All Financial results articles – Page 36
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News briefs
Farfetch sees 2025 GMV at $10.5bn
Farfetch expects its gross merchandise value (GMV) to rise to $10.50 billion from an estimated $4.05 billion in 2022 and a forecast $4.90 billion in 2023. The U.K. based fashion online retailer anticipates adjusted Ebitda margin to rise to 10 percent in 2025 from a negative 3-5 percent this year ...
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Article
VF's CEO steps down
VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board since 2009, will serve as interim chairman of the board. Dorer’s appointment follows Steve Rendle’s decision ...
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ArticleGenesco cuts earnings guidance after ‘sluggish’ start to November sales
Genesco cut its guidance for earnings and tightened expectations for revenues in the full year ending in February 2023, as it took a more conservative approach after beginning the fourth quarter in November with a “sluggish” sales performance and stepping up promotional activity to attract bargain-conscious consumers. Genesco now forecasts ...
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News briefs
Directa Plus sees FY sales at least €10m
Directa Plus, an Italian producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, expects to finish 2022 with sales of at least €10 million, up by 16 percent from the €8.6 million booked in 2021. The company said that it will enter 2023 with ...
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ArticleDesigner Brands focuses on own brands, clearance
Designer Brands, which has dialed back its full-year earnings per share guidance, is eyeing its own footwear brands and clearance business as key growth vehicles going forward. The parent of the DSW Warehouse banner told financial analysts that shoe consumers today have become more focused on value and that it ...
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ArticleCaleres maintains sales outlook as Brand Portfolio outperforms
Caleres maintained its outlook for full-year sales growth of four to six percent while tightening earnings per share expectations to the top end of its guidance range, as management confirmed the company is on track for another record year for earnings despite a challenging economic backdrop. Caleres now sees adjusted ...
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ArticleCCC targets cost savings, cuts revenue forecast in a difficult market
CCC Group, the Polish footwear and fashion group, cut its full-year outlook for revenues and capital expenditures and announced it would put into place cost savings measures totaling 300 million zloty (€64.0 million) as it continues to navigate through what it described as an “extremely challenging” year for retailers. Due ...
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ArticleDr. Martens warns on profits as DTC sales soften
Dr. Martens has issued a warning on full-year profits, citing weakening demand, higher investment in its direct-to-consumer (DTC) push and a stronger U.S. dollar. The British company, famed for its lace up boots now popular with celebrities, said pre-tax profit fell by 5 percent to £57.9million (€67.5m) as DTC sales ...
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News briefs
Piquadro narrows its net loss
In the first half ended Sept. 30, the Italian leather goods firm Piquadro posted a net loss of €0.1 million, down from the €1.5 million loss a year earlier. It booked sales of €80.23 million, up by 26 percent year-on-year. Ebitda rose to €10.2 million from €8.5 million and adjusted ...
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ArticleCoats’ apparel and footwear business slows down
The Apparel & Footwear (A&F) division of Coats enjoyed a 14 percent year-over-year increase in organic revenues in the first ten months of 2022 but growth slowed down to 3 percent in the four months July 1 to Oct. 31. Meanwhile, total revenues of the British company, which produces industrial ...
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ArticleShoe Carnival gears up for Shoestation.com launch as Q3 sales dip 4%
Shoe Carnival revealed that it is in the final testing phase for an e-commerce site for the recently acquired Shoe Station banner, with a launch date expected in the coming weeks or early in the group’s 2023 fiscal year at the latest. “We’re making sure the supply chain is flawless ...
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ArticleFarfetch’s operating loss widens despite higher sales
Farfetch, the online platform for luxury goods, suffered a $218.5 million operating loss in the third quarter of 2022 versus a $105.7 million loss in the year-ago period. The attributable net loss was $274.2 million against a profit of $767.2 million. Revenues increased by 1.9 percent, or 14.1 percent at ...
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ArticleAlibaba’s operating income increases 68%
Alibaba experienced a 3 percent jump in revenues to 207.2 billion yuan renminbi (€28.1bn) in the second quarter ended Sept. 30 from RMB 200.7 billion a year earlier. The increase occurred despite the Covid-19 resurgence in China that depressed consumer demand, currency volatility, higher logistics costs and slowing cross-border commerce. ...
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ArticleGeox maintains guidance despite expectations for weaker Q4
Geox said it was maintaining its guidance for 2022 after a solid third quarter and despite expectations for a weaker performance in the fourth quarter. Growth in its top line in the last three months of the year is seen limited by delays in deliveries and the loss of apparel ...
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ArticleStuart Weitzman’s sales are flat, operating result negative
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $65 million in the fiscal first quarter ended Oct. 1, unchanged year-on-yer at constant currency rates. “We delivered growth in North America, aided by strength in the wholesale channel, while pressure remained in the highly ...
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ArticleTod’s still has not decided on delisting move
Diego Della Valle, the chairman and CEO of Tod’s, still has not decided on his next move to delist the Italian luxury goods company after his first attempt to buy out minority shareholders failed. During a conference call with financial analysts, the company’s chief financial officer, Emilio Macellari, said that ...
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ArticleJimmy Choo’s sales slow down sharply in Q2
In the fiscal second quarter ended Oct. 1, Jimmy Choo posted revenues of $142 million, up by 3.6 percent year-over-year on a reported basis and by 15.3 percent at constant currency rates. In the first quarter of the fiscal year, sales had risen by a reported 21.1 percent and by ...
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News briefs
Spartoo drops its GMV growth guidance
Spartoo announced that its guidance regarding gross merchandise value (GMV) growth for 2022 and 2023 is now “obsolete.” The French online retailer had previously set a GMV growth target of more than 10 percent per year until 2024. The decision to drop the guidance ”follows the confirmation of a slowdown ...
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ArticleYue Yuen cautious about months ahead despite strong Q3
Yue Yuen reported a 171 percent increase in nine-month profit attributable to shareholders of $270.1 million versus $99.6 million. Revenues increased 8.2 percent to $6,971.9 million from $6,441.2 million for the period ended Sept. 30. Ebit was up 101 percent through nine months at $353.4 million, but gross margin was ...
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ArticleEurope drives Ferragamo’s sales higher
Salvatore Ferragamo reported a growth in sales and profits in the first nine months of 2022, thanks to a positive performance in both distribution channels and a strong increase in revenues in the Europe, Middle East and Africa (EMEA) business region. The Italian fashion house posted a 17.2 percent rise ...
