Financial Results – Page 9
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ArticleGrendene sales inch up despite challenging domestic market, slump in exports
Grendene reported revenues of 657.6 million reais (€122.9m) in the first quarter of 2023, up by 4.2 percent compared to the year earlier although consumers in its home market of Brazil continued to see their disposable income eroded by high inflation, interest rates and unemployment while exports were under pressure ...
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ArticlePrada's Q1 footwear sales up 20%
In the first quarter of 2023, footwear sales for the Prada group in the retail channel rose by 20 percent at constant currency rates to €176 million from €147 million a year earlier. Shoes represented 18 percent of the group’s quarterly retail sales. The group said that both its formal ...
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ArticleRussia’s Zenden plans to push on sports footwear
Russian casual footwear retailer Zenden has set its sights on sports footwear, a niche the company sees as lucrative after the departure of the leading Western brands. Alexander Sarychev, Zenden’s chief executive, revealed that the company, in the coming years, plans to accelerate the development of its sports brand Pulse, ...
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ArticleStuart Weitzman’s Q3 sales up a currency-neutral 10%
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $68 million in the fiscal third quarter ended on April 1, up by 7 percent year-on-year on a reported basis and by 10 percent at constant currency rates. “In the third quarter, we delivered 10 ...
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ArticleRelaxo’s FY revenues rise but earnings slip on higher costs
Relaxo Footwears, an Indian group that sells shoes under various brands including Sparx, Flite and Bahamas, posted revenues from operations of 2,783 crore rupee (€312.0m) in the full year ended March 31, up by 4.88 percent year-on-year. Total income grew by 4.65 percent to INR 2,801 crore (€314m). In the ...
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ArticleGeox trims 2023 sales target after 21% increase in Q1
Geox cut its 2023 target for sales growth to 4-6 percent from 6-8 previously, as weaker reorders in the multi-brand channel in April and the first week of May compared to the previous year have led it to have a more cautious view on its top line expectations. Sales in ...
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ArticleYue Yuen Q1 results impacted by soft global footwear demand
High inventory levels across the industry coupled with softer global footwear demand negatively impacted first-quarter results at Yue Yuen. For the period ended March 31, Ebit fell by 32.2 percent to $65.9 million from $97.1 million a year earlier. Net profit attributed to the company declined by 42.6 percent to ...
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ArticleTod’s’ Q1 sales beat expectations
With first-quarter sales coming in at €270.5 million, up by 23.2 perent year-on-year on a reported basis and by 23.3 percent at constant currency rates, Tod’s beat market expectations by about €20 million. Citi noted that the news was not a huge surprise considering the good performance posted over ...
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ArticleAsos’ losses widen as shoppers cut back on spending
Asos reported wider interim losses as shoppers cut back on spending amid the cost of living crisis in the U.K. Financial analysts are divided on the company’s future prospects with one broker warning that the troubled company may have to raise more cash. In the first half ended Feb. 28, ...
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ArticleWolverine explores options for Sperry
Wolverine Worldwide reported better-than-expected first-quarter results and said it was exploring options for its Sperry footwear and apparel brand as it works to reshape its business amid a deterioration in market trends since the start of the year, macroeconomic concerns and a cold spring selling season that has hit consumer ...
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ArticleAmazon posts 9% sales increase in Q1
Amazon.com, Inc. posted net sales of $127.4 billion in the first quarter of 2023, representing a 9 percent increase versus the first quarter 2022. Excluding the $2.4 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, the sales increase was of 11 percent. The operating income ...
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ArticleAllbirds reports wider loss but outlines cost-saving measures
Having already revealed plans to slow the pace of U.S. store openings, and a movement to a distributor model in key international markets, Allbirds reported a net loss of $35,166,000 in the first quarter of 2023 against a loss of $21,878,000 a year earlier. Operating expenses, which included more than ...
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ArticleAlpargatas looks to boost efficiency, seeks new CEO as sales and margins decrease in Q1
Alpargatas reported a decline in sales volumes, revenues and margins in the first quarter of 2023, as it focuses on boosting operational efficiencies amid a “challenging” demand scenario and persistent inflation. The Brazilian owner of the flip-flop sandal brand Havaianas is also looking for a new CEO following the resignation ...
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ArticleWeyco off to a ‘strong start’ in 2023 after sales increase 6% in Q1
Weyco Group generated sales of $86.3 million in the first quarter of 2023, a record for the first three months of the year and up by 6 percent from the previous record booked last year, as gains were posted in both its wholesale and retail segments in North America as ...
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ArticleRocky Brands suffers a sharp fall in Q1 sales due to excessive stocks at clients
In the first quarter of 2023, Rocky Brands suffered a 33.9 percent decline in sales to $110.4 million, driven by a 40.2 percent drop in wholesale sales to $80.1 million due to excess inventories at clients. Meanwhile, the company’s own retail sales increased by 3.1 percent to $29.5 million. Contract ...
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ArticleNext sees spring sales hit by weak consumption and colder weather
Next maintained its full-year earnings guidance after recording a smaller-than-expected drop in first-quarter sales, but warned it expects a bigger decline in revenues this spring, due to the cost of living crisis and colder weather than last year. Total full-price sales were down by 0.7 percent in the 13 weeks ...
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ArticleZalando near operating breakeven in Q1
Zalando was close to breakeven at operating level in the first quarter, but investors were spooked by news that demand remained “muted” and that orders came in below expectations, prompting a decline in the share price of the German online fashion retailer. Gross merchandise volume (GMV) rose by 2.8 percent ...
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ArticleVulcabras posts strong Q1 results
Despite unstable macroeconomic conditions and a challenging retail environment, the Brazilian Vulcabras group reported record revenues and strong gross margin and Ebit growth in Q1, which ended March 31. Ebit rose by 45 percent to 93.2 million Brazilian reais (€16.7m) as the year-over-year gross margin grew by 430 basis points ...
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ArticleAuthentic Brands Group buys the rights to the Vince brand
Authentic Brands Group (ABG) is purchasing the intellectual property of the Vince brand from Vince Holding Corp. for $76.5 million and a 25 percent stake ABG Vince, the vehicle through which the acquisition is being made. A part of the deal, Vince Holding will enter into an exclusive, long-term license ...
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ArticleSkechers lifts full-year guidance after strong Q1, but braces for continued domestic wholesale headwinds
Skechers raised its guidance for earnings and revenues for the full year after reporting better-than-expected results in the first quarter, when its top line rose by a reported 10.0 percent compared to the year earlier to reach a new record for the period of $2,001.9 million, coming in above an ...
