All Financial results articles
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ArticleShoe Zone sees full-year profits halved as sales fall on weak consumer confidence, weather
Shoe Zone has halved earnings forecasts in another profit warning and claimed that recent tax and wage measures in the recent British government’s budget would force it to close an unspecified number of stores. The low-cost UK footwear retailer said it had experienced “very challenging trading conditions” between the start ...
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ArticleBirkenstock posts higher-than-expected Q4 results
Birkenstock reported revenues of €456 million in its fourth quarter ended Sept. 30, up by 22 percent on the year earlier on both a reported and constant currency basis. Financial analysts were expecting a top line of €440 million. The sandal maker posted strong double-digit revenue growth across all segments, ...
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News briefs
Shoe Carnival renews its share buyback program
Shoe Carnival’s board authorized a new share repurchase program of up to $50 million in common stock, effective Jan. 1. It replaces a $50 million share buyback program that was authorized on Dec. 14, 2023, and expires on Dec. 31, 2024. The board also approved the payment of a quarterly ...
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ArticleDesigner Brands continues to ‘de-weatherize‘ business as Q3 boot sales slump 27%
Designer Brands said it would continue to take steps to reduce its reliance on seasonal footwear after sales of boots slumped 27 percent in the third quarter ended Nov. 2, nearly double the 15 percent decline it had forecast. Slumping boot sales came amid unseasonably warm weather in September and ...
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News briefs
Inditex’s sales grow less than expected
In the first nine months to Oct. 30, Inditex’s sales grew by 7.1 percent to €27.4 billion, but missed market expectations. At constant-currency rates, the top line rose by 10.5 percent. In the sole third quarter, the top line came in at €9.4 billion against expectations of €9.5 billion. Gross ...
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ArticleGenesco more optimistic on outlook as Journeys turnaround gains pace
Genesco raised its sales and earnings guidance for its 2025 fiscal year, as the turnaround of its Journeys division accelerates, offsetting softer demand and a more cautious outlook for its Schuh and Johnston & Murphy businesses. Management now expects group sales for the full year to be flat to down ...
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ArticleEcco has a new CEO
Ecco’s CEO, Panos Mytaros, has stepped down and been replaced by the group’s Chief Commercial Officer, Thomas Gøgsig. No explanation was given regarding the change at the helm. However, since Russia’s invasion of Ukraine on Feb. 24, 2022, the Danish footwear group has been criticized by the country’s Prime Minister, ...
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ArticleCaleres cuts earnings guidance, sees more balanced international growth
Caleres once again cut its sales and earnings guidance for its full fiscal year, after a slump in boot sales made the biggest contribution to disappointing financial results for the third quarter ended Nov. 2. Third-quarter sales fell by 2.8 percent to reach $740.9 million, worse than the company’s guidance ...
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News briefs
Ferragamo expects €70-90m in impairments
Salvatore Ferragamo expects to book between €70 million and €90 million in asset write-downs on its 2024 results due to the slowdown affecting the luxury goods market. The final amount of the write-downs will be defined during an impairment test to be made by March 2025. The impairments will not ...
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ArticleDr. Martens sees early signs of recovery in US as new products sell well
Dr. Martens reported signs of “encouraging” trading since the start of the autumn/winter season, with new products selling well in the US, despite the troubled footwear maker swinging to a loss for the half year on weak demand across all regions. The outgoing Chief Executive, Kenny Wilson, said the company ...
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ArticleShoe Carnival accelerates store rebranding as hurricanes, warm weather hurt Q3 sales
Shoe Carnival is accelerating with plans to rebrand some of its Shoe Carnival stores into the higher-priced Shoe Station banner, after the success of an initial 10 stores that have made the switch. The company said it is expanding its store rebranding strategy to an additional 25 stores in the ...
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ArticleGolden Goose’s adjusted Ebit rises 8%
In the first nine months of 2024, Golden Goose’s adjusted Ebitda rose by 11 percent to €163 million, resulting in an Ebitda margin of 35.0 percent against 34.9 percent a year earlier. Meanwhile, adjusted Ebit was up by 8 percent to €118.5 million. The premium Italian sneaker brand reiterated that ...
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ArticleFast growth in footwear operations helps drive sales at Coats
Coats expects full-year results to be in line with expectations and forecasts an operating margin of around 18 percent, driven by strong sales growth in its footwear and apparel operations. Sales growth for the British group, which produces industrial threads and components for footwear, improved to 11 percent at constant ...
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ArticleAzzas 2154 sees modest growth in footwear sales in Q3
Azzas 2154, the Brazilian company formed earlier this year from the merger of Arezzo & Co and the apparel company Grupo Soma, reported modest growth in its footwear and accessories business in the third quarter of 2024, as solid growth in its direct-to-consumer (DTC) business was largely offset by lower ...
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News briefs
Pollini’s sales decline slows down sharply in Q3
Pollini, the luxury footwear brand wholly-owned by the Italian fashion house Aeffe, posted sales of €23.6 million in the first nine months of 2024, down by 9.5 percent from a year earlier. The brand represented 11.4 percent of the group’s revenues, up from 10.3 percent a year earlier as it ...
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ArticleGeox reshapes distribution model in US and China as wholesale continues to drag on sales
Geox said it would close direct operations by the end of the year in both the US and China as it seeks to increase efficiency and better meet its distribution needs in what have so far proved to be marginal markets. The company said it intends to continue serving both ...
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ArticleBoohoo raises £39.3 m in fresh cash
Boohoo has raised £39.3 million (€47.0m), before fees and expenses, in fresh capital by issuing new shares at 31 pence per share (0.37 euro cents). The funds will be used to repay debt and provide the company with ”additional strategic flexibility.” The UK online fast fashion group collected the funds ...
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News briefs
Alibaba's quarterly sales up 5%
In the fiscal second quarter ended Sept. 30, Alibaba posted revenues of 236.503 billion yuan renminbi (€33.0 billion) and income from operations of RMB 35.246 billion (€4.8 billion), both up by 5 percent year-over-year. The Chinese online retailer Alibaba said that diluted earnings per share grew by 69 percent to ...
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ArticleYue Yuen posts strong manufacturing but weak retail results
Yue Yuen, the world’s largest footwear manufacturer, generated strong manufacturing results in the first nine months of 2024. But the group’s retail arm, Pou Sheng Intl., suffered from soft sales momentum with weak traffic across various Chinese cities “amid a mixed consumption landscape.” Profit attributable to company owners rose ...
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ArticleSteve Madden fast tracks plan to cut Chinese production
Steve Madden said it is accelerating plans to reduce its reliance on manufacturing in China, amid expectations that Donald Trump will follow through on his pledge to slap hefty tariffs on imports from China after being re-elected on Nov. 5 to a second term as president of the United States. ...
