All Financial results articles – Page 58
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ArticleGrendene recovers sharply in Q3 driven by domestic market
Grendene posted the best third quarter in its history in terms of gross revenues, and the third best in volumes, as the company recovered, thanks to domestic demand, from a dismal second-quarter performance, caused by the Covid-19 pandemic. The Brazilian footwear manufacturer posted a 9.5 percent increase in gross revenues ...
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News briefsLiu Jo footwear unit sees 2020 sales up 30%
Eli, the company that manages the footwear of the Italian apparel brand Liu Jo, expects to close 2020 with sales of €44 million, up more than 30 percent from 2019, according to Fashionmagazine.it. The company, which opened a new showroom in Milan in September, benefited from a more than 30 ...
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ArticleStuart Weitzman’s sales improve from the previous quarter
In the fiscal first quarter ended on Sept. 26, Stuart Weitzman posted net sales of $56 million, down by 35 percent from $87 million in the same period of the prior year. Nevertheless, sales exceeded the company’s expectations and marked a sharp improvement from the previous quarter, when they stood ...
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ArticleSteve Madden to boost private label business, cut Chinese production
Steve Madden expects that its private label business with Walmart and Target will increase notably next year as the mass retailers have shown strong resilience and benefited from the market disruption caused by the Covid-19 pandemic. Last year, Walmart and Target represented nearly a third of the fashion company’s accounts ...
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ArticleSequential quarterly improvements for Skechers
While Skechers’ third-quarter sales decreased by 3.9 percent year-on-year and net earnings dropped by 37.6 percent to $64.3 million, it was a significant improvement from the second quarter, when sales where 78.3 percent lower and the company ended with a net loss of $68.1 million. The pandemic significantly impacted Skechers ...
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Article
Puma returns to profit and growth
Puma’s revenues for the third quarter rose by 13.3 percent in constant currencies to €1,583, leading to a 13.0 percent rise in net income to €100.5 million. This is in sharp contrast with the second quarter, when the company was hit by a 32.3 percent drop in revenues and ended ...
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ArticleShoe Zone threatens to close 90 stores due to U.K. tax
Shoe Zone could close up to 90 stores over the next couple of years if the British government goes ahead with plans to reintroduce the “antiquated business rates system” in April 2021. The British shoe retailer said that the suspension of rates in April 2020 by the government to help ...
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ArticleRocky Brands’ Q3 profits up by 36%
As the wholesale channel bounced back after a decline in the second quarter, Rocky Brands’ net income rose by 36.0 percent to $7.6 million in the third quarter, on revenues that progressed by 15.8 percent from the year-ago quarter to $77.8 million. The management highlighted strong demand for its product ...
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ArticleRecord Q3 revenues for Crocs
Thanks to ”exceptional consumer demand and strong sell throughs,” Crocs saw its third-quarter revenues jump by 15.7 percent from the year-ago quarter to a record $361.7 million. In constant currencies they gained 15.9 percent. The company recorded growth in all channels and geographies. It also saw record sales in e-commerce, ...
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ArticleVF returns profitable in Q2
After recording a loss and steep declines in revenues during its first fiscal quarter, VF Corp. , whose core brands are Vans, The North Face and Timberland, bounced back in the second quarter, ended on Sept. 26, with a smaller decline in sales and a return to profits. The management ...
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News briefsLVMH’s Fashion & Leather Goods division grows in Q3
LVMH’s nine-month revenues fell by 21 percent to € 30,348 million, with organic sales also declining by 21 percent, due to the impact of the Covid-19 pandemic. In the sole third quarter, revenues were down by only 7 percent on an organic basis thanks to a return to growth in ...
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ArticleAsos to focus more on activewear
Fashion e-tailer Asos will expand its activewear offering as locked-down clients spurned party outfits in favor of sportswear and exercise gear during the Covid-19 pandemic, helping the company to almost quadruple full-year profits. The company said grabbing a greater share of the “huge” sportswear market along with beauty products is ...
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ArticleStockX sees ‘remarkable’ growth in Q3
StockX, the online resale exchange for sneakers and streetwear, counted 25 million global monthly visitors to its platform in the third quarter and “continues to grow at a remarkable rate” as the resale market expands globally. In a third-quarter snapshot looking at its international performance, StockX noted that sell-side transactions ...
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News briefsZalando raises full-year guidance on strong Q3 performance
Zalando has raised its outlook for the full year after “exceptionally strong and profitable growth” in the third quarter. The German online retailer now expects gross merchandise volume (GMV) to grow by 25-27 percent, revenues to increase by 20-22 percent and adjusted Ebit to reach €375-425 million in the full ...
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ArticleCCC focuses on Central and Eastern Europe
Online sales were the main driver of growth in the latest quarter for CCC, the international Polish-based shoe manufacturer and retailer, and the company continues to invest heavily to develop its e-commerce infrastructure. Meanwhile, the company is letting go of unprofitable parts of the business in Western Europe, and has ...
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ArticlePittards sees more opportunity than risk in the “new normal”
Despite losing nearly half its sales and posting a net loss in the first half six months of the year, Pittards sees “more opportunity than risk in the new normal that is emerging.” The British leather and leathergoods manufacturer, which owns the brand Daines & Hathaway, suffered a 45 percent ...
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ArticleH&M expects 250 net store closures in 2021
Hennes & Mauritz (H&M) expects a net decrease of about 250 stores in 2021, as the Swedish retailer faces growing pressure to sell online. It highlighted that rapid changes in customer behavior have been further accelerated by the Covid-19 pandemic. Therefore, it is stepping up the pace of its transformation ...
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ArticleBoohoo raises FY guidance on H1 results
The British online fashion group Boohoo has raised full-year forecasts after a better-than-expected 51 percent rise in first-half pre-tax profits to £68.1 million (€74.6m - $87.4m). Sales for the six months to Aug. 30 rose by 45 percent to £816 million (€894.6m - $1.04bn). The company benefited from being able ...
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ArticleObuv Rossii’s August sales rebound sharply
Obuv Rossii has enjoyed a strong rebound in sales. In August, the company’s revenues increased by 1.5 times compared to July and exceeded 1 billion rubles (€13.3m -$11.2m), achieving the highest monthly level this year. Its top line exceeded by 16 percent the average monthly revenues seen in the first ...
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ArticleInditex returns to profit in Q2
Inditex , the Spanish group that owns the brands Zara, Pull Bear, Massimo Dutti , Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, returned to a net profit of €214 million in the second quarter ended on July 31 compared with a 409 million loss in the first quarter. Financial analysts ...
