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Retail Net sales of US fashion retailer Express at $383.3 mn in Q1 FY23 26 May '23 3 min read Pic: Jonathan Weiss / Shutterstock.com Insights Express has reported a 15 per cent YoY decrease in consolidated net sales to $383.3 million in Q1 FY23.Comparable retail sales declined 13 per cent in comparison to Q1 FY22.The company's gross margin for Q1 FY23 stood at 16.6 per cent of net sales.EBITDA for Q1 FY23 was negative $55.9 million, a significant downturn from $5.8 million in Q1 FY22. Express, Inc, a leading US-based fashion retailer, has reported a 15-per cent decrease in consolidated net sales to $383.3 million in the first quarter (Q1) of fiscal 2023 (FY23), down from $450.8 million in Q1 FY22. This drop was reflected in a 14-per cent decline in consolidated comparable sales.In Q1 FY23 Comparable retail sales, which includes both Express stores and e-commerce, declined 13 per cent in comparison to Q1 FY22. This decline was led by an 18 per cent drop in retail stores comparable sales, and a 7 per cent decline in e-commerce comparable sales. Additionally, comparable outlet sales also saw a decrease of 17 per cent in comparison to Q1 FY22, the company said in a media release.Gross margin for Q1 FY23 stood at 16.6 per cent of net sales, a significant decrease of approximately 1,260 basis points from 29.2 per cent in Q1 of the previous year. This contraction in merchandise margin by 900 basis points was primarily due to a challenging macroeconomic and highly promotional retail environment, and an additional 320 basis points of royalty expense related to the joint venture with WHP.Express has reported a 15 per cent YoY decrease in consolidated net sales to $383.3 million in Q1 FY23. Comparable retail sales declined 13 per cent in comparison to Q1 FY22. The company's gross margin for Q1 FY23 stood at 16.6 per cent of net sales. EBITDA for Q1 FY23 was negative $55.9 million, a significant downturn from $5.8 million in Q1 FY22.Selling, general, and administrative expenses in Q1 FY23 were reported at $139.3 million, 36.4 per cent of net sales, slightly down from $141.1 million, 31.3 per cent of net sales, in the same period last year."Our first quarter comparable sales were negative 14 per cent due to a combination of external factors and challenges in our product assortments. The reduced consumer spending, increased price sensitivity in discretionary categories and aggressive promotional activity across the industry that began in 2022 continued into the first quarter of this year and negatively impacted our performance. We continued to take corrective actions to address the imbalances in our women's assortment architecture and delivered sequential improvement in women’s sales as the quarter progressed. However, we experienced a deceleration in our men's and outlet stores businesses due to softness in traffic and against the backdrop of record volume in the first quarter of 2022," said Tim Baxter, chief executive officer.Express reported an operating loss of $70.1 million in Q1 FY23, compared to a much smaller operating loss of $9.1 million in Q1 FY22. The company also reported a net loss of $73.4 million, or $0.99 per diluted share, a substantial increase from a net loss of $11.9 million, or $0.18 per diluted share, in the first quarter of the previous year.Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for Q1 FY23 were negative $55.9 million, a significant downturn from $5.8 million in Q1 FY22. Fibre2Fashion News Desk (DP) More Retail News - United States Of America...

