All Financial results articles – Page 60
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Article
Yue Yuen’s manufacturing revenues fall by 10%
Yue Yuen Industrial Holdings is warning investors that its results for the first quarter of 2020 will show a net loss of $50 million to $70 million, compared with a gain of $75 million in the year-ago period, because of the disruption of its supply chain and the lockdown of ...
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Article
Europe and e-commerce helped Wolverine in Q1
After posting record financial results in the fourth quarter of 2019, Wolverine Worldwide also fared relatively well in the first quarter ended on March 28, given the challenging conditions caused by Covid-19, thanks mainly to higher online sales, a strong performance in Europe and the Saucony brand.
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Article
Ecco goes more digital
The expansion of Ecco’s store portfolio growth slowed to the addition of only six extra shops, with 200 openings and 194 closures. On the other hand, investments in direct-to-consumer sales channels continued in 2019, with net sales from retail and e-commerce combined increasing by 10.9 percent. Revenues from online channels ...
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News briefs
Edcon’s liquidity sufficient only to pay wages
Edcon, a South African non-food retailer which offers clothing and footwear throughout Southern Africa, has only sufficient liquidity to pay wages after revenues and cash were 400 million rands (€19.5m-$21.1m) below its forecast in March. “As a result, Econ is unable to honour any other accounts payable during this period,” ...
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News briefs
Tod’s scraps dividend, chairmen waive 2020 pay
Because of the uncertainty surrounding the Covid-19 pandemic, Tod’s has decided to cancel its full-year dividend. The company had previously declared a dividend of €0.6 per share on its 2019 results. It still plans to spend 1 percent of net profit on solidarity projects. It added that its chairman, Diego ...
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News briefs
Tourism drought expected to reduce European luxury sales
LVMH said it expects revenues to drop by 10 to 20 percent year-on-year in the first quarter of 2020, as restrictions to combat the Covid-19 pandemic have forced the group to close production sites and stores in several countries. Separately, the bank RBC Europe said that overall global retail sales ...
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Short stops
Results short stops
+++ From July 2019 to February 2020, the first eight months of Pakistan’s fiscal year, the country’s leathergoods exports rose by 11.7 percent to $361.9 million +++
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Article
Zalando issues a profit warning, offers to help stores
Zalando has warned that its first-quarter results will not meet market expectations because of the impact of Covid-19. Meanwhile, the company is offering to waive commissions for participation in its Connected Retail program to German and Dutch retailers until May 31. The company will also postpone its annual general meeting, ...
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Article
Geox sees 20% drop in DOS sales during Q1
Geox expects sales of its directly-operated stores (DOS) to have declined by 20 percent in the first quarter because of the impact of Covid-19. In the 12 weeks to March 22, comparable sales for DOS dropped by nearly 15 percent because of store closures, first in Italy and then throughout ...
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News briefs
Stella International Holding's results
Stella International Holding posted consolidated revenues of $345.4 million in the final quarter of 2019, representing a 10.9 percent drop as compared to the same period in 2018. The Chinese group experienced an 8.6 percent decline to 13.8 million pairs in the volume of manufactured shoes, accompanied by a drop ...
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News briefs
Gabor Shoes' results
Gabor Shoes recorded total sales of €362 million in 2019, which represents another decrease in sales. The figure includes the company’s licenses, Gabor Shop & Store and Gabor Footwear. Gabor recorded total sales of €377 million in 2018 and the previous year achieved total sales of €383 million, which was ...
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News briefs
Schuhplus' results
Schuhplus, the German mail-order retail specialist for extra-large men’s and women’s shoes, has posted an increase of 34 percent in its operating result for 2019. It has not published detailed figures. In 2018, the German company recorded an increase of 25 percent and stated that it was the most successful ...
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News briefs
Caleres' results
Caleres’ preliminary fourth-quarter results show a dip of 3 percent in sales to $700 million, about $53 million short of analysts’ expectations. Its brands – Sam Edelman, Vionic, Via Spiga, Dr. Scholl’s and others – should generate revenues of about $346 million for the quarter, down by about 9 percent ...
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News briefs
Aeffe's results
In 2019, Aeffe’s revenues from footwear and leathergoods rose by 8.3 percent, both at current and constant exchange rates, to €128.2 million. The Italian fashion group, which owns Pollini and other brands, increased overall sales by 1.2 percent to €351.4 million. At constant currency rates, the top line was up ...
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Article
Wildberries’ sales nearly double
In 2019, Russia’s biggest online retailer, Wildberries, expanded its revenue by 88 percent as compared to the previous year to 223.5bn rubles (€3.22bn- $3.54), the company said in a statement. The growth accelerated in December, when the turnover was 96 percent higher than in December 2018, with its website was ...
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Article
VF lowers its outlook
In releasing its results for its third quarter ended on Dec. 28, VF Corporation said its business in the financial year so far has performed at the high end of its group’s long-term growth objectives, but the management admitted that it will not be able to meet the targets it ...
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Article
Disappointing results for Grendene
The last quarter was a difficult one for Grendene, with revenues and profits that did not match expectations. The Brazilian group – which owns brands such as Ipanema and Melissa – sold 49 million pairs during the period, or 6.6 million fewer than in the year-earlier quarter. Gross revenues ...
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Article
Stuart Weitzman continues to decline
Tapestry said that Stuart Weitzman’s sales fell by 7 percent to $116 million in the fiscal second quarter ended on Dec. 28. At constant currency rates, the decline narrowed to 6 percent. This came after declines of 9 and 8 percent for the footwear brand in the first quarter. ...
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Article
Jimmy Choo inches up
Jimmy Choo is not growing as fast as before. Its parent company, Capri Holdings, said that Jimmy Choo booked sales of $165 million in the fiscal third quarter ended on Dec. 28, up by 1.9 percent both in current and constant currency rates. On a currency-neutral basis, global comparable store ...
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Article
Record operating margin of 30.1% for Kering
Kering grew a little faster than LVMH in 2019, rising by 16.2 percent to €15.88 billion, with a growth of 13.3 percent on a comparable basis. The group’s operating income (Ebit) went up by 19.6 percent to €4.78 billion, resulting in a record margin of 30.1 percent and breaking the ...
