Financial Results – Page 7
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ArticleJimmy Choo’s Q1 sales rise as expected
In the first fiscal quarter ended on July 1, Jimmy Choo posted revenues of $183 million, up by 6.4 percent compared to the prior year on a reported basis and by 7.0 percent at constant currency rates. The brand’s operating income was $16 million and operating margin 8.7 percent, compared ...
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ArticleGrendene is optimistic about H2 despite a weak Q2
Grendene suffered an 8.6 percent decline in gross revenues to 586.2 million reais (€108.9m) in the second quarter of 2023, but the Brazilian footwear group is optimistic about the second half of the year, when it usually achieves about 60 percent of its sales. Thanks to a positive first quarter, ...
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ArticleFerragamo’s sales weakness expected to continue until Q4
After suffering a 4.8 percent decline in total revenues to €600.1 million in the first half due to two consecutive quarterly decreases, Salvatore Ferragamo is expected to experience another weak third quarter before showing signs of recovery in the final three months of the year, according to Paola Carboni, financial ...
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ArticleArezzo continues to book record sales
Arezzo & Co continued its record-breaking streak, having posted its highest-ever revenues for a second quarter and its biggest-ever sales day. The company said its second-quarter gross revenues reached $1.4 billion Brazilian reais (€260 million) in the quarter, representing a 21.6 percent increase year-on-year and a 100.8 percent increase over ...
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ArticleWolverine’s new CEO to spearhead turnaround as Q2 results tumble
Chris Hufnagel, who was named president and CEO on Aug. 10, of Wolverine Worldwide, Inc (WWW) with immediate effect following the sudden departure of Brendan Hoffman, faces numerous headwinds from day one, with the group’s second-quarter figures now released. They range from getting inventory and debt to proper levels and ...
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ArticleAlpargatas still plagued by inefficiencies, high inventory levels
Alpargatas, the Brazilian parent of flip-flop brand Havaianas and the Rothy’s footwear brand, continues to be challenged by high inventory levels in the South American market and inefficiencies in its overall operation that are impacting sales, margins and profitability. The group reported a 53.1 million Brazilian reais (€9.9m) consolidated net ...
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ArticleSteve Madden’s expects an improvement in H2 after Q2 sales fall 17%
Steve Madden’s revenues decreased by 16.8 percent to $445.3 million in the second quarter of 2023 from $535.0 million a year earlier. However, the company expects an improvement in the second half of the year even if it remains cautious especially regarding re-orders from wholesale clients. Revenues for the wholesale ...
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ArticleNext lifts guidance again on strong rise in Q2 full-price sales
Next has raised its annual profit forecasts again after strong second-quarter full-price sales and better-than-expected clearances of summer stock. The British fashion retailer raised guidance by £10 million (€11.6m) to £845 million (€980m), just six weeks after its last upgrade. Next also forecast that annual full-price sales will be 1.8 ...
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ArticleBoot Barn’s Q1 sales rise, beating the company’s forecast
Boot Barn’s net sales rose by 4.9 percent to $383.7 million in the first fiscal quarter ended on July 1, from $365.86 million the previous year. Net income fell from $39.3 million to $34.3 million, with net income per diluted share coming in at $1.11, compared to $1.26 the previous ...
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ArticleWeyco posts higher profit, margin despite lower Q2 sales
Weyco Group suffered a 9.9 percent decline in second-quarter sales to $67.0 million as the group’s portfolio of footwear brands faced difficult year-over-year comparisons and a wholesale market flush with inventory. Nonetheless, the group improved several operating metrics in the period ended June 30. Operating income rose by 18 percent ...
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ArticleCoats forecasts gradual demand improvement in H2
Coats, the U.K.-based maker of industrial yarns and structural components for footwear, suffered headwinds during the first half of 2023 due to difficult year-over-year comparisons and widespread industry destocking. Adjusted operating profit slipped by 14 percent to $107 million the six months ended June 30 from $125 million a year ...
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ArticleVF cuts its FY revenue guidance
VF Corp., the parent of brands such as Vans, Timberland and The North Face, reporting a loss of $57.4 million in the first quarter ended July 1 against a loss of $55.96 million in the year-ago period on an 8 percent revenue decline to $2.09 billion from $2.26 billion. Adjusted ...
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ArticleSkechers raises earnings guidance for the year as DTC, international operations shine in Q2
Skechers raised its guidance for earnings in the full year, after its direct-to-consumer (DTC) and international operations performed strongly in the second quarter ended June 30. While its domestic wholesale business underperformed as expected, overall revenues rose by a reported 7.7 percent to $2,012.5 million and were 9.1 percent higher ...
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ArticleConcern about a slowdown at Heydude weighs on Crocs
Crocs Inc. generated more than $1 billion in second-quarter revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance on to surpass the $4 billion mark, but the company’s share price plummeted 14 percent on the day on worries that the group’s pace of revenue growth, particularly ...
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ArticleHoka paces Deckers in Q1, company lifts FY guidance
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in net income to $63.6 million in the first quarter ended June 30 versus $44.8 million a year earlier. Operating income was 26 percent higher year-over-year at $70.7 million. ...
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ArticleTod’s’ H1 sales rise 21.7%, Ebit expected to double
Tod’s released preliminary sales data for the first half of 2023 that come in at €569.1 million, up by 21.7 percent year-on-year on a reported basis and by 22.8 percent at constant currency rates. The figure was in line with market expectations. Financial analysts expect that the Italian fashion house ...
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ArticlePrada’s footwear sales rise 20% in H1
In the first half of 2023, footwear sales for the Prada group in the retail channel rose by 20 percent at constant currency rates to €374 million. Shoes represented 19 percent of the group’s quarterly retail sales. The group posted growth in all footwear collections: lifestyle, sneakers and formal. Growth ...
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ArticleStella Q2 sales momentum improves in Q2
Stella International, the Hong-Kong based footwear manufacturer and retailer, said that in the second quarter of 2023 it posted a 3.1 percent decline in manufacturing revenues to $419.5 million from $432.8 million as footwear shipments dropped by 6.7 percent to 14.0 million pairs from 15.0 million a year earlier. The ...
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ArticleFootway launches a capital hike as its liquidity is under pressure
Footway announced a SEK100 million (€8.7m) capital increase and a reduction of its inventory as its liquidity “is under pressure” due to tighter credit terms from suppliers in an ”already weak market.” On July 14, Swedish e-commerce company had a market capitalization of SEK 825 million (€72m). During the first ...
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ArticleJD Sports’ growth slows down in May
JD Sports Fashion said that it benefited from ”further positive trading in all regions” through May with overall growth in organic sales at constant exchange rates up around 8 percent year-on-year. In the first three months of the company’s fiscal year, which ends on Feb. 3, 2024, growth in organic ...
