Financial Results – Page 5
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Next hikes its FY guidance again
Next reported in the third quarter ended Oct. 28 full-price sales up by 4.0 percent on last year, £23 million (€26.5m) ahead of the British fashion retailer’s guidance which was for a 2.0 percent increase. Full-price sales achieved online were up by 6.5 percent year-over-year in the quarter, and by ...
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VF drops guidance, launches turnaround plan
Admitting its U.S. business “isn’t working well” and its cost structure is too high, VF Corp. reported its second-quarter results with a comprehensive plan to turn around its flagging businesses under CEO Bracken Darrell, who joined the group in late July. Key elements of the strategy focus on fixing its ...
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Deckers raises full-year guidance again, plans to divest Sanuk
Bolstered by sales contribution from its Ugg brand and continued momentum in its Hoka business, Deckers Brands generated a 76 percent increase in second-quarter operating income to $224.6 million on nearly 25 percent total net sales growth to $1.09 billion for the three months ended Sept. 30. Net income was ...
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Skechers raises full-year earnings guidance as DTC continues to bolster Q3 sales gains
Skechers once again raised its earnings guidance for the full year after reporting better-than-expected results in the third quarter and despite continued uncertainty about the macroeconomic environment and consumer spending. Sales in the three months ended Sept. 30 reached a record $2,025.0 million, up by 7.8 percent compared to the ...
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Hermès could consider investments in Italian shoe, fashion suppliers
Hermès could invest in some of its Italian footwear and fashion suppliers to further integrate its supply chain, said Eric du Halgouët, the company’s executive vice president of finance. “We could consider vertical integration with investments to consolidate partnerships with some suppliers that share our standards,” he said during a ...
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Stella benefits from demand for premium categories
Stella International Holdings, the Hong-Kong based footwear manufacturer and retailer, said that in the third quarter of 2023 it posted a decline in manufacturing revenues to $377.1 million from $453.6 million a year earlier as footwear shipment dropped to 12.2 million pairs from 15.0 million. Shipments were affected by a ...
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Ferragamo misses sales expecations in Q3
In the third quarter of 2023, Salvatore Ferragamo’s sales fell by 16 percent to €244 million euros, about €5 million below the market consensus. Citi noted that the deterioration in third-quarter sales was expected, but stressed that the brand seems to have suffered more than its peers from macroeconomic headwinds. ...
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Nice Footwear FY sales up 43.1%
In the full year ended on April 30, 2023, Nice Footwear posted sales of €46.9 million, up by 43.1 percent from a year earlier, while net profits surged by 122.7 percent to €2.8 million, beating the company’s own expectations. The Ebitda of the Italian footwear company rose by 75.0 percent ...
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Shoe Zone's FY revenues rise 6.1%
Shoe Zone said that in the full year ended Sept. 30 revenues increased by 6.1 percent year-on-year to £165.7 million (€190.9 million), with store revenues growing to £134.8 million (€149.6m) from £129.8 million and digital revenues increasing to £30.9 million (€35.6m) from £26.4 million. Digital revenues now represent 18.7 percent ...
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CCC Group posts softer sales in Q3 led by the CCC and eobuwie banners
With most of its fiscal third quarter over, CCC Group has registered softer sales, amid above average temperatures through September and weakened “but slowly recovering” consumer demand. In the period from Aug. 1 to Oct. 10, sales at the Polish footwear and fashion group were down by 4 percent compared ...
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LVMH’s sales growth slows down in Q3
LVMH’s fashion and leather goods division posted revenues of €30.912 billion in the first nine months of 2023, up by a reported 11 percent and by 16 percent organically. However, third-quarter sales only rose by an organic 9 percent year-over-year compared with a 20 percent growth in the first half ...
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Caleres to leverage lead brands to resume growth in 2024 after September sales disappoint
Caleres warned that its third-quarter and full-year sales are likely to come in at the lower end of guidance following a disappointing sales season in September, as unseasonably warm temperatures, higher interest rates and the impending Oct. 1 end to a student loan moratorium in the U.S. put a damper ...
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Spartoo’s H1 sales decline but earnings improve
In the first half of 2023, Spartoo saw its gross merchandise value (GMV) decrease by 2.6 percent compared to the year earlier to €101.6 million and revenues excluding value-added tax slipped to €72.9 million from €73.9 million. The percentage of GMV generated by brands owned by the French retailer increased ...
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Boohoo cuts its sales guidance
Boohoo has warned that full-year sales are likely to fall more than expected after a weak first half of the fiscal year. The British online fashion retailer said that in the six months to Aug. 31 revenues fell by 17 percent year-on-year to £729.1 million (€841.2m), with domestic sales down ...
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Birkenstock valued up to $9.2bn in IPO
Birkenstock has set a value of up to $9.2 billion at the top end of the price range for its initial public offering (IPO), or more than seven times its annual sales. Birkenstock Holding Limited, which is registered in Jersey and has its headquarters in London, has filed for an ...
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C & J Clark International hit by post-Covid supply issues, but group results step ahead
C & J Clark International reported lower turnover and profits last calendar year as post-Covid pandemic supply chain issues hit stock availability. The company is the unit of the Clarks group that manages the activities in the U.K., all of the wholesale business in Asia as well as some of ...
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Asos lowers guidance as wet summer hits U.K. sales
The British online fast fashion retailer Asos said that operating profits for the full year will come in at the bottom end of expectations and free cash flow will be significantly lower than guidance after domestic sales in July and August were hit by wet weather. In a fourth-quarter trading ...
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Leder & Schuh reports strong increase in sales for 2022
Austria’s Leder & Schuh, one of Europe’s largest shoe retailers, reported a strong increase in sales in 2022, confirming the previous year’s positive sales trend. Revenues rose to €351 million from €280 million in 2021, an increase of around 25 percent. The company’s gross profit rose to €147.5 million ...
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Next lifts guidance again as strong summer, wage rises boost sales
Next lifted full-year guidance for the third time in four months after better-than-expected summer sales and said easing inflationary pressures could see a fall in prices next year. Pre-tax profits are now forecast to come at £875 million (€1bn) from a previous guidance of £845 million (€974.2m), with the brand ...
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Birkenstock’s 9-month sales up 21%
Birkenstock’s sales in the nine-month period ended June 30, 2023, rose by 21 percent to €1,117 million as the number of units sold grew by 5 percent and the average selling price increased by 15 percent. Direct-to-consumer penetration grew to 37 percent of revenues over the period from 34 percent ...