Financial results – Page 6
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ArticleVF Corp. slashes FY revenue guidance, reports wider Q1 loss
VF Corp., the parent of The North Face (TNF) and Vans, welcomed its new President and CEO Bracken Darrell, 12 days on the job, to his first results call by reporting a Q1 loss of $57.4 million against a loss of $55.96 million in the year-ago period on an 8 ...
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ArticleCoats Group forecasts gradual demand improvement in H2
The U.K.-based maker of industrial yarns and structural components for footwear and apparel faced H1 headwinds due to difficult year-over-year comparisons and widespread industry destocking. Adjusted operating profit slipped by 14 percent to $107 million from $125 million for the six months ended June 30. Revenues fell by 11 percent ...
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ArticleSkechers raises profit forecast as DTC and international shine in Q2
Skechers raised its guidance for earnings in the full year after its direct-to-consumer (DTC) and international operations performed strongly in the second quarter ended June 30. While its domestic wholesale business underperformed as expected, overall revenues rose by a reported 7.7 percent to $2,012.5 million and were 9.1 percent higher ...
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ArticleFrasers scores double-digit FY23 revenue gains in all segments
U.K. retailer Frasers Group, bolstered by acquisitions and a strong performance from its core Sports Direct business, generated a 61 percent increase in annual operating profit to £531.8 million (€613.2m) for the 53 weeks ended April 30. Adjusted profit before tax rose by 41 percent to £478.1 million. FY gross ...
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ArticleMeta up in Q2 except in the metaverse
“We had a good quarter,” is CEO Mark Zuckerberg’s summation. “We continue to see strong engagement across our apps, and we have the most exciting roadmap I’ve seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall.” ...
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ArticleHoka paces Deckers in Q1, company lifts FY guidance
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in Q1/24 net income to $63.6 million versus 44.8 million for the three months ended June 30. Operating income was 26 percent higher year-over-year at $70.7 million. Total net sales ...
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ArticleCrocs’ shares take hit as Heydude sales outlook tempered
Crocs Inc. generated more than $1 billion in Q2 revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance on July 26 to surpass the $4 billion mark, but its share price plummeted more than 14 percent, nonetheless. By mid-afternoon, the company’s shares were on pace to ...
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ArticleMoncler Group’s H1 revenues surpass €1 billion for first time
Consolidated H1 revenues rose by 24 percent in both reported and constant currency for the Moncler Group to €1.14 billion from €918.4 million for the six months ended June 30. Moncler brand sales rose by 29 percent to €935.0 million and Stone Island sales increased by 4 percent on a ...
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ArticlePuma maintains full-year guidance despite challenging market as Q2 sales tick up 6%
Puma confirmed its guidance for the full year and hinted at a possible upgrade after sales in the second quarter rose by a reported 5.9 percent compared to the year earlier, or 11.1 percent in local currencies, to reach €2,121 million. It also indicated it would be able to adjust ...
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ArticleThule reports best-ever gross margin, higher cash flow from ops
Despite experiencing lower profitability and sales in Q2, Thule Group generated a record quarterly gross margin and a 47 percent increase in cash flow from operations as the Swedish company continued to prepare for new product introductions over the next 18 months. Sales for the three months ended June ...
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ArticleXXL initiates new operating model under new CEO; reports Q2 loss
Norwegian retailer XXL ASA reported another weak quarter of results but also some progress on its initiative to develop a new operating model under CEO Freddy Sobin, who has been on the job for two-and-a-half months. The Q2 Ebitda loss was 57 million Norwegian kroner (€4.9m), which included a NOK ...
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ArticleNike eyes “healthy, full price growth” as inventory woes dissipate
Having surpassed $51 billion in annual revenues and normalized its inventory level through markdowns and order cancellations, Nike says it’s better positioned than smaller rivals as it commences FY24 with a strategy to grow total revenues by mid-single digits, expand reported gross margin by 140 to 160 basis points despite ...
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ArticleSportsShoes.com reports 20% sales growth in Q1, 140,000 new customers
SportsShoes.com has announced sales figures for its Q1 of the fiscal year that began March 1, 2023. According to the report, the British e-tailer, which was founded in 1982, saw its sales surge by 20 percent year-on-year to £83.8 million (€97.3m). At the same time, it added 140,000 new customers ...
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ArticleSSU lands €150 million in funding, says worst of market disruptions are over
Signa Sports United (SSU), while bracing for less-than-stellar FY23 results impacted by macroeconomic headwinds and high industry inventory levels, is taking steps to generate €100 million in Ebitda savings by FY25 and less operational complexity in FY24 that will return it to profitable, long-term growth. Meanwhile, the Germany-based e-commerce company, ...
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ArticleJD Sports sees softer North America but holds guidance
JD Sports Fashion reported some softening in trade in its North American business in June, but this would be offset by growth in demand in the UK, Europe and Asia Pacific – allowing it to maintain annual guidance. Despite the US and Canadian markets’ slowdown, the UK retailer still expects ...
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ArticleVuzix OEM consumer smart eyewear business enters countdown phase
At its annual general meeting, held last week at the company’s headquarters, Vuzix announced that it plans to sell 50,000 to 75,000 enterprise products in 2023. The smart glasses supplier predicts that the market for such smart glasses will grow 20- to 50-fold to $2.5 billion by 2028, and estimates ...
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Amer Sports gets upgraded by S&P Global
Amer Sports, the parent of Arc’teryx, Salomon and Wilson brands, last week received an upgrade on its credit rating to B+ from B and a stable outlook from S&P Global. The credit rating agency, which is projecting revenue growth of 17 to 18 percent for Amer this year and 8 ...
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ArticleRecord year for Sport 2000 International
Sports retail group Sport 2000 International looks back on a very successful year, closing FY22 with gross sales of €6.5 billion. With the goal of becoming “an agile, future-oriented premium retail service organization,” the company is initiating a transformation and growing even closer together as an international sports retail network. ...
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ArticleSkechers announces progress on inventory and international business
At Deutsche Bank’s Global Consumer Conference, Skechers told investors that demand, traffic and conversion rates remain healthy. However, the lingering impact of the summer 2022 retail inventory build is still expected to be a headwind for the rest of 2023. The U.S. wholesale market has helped support the bottom line ...
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ArticleZumiez sales continue to slip as Europe, Australia outperform
Zumiez sales decreased by a reported 12.8 percent in the four weeks ended May 27 compared to the year earlier, continuing to trend downwards after its top line in the first quarter ended April 29 fell by 17.1 percent to $182.9 million. Management attributed the decrease to a challenging marketplace, ...
