Financial Results – Page 38
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ArticleNice Footwear books €12 million in orders for spring/summer collection
The Italian footwear company Nice Footwear has booked orders representing a value of more than €12 million for the spring/summer season and expects to finish the full year, ending on April 30, 2021, with sales of more than €20 million. In the previous financial year, the top line totalled €23.5 ...
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ArticleInditex posts better-than-expected Q3 results
In the third quarter running from Aug. 1 to Oct. 31, Inditex, the Spanish group that owns the brands Zara, Pull Bear, Massimo Dutti , Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, posted sales of €6.1 billion, down by 14 percent year-on-year following a contraction of 31 percent in the ...
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ArticleDesigner Brands expects to struggle well into 2021
The American shoe retailer Designer Brands, formerly known as DSW, believes that the Covid-19 pandemic will continue to have a significant impact on its business next year and does not expect significant improvement until late spring 2021 or even the next back-to-school season. While releasing results for the third quarter, ...
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ArticleKingmaker’s profits are back in the black
Kingmaker, a major Chinese manufacturer of athletic and casual footwear, posted a net income of 65.5 million Hong Kong dollars (€7.0-$8.5m) for its first fiscal half-year ended on Sept. 30, compared with a loss of HK$32.3 million last year, helped by gains from its property investments that more than offset ...
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ArticlePrimark faces £430m sales loss in the autumn due to Covid resurgence
The Irish clothing retailer Primark is expected to suffer a loss of sales of some £430 million (€476.1m-$579.1m) this autumn due to the second round of local Covid-19 lockdowns, according to its parent company, Associated British Foods (ABF). The operating costs of the stores which were closed were reduced by ...
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ArticleGenesco returns to profits in Q3
Genesco delivered sales for the third quarter that exceeded expectations and returned to profits after posting losses in the second quarter. Schuh performed well, partly due to the accelerated shift to online spending, while Johnston & Murphy’s business struggled. Sales for the third fiscal quarter ended on Dec. 4 decreased ...
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ArticleCoronavirus plunges Leder & Schuh into the red
The coronavirus pandemic has taken a heavy toll on Leder & Schuh Group. The Austrian shoe retailer, with its Humanic and Shoe4You brands, expects losses for the full year. Results will be “clearly negative,” according to a recently filed financial statement. Earlier this year, the company described the pandemic ...
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ArticleLower sales for Caleres, but results top expectations
Caleres recovered in the third fiscal quarter compared with the previous quarter but sales continued to decline sharply year-on-year. The company warned that fourth-quarter sales could be some 20 percent lower than the previous year. In the three months ended on Oct. 31, revenues were $647.5 million, down by 18.3 ...
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ArticleVulcabras’ women’s shoe sales drop as the company focuses on sports
After production restrictions in the spring and early summer due to the pandemic, Vulcabras resumed full operations at its factories in July, capitalizing on a robust order backlog. It managed to lift overall sales in the third quarter, but sales of women’s shoes were lower as the company prepares to ...
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ArticleFarfetch benefits from shift to buying luxury goods online
Luxury e-tailer Farfetch reported a sharp rise in third-quarter sales as it benefits from the growing trend of buying high-end products online. Revenues for the three months to Sept. 30 soared by 71 percent to $438 million, while gross merchandise value (GMV) increased 62 percent to $798 million. Online GMV ...
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ArticleTod’s enjoys recovery in Asia
Tod’s is seeing signs of recovery in Japan and South Korea on top of the strong growth already enjoyed in China. But the company warned that to meet market expectations, it would need some “respite” in store closures in the fourth quarter. Financial analysts anticipate full-year sales of €647 million. ...
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ArticleLosses continue for Yue Yuen
Despite China’s resilience against the pandemic in the third quarter, Yue Yuen Industrial Holdings remained in the red, following two quarters of losses. The company was strongly impacted by government measures to contain the spread of the disease at the start of the year, and although the Pou Sheng Chinese ...
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ArticleGeox suffers accelerated sales decline amid new lockdowns
Geox has suffered a 30.0 percent decline in like-for-like sales in the fourth quarter to date - bringing the like-for-like sales decline in the year so far to 32.0 percent - amid new temporary store closures due to a second wave of the Covid-19 pandemic in its main markets. Comparable ...
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ArticleFerragamo books strong sales growth in China
Salvatore Ferragamo enjoyed very strong growth in China during the third quarter and in October. At constant-currency rates, retail sales in the Asian country surged by 38.3 percent year-on-year during the quarter and further accelerated in October. The Italian fashion company also posted “solid” retail sales growth in South Korea ...
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Better-than-expected Q3 results for Wolverine
Although they were down on last year’s third quarter, Wolverine Worldwide posted better-than-expected sales in the three months to Sept.26, led by double-digit growth from Saucony and Chaco. The impact of coronavirus-related restrictive measures on retail was partly offset by a growth of 56.4 percent in the group’s own e-commerce ...
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ArticleJimmy Choo sees opportunity to hike prices, expand casual footwear range
Jimmy Choo has reached breakeven in the second quarter and sees the opportunity to significantly increase its prices and to expand its casual footwear assortment.
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ArticleBogs steps up as Covid lockdowns hit Q3 sales at Florsheim
U.S. shoemaker Weyco swung to a third-quarter loss as lower casual and formalwear sales offset a strong performance from the Bogs North American outdoor wholesale unit. The company, which also owns the Florsheim, Stacy Adams and Nunn Bush brands, reported a net loss of $5.9 million for the three months ...
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ArticleZalando Q3 sales volumes up by 29.9%
In the third quarter, Zalando’s gross merchandise volume (GMV) grew by 29.9 percent to €2.5 billion while revenues advanced by 21.6 percent to €1.8 billion. The German e-tailer continued to benefit from accelerated consumer shift towards digital purchases and the “strong performance “of its Partner Program and Lounge services. Adjusted ...
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ArticleAmazon Q3 sales up 37%, net profit triples
Amazon’s third-quarter sales grew by 37 percent to $96.1 billion. They were boosted by booming online transactions during the coronavirus crisis worldwide, which prevented or discouraged shoppers from purchasing in physical stores. Excluding a $691 million favorable impact from year-over-year changes in foreign exchange rates during the quarter, sales increased ...
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ArticleGrendene recovers sharply in Q3 driven by domestic market
Grendene posted the best third quarter in its history in terms of gross revenues, and the third best in volumes, as the company recovered, thanks to domestic demand, from a dismal second-quarter performance, caused by the Covid-19 pandemic. The Brazilian footwear manufacturer posted a 9.5 percent increase in gross revenues ...
