All Financial results articles – Page 54
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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 ...
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News briefs
H&M sales up 10% in March 1-13
Hennes & Mauritz (H&M) posted a 10 percent year-on-year increase in net sales in local currencies in the March 1-13 period, as Germany, the retailer’s largest market, and other countries began allowing stores to reopen as Covid-19 restrictions eased. H&M had about 900 stores temporarily closed on March 13, down ...
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ArticleGenesco sees supply chain disruption easing this summer
Congestion in maritime shipping, due to the lack of containers, is causing four to six weeks in delays in footwear deliveries. But, the situation is expected to improve and the supply chain to be “in much better shape” in summer, when the back-to-school season kicks off, according to Mimi Vaughn, ...
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News briefsFerragamo enjoys strong growth in China, South Korea
In the first nine weeks of 2021, Salvatore Ferragamo said that it enjoyed a “positive performance” in the retail channel, thanks to “solid” growth in China and South Korea and an 85.6 percent increase in online sales. The update accompanied the group’s 2020 results, that showed a net loss of ...
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ArticleBogs keeps momentum going
Even with low precipitation in November and December across the U.S., demand for Bogs, a footwear brand best known for its waterproof boots, remained strong in the fourth quarter, as consumers continue to spend more time outside during the pandemic. It continued to diversify its product mix, selling more lightly ...
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ArticleInditex posts a first-ever decline in floor space
Inditex, the Spanish group that owns the brands Zara, Pull Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, experienced its first ever decline in floor space in the full year that ended on Jan. 31. The Spanish group had 6,829 stores at the end of the fiscal year ...
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ArticlePrada returned to pre-Covid profitability in H2
Thanks to cost containment measures and a rebound in sales, Prada returned to pre-Covid-19 profitability levels in the second half of 2020. The recovery, however, was not sufficient to post a net profit for the full year, which was compromised by the decline in activity suffered in the first half ...
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ArticleVulcabras’ sales rise nearly 23% in Q4
Vulcabras posted double-digit growth in the last three months of the year, despite the impact of the pandemic on the shoe market in Brazil. Revenues rose by 22.8 percent from the year-ago quarter to 459.1 million Brazilian reais (€66.7m-$79.4m) and net income jumped by 21.1 percent to R$54.6 million (€7.9m-$9.4m). ...
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ArticleShoe Zone warns on profits
Shoe Zone has warned that profits are unlikely to return to pre-Covid pandemic levels for the “foreseeable future,” after it swung to a full-year loss, citing the impact of store closures during lockdowns. The company said revenues for the year to Oct. 3, 2020 slumped by 24 percent to £122.6 ...
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ArticleBasicNet makes a small profit despite a 15% drop in revenues
BasicNet managed to post a small net profit for the 2010 financial year, in spite of the impact from the Covid-19 pandemic, leading the board of directors to propose the distribution of a small annual dividend of €0.06 per share. Noting that the flexibility of its business model has softened ...
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ArticleGrendene bounces back to post record sales
For the second consecutive quarter, Grendene posted record sales as the company recovered from a dismal second quarter thanks to strong domestic demand. The Brazilian footwear manufacturer posted a 29.5 percent increase in gross revenues to 1,029.4 million reais (€152.1m-$181.5m) in the fourth quarter, with domestic sales up by 40.8 ...
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ArticleFarfetch achieves its first quarterly adjusted operating profit
Farfetch posted its first quarterly positive adjusted operating profit, but its net losses increased dramatically due to some $2.1 billion in non-cash adjustments. The company expects to finish 2021 with an adjusted operating profit. In the fourth quarter, the British fashion e-tailer saw gross merchandise value (GMV) increase by 42.8 ...
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ArticleSteve Madden returns to a quarterly profit
Steve Madden returned to a profit in the fourth quarter as its results improve after the slump caused by the Covid-19 pandemic. The American designer of footwear, accessories and apparel posted a 15.9 percent year-on-year decline in revenues to $353.0 million but the gross margin increased to 38.3 percent from ...
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News briefs
Rexor stays profitable in 2020
Rexor, the German buying group controlled by ANWR, recorded a 19 percent decrease in centralized settlement revenues in 2020 due to the impact of the Covid-19 pandemic. In Germany, Rexor managed to limit the decline to 9.6 percent thanks to new memberships. Currently, 509 companies are part of Rexor’s network. ...
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ArticleWolverine posts weak results but is hopeful for 2021
The year 2020 was a difficult one for Wolverine Worldwide. Looking on the bright side, the management said it delivered better-than-expected results for the fourth quarter and is poised to drive an accelerated recovery over the next 12 to 16 months. The group posted a double-digit sales decline in the ...
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ArticleRocky Brands ends 2020 with strong profits
Rocky Brands’ net income surged by 91.1 percent in the fourth quarter to $9.7 million, which includes $0.7 million related to the pending acquisition of the performance and lifestyle footwear business of the U.S. conglomerate Honeywell International for $230 million. The deal is expected to close by the end of ...
