Financial Results – Page 20
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ArticleVF cuts its FY revenue guidance
VF Corp., the parent of brands such as Vans, Timberland and The North Face, reporting a loss of $57.4 million in the first quarter ended July 1 against a loss of $55.96 million in the year-ago period on an 8 percent revenue decline to $2.09 billion from $2.26 billion. Adjusted ...
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ArticleSkechers raises earnings guidance for the year as DTC, international operations shine in Q2
Skechers raised its guidance for earnings in the full year, after its direct-to-consumer (DTC) and international operations performed strongly in the second quarter ended June 30. While its domestic wholesale business underperformed as expected, overall revenues rose by a reported 7.7 percent to $2,012.5 million and were 9.1 percent higher ...
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ArticleConcern about a slowdown at Heydude weighs on Crocs
Crocs Inc. generated more than $1 billion in second-quarter revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance on to surpass the $4 billion mark, but the company’s share price plummeted 14 percent on the day on worries that the group’s pace of revenue growth, particularly ...
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ArticleHoka paces Deckers in Q1, company lifts FY guidance
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in net income to $63.6 million in the first quarter ended June 30 versus $44.8 million a year earlier. Operating income was 26 percent higher year-over-year at $70.7 million. ...
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ArticleTod’s’ H1 sales rise 21.7%, Ebit expected to double
Tod’s released preliminary sales data for the first half of 2023 that come in at €569.1 million, up by 21.7 percent year-on-year on a reported basis and by 22.8 percent at constant currency rates. The figure was in line with market expectations. Financial analysts expect that the Italian fashion house ...
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ArticlePrada’s footwear sales rise 20% in H1
In the first half of 2023, footwear sales for the Prada group in the retail channel rose by 20 percent at constant currency rates to €374 million. Shoes represented 19 percent of the group’s quarterly retail sales. The group posted growth in all footwear collections: lifestyle, sneakers and formal. Growth ...
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ArticleStella Q2 sales momentum improves in Q2
Stella International, the Hong-Kong based footwear manufacturer and retailer, said that in the second quarter of 2023 it posted a 3.1 percent decline in manufacturing revenues to $419.5 million from $432.8 million as footwear shipments dropped by 6.7 percent to 14.0 million pairs from 15.0 million a year earlier. The ...
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ArticleFootway launches a capital hike as its liquidity is under pressure
Footway announced a SEK100 million (€8.7m) capital increase and a reduction of its inventory as its liquidity “is under pressure” due to tighter credit terms from suppliers in an ”already weak market.” On July 14, Swedish e-commerce company had a market capitalization of SEK 825 million (€72m). During the first ...
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ArticleJD Sports’ growth slows down in May
JD Sports Fashion said that it benefited from ”further positive trading in all regions” through May with overall growth in organic sales at constant exchange rates up around 8 percent year-on-year. In the first three months of the company’s fiscal year, which ends on Feb. 3, 2024, growth in organic ...
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ArticlePrimark’s Q3 sales up 13%
In the 12 weeks to May 27, corresponding to its third fiscal quarter, Primark’s sales rose by 13 percent at constant currency rates to £1,998 million (€2,327m), with like-for-like sales up by 7 percent, thanks to higher average selling prices. In the first nine months of the fiscal year, revenues ...
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ArticleEcco’s 2022 sales rise by 30% to €1,586m but earnings remain below pre-Covid levels
In 2022, Ecco’s revenues rose by 30 percent to €1,586 million from €1,218 million a year earlier and exceeded a pre-Covid-19 turnover of €1,360 million posted in 2019. Comparable sales were up by 18 percent. In January 2022, the Danish footwear and leather group acquired a controlling interest in Ecco ...
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ArticleAsos returns to profitability and Frasers Group lifts its stake
Asos, the struggling British online fashion retailer, returned to profitability in the third quarter and said its turnaround strategy was starting to bear fruit, prompting Frasers Group to lift its stake in the company to 10.6 percent. Adjusted Ebit rose more than £20 million (€23.3m) in the three months to ...
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ArticleDesigner Brands to resume selling Nike in Q4
Designer Brands unexpectedly announced that it will resume selling Nike shoes from the fourth quarter of this year, as the U.S. sportwear brand reverses its policy of dropping wholesale clients to focus on direct-to-consumer channels. Earlier, on June 1, Macy’s announced that it would be selling Nike apparel from October, ...
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ArticleInditex’s Q1 sales rise 13%
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, said that in the first quarter ended April 30 sales reached €7.6 billion, up by 13 percent year-over-year on a reported basis and grew 15 percent in constant currencies. Gross profit rose by 14 ...
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ArticleDr. Martens warns of declining margins in the current fiscal year
Shares in Dr. Martens nosedived as the British bootmaker warned that operating margins for the full year ending in March 2024 could be lower than in the previous 12 months because of extra costs stemming from blunders at its Los Angeles distribution center. Current full-year Ebitda margins are expected to ...
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ArticleCaleres launches a cost-savings program as business softens
Caleres is the latest of string of footwear companies announcing weaker-than-expected sales because of a “challenging” U.S. retailing environment. To maintain its adjusted earnings guidance for the full year, the group launched a cost-saving program. In the first quarter ended April 29, net sales were down by 9.8 percent year-over-year ...
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ArticleJimmy Choo posts record sales and is set to continue growing
In the full year end April 1, Jimmy Choo posted record revenues of $633 million, up by a reported 3.3 percent year-over-year and by 11.4 percent at constant currency rates, while its operating margin widened to 6.0 percent from 2.1 percent. The footwear brand is expected to increase sales in ...
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Hoka sales seen rising 20% in FY24, continuing to underpin Deckers growth
Deckers Brands expects Hoka will continue to lead sales growth in the current financial year, forecasting the brand will see a 20 percent increase in its top line after a 58.5 percent jump in the financial year that ended March 31. The majority of Hoka’s growth is expected to come ...
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ArticleGenesco slashes its FY earnings guidance on “dramatic” change in consumer sentiment
Genesco will seek more “newness” across its brands and products and accelerate store closures as it reported a loss in the first quarter ending April 29 and slashed its earnings guidance for the full year. The Nashville, Tennessee, based specialty footwear retailer cited a “dramatic change in consumer sentiment” as ...
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ArticleVF Corp. has a “realistic” turnaround strategy in place
VF Corp., which has begun a rigorous six- to 12-month process to find a new CEO, says it has a plan in place that will improve its sales and profitability fortunes over the next 12 months. It centers on continued growth for its The North Face (TNF), EMEA, and direct-to-consumer ...
