All Financial results articles – Page 59
-
News briefs
Ferragamo posts €86 million net loss in H1
Salvatore Ferragamo posted a net loss of €86 million in the first half of 2020, down from a profit of €60 million a year earlier due to the impact of the Covid-19 pandemic. As previously reported, sales amounted to €377 million, declining by 46.6 percent year-on-year on a reported basis ...
-
News briefsCrocs sees Q3 sales up by 10%
Crocs expects third-quarter revenues to rise by about 10 percent compared to $312.8 million in the third quarter of 2019 thanks to ”exceptional consumer demand and strong sell throughs,” said Andrew Rees, president and chief executive officer. “We expect revenue growth of approximately 10% in the third quarter and anticipate ...
-
ArticleANWR footwear revenues drop 19% in first seven months of the year
In the first seven months of this year, the total business volume of the ANWR Group went up by 53 percent to €10.2 billion, driven by a 76 percent increase to €8.6 billion in financial services, but the buying groups of ANWR suffered a 10.7 percent decrease in their own ...
-
ArticleTod’s posts operating loss in H1, low visibility on future trend
The Italian shoe maker Tod’s posted operating losses in the first half of 2020 due to the impact of lockdown and travel restrictions adopted to tackle the spread of the Covid-19 pandemic. It signaled that the start of the third quarter was better than the trend seen in the previous ...
-
ArticleDesigner Brands sees challenging H2 as Q2 sales fall by 42.8%
The American shoe retailer Designer Brands, formerly known as DSW, expects the Covid-19 pandemic will continue to have a significant impact on its business in the second half of 2020, with a double-digit decline in sales likely and a return to profitability seen as “challenging.” As consumer preference shifts from ...
-
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.
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
