Financial Results – Page 15
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VF Corp. maps out growth strategy, trims FY23 outlook
VF Corp., which counts a dozen brands in its portfolio, is targeting a five-year compounded annual revenue growth rate in the mid-to high single digits, earnings per share expansion of high single to low double digits and an operating margin of approximately 15 percent by FY27. The U.S. parent of ...
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ArticleBoohoo issues profit warning as H1 sales slump, product returns increase
Boohoo has issued a profit and sales warning after a 10 percent fall in first-half revenues driven by the cost-of-living crisis. The fast-fashion online retailer, whose brands include Pretty Little Thing and Nasty Gal, said revenues fell to £882million (€986.7m) in the six months to Aug. 31 and forecast annual ...
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ArticlePittards sees ‘strong’ order book after H1 sales rise 7%
Pittards, the British leather and leather goods company, posted revenues in the first half ended June 30 of £10.4 million (€11.7m), up by 7 percent on the year earlier, as its sales order book remained “strong” across market sectors. The gross margin in the six-month period widened to 30 percent ...
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ArticleHotter Shoes lifts sales but notes pressure on consumer spending
Hotter Shoes’ owner, Unbound Group, reported higher half-year sales and margins driven by strong demand, despite the tougher economic outlook. Unbound, formerly known as Electra Private Equity, said revenues rose to £27.6 million (€31.60m) from £25.0 million, driven by its multi-channel sales model. It posted a pre-tax loss of £2.14 ...
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ArticleNice Footwear’s sales and profits rise sharply
Nice Footwear posted strong top line and bottom line growth in the full year ended on April 30, 2022, despite a rise in costs. Revenues grew by 51 percent to €32.8 million, with €17.1 million of sales achieved in Italy and €15.7 million abroad. The top line of Italian footwear ...
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ArticleInditex books strong H1 sales
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, posted sales of €14.8 billion in the first half ended July 31, up by 24.5 percent from a year ago and 25 percent higher at constant currencies despite the current inflationary environment and closure ...
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ArticleStuart Weitzman expects to outperform the market
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, expects to overperform the market in the coming years. It forecasts to increase revenues from $317.7 million in the full year ended on July 2 to $450 million in fiscal 2025, representing a compound average growth rate (CAGR) ...
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ArticleAsos cuts FY guidance on weak August sales
Asos has cut its guidance for the full year ended on Aug. 31 as sales slowed down in August. However, it noted that sales, adjusted pre-tax profit and net debt are anticipated to be within the range of financial analysts’ expectations. According to a consensus compiled by the British fashion ...
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ArticleTod’s’ sales return to pre-Covid levels
With a 17 percent increase in first-half sales to €467.5 million, Tod’s is back to pre-pandemic levels and beat market expectations by nearly €4 million. At constant currency rates, the top line grew by 14.3 percent. The Italian fashion group grew by double-digit rates in all markets, except in ...
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ArticlePrimark’s earnings are being squeezed by inflation
In the 2022/2023 fiscal year, Primark’s operating margin will be squeezed by rising inflation which is pushing up its costs and eroding the disposable income of it clients, said Associated British Foods (ABF), the parent company of the clothing retailer. The profit warning was released with the group’s preliminary results ...
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ArticleFerragamo beats expectations despite slowdown in China
Salvatore Ferragamo beat expectations in the first half of 2022 with a 17 percent surge in revenues, at constant exchange rates, to €630.3 million, versus analysts’ estimates of €621 million, according to a consensus compiled by Reuters. The operating profit totaled €95.4 million in the six months ended June 30, ...
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ArticleEcco completes the renovation of its headquarters
Ecco has completed the refurbishment of its headquarters located in Bredebro. The town, situated in southern Denmark, has been the company’s home since its foundation in 1963 by Birte and Karl Toosbuy. The site comprises various corporate functions including finance, supply chain, procurement, information technology, human resources and corporate responsibility. ...
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ArticleGenesco cuts guidance as Journeys disappoints, U.K. consumers face headwinds
Genesco cut its sales and earnings guidance for fiscal year 2023 after the Journeys business failed to meet expectations in the second quarter and as it also adopts a more conservative outlook in the U.K., where management noted that consumers are increasingly facing economic headwinds. Genesco is now forecasting full-year ...
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ArticleDesigner Brands raises its full-year guidance again
Designer Brands released a new update in its full-year guidance after better-than-anticipated second-quarter results. The company raised its full-year diluted earnings per share guidance to a range of $2.05 to $2.15 from a previous forecast of $1.90 to $2.00, which had already been upgraded in April 2022 from $1.75 to ...
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ArticleStella posts strong H1, warns about forthcoming demand
In the first half of 2022, Stella International increased revenues by 18.9 percent to US$827.2 million from $695.5 million a year earlier, driven by higher orders from its manufacturing business. However, the growth rate indicated a slowdown in the second quarter compared with the first quarter, when the top line ...
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ArticleShoe Carnival Q2 hit by lack of athletic inventory
Shoe Carnival’s net sales in the second quarter ended on July 30 fell by 6.0 percent year-over-year to $312.3 million. Nevertheless, it was the group’s second highest second-quarter sales ever and the top line was up by 16.4 percent compared with the second quarter of 2019, prior to the outbreak ...
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ArticleCaleres raises sales outlook after record Q2
Caleres maintained its guidance for earnings in the full year and raised and tightened its outlook for sales after a record second quarter for sales and earnings, projecting that it would maintain its momentum despite high inflation and uncertainties about consumer spending. Sales in the three months ended July 30 ...
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ArticleArezzo continues to post record sales
After a record-breaking first quarter, Arezzo & Co posted its highest sales for a second quarter, with gross revenues reaching 1,165 million Brazilian reais (€224.5m), up by 65.1 percent from the previous year and by 138.0 percent compared with the second quarter of 2019. The Brazilian company achieved 24.8 percent ...
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ArticleGrendene sees sales jump as Brazilian market recovers
Grendene saw its revenues in the second quarter of 2022 jump by 46.5 percent to 641.4 million reais (€123.5m), as its domestic sales surged by 49.4 percent to R$498.6 million (€96.0m) after an 8.9 percent drop in the previous quarter and export revenues improved by 37.4 percent to R$142.8 million ...
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ArticleStuart Weitzman is profitable again despite a weak Q4
Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, posted higher sales and returned to an operating profit in the full year ended on July 2 despite a weak fourth quarter. Revenues for the full year increased by 12 percent to $317.7 million, or by 11 percent on ...
