All Financial results articles – Page 56
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News briefsLVMH fashion and leather goods sales surge in Q4
Organic sales of the fashion and leathergoods division of the French luxury goods conglomerate LVMH rose by 18 percent in the fourth quarter, reducing the full-year decline to 3 percent. On a reported basis, full-year sales for the division were down by 5 percent to €21.207 billion due to the ...
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News briefs
H&M sales decline accelerates amid new store closures
Hennes & Mauritz (H&M) saw net sales decrease by 23 percent year-on-year in local currencies in the period running from Dec. 1 to Jan. 27, up from the 10 percent decline seen in the fourth quarter ending Nov. 30, as its top line was hit by new temporary store closures ...
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Article
Lloyd’s sales plummet in 2020, company launches sustainable product line
The German shoe maker Lloyd Shoes posted a 35 to 38 percent drop in revenues last year as growth in online sales failed to compensate for the losses in brick-and-mortar stores, which suffered from coronavirus-related lockdowns. As the current lockdown in Germany is set to continue at least until Feb. ...
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ArticleEurope helps drive VF’s momentum
After posting a loss for the first quarter of its financial year, VF Corp. bounced back in the second quarter, and the third fiscal quarter ended Dec. 31 confirmed this recovery, driven by Europe and China. The good progress, which was attributed to in part to investments made in previous ...
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ArticleTod’s to restructure its debt with €500m ESG-linked financing
Tod’s will repay all existing medium-term loans and cancel a revolving credit facility (RCF) after having signed a €500 million credit agreement with a pool of banks led by Intesa Sanpaolo. The new five-year sustainability-linked loan is composed of a €250 million term facility and a new €250 million RCF. ...
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News briefsRecord sales for Polygiene
In a business update, Polygiene said its sales for the fourth quarter soared by 41.4 percent to a record 26.9 million Swedish kronor (€2.7m-$3.2m) in the fourth quarter of 2020. The company added that Addmaster, its newly acquired British subsidiary, had even stronger growth. Sales to Polygiene excluded, Addmaster’s revenues ...
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News briefsSchuh reports strong holiday comparable sales
Genesco said that comparable sales, including both stores and direct sales, fell by 3 percent during the eight weeks ended Dec. 26, 2020. Same-store sales decreased by 14 percent, while e-commerce revenues surged by 49 percent on a comparable basis during the period. Comparable sales results exclude periods of time ...
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Article
Stella’s revenues down by 19% in Q4
Stella International continued to struggle in the fourth quarter, ending a difficult year for the Chinese footwear company. Shipment volumes for the last three months of 2020 were down by 21.7 percent from the year-ago quarter to 10.8 million pairs, while total revenues plunged by 18.9 percent to $280.1 million, ...
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News briefs
Yue Yuen’s manufacturing revenues fall by 27%
Yue Yuen’s revenues from footwear manufacturing fell by 27 percent in terms of U.S. dollars in 2020, including a drop of 16 percent in December. The group’s retail subsidiary, Pou Sheng, improved its sales by 1 percent thanks to a strong finish of the year, with sales up by 11 ...
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ArticlePrimark loses £540m in sales in 4 months due to Covid
The Irish clothing retailer Primark suffered a loss of sales of £540 million (€608m-$739m) in the 16 weeks to Jan. 2 due to store closures deriving from lockdowns in various European countries to combat the spread of the Covid-19 pandemic. Primark posted sales of £2,031 million (€2,288m-$2,778m) in the period, ...
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ArticleBoohoo lifts revenue guidance as Christmas sales soar
The fast fashion online retailer Boohoo has raised revenue forecasts after a better-than-expected 40 percent surge in pre-Christmas sales. The owner of Nasty Gal, Karen Millen, Oasis and Warehouse now expects revenue to increase by 36-38 percent in the year to Feb. 28, up from an earlier guidance of 28-32 ...
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News briefsAsos upbeat about profits but warns about Brexit costs
The fashion online retailer Asos indicated that its full-year profit will be at the top end of market expectations but warned that it faces £15 million (€16.8m-$20.5m) in Brexit tariff costs. Sales jumped by 23 percent to £1.36 billion (€1.53bn-$1.86bn) in the four months to Dec. 31, with a 36 ...
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News briefs
Crocs guides for 20-25% growth in 2021
Crocs’ management told investment analysts at the ICR Conference that it is expecting to report a sales increase of more than 12 percent for the 2020 financial year, up from a previous guidance of 5 to 7 percent. In the fourth quarter alone, the growth rate reached a level of ...
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ArticlePrada’s December retail sales return to 2019 levels
Prada Group’s retail sales returned to last year’s levels in December and the Italian luxury goods firm is generating operating profits again. The company noted that despite ongoing store closures caused by Covid-19 related lockdowns, which averaged 9 percent of its network during the second half of 2020, it has ...
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ArticleNext sees full price sales returning to 2019/2020 levels this year
Next, the British retailer of clothing, footwear and home products, anticipates a strong rebound in profits in the financial year ending in January 2022, as full price sales return to the levels posted in the financial year that finished in January 2020. The company reported that full price sales in ...
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Article
Vivarte’s full-year sales down by 26%
Vivarte, the French retailer that sold its former flagship La Halle in July to Groupe Beaumanoir, recorded sales for the fiscal year ended in August of €256.6 million, a 26 percent drop from the previous year on a comparable basis. Since the arrival of Patrick Puy at the head of ...
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ArticleNice Footwear books €12 million in orders for spring/summer collection
The Italian footwear company Nice Footwear has booked orders representing a value of more than €12 million for the spring/summer season and expects to finish the full year, ending on April 30, 2021, with sales of more than €20 million. In the previous financial year, the top line totalled €23.5 ...
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News briefs
H&M sales resume decline from end Oct due to Covid resurgence
In the fourth quarter running from Sept. 1 to Nov. 30, Hennes & Mauritz (H&M) saw net sales decrease by 10 percent year-on-year in local currencies. For the whole financial year, net sales declined by 18 percent in local currencies due to the impact of the Covid-19 pandemic, according to ...
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ArticleInditex posts better-than-expected Q3 results
In the third quarter running from Aug. 1 to Oct. 31, Inditex, the Spanish group that owns the brands Zara, Pull Bear, Massimo Dutti , Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, posted sales of €6.1 billion, down by 14 percent year-on-year following a contraction of 31 percent in the ...
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ArticleDesigner Brands expects to struggle well into 2021
The American shoe retailer Designer Brands, formerly known as DSW, believes that the Covid-19 pandemic will continue to have a significant impact on its business next year and does not expect significant improvement until late spring 2021 or even the next back-to-school season. While releasing results for the third quarter, ...
