Financial Results – Page 14
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Europe drives Ferragamo’s sales higher
Salvatore Ferragamo reported a growth in sales and profits in the first nine months of 2022, thanks to a positive performance in both distribution channels and a strong increase in revenues in the Europe, Middle East and Africa (EMEA) business region. The Italian fashion house posted a 17.2 percent rise ...
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Allbirds Q3 losses widen, warns of “choppy” holiday trading
Sustainable footwear and clothing brand Allbirds has posted wider third-quarter losses and warned of “choppy” trading conditions in the run-up to Christmas. The company said net losses increased to $25.2 million from $13.8 million a year ago, and net loss margin increased to 35 percent from 22 percent. Operating losses ...
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Wolverine establishes new brand structure, sets bigger focus on profit
Shares in the parent company of Merrell, Saucony, Keds and Sweaty Betty declined more than 34 percent on Nov.9 after it missed its third-quarter earnings target and lowered its guidance for the FY. Wolverine World Wide Inc.’s shares are down 59 percent year-to-date. The full-year outlook calls for 14 percent ...
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Primark freezes prices and writes down German business
Primark is freezing prices despite soaring inflation and is also taking a writedown and reviewing its store estate at its German business. The British clothing retailer recorded total sales of £7.7billion (€8.83bn) for the year to Sept. 17, up by 43 percent on last year, as U.K. like-for-like sale and ...
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Clarks focuses on China and U.K. after returning to a profit
Clarks swung to a profit in the 2021/2022 fiscal year thanks to reduced discounting and a better product mix. The British company is targeting a return to pre-Covid turnover levels within three years. The 197-year-old brand started a five-year reorganization program to cut costs under the guidance of its new ...
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Grendene takes over the management of its Melissa Club franchise
Grendene has taken over the management of its network of Melissa Club stores in Brazil after putting an end to an agreement with Multi Franqueadora, which acted as master franchiser. ”By internalizing the management of the franchise network, the company aims to gain more control of the channel, accelerate the ...
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Steve Madden cuts full-year guidance on order intake
Steve Madden reported third-quarter results in line with market expectations but slightly reduced its full-year guidance due to a slowdown in orders. In the period ended Sept. 30, the company posted a 5.3 percent increase in revenues year-over-year to $556.6 million. Sales for the wholesale business increased by 8.1 percent ...
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Article
Havaianas’ growth in EMEA slows for Alpargatas
Alpargatas generated a 5.4 percent (+21 percent currency neutral) sales growth to 132.0 million Brazilian reais (€32.5m) for its rubber sandal brand in the EMEA during the third quarter. Revenues per pair increased by 4 percent in constant currency. Overall, Havaianas’ sales fell in all other geographic regions, although they ...
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Crocs raises guidance after another strong quarter
Strong third-quarter results at Crocs were negatively impacted on the gross margin line by inflationary expenses and higher freight and inventory handling costs, but 45 percent of the expenses are seen as transitory. Gross margin came in at 54.9 percent against 63.9 percent in the year-ago period ended Sept. 30. ...
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Rocky Brands lowers FY revenue outlook
Despite reporting steady or strong sales from its portfolio of footwear brands during the third quarter, Rocky Brands has lowered its full-year revenue outlook due to a difficult, year-over-year sales comparison in the fourth quarter. Through nine months, the parent of the Durango and Georgia brands, among others, had a ...
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Weyco expects sales dip after record Q3
Weyco Group generated record sales in the third quarter of 2022, with revenues jumping by 56 percent compared to the year earlier to $97.0 million. Growth was led by its North America wholesale business and underpinned by strong consumer demand, higher selling prices and the “abnormally low” revenues seen in ...
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Zalando resumes growth in Q3
In the third quarter of 2022, Zalando’s net loss widened to €35.4 million from €8.4 million a year as capital expenditure grew to €77.0 million from €57.7 million. However, the German online fashion retailer resumed sales growth after a weak first half. In the third quarter, the gross merchandise volume ...
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CCC to raise funds, restructure debt
CCC Group announced plans to extend the duration of financing set to mature in the first half of 2023 and has called an extraordinary general meeting of shareholders on Nov. 17 to discuss equity financing of up to 500 million zloty (€106.3m) as it looks to raise fresh cash to ...
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Vulcabras’ operating margin narrows in Q3
Vulcabras’ recurring net income rose by 36 percent to 99.9 million Brazilian reais (€19.6m) in the third quarter of 2022 from R$73.6 million a year earlier. Ebitda declined by 4.8 percent to R$132.2 million (€25.9m) from R$138.9 million and the Ebitda margin narrowed by 6.0 percentage points to 19.9 percent. ...
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Article
Deckers sees big potential for Hoka brand
Deckers Brands believes its Hoka brand, already wildly successful, has plenty of upsides ahead as a head-to-toe brand serving running, trail and hiking consumers worldwide like rivals Salomon and VF Corp.’s North Face, and less like running-centric Brooks. “We are re-looking at our category approach,” proclaimed Dave Powers, president ...
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VF braces for weaker consumer environment, lowers FY outlook
VF Corp is maintaining its full-year revenue growth guidance of 5-6 percent, citing its balanced portfolio and a building recovery in China as two examples, but has lowered expectations on some key financial metrics due to currency headwinds, higher inventory levels and a more promotional environment. The North Face parent ...
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Boot Barn lowers its full-year guidance
Boot Barn topped expectations in the second fiscal quarter but slightly reduced its full-year guidance due to market uncertainty. In the three months ended Sept. 24, the California-based shoe retailer posted sales of $351.5 million, up by 12.4 percent compared to the previous year, better than the company’s expectations of ...
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Zegna Q3 sales up 27.5%
The Italian fashion house Ermenegildo Zegna, owner of the Zegna and Thom Browne brands, generated revenues of €357 million in the third quarter of 2022, up by 27.5 percent compared to the year earlier. Revenues for the first nine months of the year reached €1.09 billion, 22.9 percent higher than ...
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Skechers cuts Q4 outlook as Q3 net dips
Skechers, impacted by $50 million in incremental freight and logistics costs and elevated operating expenses, reported a 17 percent decline in third-quarter profit to $85.9 million from $103.1 million for the period ended Sept. 30. Operating expenses were nearly 20 percent higher at $754.0 million, and gross margin was down ...
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Shoe Zone lifts earnings guidance as revenues surge
Shoe Zone lifted its earnings guidance after full-year revenues surged by a third as stores were fully open during the business year after the easing of Covid-19 related lockdowns. The British footwear retailer now expects adjusted pre-tax profits for the year ended on Oct. 1 to be at least £11 ...