All Financial results articles – Page 35
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News briefs
Sabu swings back to growth as sales return to pre-Covid levels
The German shoe retail cooperative Sabu reported strong results for 2022 driven by a surge in sales and an increase in points of sale, as the pandemic loosened its grip. Sales swung back above pre-Covid levels and were up by 42 percent to € 335 million compared to 2021. ...
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ArticleAllbirds’ Q4 loss widens; company sets transformation plan
Allbirds completed its first full year as a public company by reporting a $25.5 million operating loss versus an operating loss of $6.4 million in the period ended Dec. 31. The net loss was $24,866,000 against a net loss of $10,444,000. Promotion and the discontinuation of first-generation apparel contributed to ...
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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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ArticleZalando sees operating profits improving in 2023
Zalando expects its operating profits to improve this year, after declining in 2022, and sees its Ebit margin reaching the upper end of its guidance by 2025. The German online fashion retailer reported that in 2022 its gross merchandise value (GMV) rose by 3.2 percent to €14.798 billion from €14.333 ...
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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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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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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 ...
