All Financial results articles – Page 31
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News briefs
Garmont posts 16% sales growth in H1
Italian outdoor footwear manufacturer Garmont saw its sales increase by 16 percent in the first half of 2023 as compared to the same period of 2022, with Ebitda up by 38 percent. The company attributed the growth in the first half to the outdoor segment and its new products for ...
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News briefs
H&M’s Q3 sales disappoint
H&M’s net sales in the third quarter that ended Aug. 31 reached SEK 60.897 billion (€5.1bn), up by 6 percent from a year ago but were “flattish” in local currency terms. Excluding Russia, Belarus and Ukraine, sales rose 8 percent in Swedish krona. H&M wound up its operations in Russia ...
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News briefs
Golden Goose’s H1 sales up 21% to €276.4m
Golden Goose’s first-half revenues totaled €276.4 million, up by 21 percent year-on-year and by 65 percent compared with the same period in 2021. The Italian sneaker brand said that growth was underpinned by its internationalization, the focus on direct-to-consumer (DTC) sales and the expansion of its product range. DTC sales ...
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News briefs
Inditex’s H1 sales up 13.5%
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, said that in the first half ended July 31 net sales rose by 13.5 percent to €16.9 billion. At constant currency rates, the top line grew by 16.6 percent. Gross profit increased by 14.1 ...
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News briefs
Zegna’s H1 net profit rises nearly 148%
The Italian fashion house Ermenegildo Zegna posted a net profit of €52.1 million in the first half of 2023, up by 147.9 percent compared to the year earlier. Revenues for the period, which was already reported in July, increased by 23.9 percent to €903.1 million. The group’s adjusted Ebit was ...
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ArticlePrimark recovery to boost annual profit at parent, but stock theft rising
A strong recovery at the retail chain Primark has helped its parent company Associated British Foods (ABF) to lift annual guidance again, although it warned about a sharp increase in stock theft and abuse against staff in its stores around the world. ABF said it now expected adjusted operating profit ...
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ArticleDesigner Brands sees tailwinds from Nike sales, ‘softer’ comps as economic pressures continue
Designer Brands maintained its sales and earnings guidance for the full year, highlighting the “softer” comparable figures it is facing in the third and fourth quarters and an expected lift from the sale of Nike shoes, as it resumes sales after renewing its partnership with the U.S. sportswear company earlier ...
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ArticleTod’s’ operating profits beat expectations
In the first half of 2023, Tod’s posted earnings before interest and tax (Ebit) of €60.3 million, significantly higher than the €17.7 million posted a year earlier and the €36 million forecast by financial analysts. The Ebit margin widened to 10.6 percent from 3.8 percent the previous year. The Italian ...
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ArticleCaleres maintains guidance as profits increase in Q2 despite ‘choppy’ market
Caleres maintained its earnings and revenue guidance for the full year, after posting better-than-expected profits in the second quarter despite a slightly worse-than-anticipated sales performance and a market that continues to be “choppy”. In the second quarter ended July 29, sales at the U.S. footwear group slipped by 5.8 percent ...
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ArticleSergio Rossi boosts H1 sales
In the first half of 2023, Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods firm Lanvin Group, posted sales of €33 million, up by 22.4 percent from a year earlier. The brand’s sales rose by 29.7 percent in EMEA, 31.5 percent in North America and 20.9 percent ...
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ArticleSchuh shines for Genesco in Q2, but company retains ‘cautious’ FY view
Bolstered by warm weather and higher average selling prices (ASPs), the Schuh Group segment of Genesco reported a record quarterly operating income of $8.4 million against $2.1 million a year earlier. With approximately 40 percent of its business generated by the digital channel, Schuh reported 21 percent sales growth to ...
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ArticleShoe Carnival cuts guidance again but makes inroads among higher-income customers
Shoe Carnival cut its full-year sales and earnings per share guidance for the second time as less affluent urban clients continue to face adverse economic conditions. However, the U.S. footwear retailer noted that its business environment is improving thanks to moderating inflation and by attracting more higher-income customers. “Simply ...
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ArticleFoot Locker suspends dividend payments amid falling sales
Foot Locker announced the suspension of its dividend payments and a cut in its full-year guidance after posting a decline second-quarter sales. The news led to an over 28 percent plunge in the company’s share price on the Nasdaq market in New York. In the second quarter ended July 29, ...
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News briefs
Farfetch reports Q2 loss, small revenue drop
Farfetch reported an adjusted Ebitda loss of $30.6 million and a 1.3 percent drop in revenues to $572.1 million for the second quarter ended June 30. The net loss at the internet platform for luxury goods was $281.3 million against a profit of $67.7 million. Gross merchandise value (GMV) inched ...
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ArticleStella improves its operating margins in H1
Stella International, the Hong-Kong based footwear manufacturer and retailer, improved its operating margins thanks to an increase in the average selling price (ASP) per pair due to new customers for its luxury and high-end fashion categories as well as higher demand for premium products, including for the sports category. The ...
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ArticleBata India is exploring a partnership in its local market
Bata India said that it is exploring the opportunity of a partnership in its domestic market but had no developments to announce. ”We would like to inform that the company continues to explore opportunities for strategic alliance / collaborations / tie-up for the Indian market and as and when matters ...
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ArticleStuart Weitzman will be relying on sneakers, China to boost sales
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted fourth-quarter sales that were more than $12 million below expectations of financial analysts. However, the brand is relying on the launch of an extended sneaker assortment and the reopening of the Chinese market, after the lifting of ...
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ArticleSoft global footwear demand continues to impact Yue Yuen
Profit attributable to Yue Yuen (YY) shareholders declined by 52 percent to $83,601,000 for the six months ended June 30 from $175,049,000 a year earlier, as sales fell by 12 percent to $4,154,968,000 from $4,709,792,000. Ebit fell by 36 percent to $143,227,000. The company cited a sluggish global macroeconomic environment ...
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ArticleJimmy Choo’s Q1 sales rise as expected
In the first fiscal quarter ended on July 1, Jimmy Choo posted revenues of $183 million, up by 6.4 percent compared to the prior year on a reported basis and by 7.0 percent at constant currency rates. The brand’s operating income was $16 million and operating margin 8.7 percent, compared ...
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ArticleGrendene is optimistic about H2 despite a weak Q2
Grendene suffered an 8.6 percent decline in gross revenues to 586.2 million reais (€108.9m) in the second quarter of 2023, but the Brazilian footwear group is optimistic about the second half of the year, when it usually achieves about 60 percent of its sales. Thanks to a positive first quarter, ...
