9 percent to $1.548 billion. On a constant currency basis, the top line was 16 percent higher and organic growth reached 10 percent, ahead of a targeted medium-term growth of about 6 percent. The Apparel & Footwear (A&F) dvisision saw full-year organic ...
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ArticleGörtz brings in new investor to exit insolvency procedure
The insolvent German footwear chain Görtz has found a new investor. Currently undergoing a restructuring under a self-administration procedure, the ailing Hamburg-based company said that, after an “intensive process and extensive discussions with many interested parties,” the provisional creditors’ committee has picked a long-term oriented private investor. Görtz did ...
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ArticlePrimark lifts guidance as consumers start shopping early for summer
Primark’s parent company, Associated British Foods (ABF), has lifted full-year guidance as consumer spending proved to be more resilient in the first half, with Britons buying early for the summer holidays and inflation easing. The group now expects adjusted operating profit in the 24 weeks to March 4 to ...
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ArticleRocky Brands sees 2023 sales down 7-9% after 18% dip in Q4
Rocky Brands said it expects sales to decline by about 7-9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022 as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
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ArticleSteve Madden sees about 20% drop in wholesale revenues in H1
Steve Madden expects an about 20 percent drop in wholesale sales, which represent nearly 60 percent of its top line, during the first half of 2023 as clients reduce orders to reduce excessive inventories. In a conference call with financial analysts, the company’s chairman and CEO, Edward Rosenfeld, noted that ...
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ArticleFarfetch Q4 sales dip 5%, profits squeezed but company sees ‘solid’ start to 2023
Farfetch reported a decline in revenues and gross merchandise value in the fourth quarter of 2022, a year marked by “unprecedented macro headwinds”, but said it was on better footing in 2023 after completing a strategic revamp and confirmed its guidance for growth in gross merchandise value (GMV) and an ...
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News briefs
Primadonna Collection aims for revenues of €120m in 2023
The Italian footwear and apparel retailer Primadonna Collection aims to post annual sales of €120 million this year after ending 2022 with a top line of about €110 million, the founder and manager Valerio Tatarella told the website Fashionmagazine.it. Tatarella also said that the brand plans to enter the Vietnamese ...
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News briefsAlibaba reports improved results despite challenges
Despite softer demand and supply chain and logistics disruptions, Alibaba reported revenues and profits for Q3 that exceeded Wall Street estimates. Revenues increased by 2 percent to 247.8 billion yuan renminbi (€34.1bn) from RMB 242.6 billion for the period ending Dec. 31. The Chinese e-commerce behemoth said in a statement, ...
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ArticleWolverine Worldwide forecasts meaningful profit progress in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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News briefs
Valleverde's sales reach €25m in 2022
Valleverde, the Italian footwear company owned by Silver1, posted sales of over €25 million in 2022, rising sharply from €14 million in 2021. The top line is also above the pre-Covid-19 level of €17 million reached in 2019. The brand achieves 65 percent of its revenues with women’s shoes. The ...
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News briefsSaye grows strongly in 2022 but misses its sales target
Saye, a fast-growing Barcelona-based company specialized in sustainable footwear, posted sales of €6.7 million in 2022, up by 20 percent year-over-year but below its target of €8 million. The company is estimated to have sold more than 70,000 pairs in 2022 as its retail network increased by 80 percent to ...
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ArticleSergio Rossi more than doubles 2022 sales
Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods Lanvin Group, posted sales of €61.9 million, up by 116 percent from a year earlier, outperforming the rest of the group. Lanvin Group increased overall revenues by 38 percent to €424.5 million. Sales for the Lanvin brand grew by ...
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ArticleCrocs brand gains traction in EU; Heydude prepares for expanded distribution
Coming off a year when global revenues rose by nearly 54 percent to more than $3.5 billion and adjusted operating margin hit 28 percent, Crocs continues to see markets outside the U.S., including Europe, as important growth vehicles for both of its brands. In Q4, Crocs brand sales rose 75.6 ...
