All Financial results articles – Page 6
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News briefs
Burberry changes CEO on poor Q1 results
Burberry appointed Joshua Schulman as chief executive officer, succeeding Jonathan Akeroyd who is stepping down and leaving the company with immediate effect by mutual agreement with the board. Schulman was the CEO of the US fashion brands Michael Kors from 2021 to 2022 and was brand president for Coach from ...
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News briefs
Dr. Martens trading in line with expectations
Dr. Martens said that trading since the start of its financial year has been in line with expectations and that its guidance for the full year remains unchanged. The fiscal year of the British footwear brand ends on March 31, 2025. “As always, Q1 is the smallest period of our ...
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ArticleSabu doubles its 2023 profits
Sabu doubled its earnings in 2023, a year which proved to be one of the best ever for many of the companies part of the German shoe retail cooperative, as the Heilbronn-based firm continued on its recovery path after the Covid-19 pandemic thanks to a further rebound in sales. ...
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News briefs
Shoe Zone cuts its guidance on higher transport costs, poor weather conditions
Shoe Zone further cut its full-year guidance and now expects adjusted profit before tax for the financial year ending Oct. 2 to be “not less” than £10.0 million pounds (€11.8m). The British footwear retailer said that it has continued to experience cost pressures associated with container prices due to a ...
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ArticleH&M warns that business conditions are more challenging
H&M Hennes & Mauritz continues to expect a 10 percent operating margin this year but warned that conditions have become more challenging to achieve the target. In the fiscal second quarter, which ran from March 1 to May 31, the Swedish fashion retailer’s sales rose by 3 percent in both ...
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ArticleVelasca plans new store openings but pushes back its €100m sales target
Velasca, an Italian startup launched in 2013 by Jacopo Sebastio, the chief executive officer, and Enrico Casati, continues to enjoy strong growth thanks to the extension of its product line and store openings, but warned that it may take longer than expected to reach its annual revenue objective of €100 ...
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ArticleLeder & Schuh’s sales continued to grow in 2023
Austria’s Leder & Schuh, one of Europe’s largest shoe retailers, reported a further increase in sales last year, confirming a positive trend in 2022 and 2021 after the pandemic slump of 2020. Through its Humanic and Shoe4You brands, the company increased its sales by 4.5 percent to €367 million in ...
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News briefs
Otto satisfied with its results despite a drop in sales
The German mail order company Otto posted a widening loss for the 2023/2024 financial year, but said it is satisfied with the results despite the drop in sales as it made “noticeable progress in its operating result” in an “enormously challenging market environment.” Losses increased to €426 million in ...
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News briefs
Broker sees ‘green shots’ for H&M’s sales growth
H&M Hennes & Mauritz’s sales are showing signs of a recovery which could lead to higher profit margins this year and next, according to the broker UBS. “We share investor concern on lack of a clear top line recovery but gain confidence from a raft of measures leading to green ...
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ArticleSchuh Mücke’s sales increase by nearly 2%, return to pre-pandemic levels
Schuh Mücke, the German shoe and sporting goods retail chain within the ANWR Group, reported strong full-year results for 2023, with sales swinging back to pre-pandemic levels. Sales rose by nearly 2 percent to €104.7 million from €102.8 million in 2022. The Bavarian retailer’s gross profit margin improved ...
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News briefs
Piquadro’s FY net rises sharply
Piquadro said that in the full year ended March 31 its net profit rose by 61.9 percent year-on-year to €10.5 million as revenues grew by 2.7 percent to €180.3 million. Ebitda increased by 15.2 percent to €32.0 million and Ebit advanced by 24.4 percent to €14.8 million. The Italian bag ...
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ArticleANWR Group is confident about the future
At the annual general meeting of the international trade cooperation ANWR Group eG on June 5 in Mainhausen, Germany, the executive board presented the strategic fields of action for the coming years under the motto “We make trade successful”. In the future, the ANWR Group will strongly focus on the ...
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ArticleDesigner Brands expands in Canada as Q1 sales inch up
Designer Brands returned to modest sales growth in its first quarter ended May 4, as it bolstered its presence in Canada with the acquisition of the Canadian footwear retailer Rubino and its 28 stores. “Rubino currently operates stores that offer nearly identical atmospheres and assortments to that of our own ...
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ArticleClarks swings to annual loss as ‘discount-hungry’ consumers spurn full prices
C&J Clark (No1) Limited, the parent company of the Clarks brand, swung to a full-year loss as it grappled with inflation, weak demand for full-price stock, global conflict, oversupply and a large asset impairment charge in 2023. Revenues for the 12 months to December 31 rose by 14 percent to ...
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ArticleGenesco Q1 sales fall 5% but beat expectations as Journeys makes progress
Sales at Genesco declined by a reported 5 percent to $457.6 million in the first quarter of fiscal year 2025 but were above management expectations of a mid-to high percentage decrease amid signs of progress at Journeys, the division whose turnaround remains the company’s main priority. At constant-currency rates, sales ...
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ArticleCaleres maintains outlook after Q1 sales fall short of expectations
Caleres maintained its guidance for a top line this year that is flat to up 2 percent compared to the year earlier after reporting sales in the first quarter ended May 4 that were slightly worse than expectations. First-quarter sales at Caleres fell by 0.5 percent to $659.2 million, versus ...
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ArticleJimmy Choo suffers from softening demand for luxury goods
In the fourth quarter ended March 30, Jimmy Choo, the luxury footwear brand owned by Capri Holdings, posted revenues of $137 million, down by 9.3 percent on both a reported and constant currency basis. The group said that the decline was driven primarily by “softening demand globally for fashion luxury ...
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ArticleDr. Martens targets up to £25m in cost savings as FY sales, profits slump
Dr. Martens is targeting up to £25 million (€29.3m) in cost savings and maintained its full-year guidance outlined in its profit warning last month as continuing woes in the US led to a slump in annual revenue and profit. Previously, the company indicated that overall earnings could slump by as ...
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ArticleBirkenstock hikes FY guidance after record Q2 revenues
Birkenstock Holdings increased its full-year guidance after reporting record sales in the second quarter ended March 31. The group now expects full-year revenues to grow by 20 percent at constant exchange rates, up from a previous guidance of 17-18 percent, and predicts an adjusted Ebitda margin of 30.0 to 30.5 ...
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ArticleShoe Carnival continues to eye M&A as Rogan’s contributes to solid Q1 sales growth
Shoe Carnival expects that mergers and acquisitions (M&A) will remain a key part of its growth strategy after the recently acquired the US work and family footwear brand Rogan’s Shoes contributed to solid growth in its top line in the first quarter of its 2024 fiscal year. “Going forward, we ...
