Financial Results
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ArticleCaleres maintains sales outlook as Brand Portfolio outperforms
Caleres maintained its outlook for full-year sales growth of four to six percent while tightening earnings per share expectations to the top end of its guidance range, as management confirmed the company is on track for another record year for earnings despite a challenging economic backdrop. Caleres now sees adjusted ...
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CCC targets cost savings, cuts revenue forecast in a difficult market
CCC Group, the Polish footwear and fashion group, cut its full-year outlook for revenues and capital expenditures and announced it would put into place cost savings measures totaling 300 million zloty (€64.0 million) as it continues to navigate through what it described as an “extremely challenging” year for retailers. Due ...
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Dr. Martens warns on profits as DTC sales soften
Dr. Martens has issued a warning on full-year profits, citing weakening demand, higher investment in its direct-to-consumer (DTC) push and a stronger U.S. dollar. The British company, famed for its lace up boots now popular with celebrities, said pre-tax profit fell by 5 percent to £57.9million (€67.5m) as DTC sales ...
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Coats’ apparel and footwear business slows down
The Apparel & Footwear (A&F) division of Coats enjoyed a 14 percent year-over-year increase in organic revenues in the first ten months of 2022 but growth slowed down to 3 percent in the four months July 1 to Oct. 31. Meanwhile, total revenues of the British company, which produces industrial ...
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Shoe Carnival gears up for Shoestation.com launch as Q3 sales dip 4%
Shoe Carnival revealed that it is in the final testing phase for an e-commerce site for the recently acquired Shoe Station banner, with a launch date expected in the coming weeks or early in the group’s 2023 fiscal year at the latest. “We’re making sure the supply chain is flawless ...
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Farfetch’s operating loss widens despite higher sales
Farfetch, the online platform for luxury goods, suffered a $218.5 million operating loss in the third quarter of 2022 versus a $105.7 million loss in the year-ago period. The attributable net loss was $274.2 million against a profit of $767.2 million. Revenues increased by 1.9 percent, or 14.1 percent at ...
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Alibaba’s operating income increases 68%
Alibaba experienced a 3 percent jump in revenues to 207.2 billion yuan renminbi (€28.1bn) in the second quarter ended Sept. 30 from RMB 200.7 billion a year earlier. The increase occurred despite the Covid-19 resurgence in China that depressed consumer demand, currency volatility, higher logistics costs and slowing cross-border commerce. ...
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Geox maintains guidance despite expectations for weaker Q4
Geox said it was maintaining its guidance for 2022 after a solid third quarter and despite expectations for a weaker performance in the fourth quarter. Growth in its top line in the last three months of the year is seen limited by delays in deliveries and the loss of apparel ...
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Jimmy Choo’s sales slow down sharply in Q2
In the fiscal second quarter ended Oct. 1, Jimmy Choo posted revenues of $142 million, up by 3.6 percent year-over-year on a reported basis and by 15.3 percent at constant currency rates. In the first quarter of the fiscal year, sales had risen by a reported 21.1 percent and by ...
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Stuart Weitzman's sales are flat, operating result negative
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $65 million in the fiscal first quarter ended Oct. 1, unchanged year-on-yer at constant currency rates. “We delivered growth in North America, aided by strength in the wholesale channel, while pressure remained in the highly ...
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Tod’s still has not decided on delisting move
Diego Della Valle, the chairman and CEO of Tod’s, still has not decided on his next move to delist the Italian luxury goods company after his first attempt to buy out minority shareholders failed. During a conference call with financial analysts, the company’s chief financial officer, Emilio Macellari, said that ...
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Yue Yuen cautious about months ahead despite strong Q3
Yue Yuen reported a 171 percent increase in nine-month profit attributable to shareholders of $270.1 million versus $99.6 million. Revenues increased 8.2 percent to $6,971.9 million from $6,441.2 million for the period ended Sept. 30. Ebit was up 101 percent through nine months at $353.4 million, but gross margin was ...
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Europe drives Ferragamo’s sales higher
Salvatore Ferragamo reported a growth in sales and profits in the first nine months of 2022, thanks to a positive performance in both distribution channels and a strong increase in revenues in the Europe, Middle East and Africa (EMEA) business region. The Italian fashion house posted a 17.2 percent rise ...
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Allbirds Q3 losses widen, warns of “choppy” holiday trading
Sustainable footwear and clothing brand Allbirds has posted wider third-quarter losses and warned of “choppy” trading conditions in the run-up to Christmas. The company said net losses increased to $25.2 million from $13.8 million a year ago, and net loss margin increased to 35 percent from 22 percent. Operating losses ...
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Wolverine establishes new brand structure, sets bigger focus on profit
Shares in the parent company of Merrell, Saucony, Keds and Sweaty Betty declined more than 34 percent on Nov.9 after it missed its third-quarter earnings target and lowered its guidance for the FY. Wolverine World Wide Inc.’s shares are down 59 percent year-to-date. The full-year outlook calls for 14 percent ...
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Primark freezes prices and writes down German business
Primark is freezing prices despite soaring inflation and is also taking a writedown and reviewing its store estate at its German business. The British clothing retailer recorded total sales of £7.7billion (€8.83bn) for the year to Sept. 17, up by 43 percent on last year, as U.K. like-for-like sale and ...
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Clarks focuses on China and U.K. after returning to a profit
Clarks swung to a profit in the 2021/2022 fiscal year thanks to reduced discounting and a better product mix. The British company is targeting a return to pre-Covid turnover levels within three years. The 197-year-old brand started a five-year reorganization program to cut costs under the guidance of its new ...
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Grendene takes over the management of its Melissa Club franchise
Grendene has taken over the management of its network of Melissa Club stores in Brazil after putting an end to an agreement with Multi Franqueadora, which acted as master franchiser. ”By internalizing the management of the franchise network, the company aims to gain more control of the channel, accelerate the ...
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Steve Madden cuts full-year guidance on order intake
Steve Madden reported third-quarter results in line with market expectations but slightly reduced its full-year guidance due to a slowdown in orders. In the period ended Sept. 30, the company posted a 5.3 percent increase in revenues year-over-year to $556.6 million. Sales for the wholesale business increased by 8.1 percent ...
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Havaianas’ growth in EMEA slows for Alpargatas
Alpargatas generated a 5.4 percent (+21 percent currency neutral) sales growth to 132.0 million Brazilian reais (€32.5m) for its rubber sandal brand in the EMEA during the third quarter. Revenues per pair increased by 4 percent in constant currency. Overall, Havaianas’ sales fell in all other geographic regions, although they ...
