All Financial results articles – Page 17
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News briefs
Allbirds’ Q2 operating loss rises slightly
Allbirds, which continues to move forward with its “strategic transformation plan” announced in March, intends to complete distribution agreements with partners in Canada and South Korea during the second half of 2023. In the second quarter of 2023, total sales fell 9.8 percent to $70.5 million from $78.2 million, ...
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ArticleWolverine’s new CEO to spearhead turnaround as Q2 results tumble
Chris Hufnagel, who was named president and CEO on Aug. 10, of Wolverine Worldwide, Inc (WWW) with immediate effect following the sudden departure of Brendan Hoffman, faces numerous headwinds from day one, with the group’s second-quarter figures now released. They range from getting inventory and debt to proper levels and ...
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News briefs
Vulcabras Q2 results bolstered by locally made athletic footwear
The Brazilian Vulcabras group, which produced double-digit second-quarter gains in revenues, gross margin and net profit, was aided by a 14.2 percent increase in market-produced footwear to 608.2 million Brazilian reais (€112.8m). Overall, Ebit expanded by 40 percent to R$148.1 million (€27.5m) as year-over-year gross margin increased by 540 basis ...
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ArticleAlpargatas still plagued by inefficiencies, high inventory levels
Alpargatas, the Brazilian parent of flip-flop brand Havaianas and the Rothy’s footwear brand, continues to be challenged by high inventory levels in the South American market and inefficiencies in its overall operation that are impacting sales, margins and profitability. The group reported a 53.1 million Brazilian reais (€9.9m) consolidated net ...
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ArticleSteve Madden’s expects an improvement in H2 after Q2 sales fall 17%
Steve Madden’s revenues decreased by 16.8 percent to $445.3 million in the second quarter of 2023 from $535.0 million a year earlier. However, the company expects an improvement in the second half of the year even if it remains cautious especially regarding re-orders from wholesale clients. Revenues for the wholesale ...
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ArticleNext lifts guidance again on strong rise in Q2 full-price sales
Next has raised its annual profit forecasts again after strong second-quarter full-price sales and better-than-expected clearances of summer stock. The British fashion retailer raised guidance by £10 million (€11.6m) to £845 million (€980m), just six weeks after its last upgrade. Next also forecast that annual full-price sales will be 1.8 ...
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ArticleBoot Barn’s Q1 sales rise, beating the company’s forecast
Boot Barn’s net sales rose by 4.9 percent to $383.7 million in the first fiscal quarter ended on July 1, from $365.86 million the previous year. Net income fell from $39.3 million to $34.3 million, with net income per diluted share coming in at $1.11, compared to $1.26 the previous ...
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ArticleWeyco posts higher profit, margin despite lower Q2 sales
Weyco Group suffered a 9.9 percent decline in second-quarter sales to $67.0 million as the group’s portfolio of footwear brands faced difficult year-over-year comparisons and a wholesale market flush with inventory. Nonetheless, the group improved several operating metrics in the period ended June 30. Operating income rose by 18 percent ...
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News briefs
Pollini’s sales rise slightly in H1
Pollini, the luxury footwear brand owned by the Italian fashion house Aeffe, posted sales of €17.2 million in the first half of 2023, up by a reported 3.4 percent from a year earlier. The brand represented 10.5 percent of the group’s revenues. During the period, Aeffe posted sales of €162.9 ...
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ArticleCoats forecasts gradual demand improvement in H2
Coats, the U.K.-based maker of industrial yarns and structural components for footwear, suffered headwinds during the first half of 2023 due to difficult year-over-year comparisons and widespread industry destocking. Adjusted operating profit slipped by 14 percent to $107 million the six months ended June 30 from $125 million a year ...
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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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News briefs
Rocky Brands sees business positioned for H2 improvement
Despite experiencing strong sell-throughs at several major U.S. wholesale accounts, the U.S. footwear company Rocky Brands reported a 38 percent decline in second-quarter sales to $99.8 million from $162.0 million a year earlier. Revenues in the wholesale segment declined by 45.5 percent to $71.5 million and fell by 3.6 percent ...
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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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News briefs
Relaxo’s Q1 profitability surges on higher sales
Relaxo Footwears, an Indian group that sells shoes under various brands including Sparx, Flite and Bahamas, posted revenues from operations of 738.8 crore rupee (€81.5m) in the first quarter ended June 30, up by 10.74 percent year-on-year. Total income grew by 11.14 percent to INR 746.1 crore (€82.3m). In the ...
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News briefs
BasicNet's H1 earnings decline
BasicNet, the Italian parent of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands, suffered a 30.8 percent decline in first-half net profit to €7.4 million as the bottom line was weighed down by amortization charges and financial items. Ebitda was steady, rising slightly to €22.6 million from €22.4 ...
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News briefsHermès’ H1 sales rise by over 22%
Hermès’ first-half revenues were €6,698 million, up by a reported 22.3 percent and by 25.2 percent at constant currency rates, with growth of 20 percent or above in all geographical areas. The leather goods and saddlery division booked sales of €2,780 million, up by a reported 17.9 percent and by ...
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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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News briefs
Zegna's H1 sales rise nearly 24%
The Italian fashion group Ermenegildo Zegna’s first-half revenues rose by 23.9 percent to €903 million. Revenues at constant currency were up by 24.7 percent, and organic growth was 21.5 percent. The top line was underpinned by the consolidation of Tom Ford International and Pelletteria Tizeta from April 29. Revenues for ...
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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 ...
