All Financial results articles – Page 23
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ArticlePrada’s footwear business outperformed in 2022
In 2022, the Prada group’s footwear business outperformed the other main product categories by increasing retail sales by 29 percent at constant currency rates to €691 million, driven by both formal and lifestyle products. Meanwhile, ready-to-wear jumped by 27 percent to €1,086 million and leather goods grew by 18 percent ...
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News briefs
Gap makes management changes as it streamlines
Gap Inc., which manages the banners Old Navy, Gap, Banana Republic and Athleta, announced several changes to its executive leadership team and additional cost-cutting measures. The U.S. retailer said that it will further simplify and optimize its operating mode, including decreasing management layers to improve the quality and speed of ...
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News briefs
Vibram aims to double its footwear sales
Vibram, the Italian sole producer, aims to double its sales of own-brand footwear which reached €18 million in 2022, Paolo Manuzzi, the chief executive of the Italian sole producer, said in an interview with the daily Il Sole 24 Ore. Last year, the group’s overall sales rose by 50 percent ...
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ArticleArezzo starts 2023 with 23% growth in DTC sellout after record 2022
Arezzo & Co began 2023 with continued momentum after a record sales performance in 2022, wrapping up two acquisitions and registering a 22.8 percent increase in direct-to-consumer (DTC) sellout to 611 million reais (€110.2m) in the first two months of the year. Management said that the performance in January and ...
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ArticleGeox confirms sales growth targets, to continue with DOS closures
Geox confirmed its 2023 targets for 6-8 percent sales growth and a further improvement in profitability, as it revealed a €4.3 million operating profit in 2022 after three years of losses. The result compared to an operating loss of €44.9 million in 2021 and was achieved as a restructuring aimed ...
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ArticleGenesco to focus on cost-cutting this year
Citing a rapidly changing consumer environment, Genesco is making numerous changes to its business as it braces for a challenging first half ahead of an anticipated better second half of the year. The current full-year outlook calls for total sales of flat to up 2 percent and earnings per share ...
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News briefsHugo Boss sees 2023 sales up about 5%
Hugo Boss expects to post a mid-single-digit percentage rate increase in sales in 2023 while Ebit is seen rising by 5 to 12 percent from 2022 levels to €350 million to €375 million. For both, EMEA and the Americas region, the company anticipates growth in the low- to mid-single-digit percentage ...
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News briefs
Sabu swings back to growth as sales return to pre-Covid levels
The German shoe retail cooperative Sabu reported strong results for 2022 driven by a surge in sales and an increase in points of sale, as the pandemic loosened its grip. Sales swung back above pre-Covid levels and were up by 42 percent to € 335 million compared to 2021. ...
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ArticleWeyco sales inch down in Q4 due to North American wholesale
Weyco Group posted sales of $99.0 million in the fourth quarter of 2022, a decline of 2 percent compared to the year earlier that had been expected due to the fact some wholesale orders in the third quarter of 2021 had been shifted to the fourth quarter amid supply chain ...
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ArticleAllbirds’ Q4 loss widens; company sets transformation plan
Allbirds completed its first full year as a public company by reporting a $25.5 million operating loss versus an operating loss of $6.4 million in the period ended Dec. 31. The net loss was $24,866,000 against a net loss of $10,444,000. Promotion and the discontinuation of first-generation apparel contributed to ...
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ArticleZalando sees operating profits improving in 2023
Zalando expects its operating profits to improve this year, after declining in 2022, and sees its Ebit margin reaching the upper end of its guidance by 2025. The German online fashion retailer reported that in 2022 its gross merchandise value (GMV) rose by 3.2 percent to €14.798 billion from €14.333 ...
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News briefs
Gianvito Rossi’s sales approach €100m
Gianvito Rossi, an Italian producer of luxury shoes, posted sales of €99 million in 2022, up by 35 percent year-on-year.
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ArticleGrendene sales suffer, outlook uncertain as consumers’ disposable income shrinks
Grendene generated fourth quarter revenues of 938.0 million reais (€169.6m), down by 0.9 percent on the year earlier as high inflation, interest rates and unemployment put a dent into the disposable income of consumers and below-average temperatures and political uncertainty in its home market of Brazil further hurt demand. Domestic ...
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ArticleFerragamo warns that inflation may further erode margins in 2023
Salvatore Ferragamo warned that its 2023 operating margins could be slightly lower than last year due to higher costs, which could put pressure on the stock price of the Italian fashion house which is already trading at lofty multiples. The average target price for financial analysts is around €16.14 compared ...
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News briefsNatural World's sales up 10%
Natural World, which seeks to produce a 100 percent ecological shoe, is enjoying an annual growth rate of 10 percent, according to sales director Jorge Velo, who spoke with Diffusion Sport at last month’s Micam show. The 11-year-old brand generates 70 percent of total sales outside its home country of ...
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News briefs
Vulcabras’ 2022 sales rise by 36%
In 2022, Vulcabras posted a 36 percent increase in revenues to R$2,536.9 million (€413.1m) from R$1,867.2 million a year earlier with sales in the home Brazilian market increasing by 33.5 percent to R$2,309.0 million (€430.6m) and foreign sales up by 65.5 percent to R$227.9 million (€42.5m). Annual e-commerce sales increased ...
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ArticleGarmont's sales rise 60%, Germany remains the main market
Garmont, the Italian outdoor footwear company founded in 1964, reported sales of €40.5 million in 2022, up by 60 percent from the previous year, and an Ebitda margin of more than 16 percent. ”In 2022 we defined a strategy that allowed us to maintain our market positions while taking into ...
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ArticleNordstrom exits Canada
Nordstrom is exiting Canada, a market it entered in 2014 with “a plan to build and sustain a long-term business there,” announced Erik Nordstrom, the chief executive officer of the U.S. retailer. The Canadian business operates six Nordstrom stores and seven Nordstrom Rack units, as well as the Nordstrom.ca website, ...
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ArticleCoats’ Apparel & Footwear sales up organic 9% in 2022
In 2022, Coats’ revenues rose by a reported 9 percent to $1.548 billion. On a constant currency basis, the top line was 16 percent higher and organic growth reached 10 percent, ahead of a targeted medium-term growth of about 6 percent. The Apparel & Footwear (A&F) dvisision saw full-year organic ...
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ArticleGörtz brings in new investor to exit insolvency procedure
The insolvent German footwear chain Görtz has found a new investor. Currently undergoing a restructuring under a self-administration procedure, the ailing Hamburg-based company said that, after an “intensive process and extensive discussions with many interested parties,” the provisional creditors’ committee has picked a long-term oriented private investor. Görtz did ...
