All Financial results articles – Page 48
-
ArticleBoohoo warns returns, weak U.S. sales are hitting profits
The British fast-fashion retailer Boohoo issued a profit warning on its full-year profits because of higher returns in the U.K. and a weaker-than-expected performance in the U.S. The company now expects a net sales growth of 12-14 percent, down from a previous growth guidance of 20-25 percent, for the year ...
-
News briefs
H&M returns to pre-Covid levels
In the fourth quarter ended Nov. 30, the Swedish fashion retailer H&M posted fourth quarter-revenues of SEK 56.813 billion (€5.53bn-$6.22bn), up by 8 percent from a year ago, while in the full year the top line was up by 6 percent to SEK 198.967 billion (€19.38bn-$21.79bn). In local currencies, fourth-quarter ...
-
Article
Inditex posts record Q3 results
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, posted revenues of €19.33 billion in the first nine months to Oct. 31, up by 37 percent from a year earlier, and a gross margin of 59 percent after posting record-breaking third-quarter results. ...
-
News briefs
Rizzo makes offer to creditors
Rizzo Group has made an offer to its creditors to avoid bankruptcy. The Swedish retailer’s composition offer, which also applies for its subsidiary Rizzo International, involves the entire payment of unsecured debt up to SEK 2,000 (€195-$220) and 25 percent of any excess amount. The company has been in corporate ...
-
ArticleDesigner Brands posts strong quarterly sales
In the third quarter ended Oct. 30, Designer Brands posted sales of $853.5 million, up by 30.7 percent from a year earlier. Comparable sales increased by 40.8 percent. Sales of the group’s U.S. retail segment rose to $709.6 million from $501.9 million a year earlier, with women’s footwear revenues increasing ...
-
News briefs
Kingmaker posts a negative gross margin due to Covid
The mandatory payment of minimum wages to factory workers idled by the Covid pandemic caused Kingmaker to post a negative gross margin for the first half of its fiscal year ended Sept. 30, leading it to report a net loss of 15.5 million Hong Kong dollars (€1.8m-$2.0m) compared with a ...
-
ArticleDr. Martens posts stronger H1 results, but warns about U.S. shipping delays
Dr. Martens posted a 46 percent rise in interim profits, driven by a recovery in store sales as they reopened after Covid lockdowns, but the company warned that shipping delays in its U.S. business would continue into the next fiscal year. Pre-tax profit for the six months to Sept. 30 ...
-
ArticleGenesco sees supply chain problems lasting most of next year
Genesco’s operating margins have been hit by higher freight costs and it believes that supply chain disruptions will probably continue for most of next year. The strain on deliveries has helped reduce promotional activity but has also led to a depletion in inventories. During a conference call on the company’s ...
-
ArticleAllbirds' Q3 sales rise 33% but loss nearly doubles
Reporting its first quarterly results as a public company, Allbirds said its revenues grew by 33 percent to $62.7 million in the three months ended Sept. 30, as compared to the same period a year ago, driven by a 42 percent increase in the U.S. to $47.7 million. Sales in ...
-
ArticleShoe Carnival to resume increasing store network in 2022
With the release of its best quarterly results in its 43-year history, Shoe Carnival announced plans to accelerate the refurbishing of its stores and to resume increasing the network from 2022. Ultimately, the U.S. footwear retailer wants to become a “multibillion-dollar” corporation in “the years ahead.” In the current full ...
-
ArticleFarfetch’s Q3, outlook disappoint
Farfetch posted results below expectations in the third quarter and cut its full-year guidance prompting its share price to fall by nearly 14 percent on the day. The British online fashion retailer posted a 28 percent year-on-year increase in gross merchandise value (GMV) to $1.017billion. GMV generated by the digital ...
-
News briefs
Shoepassion sales above pre-Covid levels
The Berlin-based footwear company Shoepassion said that in the third quarter overall sales were above pre-Covid-19 levels for the first time since the outbreak of the pandemic last year thanks to its e-commerce business. It noted that online sales were growing at double-digit rates compared with 2019, with August up ...
-
ArticleCaleres raises earnings outlook as Famous Footwear shows ‘exceptional upward momentum’
Caleres raised its earnings guidance for its full financial year, after reporting a record bottom line in the third quarter ended Oct. 30 as the Famous Footwear retail chain saw “continued, exceptional upward momentum” and recovery at the Brand Portfolio business progressed despite headwinds from higher freight costs. Caleres reported ...
-
ArticleAlibaba cuts 2022 guidance after Q2 earning, revenue miss
Alibaba cut its guidance for the full year after revenues and earnings in its second quarter ended Sept. 30 came in below expectations amid a slowdown in economic growth in China and an ongoing regulatory crackdown on tech companies in the country. Alibaba now expects revenues to grow between 20 ...
-
News briefs
Prada sees sales rising to €4.5bn in the medium term
The Italian fashion house Prada expects to achieve revenues of about €4,500 million in the medium term with an Ebit margin of around 20 percent, while doubling online’s share of retail revenues to 15 percent of the total. In 2020, Prada posted overall revenues of €2,423 million and retail sales ...
-
News briefs
Roberto Cavalli sees 2021 sales at €60m
Roberto Cavalli posted revenues of about €46 million in 2020 and expects to see the top line rise to about €60 million this year before reaching €80 million in 2022, when the Italian fashion house also expects to reach breakeven. The company said that its future development will depend on ...
-
Article
Manolo Blahnik launches virtual museum
Half a century after opening his first boutique in Old Church Street, in Chelsea, London, Spanish footwear designer Manolo Blahnik is making the concepts behind his legendary stilettos, sandals, moccasins and boots available to anyone, anywhere, via his brand-new, technologically state-of-the-art virtual museum, which launches on Nov. 18, 2021. Conceived ...
-
Article
Kurt Geiger extends financing facilities to 2024
On June 10, Kurt Geiger extended the terms of its bank loan, capital investment and revolving facilities to Feb. 19, 2024, according to the company’s financial statements filed with the British registrar of companies, Companies House. As part of the arrangement, covenants were rebased to take into account the impact ...
-
News briefs
Pollini sales rise sharply
In the first nine months of 2021, Pollini, a footwear brand owned by the Italian fashion house Aeffe, posted sales of €21.6 million, up by 26.9 percent from a year earlier and representing 8.6 percent of Aeffe’s total revenues. Over the period, Aeffe’s sales totaled €250.0 million, up by 20.9 ...
-
ArticleYue Yuen’s growth stopped in Q3
Yue Yuen reported a 3.2 percent increase in revenues from footwear manufacturing for the first nine months of 2021 on roughly flat deliveries of 179.0 million pairs. Revenues went up to $3,301 million because of an increase in the average price of 3.1 percent to $18.43 per pair, thanks to ...
