Financial Results – Page 17
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ArticleBelow-average order rates continue to impact Yue Yuen
Profit attributable to Yue Yuen fell by 49 percent to $137.7 million for the nine months ended Sept. 30 from $270.1 million a year earlier, as sales declined by 14.1 percent to $5.99 billion from $6.97 billion. Manufacturing revenues declined by 20.9 percent year-over-year to $3.79 billion. Ebit sunk by ...
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ArticleArezzo sales up 13% in Q3 despite lower shoe, handbag volumes
Arezzo & Co posted gross revenues of 1,583 million Brazilian reais (€300.4m) in the third quarter of 2023, up by 12.7 percent compared to the year earlier and underpinned by an increase in full-price sales that helped to offset a drop in sales volumes for shoes and handbags. The number ...
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ArticlePollini’s sales growth turns negative
Pollini, the luxury footwear brand owned by the Italian fashion house Aeffe, posted sales of €8.9 million in the third quarter of 2023, down by 16.5 percent from a year earlier, resulting in a 4.2 percent drop in the first nine months to €26.1 million. In the first half of ...
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ArticleJimmy Choo’s sales fall on weaker consumer demand
In the second quarter ended Sept. 30, Jimmy Choo posted revenues of $132 million, down by 7.0 percent year-over-year on a reported basis and by 9.2 percent at constant currency rates due primarily to a softening in consumer demand, mainly in the Americas. Revenues in the Americas declined by 11.6 ...
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ArticleStuart Weitzman sales drop on lower off-price shipments, slower recovery in China
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $52.6 million in the fiscal first quarter ended on Sept. 30, down by 19 percent year-over-year on a reported basis and by 18 percent at constant currency rates. “Results in the quarter were pressured against ...
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ArticleGeox’s store rationalization ‘almost’ completed
Geox said that the rationalization of its network of mono-brand stores is “almost” completed. The Italian footwear company has slashed the network from 974 units at the end of 2019 to 656 at the end of September and expects to finish 2023 with 655 stores. Over the past 12 months, ...
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ArticleTod’s’ sales growth stalls in Q3
Tod’s‘ sales in the third quarter of 2023 rose by 1 percent year-over-year to €259.0 million due to a challenging comparison base and adverse exchange rates. At constant currency rates, the top line grew by 5 percent. In the first half of the year, the Italian fashion group had enjoyed ...
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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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ArticleAllbirds sees Q4 sales down by 15-22%
Citing a negative impact on revenues due to its transition to a direct selling model in both Canada and South Korea, as well as plans for “heightened” promotional activity during the holiday season, Allbirds expects fourth-quarter revenues to sink by 15 to 22 percent to a range of $66 million ...
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ArticleAlpargatas reports a Q3 loss despite improving trends
Despite reporting 23 percent less unit volume to 51 million pairs, a 10.4 percent drop in period revenues to $896 million (€171.7m), and a net loss of R$8.5 million (€1.6m), Alpargatas realized improving trends in product sellthrough levels in the third quarter ended Sept. 30. The result was a normalization ...
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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 ...
