All Financial results articles – Page 4
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ArticleShoe Carnival converts some stores to the Shoe Station banner
Shoe Carnival’s management said it is switching some of its Shoe Carnival stores to the Shoe Station banner, which caters to a higher price target and was one of the drivers of its better-than-expected financial results in the second quarter of its 2024 fiscal year. As part of a testing ...
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ArticleSoggy British summer hits second-half sales at Primark
Like‐for‐like sales at Primark were expected to fall by around 0.5 percent year-over-year in the six months to Sept. 14 due to wet weather in the UK and Ireland, driven by a 0.9 percent decline in the final three months compared with 0.2 percent growth in the third quarter. Overall ...
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ArticleAsos sells Topshop and partially refinances its debt
Asos is selling 75 percent of the Topshop group for £135 million (€160m) as part of a deal with the Danish fashion billionaire Anders Holch Povlsen, who owns 28 percent of the troubled British online fashion retailer. Asos, which has faced severe headwinds amid the cost-of-living crisis in the UK ...
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ArticleKurt Geiger enjoys strong sales growth in the US
Kurt Geiger, a British footwear and accessories brand, increased revenues by 9.4 percent to £360.6 million (€428.4m) in the fiscal year ended in February 2024, driven by demand for its “affordable luxury” handbags, now its biggest-selling products. The brand’s leather handbags have an average retail price of £250 (€297). Founded ...
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ArticleBirkenstock posts record sales but disappoints the stock market
In the third quarter ended on June 30, Birkenstock reported record revenues of €564.8 million, up by 19 percent year-over-year at current and constant currency rates, thanks to “strong consumer demand supported by new production capacity and category expansion.” Nevertheless, the company’s results disappointed investors, sending the stock down sharply. ...
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News briefs
The Platform Group's GMV up 20% in H1
German e-commerce company The Platform Group (TPG), the owner of online footwear retailer Schuhe24 and other e-commerce platforms, reported that gross merchandise volume (GMV) grew by 20 percent year-over-year to €442.5 million in the first half of 2024 while net sales increased by 23 percent to €231.5 million. The number ...
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News briefs
JD reiterates its Ebit guidance
JD Sports Fashion maintained its annual guidance of Ebit before adjusting items of £955.0 million to £1,035 million (€1.13-1.22bn) despite a persistently volatile global macro environment. The guidance does not include Hibbett Sports whose acquisition was completed in the fiscal second quarter. In the second quarter ended Aug. 3, the ...
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ArticleStella significantly hikes distribution to shareholders over the next 3 years
Stella International recorded a 53 percent increase in adjusted net profit to $92.9 million in the first half of 2024 from $60.3 million a year earlier, improving its adjusted net profit margin to 12.1 percent from 8.4 percent. It also announced plans to significantly increase distribution to shareholders over the ...
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News briefs
Björn Borg’s shoe revenues surge by 199% in Q2
Björn Borg’s footwear revenues surged by 199 percent during the second quarter of 2024 after the sports fashion brand took over the distribution of shoes following the bankruptcy of the Dutch group Unlimited Footwear Group (UFG) in February. UFG, through the subsidiary Serve&Volley was the licensee responsible for Björn Borg’s ...
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News briefs
Alibaba's Q1 revenues below expectations
In the fiscal first quarter ended June 30, Alibaba reported revenues of 243.24 billion yuan renminbi (€31.13bn), an increase of 6 percent year-on-year but below market expectations of a top line of RMB 249 billion. Revenues were primarily driven by the company’s Cloud Intelligence Group, whose revenues increased by ...
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ArticleTapestry’s takeover of Capri given 30% chance of succeeding
The stock market gives an about 30 percent chance that Tapestry’s planned takeover of Capri Holdings will succeed after it was challenged by the US government over concerns that the aggregation could harm competition, according to the brokerage Raymond James. On April 22, 2024, the US Federal Trade Commission decided ...
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ArticleYue Yuen experiences order book ‘normalization’
The globe’s largest footwear manufacturer Yue Yuen realized a whopping 121 percent growth in profit attributable to company owners at $184.4 million for the six months ended June 30 versus $83.6 million a year earlier. Ebit rose by 85 percent to $265.2 million against $143.2 million in the year-ago period. ...
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News briefs
Coats appoints a board director
Coats said that Srinivas Phatak will join the board as a non-executive director, effective Sept. 1. In addition, he will join the audit and risk committee and the nomination committee. Phatak is currently the Deputy Chief Financial Officer and Group Controller at the consumer goods company Unilever PLC. He has ...
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News briefs
Bata India’s sales inch down on sluggish demand
Bata India said that in the first quarter end June 30 revenues fell by 1.4 percent year-on-year to 9,446 million rupee (€103.1m), despite expanding its retail network, due to weak consumer demand. “Bata India navigated well through the slugging consumption environment further accentuated due to the elections and extreme heat ...
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News briefs
Manolo Blahnik's 2023 sales down 10%
Manolo Blahnik reported that it posted a 10 percent drop in sales to €106.5 million in 2023 due to the “well-documented global luxury market slowdown.” Despite the decline, 2023 was the “second-best year ever” for the luxury footwear and accessories brand, according to the CEO, Kristina Blahnik. The pretax profit ...
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ArticleWolverine posts better-than-expected Q2 results
Wolverine Worldwide, Inc (WWW) posted better-than-expected sales and earnings in the second quarter of 2024 as the US company benefits from the results of its turnaround plan launched a year ago. Total revenues fell by 27.8 percent, or by 27.7 percent at constant exchange rates, to $425.2 million and ongoing ...
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ArticleGrendene’s foreign sales pick up in Q2
Grendene’s gross revenues rose by 3.1 percent year-over-year to 604.4 million reais (€100.5m) in the second quarter of 2024, underpinned by its key Melissa brand and a surge in exports. The group’s domestic sales were up by 1.5 percent to R$506.7million (€84.3m), as higher prices offset a decline in volumes, ...
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News briefs
Allbirds reduces Q2 operating loss
Allbirds reported another quarterly Ebitda loss and lower revenues for the second quarter but said the results were within its guidance range as it made further operational and financial progress. Additionally, the San Francisco lifestyle footwear company moved forward with its international strategy focused on distributors and licensees. The group ...
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ArticleVF optimistic that EMEA will spearhead Vans’ turnaround
Having shed its Supreme business for $1.5 billion and moving forward with a transformation plan under CEO Bracken Darrell and a cast of new brand leaders, VF Corp. is expressing optimism that its flagging Vans segment is finally on the road to full recovery. And the EMEA appears to be ...
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ArticleAlpargatas turns Q2 profit but sales in Europe sag
After more than a year of work strengthening many aspects of its business model, Alpargatas is seeing signs that its recovery on the right track. In second quarter of 2024, the Brazilian footwear company that owns the Havaianas brand generated a net profit of $23 million Brazilian reais (€3.75m) against ...
