Financial Results – Page 5
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ArticleWolverine lowers outlook as overhaul moves forward
Wolverine World Wide’s third-quarter results weren’t pretty, but they did exceed Street estimates on several fronts as the Merrell, Saucony, and Sweaty Betty parent moved forward with numerous initiatives aimed at reducing annualized costs by $215 million and turning the company’s fortunes in the right direction again. Net income ...
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ArticleSteve Madden enjoys strong growth in Europe
In the third quarter of 2023, Steve Madden enjoyed strong growth in Europe, but the performance in the region was not sufficient to enable the U.S. company to increase overall sales during the three-month period. “Our EMEA (Europe, Middle East and Africa) region was a standout,” commented Edward Rosenfeld, the ...
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ArticleWeyco expects another sales decline in Q4
Weyco Group said it anticipates another decline in sales in the fourth quarter of 2023 in the face of a drop in consumer demand and an inventory backlog among wholesalers. “Not only are we going up against a strong fourth quarter last year, but retail market conditions remain challenging as ...
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ArticlePrimark expected to grow sales and earnings in 2024
Primark, the fast-fashion retailer owned by Associated British Foods (ABF), posted sales of £9.0 billion (€10.4bn) in the full year ended Sept. 16, up by 17 percent at actual exchange rates and 15 percent at constant currency rates. Like-for-like sales growth was 8.5 percent for the year. ”Trading was much ...
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ArticleBoot Barn cuts guidance as sales continue to soften through October
Boot Barn cut its guidance for the full year after its sales performance progressively worsened during the second quarter ended on Sept. 30 and continued to soften at the start of its third quarter, amid signs of slowing consumer demand. Boot Barn now expects to post full-year sales of $1,677 ...
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ArticleCrocs taking steps to reset Heydude business
There will be some immediate pain, largely negative wholesale growth in the fourth quarter, as Crocs takes additional steps to shore up the fortunes of its Heydude business. Those efforts are focused on distribution clean-up, greater segmentation by distribution channel coupled with stronger control of digital pricing, and the establishment ...
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ArticleRocky Brands margins, profits rise in Q3 despite 15% sales decline
Rocky Brands posted higher profits and margins in the third quarter of 2023, benefiting from lower freight costs, improved distribution center efficiencies and an increased share of higher-margin retail sales. Profitability gains came despite a decline in the top line, which decreased by 14.8 percent to $125.6 million in the ...
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ArticleZalando cuts its full-year guidance for GMV, revenues
After third-quarter revenues were affected by a “macroeconomic environment of low consumer sentiment and declining online sales”, Zalando cut its full-year gross merchandise volume (GMV) and revenues expectations due to continued pressure on demand for the rest of the year. “The quarter was also adversely impacted by the warmest September ...
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ArticleNext 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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ArticleVF 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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ArticleDeckers 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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ArticleSkechers 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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ArticleHermès 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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ArticleStella 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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ArticleFerragamo 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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ArticleNice 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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ArticleShoe 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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ArticleCCC 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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ArticleLVMH’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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ArticleCaleres 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 ...
