Financial Results
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ArticleVF Corp. cuts sales guidance after a good quarter
VF Corp. - the owner of brands including Vans, The North Face and Timberland - cut its sales guidance for the financial year ending in March 2022 to $11.85 billion from a previous $12.0 billion, as it once again lowered the forecast for its Active segment while increasing that for ...
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H&M sales up 20% in December-January
Between Dec. 1 and Jan. 31, 2022, H&M expects sales in local currencies to increase by 20 percent compared with the same period last year. Despite the rise, it noted that the period was negatively affected by the latest wave of the Covid-19 pandemic in many of its larger markets. ...
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Boot Barn aims to boost annual sales to $2bn in 3 years
Boot Barn exceeded a billion in sales in the nine months ended Dec. 25 and aims to achieve annual revenues of $2 billion in less than three years by expanding its store network and e-commerce business. The net sales of the California-based shoe retailer increased by 74.1 percent to $1.1 ...
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Dr. Martens’ wholesale business suffers from Covid impact
Dr. Martens suffered a slowdown in revenue growth in the third quarter compared with the first half of its fiscal year due to a drop in wholesale revenues as the company prioritized e-commerce and its own stores, which offer higher margins. But, news of weak wholesale revenues prompted a significant ...
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Tod’s looks to 2022 with optimism after sales top expectations
Tod’s is looking towards 2022 with optimism after reporting higher-than-expected sales in 2021 and receiving positive initial feedback on its new spring/summer 2022 collections. Preliminary sales figures for the Italian footwear company showed that sales increased by 38.7 percent in 2021 compared to the year earlier to €884 million and ...
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JD raises its profit forecast again
JD Sports Fashion expects that its pre-tax profit for the financial year ending Jan. 29 year will reach a level of at least £875 million (€1,050m-$1,197m), well ahead of the analysts’ consensus averaging £810 million, as its sales went up by more than 10 percent on a same-store basis in ...
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Asos’ Christmas season revenues disappoint
Asos reported weaker-than-expected sales over the Christmas period due to “challenging” market conditions. Nevertheless, it announced plans to transfer to the London Stock Exchange’s main list by the end of February to be more appealing to large investors. in the four months to Dec. 31, total revenues for the British ...
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Shoe Zone returns to an annual profit
Shoe Zone swung to an annual profit, driven by lower costs and online sales as it aimed to push forward with its “Big Box” and hybrid store expansion strategy. Annual pre-tax profit for the year to Oct. 2 was £9.5 million (€11.4m-$13.0m) compared with a loss of £14.6 million in ...
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Hotter Shoes revenues up 9% over Christmas
Hotter Shoes’ revenues jumped by more than 9 percent during the key November-December trading period as its soon-to-be rebranded parent company gets set to list on the AIM segment of the London Stock Exchange (LSE) at the end of January. In a trading update, Electra Private Equity – which will ...
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Boot Barn's Q3 sales reach $486m
In its third fiscal quarter ended Dec. 25, Boot Barn posted net sales of $485.9 million, up by 71.1 percent from the quarter ended Dec. 28, 2019, according to preliminary data released by the company. Compared with two years ago, same-store sales increased by 61.0 percent, including an increase in ...
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Boohoo warns returns, weak U.S. sales are hitting profits
The British fast-fashion retailer Boohoo issued a profit warning on its full-year profits because of higher returns in the U.K. and a weaker-than-expected performance in the U.S. The company now expects a net sales growth of 12-14 percent, down from a previous growth guidance of 20-25 percent, for the year ...
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Inditex posts record Q3 results
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, posted revenues of €19.33 billion in the first nine months to Oct. 31, up by 37 percent from a year earlier, and a gross margin of 59 percent after posting record-breaking third-quarter results. ...
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Designer Brands posts strong quarterly sales
In the third quarter ended Oct. 30, Designer Brands posted sales of $853.5 million, up by 30.7 percent from a year earlier. Comparable sales increased by 40.8 percent. Sales of the group’s U.S. retail segment rose to $709.6 million from $501.9 million a year earlier, with women’s footwear revenues increasing ...
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Dr. Martens posts stronger H1 results, but warns about U.S. shipping delays
Dr. Martens posted a 46 percent rise in interim profits, driven by a recovery in store sales as they reopened after Covid lockdowns, but the company warned that shipping delays in its U.S. business would continue into the next fiscal year. Pre-tax profit for the six months to Sept. 30 ...
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Genesco sees supply chain problems lasting most of next year
Genesco’s operating margins have been hit by higher freight costs and it believes that supply chain disruptions will probably continue for most of next year. The strain on deliveries has helped reduce promotional activity but has also led to a depletion in inventories. During a conference call on the company’s ...
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Allbirds' Q3 sales rise 33% but loss nearly doubles
Reporting its first quarterly results as a public company, Allbirds said its revenues grew by 33 percent to $62.7 million in the three months ended Sept. 30, as compared to the same period a year ago, driven by a 42 percent increase in the U.S. to $47.7 million. Sales in ...
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Shoe Carnival to resume increasing store network in 2022
With the release of its best quarterly results in its 43-year history, Shoe Carnival announced plans to accelerate the refurbishing of its stores and to resume increasing the network from 2022. Ultimately, the U.S. footwear retailer wants to become a “multibillion-dollar” corporation in “the years ahead.” In the current full ...
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Farfetch’s Q3, outlook disappoint
Farfetch posted results below expectations in the third quarter and cut its full-year guidance prompting its share price to fall by nearly 14 percent on the day. The British online fashion retailer posted a 28 percent year-on-year increase in gross merchandise value (GMV) to $1.017billion. GMV generated by the digital ...
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Caleres raises earnings outlook as Famous Footwear shows ‘exceptional upward momentum’
Caleres raised its earnings guidance for its full financial year, after reporting a record bottom line in the third quarter ended Oct. 30 as the Famous Footwear retail chain saw “continued, exceptional upward momentum” and recovery at the Brand Portfolio business progressed despite headwinds from higher freight costs. Caleres reported ...
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Alibaba cuts 2022 guidance after Q2 earning, revenue miss
Alibaba cut its guidance for the full year after revenues and earnings in its second quarter ended Sept. 30 came in below expectations amid a slowdown in economic growth in China and an ongoing regulatory crackdown on tech companies in the country. Alibaba now expects revenues to grow between 20 ...
