Financial Results – Page 11
-
ArticleArezzo starts 2023 with 23% growth in DTC sellout after record 2022
Arezzo & Co began 2023 with continued momentum after a record sales performance in 2022, wrapping up two acquisitions and registering a 22.8 percent increase in direct-to-consumer (DTC) sellout to 611 million reais (€110.2m) in the first two months of the year. Management said that the performance in January and ...
-
ArticleGeox confirms sales growth targets, to continue with DOS closures
Geox confirmed its 2023 targets for 6-8 percent sales growth and a further improvement in profitability, as it revealed a €4.3 million operating profit in 2022 after three years of losses. The result compared to an operating loss of €44.9 million in 2021 and was achieved as a restructuring aimed ...
-
ArticleGenesco to focus on cost-cutting this year
Citing a rapidly changing consumer environment, Genesco is making numerous changes to its business as it braces for a challenging first half ahead of an anticipated better second half of the year. The current full-year outlook calls for total sales of flat to up 2 percent and earnings per share ...
-
ArticleWeyco sales inch down in Q4 due to North American wholesale
Weyco Group posted sales of $99.0 million in the fourth quarter of 2022, a decline of 2 percent compared to the year earlier that had been expected due to the fact some wholesale orders in the third quarter of 2021 had been shifted to the fourth quarter amid supply chain ...
-
ArticleAllbirds’ Q4 loss widens; company sets transformation plan
Allbirds completed its first full year as a public company by reporting a $25.5 million operating loss versus an operating loss of $6.4 million in the period ended Dec. 31. The net loss was $24,866,000 against a net loss of $10,444,000. Promotion and the discontinuation of first-generation apparel contributed to ...
-
ArticleZalando sees operating profits improving in 2023
Zalando expects its operating profits to improve this year, after declining in 2022, and sees its Ebit margin reaching the upper end of its guidance by 2025. The German online fashion retailer reported that in 2022 its gross merchandise value (GMV) rose by 3.2 percent to €14.798 billion from €14.333 ...
-
ArticleGrendene sales suffer, outlook uncertain as consumers’ disposable income shrinks
Grendene generated fourth quarter revenues of 938.0 million reais (€169.6m), down by 0.9 percent on the year earlier as high inflation, interest rates and unemployment put a dent into the disposable income of consumers and below-average temperatures and political uncertainty in its home market of Brazil further hurt demand. Domestic ...
-
ArticleFerragamo warns that inflation may further erode margins in 2023
Salvatore Ferragamo warned that its 2023 operating margins could be slightly lower than last year due to higher costs, which could put pressure on the stock price of the Italian fashion house which is already trading at lofty multiples. The average target price for financial analysts is around €16.14 compared ...
-
ArticleGarmont's sales rise 60%, Germany remains the main market
Garmont, the Italian outdoor footwear company founded in 1964, reported sales of €40.5 million in 2022, up by 60 percent from the previous year, and an Ebitda margin of more than 16 percent. ”In 2022 we defined a strategy that allowed us to maintain our market positions while taking into ...
-
ArticleNordstrom exits Canada
Nordstrom is exiting Canada, a market it entered in 2014 with “a plan to build and sustain a long-term business there,” announced Erik Nordstrom, the chief executive officer of the U.S. retailer. The Canadian business operates six Nordstrom stores and seven Nordstrom Rack units, as well as the Nordstrom.ca website, ...
-
ArticleCoats’ Apparel & Footwear sales up organic 9% in 2022
In 2022, Coats’ revenues rose by a reported 9 percent to $1.548 billion. On a constant currency basis, the top line was 16 percent higher and organic growth reached 10 percent, ahead of a targeted medium-term growth of about 6 percent. The Apparel & Footwear (A&F) dvisision saw full-year organic ...
-
ArticleGörtz brings in new investor to exit insolvency procedure
The insolvent German footwear chain Görtz has found a new investor. Currently undergoing a restructuring under a self-administration procedure, the ailing Hamburg-based company said that, after an “intensive process and extensive discussions with many interested parties,” the provisional creditors’ committee has picked a long-term oriented private investor. Görtz did ...
-
ArticlePrimark lifts guidance as consumers start shopping early for summer
Primark’s parent company, Associated British Foods (ABF), has lifted full-year guidance as consumer spending proved to be more resilient in the first half, with Britons buying early for the summer holidays and inflation easing. The group now expects adjusted operating profit in the 24 weeks to March 4 to ...
-
ArticleRocky Brands sees 2023 sales down 7-9% after 18% dip in Q4
Rocky Brands said it expects sales to decline by about 7-9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022 as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
-
ArticleSteve Madden sees about 20% drop in wholesale revenues in H1
Steve Madden expects an about 20 percent drop in wholesale sales, which represent nearly 60 percent of its top line, during the first half of 2023 as clients reduce orders to reduce excessive inventories. In a conference call with financial analysts, the company’s chairman and CEO, Edward Rosenfeld, noted that ...
-
ArticleFarfetch Q4 sales dip 5%, profits squeezed but company sees ‘solid’ start to 2023
Farfetch reported a decline in revenues and gross merchandise value in the fourth quarter of 2022, a year marked by “unprecedented macro headwinds”, but said it was on better footing in 2023 after completing a strategic revamp and confirmed its guidance for growth in gross merchandise value (GMV) and an ...
-
ArticleWolverine Worldwide forecasts meaningful profit progress in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
-
ArticleSergio Rossi more than doubles 2022 sales
Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods Lanvin Group, posted sales of €61.9 million, up by 116 percent from a year earlier, outperforming the rest of the group. Lanvin Group increased overall revenues by 38 percent to €424.5 million. Sales for the Lanvin brand grew by ...
-
ArticleCrocs brand gains traction in EU; Heydude prepares for expanded distribution
Coming off a year when global revenues rose by nearly 54 percent to more than $3.5 billion and adjusted operating margin hit 28 percent, Crocs continues to see markets outside the U.S., including Europe, as important growth vehicles for both of its brands. In Q4, Crocs brand sales rose 75.6 ...
-
ArticleGabor resumes growth in 2022 after the pandemic collapse
The German shoe manufacturer Gabor returned to growth in 2022 as it recovers from the Covid-19 downturn. The top line however still remains about 10 percent below the level achieved in 2019, the year prior to the outbreak of the pandemic. The Rosenheim-based company reported sales of €325 million, for ...
