All Financial results articles – Page 33
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ArticleInterim sales rise at Primark, but caution sounded on outlook
Primark reported a sharp rise in half-year sales, driven by higher prices and a return to physical stores after the Covid-19 pandemic, but remained cautious about its future performance amid the cost-of-living crisis and persistent inflation affecting European and U.S. clients. Associated British Foods (ABF), the parent company of the ...
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ArticleFerragamo posts weak Q1 sales as its relaunch remains uncertain
As expected by financial analysts, Salvatore Ferragamo released weak sales figures for the first quarter of 2023, down by 4.0 percent to €278.0 million. At constant currency rates, the decline reached 6.5 percent year-over-year. The contribution Maximilian Davis, who became the creative director of the Italian fashion house on March ...
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ArticlePhoenix International’s credit rating outlook is raised
The rating agency Infomerics Valuation and Rating Limited (IVR) has reaffirmed the long-term rating of “IVR BBB-“ for 124.00 crore rupee (€13.8m) of long-term bank loan facilities contracted by the Indian group Phoenix International. Infomerics also improved its credit outlook to “stable” from “negative” thanks to an improvement in lease ...
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ArticleFootway sees sales drop in Q1, but grows internationally
Several Swedish media outlets have reported on Footway Group’s first-quarter figures, which show that the Swedish e-commerce group’s sales fell 7.9 percent year-on-year to SEK 215.9 million (€19.08m). Operating profit (Ebitda) for the quarter was SEK -24.5 million (-€2.17m), an improvement from SEK -71.2 million a year earlier. According to ...
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ArticleStella’s Q1 sales drop as clients clear out inventories
In the first quarter of 2023, Stella International suffered a 25.8 percent drop in manufacturing revenues to $277.4 million from $374.6 million a year earlier as footwear shipments declined by 31.4 percent to 9.6 million pairs from 14.0 million as certain sport and casual customers pulled back on ordering to ...
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News briefs
Zegna sees ‘encouraging recovery’ as China reopens
The Italian fashion house Ermenegildo Zegna has started 2023 with an “encouraging recovery led by the reopening in China following restrictions tied to Covid-19 and the robust growth in our business in the United States and Europe led by our retail, and for Zegna a healthy increase in productivity, which ...
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News briefs
3A expects sales of €105m in 2023
3A, an Italian distributor of international sportswear and fashion brands, posted revenues of €94 million, up by 27 percent in 2021. Despite an increase in costs, the Ebitda margin widened to 8 percent from 6 percent a year earlier. The company ended 2022 with a net profit of €4.8 million. ...
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News briefs
Piquadro’s Q4 sales up by 22%
Piquadro generated revenues of €48.8 million in its fourth quarter ended March 31, up by 22 percent compared to the year earlier. For the full year, revenues increased by 17.5 percent to €175.6 million. In the fourth quarter, the Piquadro brand reported revenues of €23 million, up by 19.9 percent ...
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News briefs
THG's operating loss widens
THG’s operating loss widened to £495.6 million (€562m) in 2022 from £137.5 million the year earlier, as profits were hit by the non-cash impairment of £275.4 million (€312m), in addition to certain non-recurring costs which continue to decline. Adjusted Ebitda for the year amounted to £64.1 million (€73m), in line ...
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ArticleDr. Martens lowers profits guidance again as distribution center blunder costs rise
Dr. Martens lowered its profit guidance for the third time in five months after admitting that operational blunders at its Los Angeles distribution center (DC) have cost more than anticipated. The company issued its second profit warning in January after problems at the center created bottlenecks. The previous warning, in ...
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News briefs
Hermès sales up by 22% in Q1
Hermes’ first-quarter revenue reached €3,380 million, up by a reported 22 percent and by 23 percent at constant currency rates, with growth in all geographical areas and across all the business lines. The leather goods and saddlery division booked sales of €1,409 million, up by a reported 18 percent and ...
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News briefs
La Sportiva's sales up by 30% in 2022
La Sportiva’s sales increased by 30 percent year-over-year to €216 million in 2022. International sales accounted for 80 percent of the company’s revenues. Sales in both Europe and the U.S. grew by double-digit rates, driven by the rising interest in outdoor activities. Founded in 1928 by Narciso Delladio, is still ...
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News briefs
IMAC’s FY sales rise to €217m
IMAC, the Italian footwear company that owns the brands Igi&Co, Primigi, IMAC and Enval Soft, posted sales of €217 million in 2022, up by 10 percent from a year earlier. The group achieved 55 percent of its revenues in Italy. Sales by brand stood at €88 million for Primigi, €63 ...
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News briefs
LVMH Q1 sales up by 18%
LVMH saw organic and reported sales of its fashion and leather goods division rise by 18 percent year-over-year in the first quarter to €10.728 billion. Sales for the whole French luxury-goods conglomerate were up by 17 percent to €21.035 billion. Europe and Japan, which enjoyed strong growth momentum, benefited from ...
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ArticleGolden Goose boosts FY sales above €500m
In 2022, Golden Goose increased its sales by 30 percent to €501 million, driven by a 55 percent rise in revenues in the Americas to €230.4 million. In Europe, Middle East and Africa sales grew by 33 percent to €193.1 million, but the top line was down by 4 percent ...
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News briefs
Zegna posts a full-year profit
The Italian fashion group Ermenegildo Zegna posted a net profit of €65.3 million in 2022 compared with a loss of €127.7 million in 2021 as revenues rose by 15.5 percent to €1,493 million. Last year’s loss was caused by costs incurred to merge with Investindustrial Acquisition Corp, a special purpose ...
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ArticleDeichmann to invest €500 mln in 2023
Deichmann plans to invest around €500 million this year, half of which is earmarked for Germany. Investments will focus on the modernization and expansion of the store network, as well as in international growth, digitalization and logistics. The German footwear retailer plans to open 200 new stores worldwide. At the ...
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ArticleH&M posts an operating profit in Q1
In the first quarter that ended Feb. 28, H&M unexpectedly posted an operating profit of SEK 750 million (€66.4m), up from a profit of SEK 458 million a year earlier. Financial analysts were expecting a loss of more than SEK 1.0 billion (€88.5m). The operating margin widened to 1.3 percent ...
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ArticleNext cautious on outlook but sees inflationary pressures easing
Next reported a better-than-expected annual profit but warned that it still expects sales and earnings to fall in a “very challenging” current fiscal year. Inflationary pressures were forecast to ease as freight costs drop and the cost of goods improve, but higher wages and energy costs are still expected to ...
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ArticleStella expects a decline in sales volumes in 2023
Stella International anticipates sales volumes to decline in 2023, especially in the first half of the year, driven by a decrease in orders for sports shoes. The drop is expected to be partially offset by additional customers in the luxury and the fashion categories. The Hong-Kong based footwear manufacturer and ...
