Financial Results – Page 3
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C-Suite interview: Rohde enters the U.S. market and expands its European online business
Rohde is continuing its recovery by entering the U.S. market and expanding to most of Europe its business-to-consumer (B2C) online platform, which is currently limited to Germany. On May 3–4, 2023, Rohde took part as an “education sponsor” in the Leadership Conference of the US National Shoe Retailers Association held ...
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Revenues fall at Dr. Martens as U.S. business remains out of step
Dr. Martens’ revenues fell by a fifth during the key Christmas period because of continuing weak performance in the US and a slump in wholesale demand. The British footwear company, which issued four profit warnings last year, posted revenues of £267 million (€313m) for the last three months of 2023, ...
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Europe underpins Ferragamo’s sales
Salvatore Ferragamo’s total revenues in the fourth quarter of 2023 fell by 5.6 percent on a reported basis, and by 5.9 percent at constant exchange rates, to €312.5 million, roughly in line with market expectations. During the quarter, net sales, which exclude certain revenues such as licenses, registered a “positive ...
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Primark does not expect severe disruption due to Red Sea tension
Primark’s sales grew by 2.1 percent on a like-for-like basis over the Christmas quarter despite a warm autumn, however they were down from an 8 percent rise in the previous three months. The British fast-fashion retailer added it did not expect severe supply disruptions from attacks on commercial shipping in ...
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ANWR Group's FY sales down 5%
ANWR Group reported a 5.0 percent decrease in business volumes to €20.7 billion in 2023, with all divisions suffering a decline. “2023 was a particularly challenging year,” said Frank Schuffelen, the CEO of the ANWR Group. “Inflation rates, high cost pressure and the depressed consumer sentiment caused by the geopolitical ...
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Stella’s Q4 sales rise on inventory replenishment by some customers
In the fourth quarter of 2023, Stella International Holdings posted a rise in manufacturing revenues to $380.3 million from $335.1 million a year earlier as footwear shipment grew by 10.9 percent to 13.2 million pairs from 11.9 million and the average selling price (ASP) inched up to $28.8 a pair ...
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Birkenstock’s earnings and guidance disappoint
Birkenstock released a disappointing first set of earnings as a public company prompting its stock to plummet nearly 8 percent on the day. The company also warned of a further Ebitda margin squeeze in the new fiscal year due to ramp-up costs at its new factory near Pasewalk in Germany. ...
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Shoe Zone to phase out Original format stores by end 2026
Shoe Zone plans to spend a minimum of 3-4 percent of sales annually to cover 50 store projects, head office infrastructure and IT changes after growing revenues in fiscal 2023, despite trading from fewer locations. As part of a reorganization of its estate, the British budget footwear company expects to ...
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Crocs looks to international business to drive growth
Crocs expects international markets to outperform its domestic business in coming years, after a 2023 marked by a strong performance for the U.S. footwear group in Asia, led by “extraordinary” growth in China. Markets outside of the U.S. now represent nearly 40 percent of the group’s business, said Andrew Rees, ...
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Genesco slashes FY earnings guidance after disappointing Christmas period
Genesco slashed its full-year earnings guidance in the wake of weak Christmas sales. In the nine weeks to Dec. 30, which represent about two-thirds of the company’s fiscal fourth quarter, like-for-like sales decreased by 4 percent. Same-store sales decreased by 6 percent and comparable sales for the company’s e-commerce businesses ...
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Wolverine’s inventory and debt are below expectations at the end of 2023
Wolverine World Wide confirmed its sales and earnings guidance released in November, while inventory and net debt are below expectations. The U.S. company expects full-year and fourth-quarter revenues of approximately $2.24 billion and $527 million, respectively. The annual and quarterly revenues for the ongoing business are estimated at $2.20 billion ...
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Crocs hikes its FY guidance
Crocs now expects to post record 2023 revenues of approximately $3.95 billion, which would represent more than 11 percent growth year-over-year, compared with the previous guidance of a 10-11 percent increase. “2023 was a strong year for Crocs, Inc. that culminated in a successful holiday season with market share gains ...
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Next lifts guidance again but warns of potential stock delays from Red Sea shipping attacks
Next has lifted annual guidance for the fifth time in eight months after full-price sales came in £38 million (€44m) more than expected during November and December, but warned that attacks on shipping in the Red Sea by Iran-backed Yemeni Houthi militants could cause supply delays. Full-price sales in the ...
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JD Sports cuts profit guidance as sales disappoint
JD Sports Fashion’s sales came in lower than expected in the 22 weeks to Dec. 30 and the British retailer cut its full-year profit guidance. The company reported that constant currency organic revenue growth was 6.0 percent during the 22-week period, while like-for-like growth was 1.8 percent. “This was slightly ...
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Pikolinos’ full-year sales rise to a record €138m
In the fiscal year ending on April 30, 2023, Pikolinos Group posted a record turnover of €138 million, up by 29 percent from the previous year primarily fuelled by the success of its flagship brand, Pikolinos. The year was the first under the full leadership of the second generation of ...
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CCC Group starts Q4 with 10% sales boost led by HalfPrice
CCC Group said that in November it posted its highest monthly sales figure ever, with sales at its off-price banner HalfPrice surging as consumers continue to seek bargains in the uncertain economic backdrop and new store openings bear fruit. In the period from Nov. 1 to Nov. 25, at the ...
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Designer Brands slashes guidance after sharp decline in Q3 boot sales, post-Cyber Monday ‘lull’
Designer Brands slashed its guidance for the full year after reporting lower-than-expected sales and earnings in the third quarter ended Oct. 28 as consumers continued to be selective and an industry-wide decline in seasonal footwear had an “outsized” impact on the U.S. footwear group given its large seasonal assortment. “The ...
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Genesco sees promotional activity driving sales, pressuring margins in Q4
Genesco has raised its guidance for full-year sales while lowering expectations for profit margins following a strategic decision to increase promotional activity going into the holiday season as retailers continue to compete for more selective consumers. In the third quarter ended Oct. 28, group sales decreased by 4 percent compared ...
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Dr. Martens cuts its guidance as it continues to struggle in the U.S.
Dr. Martens cut its guidance for its full fiscal year as it warned that it is taking longer than anticipated for a turnaround of its business in the U.S., where it faces an increasingly difficult consumer environment and lacks visibility on wholesale sales. The U.K. footwear company said it now ...
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Caleres sees Famous Footwear sales continuing decline in Q4, growth at Brand Portfolio
Caleres expects sales at its Famous Footwear chain will continue to decline in the fourth quarter of its financial year at roughly the same pace seen in the third quarter, while its Brand Portfolio segment is poised to resume year-on-year growth. In the third quarter ended Oct. 28, sales at ...