Financial Results – Page 2
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ArticleAllbirds names a new CEO as losses continue to grow
Allbirds appointed its chief operating officer, Joe Vernachio, as its new CEO and member of the board of directors, effective March 15. He succeeds Joey Zwillinger, the co-founder and CEO, who will continue to serve as a member of the board and as a special advisor to the company. With ...
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ArticleGenesco sees sales decline continuing as Journeys turnaround takes time
Genesco expects another decline in sales this year, after revenues in the year ended Feb. 3 fell by 2.5 percent to $2.3 billion, landing in the middle of its latest guidance of a 2-3 percent drop. The company expects total sales in the current financial year to fall by 2 ...
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ArticleInforma hikes its 2024 guidance
Informa is enjoying “strong” trading in the first quarter of 2024 and forward visibility, prompting it to increase its guidance for 2024. It noted that more than £500 million (€587m) of revenues were already delivered in 2024, with a further £1 billion (€1.2bn) in subscriptions and other forward booked revenues ...
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ArticleCoats sees recovery in footwear as customer destocking winds down
Coats expects modest revenue growth in 2024 as its markets started to recover in the second half of last year, helping it to deliver higher 2023 profits. The British group, which makes threads and components for the footwear and clothing industries, said destocking of inventories by footwear customers had lagged ...
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ArticlePrada posts strong fourth-quarter results
Prada Group finished 2023 on a strong note with its top line growing by 18.1 percent year-over-year at constant currency rates and retail sales up by 17.4 percent in the fourth quarter. “In addition to Prada’s solid momentum, Miu Miu ended an amazing year with remarkable growth,” pointed out the ...
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ArticleFerragamo’s full-year profits shrink on weaker sales, higher investments
Salvatore Ferragamo’s full-year net profit plummeted by 59 percent to €26 million as total revenues fell by a reported 7.6 percent, and 8.1 percent in local currencies, to €1,157 million, with all categories, channels and regions, except the Europe, Middle East and Africa (EMEA) area, lower. The company had already ...
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ArticleGrendene’s Q4 bottom line underpinned by lower raw material costs
Grendene realized 13 percent year-over-year Ebitda growth to 168.2 million Brazilian reais (€31.3m) in the fourth quarter of 2023, while the net profit grew by 20 percent higher to R$243.0 million (€45.2m) as lower raw material costs offset weak sales. Fourth-quarter net revenues slipped by 0.4 percent to R$760.8 million ...
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ArticleBirkenstock reassures investors on profits, makes progress in closed-toe shoe sales
Birkenstock reassured investors that the pressure on profits from its ongoing production capacity investments is only temporary and will set the stage for future expansion. The company confirmed its guidance for top-line growth of 17-18 percent at constant foreign exchange rates in the current fiscal year. Sales in the first ...
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ArticleRocky Brands’ Q4 sales fall 9.3% amid unexpected headwinds
Rocky Brands reported sales of $126.0 million in the fourth quarter of 2023, down by 9.3 percent compared to the year earlier but still an improvement on the previous quarter and the slowest rate of sales decline for the year. Sales were down by 6 percent when service brand sales, ...
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ArticleSteve Madden’s Q4 results beat expectations
In the fourth quarter of 2023, Steve Madden’s revenues and bottom line come in above the group’s expectations. Quarterly sales increased by 10.4 percent year-on-year to $519.7 million, while the gross profit margin slipped to 41.3 percent from 42.2 percent. The adjusted gross profit margin was 41.7 percent. The turnover ...
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ArticleSergio Rossi posts a decline in FY revenues due to a weak H2
Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods firm Lanvin Group, finished 2023 with a 4 percent decline in revenues to €60 million after suffering a 24 percent drop in the top line to €27 million during the second half of the year. During the first six ...
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ArticleCCC Group posts record Q4 sales as margins rise sharply
CCC Group generated revenues of 2.5 billion zloty (€579.4m) in its fourth quarter ended Jan. 31, 2024, a new quarterly record and up from the PLN 2.4 billion posted the year earlier, as off-price banner Halfprice continued to lead the way with 53 percent growth in its top line. The ...
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ArticleWolverine makes progress on turnaround but more bumps likely
Six months on the job, Wolverine World Wide’s president and CEO, Chris Hufnagel, had to oversee changes in many aspects of the group’s overall business, including excess inventory, shedding businesses, lowering debt levels, and improving the supply chain. Progress has been made, but the turnaround will take more time ...
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ArticleCrocs brand starts 2024 with momentum but $5bn sales target will take longer to reach
The Crocs brand has started 2024 “with momentum,” after sales in 2023 jumped by 14 percent to $3.0 billion, but management now expects it will take a bit longer to reach a $5.0 billion 2026 sales target unveiled in 2021. “I don’t think it’s realistic to achieve the $5 billion ...
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ArticleShoe Carnival buys Rogan Shoes
Shoe Carnival has acquired Rogan Shoes, a 53-year-old work and family footwear company with 28 stores in Wisconsin, Minnesota and Illinois which trade under the Rogan’s Shoes banner, for a purchase price of $45 million. The US footwear retailer expects the acquisition to be immediately accretive to its fiscal 2024 ...
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ArticleBasicNet’s revenues inch up 3%
BasicNet generated consolidated revenues of €398.6 million in 2023, up by 2.7 percent from the year earlier, as aggregate group brands revenues slipped by 10.4 percent to €1.14 billion, preliminary results show. The Italian company, which is the parent of such brands as Kappa, Robe di Kappa, K-Way, Superga and ...
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ArticleAlpargatas’ Q4 results hit by write-offs
Write-offs totalling 64 million Brazilian reais (€12.0m) in raw materials and finished goods affected fourth-quarter adjusted Ebitda at Alpargatas. The Brazilian footwear group ramped up its capital discipline in the latter months of 2023 because of a “significant reduction” in sell-ins, itself due to high levels of inventory at retail. ...
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ArticleJimmy Choo’s Q3 sales and profitability decline
In the third fiscal quarter ended on Dec. 30, Jimmy Choo posted revenues of $166 million, down by 1.2 percent compared with the prior year on a reported basis and by 3.0 percent at constant currency rates. The brand’s retail sales were approximately flat, while wholesale revenue decreased by a ...
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ArticleVF starts a strategic review of its assets
VF Corp., whose current portfolio includes The North Face, Vans, Timberland and Dickies, has initiated a strategic review of its brand assets. The announcement comes after the company’s shareholder Engaged Capital made in October a presentation “highlighting the actionable and significant opportunities for long-term value creation at the company.” According ...
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ArticleDeckers announces CEO change as record-breaking streak continues
After another record-breaking quarter, Deckers has announced that Dave Powers will retire as president and chief executive officer on Aug. 1 and will be replaced by the current chief commercial officer, Stefano Caroti. Powers retires after 13 years at the helm, during which Deckers grew explosively, although he will continue ...
