Financial Results – Page 10
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ArticleZalando hikes its full-year guidance
Zalando has increased its 2024 forecast following a solid third-quarter performance. The Berlin-based fashion and lifestyle e-commerce giant, which has seen steady growth in its customer base and online demand, now expects higher full-year results for its gross merchandise volume (GMV), revenues and adjusted Ebit, marking a positive outlook for ...
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ArticleSpartoo improves its cash flow despite lower sales
In the first half of 2024, Spartoo suffered a decline in revenues but continued to improve its cash flow thanks to a reduction in working capital as inventories decreased. The gross merchandise value (GMV) totaled €90.9 million, down by 10.5 percent compared to a year earlier. Revenues also dropped by ...
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ArticleH&M posts disappointing Q3 results
H&M Hennes & Mauritz posted lower-than-expected third-quarter results and cut its full-year guidance. The Swedish fashion retailer said that in the quarter running from June 1 to Aug. 31 net sales fell to SEK 59.011 billion from SEK 60.897 billion a year earlier but were flat in local currencies. It ...
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ArticleFootasylum posts record sales and earnings
Footasylum posted record results in the fiscal year that ended on Jan. 27, 2024. Revenues rose by 7 percent to £319.5 million (€382.2m) for the British footwear retailer. The top line was driven by online sales, which grew by 15 percent to £134.9 million, or 42.2 percent of overall revenues, ...
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ArticleNext lifts guidance again as overseas sales boost H1 profits
Next has lifted its annual profit guidance for the second time in two months to almost £1 billion (€1.2bn) thanks to a sharp jump in overseas sales in the first half of its financial year and strong trading in recent weeks. The British fashion retailer raised forecasts for full-year pre-tax ...
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ArticleCaleres unveils cost-cutting measures, lowers guidance after falls short in Q2
Caleres said it was accelerating cost-cutting measures and cutting guidance for its full fiscal year, after missing sales and earnings guidance in the second quarter ended Aug. 3. Second-quarter sales slipped by 1.8 percent compared to the year earlier to $683.3 million, a decline that was attributed to a fall ...
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ArticleDesigner Brands cuts guidance as dress, seasonal footwear suffer
Designer Brands said it was cutting its sales and earnings guidance for the full year after posting worse-than-expected results in its second quarter ended Aug. 3, as the outperformance of its growing athleisure offering was not enough to offset difficulties with dress and seasonal footwear. The company, which owns the ...
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ArticleInditex’s H1 sales growth outpaces costs
In the first half ended July 31, Inditex posted sales of €18.1 billion, up by a reported 7.2 percent and by 10.2 percent at constant exchange rates, with store openings in 34 markets bringing the group to a total of 5,667 stores. The top line outpaced operating expenses, which increased ...
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ArticleGenesco maintains earnings guidance despite better-than-expected Q2 performance
Genesco said it was maintaining its earnings guidance for its 2025 fiscal year, even though its top and bottom line performance exceeded expectations in the second quarter as it continued to make progress with the turnaround of its Journeys division. Management still anticipates adjusted earnings per share (EPS) of $0.60 ...
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ArticleGolden Goose H1 sales up by 12% driven by DTC
At constant exchange rates, Golden Goose posted a 12 percent year-on-year increase in first-half net revenues to €307 million driven by its direct-to-consumer (DTC) business. DTC net revenues grew 18 percent to €226.8 million, accounting for 73 percent of the top line, compared with 70 percent a year earlier, thanks ...
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ArticleShoe Carnival converts some stores to the Shoe Station banner
Shoe Carnival’s management said it is switching some of its Shoe Carnival stores to the Shoe Station banner, which caters to a higher price target and was one of the drivers of its better-than-expected financial results in the second quarter of its 2024 fiscal year. As part of a testing ...
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ArticleSoggy British summer hits second-half sales at Primark
Like‐for‐like sales at Primark were expected to fall by around 0.5 percent year-over-year in the six months to Sept. 14 due to wet weather in the UK and Ireland, driven by a 0.9 percent decline in the final three months compared with 0.2 percent growth in the third quarter. Overall ...
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ArticleAsos sells Topshop and partially refinances its debt
Asos is selling 75 percent of the Topshop group for £135 million (€160m) as part of a deal with the Danish fashion billionaire Anders Holch Povlsen, who owns 28 percent of the troubled British online fashion retailer. Asos, which has faced severe headwinds amid the cost-of-living crisis in the UK ...
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ArticleKurt Geiger enjoys strong sales growth in the US
Kurt Geiger, a British footwear and accessories brand, increased revenues by 9.4 percent to £360.6 million (€428.4m) in the fiscal year ended in February 2024, driven by demand for its “affordable luxury” handbags, now its biggest-selling products. The brand’s leather handbags have an average retail price of £250 (€297). Founded ...
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ArticleBirkenstock posts record sales but disappoints the stock market
In the third quarter ended on June 30, Birkenstock reported record revenues of €564.8 million, up by 19 percent year-over-year at current and constant currency rates, thanks to “strong consumer demand supported by new production capacity and category expansion.” Nevertheless, the company’s results disappointed investors, sending the stock down sharply. ...
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ArticleStella significantly hikes distribution to shareholders over the next 3 years
Stella International recorded a 53 percent increase in adjusted net profit to $92.9 million in the first half of 2024 from $60.3 million a year earlier, improving its adjusted net profit margin to 12.1 percent from 8.4 percent. It also announced plans to significantly increase distribution to shareholders over the ...
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ArticleTapestry’s takeover of Capri given 30% chance of succeeding
The stock market gives an about 30 percent chance that Tapestry’s planned takeover of Capri Holdings will succeed after it was challenged by the US government over concerns that the aggregation could harm competition, according to the brokerage Raymond James. On April 22, 2024, the US Federal Trade Commission decided ...
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ArticleYue Yuen experiences order book ‘normalization’
The globe’s largest footwear manufacturer Yue Yuen realized a whopping 121 percent growth in profit attributable to company owners at $184.4 million for the six months ended June 30 versus $83.6 million a year earlier. Ebit rose by 85 percent to $265.2 million against $143.2 million in the year-ago period. ...
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ArticleWolverine posts better-than-expected Q2 results
Wolverine Worldwide, Inc (WWW) posted better-than-expected sales and earnings in the second quarter of 2024 as the US company benefits from the results of its turnaround plan launched a year ago. Total revenues fell by 27.8 percent, or by 27.7 percent at constant exchange rates, to $425.2 million and ongoing ...
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ArticleGrendene’s foreign sales pick up in Q2
Grendene’s gross revenues rose by 3.1 percent year-over-year to 604.4 million reais (€100.5m) in the second quarter of 2024, underpinned by its key Melissa brand and a surge in exports. The group’s domestic sales were up by 1.5 percent to R$506.7million (€84.3m), as higher prices offset a decline in volumes, ...
