All Financial results articles – Page 37
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ArticleAllbirds Q3 losses widen, warns of “choppy” holiday trading
Sustainable footwear and clothing brand Allbirds has posted wider third-quarter losses and warned of “choppy” trading conditions in the run-up to Christmas. The company said net losses increased to $25.2 million from $13.8 million a year ago, and net loss margin increased to 35 percent from 22 percent. Operating losses ...
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Article
Wolverine establishes new brand structure, sets bigger focus on profit
Shares in the parent company of Merrell, Saucony, Keds and Sweaty Betty declined more than 34 percent on Nov.9 after it missed its third-quarter earnings target and lowered its guidance for the FY. Wolverine World Wide Inc.’s shares are down 59 percent year-to-date. The full-year outlook calls for 14 percent ...
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News briefs
Etro sees sales at €500m in 5 years
Etro aims to have annual sales of about €500 million in five years’ time compared with an estimated in €270 million in 2022, according to Fabrizio Cardinali, the CEO of the Italian fashion house. This year, sales are expected to rise 20 percent. Cardinali said that the company is targeting ...
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ArticlePrimark freezes prices and writes down German business
Primark is freezing prices despite soaring inflation and is also taking a writedown and reviewing its store estate at its German business. The British clothing retailer recorded total sales of £7.7billion (€8.83bn) for the year to Sept. 17, up by 43 percent on last year, as U.K. like-for-like sale and ...
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ArticleClarks focuses on China and U.K. after returning to a profit
Clarks swung to a profit in the 2021/2022 fiscal year thanks to reduced discounting and a better product mix. The British company is targeting a return to pre-Covid turnover levels within three years. The 197-year-old brand started a five-year reorganization program to cut costs under the guidance of its new ...
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ArticleGrendene takes over the management of its Melissa Club franchise
Grendene has taken over the management of its network of Melissa Club stores in Brazil after putting an end to an agreement with Multi Franqueadora, which acted as master franchiser. ”By internalizing the management of the franchise network, the company aims to gain more control of the channel, accelerate the ...
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ArticleSteve Madden cuts full-year guidance on order intake
Steve Madden reported third-quarter results in line with market expectations but slightly reduced its full-year guidance due to a slowdown in orders. In the period ended Sept. 30, the company posted a 5.3 percent increase in revenues year-over-year to $556.6 million. Sales for the wholesale business increased by 8.1 percent ...
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ArticleHavaianas’ growth in EMEA slows for Alpargatas
Alpargatas generated a 5.4 percent (+21 percent currency neutral) sales growth to 132.0 million Brazilian reais (€32.5m) for its rubber sandal brand in the EMEA during the third quarter. Revenues per pair increased by 4 percent in constant currency. Overall, Havaianas’ sales fell in all other geographic regions, although they ...
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ArticleCrocs raises guidance after another strong quarter
Strong third-quarter results at Crocs were negatively impacted on the gross margin line by inflationary expenses and higher freight and inventory handling costs, but 45 percent of the expenses are seen as transitory. Gross margin came in at 54.9 percent against 63.9 percent in the year-ago period ended Sept. 30. ...
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ArticleRocky Brands lowers FY revenue outlook
Despite reporting steady or strong sales from its portfolio of footwear brands during the third quarter, Rocky Brands has lowered its full-year revenue outlook due to a difficult, year-over-year sales comparison in the fourth quarter. Through nine months, the parent of the Durango and Georgia brands, among others, had a ...
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ArticleWeyco expects sales dip after record Q3
Weyco Group generated record sales in the third quarter of 2022, with revenues jumping by 56 percent compared to the year earlier to $97.0 million. Growth was led by its North America wholesale business and underpinned by strong consumer demand, higher selling prices and the “abnormally low” revenues seen in ...
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News briefs
eBay’s sales continue to decline
eBay has posted another revenue decline in the third quarter, which was marked by inflation and economic worries. In the quarter ended Sept. 30, revenues fell by 5 percent year-on-year to $2.4 billion. Adjusted income fell by 7 percent to $552 million. eBay has been struggling since the pandemic online ...
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News briefsNext maintains FY guidance as Q3 comes in ahead of expectations
Next maintained its full-year guidance as it posted a rise in third-quarter sales, despite soaring inflation hitting consumer spending. Full-price sales were up by 0.4 percent year-on-year in the 13 weeks to Oct. 29, slightly ahead of the expectations of the British fashion retailer. Online sales fell by 1.9 percent ...
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ArticleZalando resumes growth in Q3
In the third quarter of 2022, Zalando’s net loss widened to €35.4 million from €8.4 million a year as capital expenditure grew to €77.0 million from €57.7 million. However, the German online fashion retailer resumed sales growth after a weak first half. In the third quarter, the gross merchandise volume ...
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News briefs
Revenues of major fashion groups up 18%
Global revenues for the major players in the fashion sector rose by 18 percent in the first nine months of 2022, with a 15 percent rise at constant currency rates, according to a report from the research arm of the Italian investment bank Mediobanca. The report analyzed the results of ...
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ArticleCCC to raise funds, restructure debt
CCC Group announced plans to extend the duration of financing set to mature in the first half of 2023 and has called an extraordinary general meeting of shareholders on Nov. 17 to discuss equity financing of up to 500 million zloty (€106.3m) as it looks to raise fresh cash to ...
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ArticleVulcabras’ operating margin narrows in Q3
Vulcabras’ recurring net income rose by 36 percent to 99.9 million Brazilian reais (€19.6m) in the third quarter of 2022 from R$73.6 million a year earlier. Ebitda declined by 4.8 percent to R$132.2 million (€25.9m) from R$138.9 million and the Ebitda margin narrowed by 6.0 percentage points to 19.9 percent. ...
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News briefs
Amazon provides weak guidance for holiday season
Amazon has announced a net sales increase of 15 percent to $127.1 billion in the third quarter ended Sept. 30. Excluding the $5.0 billion unfavorable impact from year-over-year changes in foreign exchange rates during the quarter, net sales increased 19 percent versus third quarter 2021. Sales at the Amazon Web ...
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News briefs
Shopify sales rise 22% in Q3
In the third quarter, the e-commerce platform Shopify, headquartered in Ottawa, Canada, posted a 22 percent year-over-year revenue increase to U.S. $1.4 billion. “Our merchant solutions revenue as a percentage of GMV climbed to 2.14 percent, the highest level in Shopify’s history,” commented Harley Finkelstein, Shopify’s president. Despite the revenue ...
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ArticleDeckers sees big potential for Hoka brand
Deckers Brands believes its Hoka brand, already wildly successful, has plenty of upsides ahead as a head-to-toe brand serving running, trail and hiking consumers worldwide like rivals Salomon and VF Corp.’s North Face, and less like running-centric Brooks. “We are re-looking at our category approach,” proclaimed Dave Powers, president ...
