All Financial results articles – Page 29
-
ArticleAlibaba misses revenue forecast but steps up investments
Alibaba reported that its revenues had missed the forecasts for its fourth quarter. The company is struggling to attract new users as the Chinese e-commerce market matures and new competitors chip away at market share. However, the Chinese e-commerce group released an update on its restructuring and plans to step ...
-
ArticleU.S. footwear stocks tumble after Foot Locker’s profit warning
Shares in U.S. footwear companies nosedived after Foot Locker issued a profit-warning due to the softening of market conditions and the need to increase markdowns to reduce inventories. Mary Dillon, Foot Locker’s president and chief executive officer, said that since the launch of the company’s Lace Up Strategy at its ...
-
ArticleFarfetch resumes growth in Q1 and confirms its full-year guidance
Farfetch resumed growth and narrowed its adjusted losses in the first quarter of 2023. It confirmed its full-year guidance of about 20 percent in gross merchandise value (GMV) and a positive Ebitda margin. Quarterly GMV totaled $931.7 million, up by a reported 0.1 percent year-over-year and by 4 percent at ...
-
ArticleBoot Barn reports lower-than-expected Q4 revenues, expects weak sales in Q1
Boot Barn posted lower-than-expected revenues in the fourth quarter that ended on April 1 and anticipates weak sales in the first quarter of its new fiscal year, sending shares sliding as much as 13 percent on the news. The American Western-style footwear and apparel retailer reported net sales of ...
-
News briefs
Pollini Q1 sales up by over 23%
Pollini, the luxury footwear brand owned by the Italian fashion house Aeffe, posted sales of €10.4 million in the first quarter of 2023, up by a reported 23.1 percent from a year earlier. Meanwhile, Aeffe booked revenues of €93.2 million during the period, down by 8.2 percent on the year ...
-
ArticleShoe Zone's half-year sales surge, but profit halved
Shoe Zone reported a strong rise in half-year sales as consumers sought value for money during the cost-of-living crisis hitting the U.K., but inflation and labor costs meant profits for the period were halved. Sales for the 26 weeks to April 1 grew by 8 percent to £75.4 million (€86.6m) ...
-
ArticleCoats’ sales are hit by destocking
In the first four months of 2023, Coats suffered a 20 percent year-over-year decline in revenues, organically and at constant currency rates, largely due to continued widespread industry destocking affecting its Apparel and Footwear divisions. On a reported basis, group revenues were down by 12 percent. Organic revenues were down ...
-
ArticleBoohoo swings to FY loss but forecasts return to profit this year
For the fiscal year end on Feb. 28, Boohoo reported annual pre-tax losses of £90.7 million (€104.2m) and a sharp fall in sales but predicted a return to underlying profit in the current fiscal year and produced a surprise positive cash flow which pleased investors on the London Stock Exchange ...
-
ArticleSteve Madden’s Q1 sales decline despite growth outside the U.S.
In the first quarter of 2023, Steve Madden suffered a 17.1 percent year-over-year decrease in revenues to $463.8 million due to declines in both its wholesale and direct-to-consumer (DTC) businesses. International revenues were a bright spot for the company, increasing by 13 percent in the quarter and accounting for over ...
-
ArticleGrendene sales inch up despite challenging domestic market, slump in exports
Grendene reported revenues of 657.6 million reais (€122.9m) in the first quarter of 2023, up by 4.2 percent compared to the year earlier although consumers in its home market of Brazil continued to see their disposable income eroded by high inflation, interest rates and unemployment while exports were under pressure ...
-
ArticlePrada's Q1 footwear sales up 20%
In the first quarter of 2023, footwear sales for the Prada group in the retail channel rose by 20 percent at constant currency rates to €176 million from €147 million a year earlier. Shoes represented 18 percent of the group’s quarterly retail sales. The group said that both its formal ...
-
ArticleRussia’s Zenden plans to push on sports footwear
Russian casual footwear retailer Zenden has set its sights on sports footwear, a niche the company sees as lucrative after the departure of the leading Western brands. Alexander Sarychev, Zenden’s chief executive, revealed that the company, in the coming years, plans to accelerate the development of its sports brand Pulse, ...
-
ArticleRelaxo’s FY revenues rise but earnings slip on higher costs
Relaxo Footwears, an Indian group that sells shoes under various brands including Sparx, Flite and Bahamas, posted revenues from operations of 2,783 crore rupee (€312.0m) in the full year ended March 31, up by 4.88 percent year-on-year. Total income grew by 4.65 percent to INR 2,801 crore (€314m). In the ...
-
ArticleStuart Weitzman’s Q3 sales up a currency-neutral 10%
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $68 million in the fiscal third quarter ended on April 1, up by 7 percent year-on-year on a reported basis and by 10 percent at constant currency rates. “In the third quarter, we delivered 10 ...
-
News briefs
Richemont FY sales up 19%
Richemont said that in the year ended March 31, sales reached a record high of €19.953 billion, up by a reported 19 percent and 14 percent higher at constant currencies driven by the retail business, up by 22 percent and 17 percent, respectively. The retail division represented 68 percent of ...
-
ArticleGeox trims 2023 sales target after 21% increase in Q1
Geox cut its 2023 target for sales growth to 4-6 percent from 6-8 previously, as weaker reorders in the multi-brand channel in April and the first week of May compared to the previous year have led it to have a more cautious view on its top line expectations. Sales in ...
-
ArticleYue Yuen Q1 results impacted by soft global footwear demand
High inventory levels across the industry coupled with softer global footwear demand negatively impacted first-quarter results at Yue Yuen. For the period ended March 31, Ebit fell by 32.2 percent to $65.9 million from $97.1 million a year earlier. Net profit attributed to the company declined by 42.6 percent to ...
-
ArticleTod’s’ Q1 sales beat expectations
With first-quarter sales coming in at €270.5 million, up by 23.2 perent year-on-year on a reported basis and by 23.3 percent at constant currency rates, Tod’s beat market expectations by about €20 million. Citi noted that the news was not a huge surprise considering the good performance posted over ...
-
ArticleAsos’ losses widen as shoppers cut back on spending
Asos reported wider interim losses as shoppers cut back on spending amid the cost of living crisis in the U.K. Financial analysts are divided on the company’s future prospects with one broker warning that the troubled company may have to raise more cash. In the first half ended Feb. 28, ...
-
ArticleWolverine explores options for Sperry
Wolverine Worldwide reported better-than-expected first-quarter results and said it was exploring options for its Sperry footwear and apparel brand as it works to reshape its business amid a deterioration in market trends since the start of the year, macroeconomic concerns and a cold spring selling season that has hit consumer ...
