All Financial results articles – Page 4
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ArticleDeckers announces CEO change as record-breaking streak continues
After another record-breaking quarter, Deckers has announced that Dave Powers will retire as president and chief executive officer on Aug. 1 and will be replaced by the current chief commercial officer, Stefano Caroti. Powers retires after 13 years at the helm, during which Deckers grew explosively, although he will continue ...
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ArticleSkechers cautiously optimistic on wholesale sales turnaround, DTC growth seen continuing
Skechers is cautiously optimistic about prospects for a turnaround in its wholesale business in 2024. Its direct-to-consumer (DTC) business is expected to continue growing, although likely at a slower pace than last year, as it reports that sales in the last quarter of 2023 inched up by 4.4 percent to ...
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ArticleBoot Barn sees Q4 sales drop as same-store sale headwinds continue, bad weather hurts business
Boot Barn now expects sales for fiscal year 2024 to stagnate, once again cutting its top-line guidance as revenues from new stores are offset by a continued decline in same-store sales and after poor weather in January led to a “significant disruption” in business and contributed to a sharp decline ...
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News briefsZegna’s FY sales reach €1.9bn
Ermenegildo Zegna, the owner of the Zegna and Thom Browne brands and exclusive licensee for the Tom Ford Fashion business, says that full-year revenues for 2023 have come in at €1.9 billion, up by 27.6 percent year-over-year and by 29.7 percent on a constant currency basis, with an organic growth ...
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ArticleH&M appoints a new CEO
The board of H&M Hennes & Mauritz has appointed Daniel Ervér, responsible for the H&M brand, as the new president and CEO of the Swedish fashion retailer, with immediate effect. He succeeds Helena Helmersson, who has decided to step down as CEO and leave the group. Ervér, born in 1981, ...
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ArticleTod’s hints at positive profit news as sales momentum continues
Diego Della Valle, the chairman and CEO of Tod’s, said he was “very positive” about profits and growth potential at the Italian fashion house after it reported 2023 figures that showed continuing sales momentum. Full-year sales increased by 11.9 percent last year to reach €1,127 million, growing by 14.0 percent ...
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ArticleC-Suite interview: Rohde enters the U.S. market and expands its European online business
Rohde is continuing its recovery by entering the U.S. market and expanding to most of Europe its business-to-consumer (B2C) online platform, which is currently limited to Germany. On May 3–4, 2023, Rohde took part as an “education sponsor” in the Leadership Conference of the US National Shoe Retailers Association held ...
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ArticleRevenues fall at Dr. Martens as U.S. business remains out of step
Dr. Martens’ revenues fell by a fifth during the key Christmas period because of continuing weak performance in the US and a slump in wholesale demand. The British footwear company, which issued four profit warnings last year, posted revenues of £267 million (€313m) for the last three months of 2023, ...
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ArticleEurope underpins Ferragamo’s sales
Salvatore Ferragamo’s total revenues in the fourth quarter of 2023 fell by 5.6 percent on a reported basis, and by 5.9 percent at constant exchange rates, to €312.5 million, roughly in line with market expectations. During the quarter, net sales, which exclude certain revenues such as licenses, registered a “positive ...
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ArticlePrimark does not expect severe disruption due to Red Sea tension
Primark’s sales grew by 2.1 percent on a like-for-like basis over the Christmas quarter despite a warm autumn, however they were down from an 8 percent rise in the previous three months. The British fast-fashion retailer added it did not expect severe supply disruptions from attacks on commercial shipping in ...
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ArticleANWR Group's FY sales down 5%
ANWR Group reported a 5.0 percent decrease in business volumes to €20.7 billion in 2023, with all divisions suffering a decline. “2023 was a particularly challenging year,” said Frank Schuffelen, the CEO of the ANWR Group. “Inflation rates, high cost pressure and the depressed consumer sentiment caused by the geopolitical ...
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ArticleStella’s Q4 sales rise on inventory replenishment by some customers
In the fourth quarter of 2023, Stella International Holdings posted a rise in manufacturing revenues to $380.3 million from $335.1 million a year earlier as footwear shipment grew by 10.9 percent to 13.2 million pairs from 11.9 million and the average selling price (ASP) inched up to $28.8 a pair ...
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ArticleBirkenstock’s earnings and guidance disappoint
Birkenstock released a disappointing first set of earnings as a public company prompting its stock to plummet nearly 8 percent on the day. The company also warned of a further Ebitda margin squeeze in the new fiscal year due to ramp-up costs at its new factory near Pasewalk in Germany. ...
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News briefs
Hugo Boss' Q4 sales, Ebit rise
In the fourth quarter of 2023, Hugo Boss’ currency-adjusted sales grew by 13 percent to €1,177 million, with all brands, regions and channels contributing to top line growth. Meanwhile, Ebit increased by 17 percent to €121 million, but it missed market expectations of €133 million. In the full year, currency-adjusted ...
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News briefs
Burberry cuts its guidance
Burberry expects its adjusted operating profit in the fiscal year ending March 31, 2024 to come in betweem £410 million and £460 million (€477-535m), less than the previous guidance of towards the lower end of a £552 million to £668 million range (€642-776m). It said that it is committed to ...
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News briefs
Yue Yuen's manufacturing sales decline again in December
Manufacturing sales of Hong Kong-based Yue Yuen Industrial fell by 2.4 percent to $420.4 million in December. It was the slowest decline in manufacturing sales last year. For the whole of 2023, sales were down by 18.4 percent. However, sales at Yue Yuen’s retail business Pou Sheng grew by 15.9 ...
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ArticleShoe Zone to phase out Original format stores by end 2026
Shoe Zone plans to spend a minimum of 3-4 percent of sales annually to cover 50 store projects, head office infrastructure and IT changes after growing revenues in fiscal 2023, despite trading from fewer locations. As part of a reorganization of its estate, the British budget footwear company expects to ...
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ArticleCrocs looks to international business to drive growth
Crocs expects international markets to outperform its domestic business in coming years, after a 2023 marked by a strong performance for the U.S. footwear group in Asia, led by “extraordinary” growth in China. Markets outside of the U.S. now represent nearly 40 percent of the group’s business, said Andrew Rees, ...
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News briefs
Caleres reiterates its full-year guidance
Caleres reaffirmed its financial outlook for consolidated sales and earnings per share (EPS) for the fiscal year 2023. The U.S. footwear company expects net sales to be down by 4.5 percent to 5.5 percent compared to fiscal 2022, diluted EPS of $3.96 to $4.06 and adjusted diluted EPS of $4.10 ...
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ArticleGenesco slashes FY earnings guidance after disappointing Christmas period
Genesco slashed its full-year earnings guidance in the wake of weak Christmas sales. In the nine weeks to Dec. 30, which represent about two-thirds of the company’s fiscal fourth quarter, like-for-like sales decreased by 4 percent. Same-store sales decreased by 6 percent and comparable sales for the company’s e-commerce businesses ...
