All Financial results articles – Page 24
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ArticlePrimark lifts guidance as consumers start shopping early for summer
Primark’s parent company, Associated British Foods (ABF), has lifted full-year guidance as consumer spending proved to be more resilient in the first half, with Britons buying early for the summer holidays and inflation easing. The group now expects adjusted operating profit in the 24 weeks to March 4 to ...
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ArticleRocky Brands sees 2023 sales down 7-9% after 18% dip in Q4
Rocky Brands said it expects sales to decline by about 7-9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022 as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
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ArticleSteve Madden sees about 20% drop in wholesale revenues in H1
Steve Madden expects an about 20 percent drop in wholesale sales, which represent nearly 60 percent of its top line, during the first half of 2023 as clients reduce orders to reduce excessive inventories. In a conference call with financial analysts, the company’s chairman and CEO, Edward Rosenfeld, noted that ...
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ArticleFarfetch Q4 sales dip 5%, profits squeezed but company sees ‘solid’ start to 2023
Farfetch reported a decline in revenues and gross merchandise value in the fourth quarter of 2022, a year marked by “unprecedented macro headwinds”, but said it was on better footing in 2023 after completing a strategic revamp and confirmed its guidance for growth in gross merchandise value (GMV) and an ...
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News briefs
Primadonna Collection aims for revenues of €120m in 2023
The Italian footwear and apparel retailer Primadonna Collection aims to post annual sales of €120 million this year after ending 2022 with a top line of about €110 million, the founder and manager Valerio Tatarella told the website Fashionmagazine.it. Tatarella also said that the brand plans to enter the Vietnamese ...
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News briefsAlibaba reports improved results despite challenges
Despite softer demand and supply chain and logistics disruptions, Alibaba reported revenues and profits for Q3 that exceeded Wall Street estimates. Revenues increased by 2 percent to 247.8 billion yuan renminbi (€34.1bn) from RMB 242.6 billion for the period ending Dec. 31. The Chinese e-commerce behemoth said in a statement, ...
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ArticleWolverine Worldwide forecasts meaningful profit progress in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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News briefs
Valleverde's sales reach €25m in 2022
Valleverde, the Italian footwear company owned by Silver1, posted sales of over €25 million in 2022, rising sharply from €14 million in 2021. The top line is also above the pre-Covid-19 level of €17 million reached in 2019. The brand achieves 65 percent of its revenues with women’s shoes. The ...
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News briefsSaye grows strongly in 2022 but misses its sales target
Saye, a fast-growing Barcelona-based company specialized in sustainable footwear, posted sales of €6.7 million in 2022, up by 20 percent year-over-year but below its target of €8 million. The company is estimated to have sold more than 70,000 pairs in 2022 as its retail network increased by 80 percent to ...
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ArticleSergio Rossi more than doubles 2022 sales
Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods Lanvin Group, posted sales of €61.9 million, up by 116 percent from a year earlier, outperforming the rest of the group. Lanvin Group increased overall revenues by 38 percent to €424.5 million. Sales for the Lanvin brand grew by ...
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ArticleCrocs brand gains traction in EU; Heydude prepares for expanded distribution
Coming off a year when global revenues rose by nearly 54 percent to more than $3.5 billion and adjusted operating margin hit 28 percent, Crocs continues to see markets outside the U.S., including Europe, as important growth vehicles for both of its brands. In Q4, Crocs brand sales rose 75.6 ...
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News briefs
Hermès’ FY sales up by nearly 30%
The French luxury goods group Hermès said that in 2022 it posted a net profit of €3.367 billion, up from €2.445 billion, while revenues rose by 29.2 percent to €11.602 billion. At constant currency rates, the top line was up by 23.4 percent. The leather goods and saddlery division increased ...
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News briefs
BasicNet posts 34% sales growth in 2022
BasicNet, the Italian parent for the Kappa, K-Way, Superga and Sebago brands, has reported preliminary results for 2022. Final results are due for release on March 9. Group brands’ aggregate sales rose 34.1 percent year-over-year to €1.27 billion in 2022. Commercial licensee and direct aggregate sales grew by 27 percent ...
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ArticleGabor resumes growth in 2022 after the pandemic collapse
The German shoe manufacturer Gabor returned to growth in 2022 as it recovers from the Covid-19 downturn. The top line however still remains about 10 percent below the level achieved in 2019, the year prior to the outbreak of the pandemic. The Rosenheim-based company reported sales of €325 million, for ...
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News briefsKering’s FY sales rise by 15% driven by Yves Saint Laurent
Kering’s 2022 revenues rose by a reported 15 percent, and by a like-for-like 9 percent, to €20.351 billion. Comparable sales for the directly-operated stores of the French luxury goods group increased by 10 percent, driven by Western Europe and Japan. Among the group’s leading brands, comparable revenues inched up ...
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News briefsCaleres’ FY sales reach nearly $3bn
After a stronger-than-anticipated performance during the year-end holiday season, Caleres is providing preliminary results for fiscal 2022 that exceed its previous expectations and set another record year for the company. Caleres now expects consolidated sales of approximately $2.97 billion, up by 7 percent year-over-year. Previous expectations were for growth of ...
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News briefsOTB continues to grow and mulls an IPO
The Italian fashion group OTB posted a double-digit growth rate in sales last year and announced that it is open to the possibility of an initial public offering. In 2022, revenues grew by 14 percent to €1.743 billion, while net sales rose by 12 percent to €1.630 billion, driven by ...
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ArticleAlpargatas swings to Q4 loss as inflation erodes purchasing power
Alpargatas, the Brazilian owner of the flip-flop sandal brand Havaianas, reported a decline in sales volumes and a bottom-line loss in the fourth quarter of 2022, rounding out a year that fell short of management expectations as inflation cut into households’ disposable income. In January, overall annual inflation in Brazil ...
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ArticleStuart Weitzman’s Q2 sales down nearly 24%
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $85 million in the fiscal second quarter ended Dec. 31, down 23.6 percent year-on-year at constant currency rates. “Revenue declined in the quarter, impacted by the brand’s significant exposure to China as well as a ...
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News briefs
Piquadro sees FY sales at €170-175m
Piquadro reported revenues of €126.8 million in the first nine months ended Dec. 31, up by 15.9 percent compared to the year earlier. The figures were in line with preliminary figures released in January. Piquadro’s net financial positive was positive for €14.6 million, compared with a positive figure of €13.9 ...
