All Financial results articles – Page 41
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News briefs
Vietnam woes penalize Yue Yuen and other producers
Yue Yuen’s revenues were down by 24 percent to $541.5 million year-on-year in September, with decreases of 22 percent in manufacturing and 25 percent at retail. Total revenues were still up by 6 percent to $6.44 billion for the first nine months of this year. The company relies on Vietnam ...
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ArticleShoe Zone expects to be profitable but warns on costs, supplies
The U.K. footwear retailer Shoe Zone expects to swing to an annual profit, but warned that Covid-19, supply-chain and inflationary issues still present challenges over the next 12 months. The company said pre-tax profit for the year ended Oct. 2 would be at least £6.5million (€7.6m-$8.8m) compared to the £14.6 ...
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ArticleLionRock bought 51% of Clarks for £1
The Hong Kong-based private equity firm LionRock Capital paid £1 (€1.2-$1.4) for a 51 percent stake in Clarks, when it took over the British footwear company earlier this year, according to documents filed with the British registrar of companies, Companies House. The group’s annual report showed that C&J Clark Limited ...
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ArticlePittards returns to profits as sales recovery gathers momentum
Pittards, the British leather and leathergoods manufacturer, which owns the brand Daines & Hathaway, returned to profit in the first half and said there are “clear signs” a recovery from the Covid-19 pandemic was gathering momentum with orders at their highest level for two years. Pre-tax profit for the six ...
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ArticleBoohoo lowers sales guidance as higher costs squeeze H1 profits, margins
The British fast-fashion retailer Boohoo has warned of slowing sales growth and a squeeze on profit margins from higher costs as interim profits fell by a fifth. Adjusted pre-tax profit for the six months to Aug. 31 fell to £63.8 million (€74.3m-$86m) from £79.4 million a year earlier as revenues ...
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ArticleANWR Group 2020 revenues stable
ANWR Group weathered out the Covid-19 pandemic to end 2020 with a 0.2 percent increase in revenues to €17.8 billion. Last year posed a tough challenge to ANWR, but the group was able to withstand the crisis thanks to its financial services and the sports business, as well as the ...
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News briefs
Nike cuts guidance as supply chain woes worsen in Q1
The Nike group cut its guidance for fiscal year 2022 despite strong consumer demand, as it warned of inventory shortages over the next few quarters in the face of continuing supply chain headwinds that already took their toll on its sales performance in the first quarter ended Aug. 31. Nike’s ...
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ArticleShoe Carnival hikes full-year guidance after strong second quarter
The American footwear retailer Shoe Carnival increased its full-year guidance after posting strong second-quarter results. “Sales and profit results are far exceeding our expectations for fiscal 2021. And as such, we are significantly raising our annual guidance,” said Mark Worden during a conference call. Worden is chief customer officer but ...
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Article
Zalando posts strong double-digit sales growth in Q2
Zalando posted group revenues of €2,733.1 million in the second quarter, up by 34 percent from the second quarter of 2020. The gross merchandise value (GMV) jumped by 40 percent to €3.8 billion. GMV is the value of all merchandise sold to customers after cancellations and returns and including VAT. ...
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News briefs
Yue Yuen turned around in Q1
Yue Yuen Industrial estimates that it made a net profit of between $80 million and $90 million in the first quarter, against last year’s pandemic-triggered loss of $56 million for the period. The world’s largest shoe producer says it has enhanced the utilization and efficiency of its manufacturing operations, following ...
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ArticleSteve Madden beats its own expectations in Q1
Steve Madden beat its own expectations in the first quarter of 2021 with revenues increasing by 0.5 percent to $361.0 million and a net income of $21.2 million, or $0.26 per diluted share, compared to net loss of $17.5 million, or $0.22 per diluted share, a year earlier. Adjusted net ...
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ArticleCrocs ups guidance after rising by over 60% in Q1
Raising its guidance for the full financial year after a very strong first quarter, Crocs predicted that its revenues will grow by between 40 and 50 percent in 2021 from last year’s level of $1,386 million, up from its previous forecast of 20-25 percent growth. Posting the third consecutive quarterly ...
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ArticleStella bounces back in Q1
In a business update, Stella International said revenues for the first quarter increased by 15.3 percent to $303.4 million. This is mainly due to a favorable comparison base with last year’s first quarter, when the Chinese company’s revenues were affected by store and factory closures, as well as lower demand ...
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News briefs
Hermès’ leathergoods sales up by 18% in Q1
The revenues of the French luxury goods group Hermès totaled €2,084 million in the first quarter, an increase of 44 percent year-on-year at constant exchange rates and 38 percent at current rates driven by Asia. The organic revenue growth was 33 percent. At constant currency rates, sales in Asia, excluding ...
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ArticleSkechers is boosted by international wholesale and digital
Lifted by robust international demand, Skechers’ revenues jumped by 15.0 percent in the first quarter to a record level of $1,428.4 million, as compared to a year ago. Sales outside of the U.S. soared by 20.2 percent to represent 58 percent of the total turnover. In particular, the International Wholesale ...
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News briefsKering Q1 comparable sales up 25.8%
Kering’s revenues rose by 21.4 percent year-over-year in the first quarter to €3,890 million, with comparable sales up by 25.8 percent driven by Asia-Pacific and North America. The top line grew by 5.5 percent at constant exchange rates against the first quarter of 2019. Comparable revenues generated by the group’s ...
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ArticleSequential Brands cannot comply with its covenants
Sequential Brands, a U.S. group that has a portfolio of consumer brands including Heelys, Avia and DVS, said that it is not expected to be able to comply over the next twelve months with certain of its financial covenants. It noted that if it fails to comply with the covenants ...
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News briefs
JD Sports Fashion posts resilient results
JD Sports Fashion Plc managed to report generally good results for the year ended Jan. 30, 2021 despite the impact from the coronavirus pandemic and Brexit, “which have severely tested all aspects of the business,” the management said. The company’s profit before exceptional items and taxes of 421.3 million pounds ...
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News briefs
Big monthly sales jump for Yue Yuen
Yue Yuen Industrial Corp. reported a 30 percent jump in total revenues to $870.9 million for the month of March as compared to a year ago, when the novel coronavirus pandemic shut down its manufacturing and retail operations in China. Revenues from manufacturing and retailing were up by 12 percent ...
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News briefs
LVMH fashion and leather goods sales surge in Q1
Organic sales of the fashion and leathergoods division of the French luxury goods conglomerate LVMH rose by 52 percent in the first quarter. On a reported basis, quarterly sales for the division were up by 45 percent to a record €6.738 billion. The group as a whole posted revenues of ...
