All Financial results articles – Page 45
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ArticlePittards enjoys a strong start to the year, expands business with Vivobarefoot
The British leather and leather goods company Pittards has started 2022 with the highest level of orders in three years and it expects shoe production in its factories in Addis Ababa, Ethiopia, to grow faster than in 2021. “We have started the current year with a better order book than ...
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News briefs
Tempe sales up by 30% in 2021
In 2021, Tempe increased its revenues by 30 percent to €1,305 million. The top line however remains below the €1,399 million posted in 2019, the last year before the onset of the Covid-19 pandemic in Spain. Nevertheless, the company posted a record net profit of €119 million as revenue, ...
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News briefs
Stella will produce more in Indonesia
While starting up its new shoe manufacturing facility in Solo, Indonesia, Stella International is already planning to add a second factory to make 15 million pairs a year in the country, following a $120 million investment from its largest client, which represented 34 percent of its revenues last year. With ...
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ArticleCaleres delivers strong results
Caleres’ operating income was $43.8 million in the fourth quarter ended Jan. 29 against a loss of $55.4 million a year earlier. Net income came in at $33.9 million against a loss of $77.1 million. Total period revenues increased by 19.0 percent to $679.3 million from $571.0 million as gross ...
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ArticleShoe Carnival plans expansion after strongest results in 43 years
Shoe Carnival’s operating income soared by 164 percent to $27.9 million in the fourth quarter ended on Jan. 29 from $10.6 million a year earlier. Net income was $20.6 million against $7.4 million. Revenues jumped by 23 percent to $313.4 million from $253.9 million as the U.S. retail chain closed ...
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ArticleYue Yuen turns around despite a volatile operating environment
The annual net income of the world’s largest maker of athletic, casual and outdoor footwear hit $115.1 million in 2021 against a loss of $90.8 million in the prior year. Yue Yuen (YY) made an operating profit (Ebit) of $175.4 million for the year against an operating loss of $51.4 ...
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ArticlePrada full-year profits above pre-pandemic levels
Prada posted a net profit of €294 million in 2021, up from a €54 million loss last year and above a €256 million profit in 2019, before the outbreak of the Covid-19 pandemic. The bottom line also largely exceeded the consensus of analysts’ forecasts set at €253 million. Full-year revenues ...
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ArticleInditex’s sales return above pre-pandemic levels
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, posted a 35.8 percent year-on-year increase in revenues to €27.72 billion in the full year ended January 31. In local currencies, the top line was 3 percent higher than in 2019, before the ...
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ArticleTod’s swung into an operating profit in 2021
Tod’s beat market expectations with its 2021 earnings and expressed optimism for the current year. Nevertheless, for the third year in a row, the Italian shoe maker decided to omit paying a dividend on is full-year results. The company posted earnings before interest and taxes (Ebit) of €24.2 million in ...
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ArticleBoohoo's sales slow down in Q4
The British online fashion retailer Boohoo confirmed that full-year earnings will be in line with its reduced guidance after reporting a slowdown in revenue growth in the fourth quarter. The group issued a profit warning last December, citing higher product return rates, disruption to international deliveries and higher inbound freight ...
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ArticleSchuh Group posts strong sales growth
In the fourth quarter ended Jan. 29, Schuh Group, an operating unit of the U.S.-based Genesco, posted an operating profit of $9.8 million against an operating loss of $3.6 million. Total sales at the 123-door, U.K.-based retailer rose nearly 33 percent to $129.0 million from $97.0 million as digital penetration ...
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ArticleVulcabras continues to shrink in women’s shoes
Vulcabras’ net income rose by 49 percent to 81.3 million Brazilian reais (€14.6m) in the fourth quarter of 2021. Operating earnings (Ebit) went up by 58 percent to R$89.3 million (€16.1m) in the period ended Dec. 31, as the gross margin hit 36.1 percent versus 32.7 percent a year earlier ...
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ArticleFerragamo is back in black
Salvatore Ferragamo swung into a profit in 2021 as it recovered from the loss caused in 2020 by the Covid-19 pandemic but the company did not provide a guidance for the current year due to an “unpredictable” outlook. The broker Equita noted that the company, which had already released its ...
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ArticleWeyco posts strong quarterly results
Weyco Group’s net income soared by 103 percent to $10.34 million from $5.1 million in the fourth quarter ended Dec. 31. Operating earnings rose by 62 percent to $12.78 million from $7.9 million, but the year-over-year operating margin slipped slightly to 12.6 percent from 12.8 percent. Total revenues stepped 64 ...
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ArticleRocky Brands targets savings as Q4 net sales soar
U.S. footwear company Rocky Brands said it is targeting cost savings and synergies after integrating Honeywell International’s performance and lifestyle footwear business last year as it reported a 93.4 percent surge in fourth-quarter net sales. The company, which called the $230m acquisition “transformational”, said sales for the three months to ...
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ArticleZalando releases a disappointing 2022 guidance
Zalando posted better-than-expected sales in 2021 but released a disappointed guidance for 2022, which prompted the company’s share price to drop nearly 10 percent on the day. In the full year ended Dec. 31, the German online fashion retailer posted a 29.7 percent increase in revenues to €10.35 billion, compared ...
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ArticleFarfetch profitability improves on lower markdowns
Farfetch posted a strong improvement in its gross operating profit thanks to a reduction in markdowns. In a conference call, José Neves, the company’s founder and chief executive, said that out of the 10 brands on its marketplace “five now follow a full-price strategy for their e-concessions” while the retailer’s ...
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ArticleSteve Madden eyes DTC, Europe and apparel for more growth
Steve Madden reported a net income of $66.0 million in the fourth quarter against $22.6 million a year earlier. On adjusted basis, the bottom line grew to $70.4 million from $21.8 million. Total revenues rose by 65 percent to $575.1 million for the quarter ended Dec. 31. Sales highlights included ...
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ArticleGeox starts 2022 strongly but Ukraine conflict casts shadow
Geox said it has started 2022 strongly, but highlighted uncertainty about the potential impact of the conflict in Ukraine on its results. The Italian footwear company could not currently quantify the impact of the conflict and economic sanctions against Russia on its performance. In 2021, the company achieved €51 million ...
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ArticleGrendene’s export business shines in challenging year
Grendene, despite facing persistent supply chain challenges and an uneven recovery around the globe from the Covid-19 pandemic, generated strong export sales gains in the fourth quarter and in 2021. Strong recoveries in the European and in Latin American markets contributed to the improvement. The Brazilian footwear maker, whose portfolio ...
