All Financial results articles – Page 3
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ArticleVF Corp.’s turnaround continues to take shape
VF Corp. continues to make progress on its turnaround plan, delivering sequential sales improvement, a year-over-year increase in gross margin, and a 13 percent reduction in inventories in the second quarter that ended September 30.
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ArticleSkechers sees India rebound as China stumbles in Q3
Skechers’ revenues in India jumped by 24 percent in the third quarter of 2024, rebounding after suffering in the previous quarter in the face of changing regulatory requirements, while sales in the Chinese market declined by 5.7 percent to $252.4 million as an economic slowdown in that market affects consumer ...
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ArticleDeckers raises guidance as Hoka continues to shine in better-than-expected Q2
Deckers Outdoor raised sales and profit guidance for its full financial year as growth at its Hoka brand accelerated and it announced better-than-expected group results in the second quarter ended Sept. 30. Second-quarter revenues increased by 20.1 percent to $1.31 billion, above a $1.20 billion analyst consensus, with growth continuing ...
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News briefs
Hermès’ sales up over 10% in Q3
Hermès generated sales of €3.704 billion in the third quarter of 2024, up by 10.1 percent on a reported basis and 11.3 percent at constant exchange rates. All regions showed growth, despite a “particularly high” comparison base in Europe and Asia Pacific. In the first nine months of the year, ...
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ArticleBoohoo’s CEO steps down
Boohoo’s CEO, John Lyttle, is stepping down after five years with the British fast fashion online retailer. He will continue to work with the leadership team and the board over the coming months while a successor is found and to ensure a smooth transition, the company said. Boohoo added that ...
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News briefs
Piquadro H1 sales up slightly
The Italian bag and leather goods manufacturer Piquadro generated revenues of €87.8 million in the first half ended Sept. 30, up by 2.1 percent compared to the year earlier. All group brands saw growth, with sales at the Piquadro brand up by 0.8 percent to €39.8 million, sales at The ...
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ArticleFerragamo issues a profit warning
In the wake of third-quarter results, Salvatore Ferragamo warned that it expects its full-year operating result to be at the lowest end of analysts’ estimates due to persisting uncertainties over demand by luxury consumers. The brokerage Equita noted that the Italian luxury goods group now expects a full-year Ebit of ...
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News briefs
LVMH continues to post weak sales
LVMH’s fashion and leather goods division posted revenues of €29.922 billion in the first nine months of 2024, down by a reported 3 percent year-over-year and down by 1 percent organically. In the sole third quarter, organic sales dropped by 5 percent. Sales for the whole French luxury-goods conglomerate were ...
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ArticleZalando hikes its full-year guidance
Zalando has increased its 2024 forecast following a solid third-quarter performance. The Berlin-based fashion and lifestyle e-commerce giant, which has seen steady growth in its customer base and online demand, now expects higher full-year results for its gross merchandise volume (GMV), revenues and adjusted Ebit, marking a positive outlook for ...
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ArticleSpartoo improves its cash flow despite lower sales
In the first half of 2024, Spartoo suffered a decline in revenues but continued to improve its cash flow thanks to a reduction in working capital as inventories decreased. The gross merchandise value (GMV) totaled €90.9 million, down by 10.5 percent compared to a year earlier. Revenues also dropped by ...
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News briefs
JD Sports maintains guidance in challenging market
JD Sports Fashion reported a better-than-expected 2 percent rise in half-year profit and held annual guidance amid a “challenging and volatile market.” The company reported profit before tax and adjusting items of £405.6 million (€487.2m) for the six months to Aug. 3, compared with £398 million a year earlier, ...
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ArticleH&M posts disappointing Q3 results
H&M Hennes & Mauritz posted lower-than-expected third-quarter results and cut its full-year guidance. The Swedish fashion retailer said that in the quarter running from June 1 to Aug. 31 net sales fell to SEK 59.011 billion from SEK 60.897 billion a year earlier but were flat in local currencies. It ...
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ArticleFootasylum posts record sales and earnings
Footasylum posted record results in the fiscal year that ended on Jan. 27, 2024. Revenues rose by 7 percent to £319.5 million (€382.2m) for the British footwear retailer. The top line was driven by online sales, which grew by 15 percent to £134.9 million, or 42.2 percent of overall revenues, ...
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ArticleNext lifts guidance again as overseas sales boost H1 profits
Next has lifted its annual profit guidance for the second time in two months to almost £1 billion (€1.2bn) thanks to a sharp jump in overseas sales in the first half of its financial year and strong trading in recent weeks. The British fashion retailer raised forecasts for full-year pre-tax ...
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News briefs
Zegna’s organic sales slip in H1
In the first half of 2024, Ermenegildo Zegna’s revenues rose by 6 percent to €960.1 million. At constant currency rates, the top line rose by 8 percent while organic revenues dropped by 2.7 percent. The gross profit margin widened to 66.4 percent from 64.2 percent a year earlier. However, ...
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ArticleCaleres unveils cost-cutting measures, lowers guidance after falls short in Q2
Caleres said it was accelerating cost-cutting measures and cutting guidance for its full fiscal year, after missing sales and earnings guidance in the second quarter ended Aug. 3. Second-quarter sales slipped by 1.8 percent compared to the year earlier to $683.3 million, a decline that was attributed to a fall ...
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ArticleDesigner Brands cuts guidance as dress, seasonal footwear suffer
Designer Brands said it was cutting its sales and earnings guidance for the full year after posting worse-than-expected results in its second quarter ended Aug. 3, as the outperformance of its growing athleisure offering was not enough to offset difficulties with dress and seasonal footwear. The company, which owns the ...
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ArticleInditex’s H1 sales growth outpaces costs
In the first half ended July 31, Inditex posted sales of €18.1 billion, up by a reported 7.2 percent and by 10.2 percent at constant exchange rates, with store openings in 34 markets bringing the group to a total of 5,667 stores. The top line outpaced operating expenses, which increased ...
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ArticleGenesco maintains earnings guidance despite better-than-expected Q2 performance
Genesco said it was maintaining its earnings guidance for its 2025 fiscal year, even though its top and bottom line performance exceeded expectations in the second quarter as it continued to make progress with the turnaround of its Journeys division. Management still anticipates adjusted earnings per share (EPS) of $0.60 ...
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ArticleGolden Goose H1 sales up by 12% driven by DTC
At constant exchange rates, Golden Goose posted a 12 percent year-on-year increase in first-half net revenues to €307 million driven by its direct-to-consumer (DTC) business. DTC net revenues grew 18 percent to €226.8 million, accounting for 73 percent of the top line, compared with 70 percent a year earlier, thanks ...
