All Financial results articles – Page 17
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ArticleFerragamo posts encouraging first-half results
In the first half of 2024, Salvatore Ferragamo posted a 12.8 percent year-over-year decline in revenues to €523 million. At constant exchange rates, the decline narrowed to 10.9 percent. However, second-quarter sales showed a significant improvement on the first three months of the year by declining by only 8.1 percent ...
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ArticleCrocs delivers record Q2, outlook on ‘cautious consumers’ spooks investors
Shares in Crocs took a hit yesterday, closing down by nearly 2.7 percent, or $3.65, to $130.81 after the company issued a third-quarter guidance below analysts’ expectations. The CEO, Andrew Rees, cited the company’s exceptional first-half results and market share gains but also asserted the group’s guarded outlook on H2 ...
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ArticleSteve Madden’s sales continue to be underpinned by Europe
In the second quarter of 2024, Steve Madden posted a 17.6 percent increase in revenues to $523.6 million, lifted by sales in the Europe, Middle East and Africa (EMEA) business region and the acquisition of Almost Famous in October 2023. Excluding Almost Famous, the top line grew by 7.5 percent. ...
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News briefs
BasicNet’s H1 Ebitda falls by 22%
BasicNet, the Italian parent of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands, expressed some concern about a “general slowdown in (consumer) consumption” when reporting first-half results. Ebitda declined by 22 percent in the first half to €17.6 million as Ebit slipped by 40 percent to €8.7 ...
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ArticleRocky Brands doubles its operating profit in Q2
Amid an unpredictable consumer environment, Rocky Brands improved its second-quarter operating income by 104 percent year-over-year and lowered its net loss by 56 percent for the period ended June 30. The group attributed the better results to its diversified portfolio and recently started cost-saving initiatives. The quarterly operating income ...
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ArticlePrada’s first-half results are driven higher by Miu Miu
Prada Group’s first-half sales totaled €2,549 million, up by a reported 14 percent and by 17 percent at constant exchange rates, driven by the Miu Miu brand and the Japanese market. Retail sales grew by 15 percent, and by 18 percent at constant exchange rates, to €2,263 billion. Wholesale revenues ...
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Hermès posts double-digit growth rate in H1
Hermès’ revenues in the first half of 2024 amounted to €7.504 billion, up by a reported 12.0 percent and by 15.1 percent at constant exchange rates compared to the same period in 2023. All the geographical areas recorded double-digit growth in local currencies. Sales of the leather-goods and saddlery division ...
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Zegna posts negative organic revenue growth in Q2
Ermenegildo Zegna posted revenues of €960.1 million for the first half of 2024, up a reported 6.3 percent year-on-year but down an organic 2.7 percent. In the second quarter, revenues reached €497.0 million, up a reported 4.7 percent and down an organic 0.4 percent. “We all recognize that 2024 will ...
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ArticleSkechers’ Q2 sales driven higher by EMEA
Skechers’ revenues generated in the Europe, Middle East and Asia (EMEA) region, bolstered by a strong performance in the direct-to-consumer (DTC) channel, rose by 14 percent to $492.5 million. The DTC gain was however mitigated across the region by supply chain disruptions from the Red Sea crisis that pushed some ...
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ArticleDeckers continues to be driven higher by Hoka and Ugg
Fueled by higher levels of full-price selling and double-digit sales gains for both its Hoka and Ugg brands, Deckers Outdoor reported 81 percent net income growth to $115.6 million for the first quarter that ended June 30 from $63.6 million a year earlier. The period marked the last earnings call ...
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LVMH's sales decline
LVMH’s fashion and leather goods division posted revenues of €20.771 billion in the first half of 2024, down by a reported 2 percent year-over-year but up by 1 percent organically. Profit from recurring operations for the division were down a reported 6 percent to €8.058 billion. Sales for the ...
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Footway’s sales continue to plummet in Q2
As in the first quarter, Footway Group AB’s net sales dropped sharply to SEK 114.9 million (€9.9 million) in the second quarter from €239.8 million as suppliers were unable to obtain credit insurance to sell products to the troubled Swedish retailer that underwent a so-called reconstruction period completed on Feb. ...
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Burberry changes CEO on poor Q1 results
Burberry appointed Joshua Schulman as chief executive officer, succeeding Jonathan Akeroyd who is stepping down and leaving the company with immediate effect by mutual agreement with the board. Schulman was the CEO of the US fashion brands Michael Kors from 2021 to 2022 and was brand president for Coach from ...
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Dr. Martens trading in line with expectations
Dr. Martens said that trading since the start of its financial year has been in line with expectations and that its guidance for the full year remains unchanged. The fiscal year of the British footwear brand ends on March 31, 2025. “As always, Q1 is the smallest period of our ...
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ArticleSabu doubles its 2023 profits
Sabu doubled its earnings in 2023, a year which proved to be one of the best ever for many of the companies part of the German shoe retail cooperative, as the Heilbronn-based firm continued on its recovery path after the Covid-19 pandemic thanks to a further rebound in sales. ...
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Shoe Zone cuts its guidance on higher transport costs, poor weather conditions
Shoe Zone further cut its full-year guidance and now expects adjusted profit before tax for the financial year ending Oct. 2 to be “not less” than £10.0 million pounds (€11.8m). The British footwear retailer said that it has continued to experience cost pressures associated with container prices due to a ...
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ArticleH&M warns that business conditions are more challenging
H&M Hennes & Mauritz continues to expect a 10 percent operating margin this year but warned that conditions have become more challenging to achieve the target. In the fiscal second quarter, which ran from March 1 to May 31, the Swedish fashion retailer’s sales rose by 3 percent in both ...
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ArticleVelasca plans new store openings but pushes back its €100m sales target
Velasca, an Italian startup launched in 2013 by Jacopo Sebastio, the chief executive officer, and Enrico Casati, continues to enjoy strong growth thanks to the extension of its product line and store openings, but warned that it may take longer than expected to reach its annual revenue objective of €100 ...
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ArticleLeder & Schuh’s sales continued to grow in 2023
Austria’s Leder & Schuh, one of Europe’s largest shoe retailers, reported a further increase in sales last year, confirming a positive trend in 2022 and 2021 after the pandemic slump of 2020. Through its Humanic and Shoe4You brands, the company increased its sales by 4.5 percent to €367 million in ...
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News briefs
Otto satisfied with its results despite a drop in sales
The German mail order company Otto posted a widening loss for the 2023/2024 financial year, but said it is satisfied with the results despite the drop in sales as it made “noticeable progress in its operating result” in an “enormously challenging market environment.” Losses increased to €426 million in ...
