All Financial results articles – Page 57
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ArticleGenesco sees back-to-school selling season prolonged, holiday season to start early
Genesco experienced a slowdown in its recovery in July because of an uptick in Covid-19 cases in the U.S. But it expects the back-to-school period to last until late September, or even later, and the holiday season, generally considered to run from late November to early January, to start earlier.
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ArticleShoe Carnival’s sales soar to record highs in Q2
After a difficult first quarter, Shoe Carnival recorded a strong rebound in sales in the second fiscal quarter ended Aug. 1, led by e-commerce. The American footwear retailer reported record revenues that were up by 12.1 percent year-on-year to $300.8 million, exceeding the previous record set in the third quarter ...
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ArticleObuv Rossii parent launches capital hike to finance its development
OR PJSC, the parent company of the Russian footwear group Obuv Rossii, is planning to place additional shares worth 2.8 billion rubles (€31.7m-$37.4m) to finance the group’s development. The company is offering 28,264,000 new ordinary shares, which corresponds to 24 percent of the previously placed ordinary shares. In 2017, OR ...
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ArticleStella posts $9 million loss in H1
Stella International posted a net loss of $9.3 million for the first half, against net income of $39.2 million last year, on revenues that dropped by 32 percent to $511.5 million. The gross margin fell by 1.4 percentage points to 16.6 percent, due to cancelled or delayed orders, as well ...
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ArticleAlibaba’s core domestic business returns to pre-Covid levels
The giant Chinese e-commerce company Alibaba said that its domestic core commerce business has ”fully recovered” to pre-Covid-19 levels during the first quarter ended on June 30. Revenues rose by 34 percent year-over-year to 153.8 billion yuan renmimbi (€18.8bn-$22.2bn) during the quarter, beating market expectations of RMB 148 billion. Annual ...
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ArticleYokono expects to slightly increase in full-year sales
Yokono, a Spanish footwear specializing in sandals, hopes to finish 2020 with a slight increase in sales despite a fall in revenues in the first half due to the impact of the coronavirus pandemic. Last year, the company, which is based in the footwear cluster of Elche, posted sales of ...
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ArticleYue Yuen posts a $136.7 million loss in H1
Yue Yen Industrial Holdings was hard hit by China’s measures to contain the spread of coronavirus. The world’s largest shoe manufacturer posted a net loss of $136.7 million for the first half of 2020, against net income of $165.9 million for the year-ago period. The company managed to reduce operating ...
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ArticleFarfetch’s Q2 GMV surges and beats the company guidance
The British fashion e-tailer Farfetch saw gross merchandise value (GMV) increase by 47.7 percent year-on-year in the second quarter to $721.3 million. GMV of its digital platform business rose by 34.4 percent to $651.0 million. Excluding the impact of changes in foreign exchange rates, the increase reached 39.2 percent. The ...
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ArticleGrendene’s sales tumble by 86% in Q2
The downward spiral continued in the second quarter for Grendene, whose sales tumbled by 85.8 percent to 82.1 million reais (€13.0m-$15.3m), following several quarters of declining sales. The Brazilian group, which owns brands such as Ipanema and Melissa, sold 4.3 million pairs during the period, or 25.8 million fewer than ...
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ArticleStuart Weitzman’s Q4 sales plummet to $33 million
In the fiscal fourth quarter ended on June 27, Stuart Weitzman posted net sales of $33 million, down from $85 million in the same period of the prior year, largely due to the impact of the Covid-19 pandemic. The brand, which is owned by the American group Tapestry, saw its ...
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News briefs
Asos to post higher-than-expected FY results thanks to demand, lower returns
The British online fashion retailer Asos said that its sales and profits for the full year ending in August are expected to be significantly ahead of market expectations, thanks to stronger-than-anticipated underlying demand and lower-than-forecast returns. Revenue growth is expected to reach 17-19 percent, with pretax profit in the region ...
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ArticleZalando benefits from the lockdown as Q2 sales, profits surge
Zalando ‘s net profit rose to €122.6 million in the second quarter from €45.5 million a year earlier as its client base expanded. The German online fashion retailer now serves 34.1 million active customers across Europe, up by 20.4 percent year-on-year. Gross merchandise volume (GMV) increased by 33.0 percent to ...
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News briefsAeffe’s leathergoods business H1 sales down by 21.4%
In the first half, Aeffe, the Italian fashion house that owns Pollini and other brands, suffered a decline in sales in its footwear and leathergoods division of 21.4 percent, both on a reported basis and in constant currencies, to €47.7 million due to the impact of the Covid-19 pandemic. The ...
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ArticleWeyco ends Q2 with loss, sales tumble by 72%
Weyco Group posted a net loss of $8.9 million in the second quarter, compared to net earnings of $1.5 million in last year’s corresponding quarter, on revenues that dropped by 72 percent to $16.7 million, hampered by store closures and lockdowns. During the past few months, the group adjusted its ...
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ArticleJimmy Choo Q1 sales down by 67.7%
Jimmy Choo posted a 67.7 percent year-on-year decline in sales to $51 million in the first quarter ended on June 27 due to the impact of the Covid-19 pandemic. The operating loss was $29 million compared to an operating income of $11 million a year ago, resulting in a negative ...
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ArticleAlpargatas thrives abroad amid challenging context
Despite the economic impact of the coronavirus pandemic, Alpargatas, the parent company of Havaianas and Osklen, managed to grow its revenues abroad in the second quarter. Overall sales declined by 19.6 percent to 680.5 million Brazilian reais (€108.6m-$128.6m), while the gross margin expanded by 2.1 percentage points to 53.0 percent. ...
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News briefsKering H1 revenues down by 30%
Revenues of the French luxury goods group Kering amounted to €5,378 million in the first half, down by 29.6 percent year-on-year on a reported basis and by 30.1 percent on comparable structure and exchange rates due to the impact of the Covid-19 pandemic. The recurring operating income fell by 57.7 ...
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ArticleGeox sees gradual recovery after H1 sales drop by 39.0%
Geox has reopened all its directly-operated stores (DOS) temporarily closed due to the Covid-19 pandemic and is seeing a gradual recovery in its performance after first half sales took a hit from store closures during lockdowns. Yet it cautions that uncertainties about the “still very much ongoing” pandemic make forecasts ...
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ArticleVF expects some improvement in the second fiscal quarter
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
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ArticleHoka’s momentum saves Deckers’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
