Financial Results – Page 12
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Nordstrom 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, ...
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Coats’ 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 ...
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Görtz 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 ...
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Primark 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 ...
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Rocky 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 ...
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Steve 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 ...
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Farfetch 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 ...
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Wolverine 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, ...
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Sergio 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 ...
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Crocs 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 ...
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Gabor 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 ...
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Alpargatas swings to Q4 loss as inflation erodes purchasing power
Alpargatas, the Brazilian owner of the flip-flop sandal brand Havaianas, reported a decline in sales volumes and a bottom-line loss in the fourth quarter of 2022, rounding out a year that fell short of management expectations as inflation cut into households’ disposable income. In January, overall annual inflation in Brazil ...
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Stuart Weitzman’s Q2 sales down nearly 24%
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $85 million in the fiscal second quarter ended Dec. 31, down 23.6 percent year-on-year at constant currency rates. “Revenue declined in the quarter, impacted by the brand’s significant exposure to China as well as a ...
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VF takes action to improve performance, divesting pack brands
VF Corp. is vowing to take all necessary actions to improve its operating performance heading into its FY24
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ANWR Group FY revenues rise nearly 10%
ANWR Group reported a 9.6 percent increase in business volumes to €21.7 billion in 2022 driven by the footwear, sports and leather goods divisions, which posted double-digit growth. “This is a remarkable development given the challenging conditions we faced in 2022,” said Frank Schuffelen, the CEO of the German ...
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Jimmy Choo’s quarterly sales hit by Covid resurgence in China
In the fiscal third quarter ended Dec. 31, Jimmy Choo posted revenues of $168 million, down by 5.6 percent year-over-year on a reported basis but up by 3.4 percent at constant currency rates. The brand’s performance was affected by the surge in Covid-19 cases in China as the country reopened. ...
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Deckers raises sales and earnings guidance after better-than-expected Q3
Deckers Brands raised its sales and earnings guidance for the full financial year after revenues in the third quarter ended Dec. 31 rose by 13.3 percent to $1,346 million, beating analysts’ expectations for a top line of about $1,250 million and supported by a near doubling in sales of the ...
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Skechers looks to produce in India as Q4 sales jump 14%
Skechers said it is planning to begin production in India, one of its fastest growing markets in the Asia Pacific region. Sales in the country displayed “particular strength” in the fourth quarter of 2022, as the company’s overall top line jumped by 13.5 percent to $1,878.8 million billion to reach ...
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Geox eyes operating profit as 2022 sales jump 21%
Geox said it expects to post an operating profit in 2022 after three years in the red, as it benefits from higher-than-expected sales and a restructuring that has allowed it to cut costs and channel investments to more strategic areas of its business. According to preliminary figures from the Italian ...
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Lloyd reports strong sales increase, expects to return to pre-Covid sales in 2023
Lloyd Shoes posted a strong sales growth in 2022 and anticipates a bright year ahead. The German shoe maker recorded a 47 percent increase in sales in 2022 to €114.95 million, driven by improvements across all business areas, and expects to return to pre-pandemic sales levels in the current ...