Financial Results – Page 35
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Article
VF raises FY outlook although supply chain strains cap Q2 sales growth
VF Corp. improved its guidance for this year’s revenues to $12.0 billion from $11.8 billion despite an operating environment that was more challenging than expected in the second quarter. The overall quarterly revenues of the group - which owns brands such as Vans, The North Face, Timberland, Icebreaker, Smartwool and ...
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ArticleCCC Q2 sales up by 41%
The Polish footwear and apparel group CCC said that in the second quarter ended in July it posted record quarterly sales of 2,048 million zloty (€444.4m-$517.7m), up 41 percent from a year earlier. Compared with the second quarter of 2019, the top line was up by 5 percent. The group ...
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ArticleCrocs posts an Ebit margin of over 32% on higher sales
Performing better than what analysts had estimated, Crocs reported a sales increase of 73.0 percent in the third quarter to a record level of $625.9 million, with a gain of 72.2 percent on a constant-currency basis. The company posted an exceptionally high operating margin of 32.2 percent, up from 19.9 ...
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ArticleNice Footwear improves profitability despite revenue decline
In the full year that ended April 30, 2021, Nice Footwear increased earnings before interest, tax, depreciation and amortization (Ebitda) to €2.364 million from €1.781 million a year earlier despite a decline in revenues to €21.144 million from €24.270 million over the period due to the impact of the Covid-19 ...
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ArticleShoe Zone expects to be profitable but warns on costs, supplies
The U.K. footwear retailer Shoe Zone expects to swing to an annual profit, but warned that Covid-19, supply-chain and inflationary issues still present challenges over the next 12 months. The company said pre-tax profit for the year ended Oct. 2 would be at least £6.5million (€7.6m-$8.8m) compared to the £14.6 ...
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ArticleLionRock bought 51% of Clarks for £1
The Hong Kong-based private equity firm LionRock Capital paid £1 (€1.2-$1.4) for a 51 percent stake in Clarks, when it took over the British footwear company earlier this year, according to documents filed with the British registrar of companies, Companies House. The group’s annual report showed that C&J Clark Limited ...
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ArticleBoohoo lowers sales guidance as higher costs squeeze H1 profits, margins
The British fast-fashion retailer Boohoo has warned of slowing sales growth and a squeeze on profit margins from higher costs as interim profits fell by a fifth. Adjusted pre-tax profit for the six months to Aug. 31 fell to £63.8 million (€74.3m-$86m) from £79.4 million a year earlier as revenues ...
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ArticlePittards returns to profits as sales recovery gathers momentum
Pittards, the British leather and leathergoods manufacturer, which owns the brand Daines & Hathaway, returned to profit in the first half and said there are “clear signs” a recovery from the Covid-19 pandemic was gathering momentum with orders at their highest level for two years. Pre-tax profit for the six ...
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ArticleANWR Group 2020 revenues stable
ANWR Group weathered out the Covid-19 pandemic to end 2020 with a 0.2 percent increase in revenues to €17.8 billion. Last year posed a tough challenge to ANWR, but the group was able to withstand the crisis thanks to its financial services and the sports business, as well as the ...
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ArticleShoe Carnival hikes full-year guidance after strong second quarter
The American footwear retailer Shoe Carnival increased its full-year guidance after posting strong second-quarter results. “Sales and profit results are far exceeding our expectations for fiscal 2021. And as such, we are significantly raising our annual guidance,” said Mark Worden during a conference call. Worden is chief customer officer but ...
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Article
Zalando posts strong double-digit sales growth in Q2
Zalando posted group revenues of €2,733.1 million in the second quarter, up by 34 percent from the second quarter of 2020. The gross merchandise value (GMV) jumped by 40 percent to €3.8 billion. GMV is the value of all merchandise sold to customers after cancellations and returns and including VAT. ...
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ArticleSteve Madden beats its own expectations in Q1
Steve Madden beat its own expectations in the first quarter of 2021 with revenues increasing by 0.5 percent to $361.0 million and a net income of $21.2 million, or $0.26 per diluted share, compared to net loss of $17.5 million, or $0.22 per diluted share, a year earlier. Adjusted net ...
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ArticleCrocs ups guidance after rising by over 60% in Q1
Raising its guidance for the full financial year after a very strong first quarter, Crocs predicted that its revenues will grow by between 40 and 50 percent in 2021 from last year’s level of $1,386 million, up from its previous forecast of 20-25 percent growth. Posting the third consecutive quarterly ...
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ArticleStella bounces back in Q1
In a business update, Stella International said revenues for the first quarter increased by 15.3 percent to $303.4 million. This is mainly due to a favorable comparison base with last year’s first quarter, when the Chinese company’s revenues were affected by store and factory closures, as well as lower demand ...
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ArticleSkechers is boosted by international wholesale and digital
Lifted by robust international demand, Skechers’ revenues jumped by 15.0 percent in the first quarter to a record level of $1,428.4 million, as compared to a year ago. Sales outside of the U.S. soared by 20.2 percent to represent 58 percent of the total turnover. In particular, the International Wholesale ...
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ArticleSequential Brands cannot comply with its covenants
Sequential Brands, a U.S. group that has a portfolio of consumer brands including Heelys, Avia and DVS, said that it is not expected to be able to comply over the next twelve months with certain of its financial covenants. It noted that if it fails to comply with the covenants ...
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ArticleAsos posts record profits on lockdown shopping boom
In the first half ended Feb. 28, the British online retailer Asos more than tripled pre-tax profits to a record £106.4 million (€122.8m-$145.8m) and raised full-year expectations as it continues to benefit from the Covid-19 pandemic. While the switch to online shopping during lockdowns boosted trading, Asos was cautious over ...
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Article
Daphne International cuts its net loss as it changes business model
The women’s footwear company Daphne International Holdings ended 2020 with a 77 percent reduction of its net loss to 242.0 million Hong Kong dollars (€26.5m-$31.1m) as an 83 percent drop in revenues to HK$ 363.9 million (€39.9m-$46.8m) resulted in a sharp fall in selling and distribution expenses as well as ...
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ArticleH&M March sales up by 55%
In the period from March 1-28, Hennes & Mauritz (H&M)’s net sales increased by 55 percent in local currencies, recovering from a 21 percent decline in the first quarter that ended Feb. 28. On a reported basis, the Swedish fashion and accessories retailer H&M booked first-quarter net sales of 40,060 ...
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ArticleRecord sales and earnings for Shoe Carnival
Shoe Carnival had its best fourth quarter ever, with revenues reaching $253.9 million in the three months ended Jan. 30, 2021, a 5.8 percent increase from the year-ago quarter. Comparable-store sales increased by 6.4 percent. The American shoe retailer improved its gross margin by 1.7 percentage points to 30.8 percent. ...
