All Financial results articles – Page 51
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News briefs
Hermès’ leathergoods sales up by 18% in Q1
The revenues of the French luxury goods group Hermès totaled €2,084 million in the first quarter, an increase of 44 percent year-on-year at constant exchange rates and 38 percent at current rates driven by Asia. The organic revenue growth was 33 percent. At constant currency rates, sales in Asia, excluding ...
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ArticleSkechers is boosted by international wholesale and digital
Lifted by robust international demand, Skechers’ revenues jumped by 15.0 percent in the first quarter to a record level of $1,428.4 million, as compared to a year ago. Sales outside of the U.S. soared by 20.2 percent to represent 58 percent of the total turnover. In particular, the International Wholesale ...
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News briefsKering Q1 comparable sales up 25.8%
Kering’s revenues rose by 21.4 percent year-over-year in the first quarter to €3,890 million, with comparable sales up by 25.8 percent driven by Asia-Pacific and North America. The top line grew by 5.5 percent at constant exchange rates against the first quarter of 2019. Comparable revenues generated by the group’s ...
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ArticleSequential Brands cannot comply with its covenants
Sequential Brands, a U.S. group that has a portfolio of consumer brands including Heelys, Avia and DVS, said that it is not expected to be able to comply over the next twelve months with certain of its financial covenants. It noted that if it fails to comply with the covenants ...
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News briefs
JD Sports Fashion posts resilient results
JD Sports Fashion Plc managed to report generally good results for the year ended Jan. 30, 2021 despite the impact from the coronavirus pandemic and Brexit, “which have severely tested all aspects of the business,” the management said. The company’s profit before exceptional items and taxes of 421.3 million pounds ...
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News briefs
Big monthly sales jump for Yue Yuen
Yue Yuen Industrial Corp. reported a 30 percent jump in total revenues to $870.9 million for the month of March as compared to a year ago, when the novel coronavirus pandemic shut down its manufacturing and retail operations in China. Revenues from manufacturing and retailing were up by 12 percent ...
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News briefs
LVMH fashion and leather goods sales surge in Q1
Organic sales of the fashion and leathergoods division of the French luxury goods conglomerate LVMH rose by 52 percent in the first quarter. On a reported basis, quarterly sales for the division were up by 45 percent to a record €6.738 billion. The group as a whole posted revenues of ...
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ArticleAsos posts record profits on lockdown shopping boom
In the first half ended Feb. 28, the British online retailer Asos more than tripled pre-tax profits to a record £106.4 million (€122.8m-$145.8m) and raised full-year expectations as it continues to benefit from the Covid-19 pandemic. While the switch to online shopping during lockdowns boosted trading, Asos was cautious over ...
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Article
Daphne International cuts its net loss as it changes business model
The women’s footwear company Daphne International Holdings ended 2020 with a 77 percent reduction of its net loss to 242.0 million Hong Kong dollars (€26.5m-$31.1m) as an 83 percent drop in revenues to HK$ 363.9 million (€39.9m-$46.8m) resulted in a sharp fall in selling and distribution expenses as well as ...
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ArticleH&M March sales up by 55%
In the period from March 1-28, Hennes & Mauritz (H&M)’s net sales increased by 55 percent in local currencies, recovering from a 21 percent decline in the first quarter that ended Feb. 28. On a reported basis, the Swedish fashion and accessories retailer H&M booked first-quarter net sales of 40,060 ...
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ArticleRecord sales and earnings for Shoe Carnival
Shoe Carnival had its best fourth quarter ever, with revenues reaching $253.9 million in the three months ended Jan. 30, 2021, a 5.8 percent increase from the year-ago quarter. Comparable-store sales increased by 6.4 percent. The American shoe retailer improved its gross margin by 1.7 percentage points to 30.8 percent. ...
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News briefs
Liu Jo’s footwear sales reach €45 million
Eli, the company that manages the footwear of the Italian apparel brand Liu Jo, posted sales of €45 million in 2020, up by 33 percent from 2019. Fifty-five percent of the top line was achieved outside Italy, driven by strong growth in Russia, Belgium, Germany and Eastern Europe. In 2021, ...
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ArticlePittards posts operating profit in H2
Pittards, the British leather and leathergoods manufacturer, which owns the brand Daines & Hathaway, posted a positive Ebitda of £0.3 million (€0.35m-$0.41m) in the second half of 2020, albeit down from £0.9 million (€1.0m-$1.2m) a year earlier. For the whole of 2020, the company posted a negative Ebitda of £1.1 ...
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ArticleYue Yuen posts losses despite retail rebound
Although China is resisting the pandemic much better than other markets, Yue Yen Industrial Holdings ended 2020 in the red, hampered by the global decline in the demand for shoes, especially in the casual segment. The company was strongly impacted by government measures to contain the spread of the disease ...
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News briefs
Aeffe posts a €21.4m net loss
In 2020, Aeffe, the Italian fashion house that owns Pollini and other brands, posted a net loss of €21.4 million against a net profit of €11.7 million a year earlier due to the impact of the Covid-19 pandemic. The adjusted net loss, which excludes non-recurring costs of €5.1 million, was ...
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News briefsTempe’s sales fell to below €1 billion in 2020
Last year, for the first time since 2014, Tempe posted annual sales of less than €1 billion due to the impact of the Covid-19 pandemic. The company booked revenues of €997 million, down by 28.7 percent from 2019, and a net profit of €62 million. The gross margin widened to ...
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News briefs
Casadei suffers 30% sales decline in 2020
Casadei, the Italian luxury shoe maker, saw its sales decrease by about 30 percent in 2020 from the €29 million registered in 2019. Cesare Casadei, the company’s creative director, explained in an interview with financial daily Il Sole 24 Ore that the decline came despite growth in its online business, ...
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ArticleStella cautiously optimistic about first half of 2021
Stella International is “cautiously optimistic” about order levels for the upcoming spring and summer 2021 season, although it still has low visibility for the second half of the year due to the recent new Covid-driven lockdowns in many countries around the world. Steady volume growth and margin improvement will be ...
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ArticleCaleres cuts debt to below pre-Covid levels
Caleres posted lower sales and a net loss in the fourth quarter, but thanks to strong cash generation it continued to significantly deleverage its balance sheet, pushing debt below pre-pandemic levels. In the fourth quarter alone, it reduced credit facility borrowings by $50 million to $250 million, or $25 million ...
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ArticleDesigner Brands’ sales of athletic shoes rose sharply in Q4
Designer Brands improved its fourth-quarter sales from the previous three months as it continues to increase its exposure to athleisure and children’s footwear and develop its digital capabilities. The company has streamlined its offer to focus on the top 50 brands in the U.S. and top 30 in Canada. In ...
