Financial Results – Page 28
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ArticleDesigner Brands raises its full-year guidance again
Designer Brands released a new update in its full-year guidance after better-than-anticipated second-quarter results. The company raised its full-year diluted earnings per share guidance to a range of $2.05 to $2.15 from a previous forecast of $1.90 to $2.00, which had already been upgraded in April 2022 from $1.75 to ...
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ArticleStella posts strong H1, warns about forthcoming demand
In the first half of 2022, Stella International increased revenues by 18.9 percent to US$827.2 million from $695.5 million a year earlier, driven by higher orders from its manufacturing business. However, the growth rate indicated a slowdown in the second quarter compared with the first quarter, when the top line ...
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ArticleShoe Carnival Q2 hit by lack of athletic inventory
Shoe Carnival’s net sales in the second quarter ended on July 30 fell by 6.0 percent year-over-year to $312.3 million. Nevertheless, it was the group’s second highest second-quarter sales ever and the top line was up by 16.4 percent compared with the second quarter of 2019, prior to the outbreak ...
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ArticleCaleres raises sales outlook after record Q2
Caleres maintained its guidance for earnings in the full year and raised and tightened its outlook for sales after a record second quarter for sales and earnings, projecting that it would maintain its momentum despite high inflation and uncertainties about consumer spending. Sales in the three months ended July 30 ...
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ArticleGrendene sees sales jump as Brazilian market recovers
Grendene saw its revenues in the second quarter of 2022 jump by 46.5 percent to 641.4 million reais (€123.5m), as its domestic sales surged by 49.4 percent to R$498.6 million (€96.0m) after an 8.9 percent drop in the previous quarter and export revenues improved by 37.4 percent to R$142.8 million ...
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ArticleArezzo continues to post record sales
After a record-breaking first quarter, Arezzo & Co posted its highest sales for a second quarter, with gross revenues reaching 1,165 million Brazilian reais (€224.5m), up by 65.1 percent from the previous year and by 138.0 percent compared with the second quarter of 2019. The Brazilian company achieved 24.8 percent ...
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ArticleStuart Weitzman is profitable again despite a weak Q4
Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, posted higher sales and returned to an operating profit in the full year ended on July 2 despite a weak fourth quarter. Revenues for the full year increased by 12 percent to $317.7 million, or by 11 percent on ...
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ArticleAlpargatas sees Havaianas’ revenues fall double-digit rates in U.S., China
Alpargatas suffered double-digit rate declines in the sales of its rubber sandal brand in both the U.S. and China during the second quarter but realized an 11.8 percent increase in price per pair during the period. Havaianas’ sales declined 46.3 percent in China to 8.7 million Brazilian reais (€1.7m) due ...
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Yue Yuen H1 profits dragged down by Pou Sheng
Yue Yuen reported a 2.8 percent increase in first-half net income of $175.0 million versus $170.3 million for the six months ended June 30. Six-month revenues fell by 2.0 percent to $4,709,792,000 from $4,807,087,000, however, manufacturing segment sales were up by 14.4 percent to $3.19 billion. Ebit declined 17.7 percent ...
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ArticleWolverine lowers FY forecast
Wolverine Worldwide, concerned about inventory escalation in various U.S. retail channels and the likelihood of higher wholesale order cancellations in the market for the remainder of the year, has lowered its FY22 outlook downward. Lingering supply chain delays and currency exchange rates also contributed to the revision. The adjustment was ...
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ArticleJimmy Choo continues to grow strongly
In the first quarter ended July 2, Jimmy Choo posted revenues of $172 million, up by 21.1 percent year-over-year on a reported basis and by 30.3 percent at constant currency rates. Excluding mainland China, which has been impacted by tough Covid-19 restrictions, revenues grew a reported 32 percent and 43 ...
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ArticleAllbirds cuts costs and jobs as loss widens
Allbirds reported a net loss of nearly $29.4 million in the second quarter ended June 30 against a loss of $7.6 million a year earlier. The operating loss was $29.3 million versus a loss of $4.17 million. Total revenues increased by15 percent, or 18 percent currency-neutral, to $78.2 million from ...
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ArticleWeyco’s main brands rise sharply, Forsake’s relaunch scheduled next year
Weyco Group reported double-digit sales increases for its each of its four major footwear brands in the second quarter ended June 30, prompting total revenues to rise by 29 percent to $74.4 million from $57.6 million a year earlier. The group’s brands Florsheim and Stacy Adams saw their sales rise ...
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ArticleRocky Brands to hike prices in September to improve margins
Despite having increased prices at the beginning of 2022, Rocky Brands suffered a significant decline in second-quarter gross margin due to higher product and inbound freight costs coupled with higher logistics expenses. The company now plans another round of price increases in September. ”We raised our prices at the start ...
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ArticleCrocs lowers its full-year outlook
Crocs lowered its annual revenue guidance and reported a significant decline in its second-quarer operating margin,. The company is now forecasting 14 to 17 percent constant currency revenue growth for its Crocs brand (10 to 13 percent on a reported basis) for the fiscal year to a range of ...
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ArticleAlibaba’s e-commerce sales decline
In Alibaba’s first quarter ended on June 30 revenues fell very slightly to RMB 205.555 billion ($30.689bn) from RMB 205.740 billion a year earlier due to a 1 percent decline in revenues in the China commerce segment to RMB 141.935 billion ($21.190bn), offset by revenue growth of the cloud segment ...
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ArticleZalando sees return to growth in H2
Zalando expects to return to growth in the second half of the year after posting a 4 percent drop in second-quarter revenues to €2.6 billion and seeing its adjusted Ebit slump to €77.4 million from €184.1 million a year ago. In the second quarter, the number of active customers grew ...
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ArticleGeox expects a double-digit growth rate in annual revenues
Following a strong second quarter and a good performance in physical shops, Geox confirmed its guideline for the full year. The Italian footwear company expects a double-digit growth rate in annual revenues to over €700 million. Geox reported €340.6 million of consolidated net sales for the first half of 2022 ...
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VF suffers quarterly loss, but EMEA is strongest region
VF Corp. reported a first-quarter loss, related mainly to a $92 million non-cash pension charge. Still, the EMEA region, The North Face and Timberland were the strongest performers for the company in the period ended June 30. In the face of expected currency headwinds, the company is maintaining its fiscal ...
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ArticleBoot Barn will benefit from door expansion, own brands
Boot Barn, the lifestyle Western and work-related retail chain, is targeting a 15.0 percent operating margin, annual operating income of $247 to $255 million, and 13 to 14 percent sales growth in the financial year ending in April 2023. With consolidated same store sales growth forecast to increase 2 percent ...
