Financial Results – Page 6
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ArticleSpartoo’s H1 sales decline but earnings improve
In the first half of 2023, Spartoo saw its gross merchandise value (GMV) decrease by 2.6 percent compared to the year earlier to €101.6 million and revenues excluding value-added tax slipped to €72.9 million from €73.9 million. The percentage of GMV generated by brands owned by the French retailer increased ...
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ArticleBoohoo cuts its sales guidance
Boohoo has warned that full-year sales are likely to fall more than expected after a weak first half of the fiscal year. The British online fashion retailer said that in the six months to Aug. 31 revenues fell by 17 percent year-on-year to £729.1 million (€841.2m), with domestic sales down ...
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ArticleBirkenstock valued up to $9.2bn in IPO
Birkenstock has set a value of up to $9.2 billion at the top end of the price range for its initial public offering (IPO), or more than seven times its annual sales. Birkenstock Holding Limited, which is registered in Jersey and has its headquarters in London, has filed for an ...
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ArticleC & J Clark International hit by post-Covid supply issues, but group results step ahead
C & J Clark International reported lower turnover and profits last calendar year as post-Covid pandemic supply chain issues hit stock availability. The company is the unit of the Clarks group that manages the activities in the U.K., all of the wholesale business in Asia as well as some of ...
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ArticleAsos lowers guidance as wet summer hits U.K. sales
The British online fast fashion retailer Asos said that operating profits for the full year will come in at the bottom end of expectations and free cash flow will be significantly lower than guidance after domestic sales in July and August were hit by wet weather. In a fourth-quarter trading ...
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ArticleLeder & Schuh reports strong increase in sales for 2022
Austria’s Leder & Schuh, one of Europe’s largest shoe retailers, reported a strong increase in sales in 2022, confirming the previous year’s positive sales trend. Revenues rose to €351 million from €280 million in 2021, an increase of around 25 percent. The company’s gross profit rose to €147.5 million ...
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ArticleNext lifts guidance again as strong summer, wage rises boost sales
Next lifted full-year guidance for the third time in four months after better-than-expected summer sales and said easing inflationary pressures could see a fall in prices next year. Pre-tax profits are now forecast to come at £875 million (€1bn) from a previous guidance of £845 million (€974.2m), with the brand ...
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ArticleBirkenstock’s 9-month sales up 21%
Birkenstock’s sales in the nine-month period ended June 30, 2023, rose by 21 percent to €1,117 million as the number of units sold grew by 5 percent and the average selling price increased by 15 percent. Direct-to-consumer penetration grew to 37 percent of revenues over the period from 34 percent ...
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ArticlePrimark recovery to boost annual profit at parent, but stock theft rising
A strong recovery at the retail chain Primark has helped its parent company Associated British Foods (ABF) to lift annual guidance again, although it warned about a sharp increase in stock theft and abuse against staff in its stores around the world. ABF said it now expected adjusted operating profit ...
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ArticleDesigner Brands sees tailwinds from Nike sales, ‘softer’ comps as economic pressures continue
Designer Brands maintained its sales and earnings guidance for the full year, highlighting the “softer” comparable figures it is facing in the third and fourth quarters and an expected lift from the sale of Nike shoes, as it resumes sales after renewing its partnership with the U.S. sportswear company earlier ...
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ArticleTod’s’ operating profits beat expectations
In the first half of 2023, Tod’s posted earnings before interest and tax (Ebit) of €60.3 million, significantly higher than the €17.7 million posted a year earlier and the €36 million forecast by financial analysts. The Ebit margin widened to 10.6 percent from 3.8 percent the previous year. The Italian ...
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ArticleCaleres maintains guidance as profits increase in Q2 despite ‘choppy’ market
Caleres maintained its earnings and revenue guidance for the full year, after posting better-than-expected profits in the second quarter despite a slightly worse-than-anticipated sales performance and a market that continues to be “choppy”. In the second quarter ended July 29, sales at the U.S. footwear group slipped by 5.8 percent ...
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ArticleSergio Rossi boosts H1 sales
In the first half of 2023, Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods firm Lanvin Group, posted sales of €33 million, up by 22.4 percent from a year earlier. The brand’s sales rose by 29.7 percent in EMEA, 31.5 percent in North America and 20.9 percent ...
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ArticleSchuh shines for Genesco in Q2, but company retains ‘cautious’ FY view
Bolstered by warm weather and higher average selling prices (ASPs), the Schuh Group segment of Genesco reported a record quarterly operating income of $8.4 million against $2.1 million a year earlier. With approximately 40 percent of its business generated by the digital channel, Schuh reported 21 percent sales growth to ...
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ArticleShoe Carnival cuts guidance again but makes inroads among higher-income customers
Shoe Carnival cut its full-year sales and earnings per share guidance for the second time as less affluent urban clients continue to face adverse economic conditions. However, the U.S. footwear retailer noted that its business environment is improving thanks to moderating inflation and by attracting more higher-income customers. “Simply ...
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ArticleFoot Locker suspends dividend payments amid falling sales
Foot Locker announced the suspension of its dividend payments and a cut in its full-year guidance after posting a decline second-quarter sales. The news led to an over 28 percent plunge in the company’s share price on the Nasdaq market in New York. In the second quarter ended July 29, ...
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ArticleStella improves its operating margins in H1
Stella International, the Hong-Kong based footwear manufacturer and retailer, improved its operating margins thanks to an increase in the average selling price (ASP) per pair due to new customers for its luxury and high-end fashion categories as well as higher demand for premium products, including for the sports category. The ...
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ArticleStuart Weitzman will be relying on sneakers, China to boost sales
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted fourth-quarter sales that were more than $12 million below expectations of financial analysts. However, the brand is relying on the launch of an extended sneaker assortment and the reopening of the Chinese market, after the lifting of ...
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ArticleBata India is exploring a partnership in its local market
Bata India said that it is exploring the opportunity of a partnership in its domestic market but had no developments to announce. ”We would like to inform that the company continues to explore opportunities for strategic alliance / collaborations / tie-up for the Indian market and as and when matters ...
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ArticleSoft global footwear demand continues to impact Yue Yuen
Profit attributable to Yue Yuen (YY) shareholders declined by 52 percent to $83,601,000 for the six months ended June 30 from $175,049,000 a year earlier, as sales fell by 12 percent to $4,154,968,000 from $4,709,792,000. Ebit fell by 36 percent to $143,227,000. The company cited a sluggish global macroeconomic environment ...
