All Financial results articles – Page 39
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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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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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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 ...
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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 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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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 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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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 ...
