Financial Results – Page 14
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ArticleShoe Carnival sees growth resuming this year
Shoe Carnival expects its top line to grow by 4.0 percent to 6.0 percent in fiscal year 2024 after falling by 6.8 percent to $1,176 million the year earlier, as the recent acquisition of Rogan’s Shoes, continued strength at the Shoe Station banner, e-commerce growth and improving trends at its ...
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ArticleLloyd Shoes grows by 9% in 2023
Lloyd Shoes continued to grow last year “as a result of positive developments across all business areas”, despite a “difficult overall situation,” the German shoemaker announced. Sales were up by 9 percent in the 2023 financial year, climbing to €128 million, up from €114.95 million in 2022, when the ...
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ArticleGolden Goose’s sales rose 18% in 2023
In 2023, Golden Goose increased sales by 18 percent at constant exchange rates to €587 million, amid speculation that it is preparing to be listing on the Milan stock exchange. The Italian premium sneaker brand increased adjusted Ebitda by 19 percent to €200 million, and adjusted Ebit by 22 percent ...
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ArticleLululemon says response to footwear collection exceeds expectations
Lululemon said that the response to the launch in February of its new footwear collection, which includes its first models for men, “is exceeding” expectations. The Canadian producer of performance apparel for yoga, running and training entered the footwear market in March 2022 with the launch of its first running ...
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ArticleNext maintains its guidance despite expectations of lower full-price sales
Next maintained its guidance for the year ending in January 2025 despite warning that growth in full-price sales could slow down. The British fashion company said it is still expecting pre-tax earnings of £960 million (€1.12bn) based on a 2.5 percent increase in full-price sales, with a 5 percent rise ...
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ArticleDesigner Brands hit by a weaker footwear market
Designer Brands reported a decline in fourth-quarter sales due to a deterioration of the footwear market in North America. When announcing the results for the quarter ending on Feb. 3, the CEO, Doug Howe, said that the footwear company enjoyed a rebound in the latter part of the period but ...
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ArticleCaleres to bolster international presence with “outsized investments”
Caleres is focusing first on China as part of a strategy to build its international business, announcing the opening of 45 new Sam Edelman stores in the country this year and the return of its Naturalizer brand to China with 10 new stores in autumn 2024 and a digital relaunch. ...
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ArticleSpartoo posts a positive free cash flow
Spartoo booked a positive free cash flow of €0.7 million in 2023, compared with a negative €23.6 million in 2022, due to a reduction in working capital, thanks to a decrease in inventories, as well as a drop in investments to €1.3 million from €2.9 million. The group’s inventory fell ...
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ArticleDeichmann continues to grow in 2023
Deichmann continued to grow in 2023 despite difficult business conditions, especially in its home market. The German footwear retailer, which is present in 34 countries, generated gross revenues of €8.7 billion, or a net €7.4 billion, in 2023, up by just over 7 percent on a currency-adjusted basis. Like-for-like sales, ...
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ArticleGabor’s sales are steady
The German shoe manufacturer Gabor Shoes reported steady sales in the fiscal year 2023 after a sharp rebound in 2022 and announced a management reorganization. The company, based in Rosenheim, in Upper Bavaria, said that total sales of all brands including licenses reached €322 million last year, less than 1 ...
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ArticleYue Yuen’s profit, sales slip in 2023
Yue Yuen, the globe’s largest manufacturer of footwear, suffered a down year in 2023 due to inventory de-stocking by retailers worldwide and conservative ordering by its portfolio of brand clients that include Nike, Adidas, Asics and New Balance, among others. Yue Yuen’s annual Ebit declined by 5.6 percent to $390.2 ...
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ArticleInditex posts record full-year sales and earnings
Inditex posted record sales and earnings in the full year ended Jan. 31 and announced an extraordinary plan to invest €1.8 billion over the next two years to increase its logistics capacities. Full-year sales rose by 10.4 percent to €35.9 billion. The top line grew by 14.1 percent at constant ...
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ArticleZalando aims to resume growth and cover 15% of the European fashion market
Zalando posted lower sales in 2023 but expects to at least stabilize revenues this year and resume growth from 2025. The German online fashion group also outlined its long-term plans to cover 15 percent of the European fashion market. In 2023, the gross merchandise volume (GMV) decreased by 1.1 percent ...
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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 ...