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Fashion US' a.k.a. Brands' net sales at $120 mn in Q1 FY23 20 Apr '23 1 min read Pic: a.k.a Brands Insights US' a.k.a. Brands has reported preliminary unaudited Q1 FY23 net sales of $120 million, exceeding its expected range of $113 million to $116 million.The company's adjusted EBITDA was $2 million to $2.2 million, exceeding its previously provided outlook of $1.5 million to $1.8 million.The net loss for the period was $9.7 million to $9.6 million. US-based a.k.a. Brands Holding Corp, a leading digital fashion company, has reported preliminary unaudited net sales of approximately $120 million for the first quarter (Q1) of fiscal 2023 (FY23), which is higher than the expected range of $113 million to $116 million. The company has also reported a net loss of approximately $9.7 million to $9.6 million, which is within management's expectations.The company’s adjusted EBITDA was approximately $2 million to $2.2 million in Q1 FY23. This figure exceeds the high end of its previously provided outlook of between $1.5 million and $1.8 million, a.k.a. Brands said in a press release.“I’m proud of our solid performance in the first quarter of 2023, which exceeded our expectations on both the top line and on an adjusted EBITDA basis,” said Ciaran Long, interim chief executive officer and chief financial officer of a.k.a. Brands. “I’m pleased with the strength of our brands and our disciplined execution during the quarter. We remain laser-focused on balancing growth and profitability, and we are confident that our growth strategies, flexible operating model, and talented teams will drive profitable growth.”US' a.k.a. Brands has reported preliminary unaudited Q1 FY23 net sales of $120 million, exceeding its expected range of $113 million to $116 million. The company's adjusted EBITDA was $2 million to $2.2 million, exceeding its previously provided outlook of $1.5 million to $1.8 million. The net loss for the period was $9.7 million to $9.6 million. Fibre2Fashion News Desk (DP) More Fashion News - United States Of America...

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Technische Details Erscheinungsdatum: Q1'23 Status: veröffentlicht Verpackungsmedium: E1A Speichergeschwindigkeit (maximal): 4800 MHz Unterstützte Speichertypen: DDR4-SDRAM Prozessor-CPU-Modell: w5-3435X Maximale Prozessortaktfrequenz: 4,7 GHz Prozessorbetriebsmodus: 64 Bit Schritt : E5 Prozessor Speichertyp: Smart Cache Prozessortyp: Intel? Xeon W Anzahl der Prozessorkerne: 16 Anzahl der Threads: 32 Prozessor-Codename: Sapphire Rapids CPU-Cache: 45 MB Prozessorhersteller: Intel Box: Ja CPU-Sockel: FCLGA4677 Effektive Kerne: 16 Prozessor-Basisfrequenz: 3,1 GHz ARK-Prozessor-ID: 233421 Basisleistung des Prozessors: 270 W Bustyp: DMI4 Maximale Turboleistung: 324 W Grafik Integriertes Grafikkartenmodell: Nein Separates Grafikkartenmodell: Nein Integrierte Grafik: Nein Dedizierte Grafikkarte: Nein Speicher Unterstützte Speicherkanäle: acht Kanäle Maximaler vom Prozessor unterstützter interner Speicher : 4000 GB Vom Prozessor unterstützte Speichertypen: DDR4-SDRAM ECC-Korrektur: Ja Eigenschaften Maximale Prozessorkonfiguration: 1 Steckplatzversion (PCI Express): 5.0 Verfügbare integrierte Optionen: Nein Maximale Anzahl von PCI Express-Lanes: 112 Unterstützte Befehlssätze: AVX-512, AMX, AVX 2.0, SSE4.1, SSE4.2 Enable Disable Bit (EDB) Technologie: Ja Nutzungsbedingungen: Positionsskalierung: 1S Export Control Classification Number (ECCN): 5A992C Automated Commodity Classification Tracking System (CCATS) : G180729 Direct Media Interfaces (DMI) ) Version: 4.0 Marktsegment: Arbeit Gewicht und Abmessungen Prozessorpaketgröße: 77,5 x 56,5 mm Betriebsbedingungen Gehäuse: 72 °C DTS Max: 98 °C Besonderheiten des Prozessors Intel-Technologie? Turbo Boost: 2.0 Neue AES-Anweisungen (Intel? AES-NI): Ja Intel Virtualisierungstechnologie? (Directed I/O) (VT-d): Ja Intel-Technologie? Hyper Threading (Intel? HT-Technologie): Ja Erweiterte Intel SpeedStep-Technologie: Ja Intel Virtualisierungstechnologie? (VT-x): Ja Intel-Technologie? Zuverlässige Ausführung: Ja Intel-Technologie? Director of Resources (Intel? RDT): Nicht Intel? VT-x mit Extended Page Tables (EPT): Ja Intel Transaction Synchronization Extensions: Ja Intel Technology Frequency? Turbo Boost Max 3.0: 4,7 GHz Intel? Virtualisierungstechnologie mit Umleitungsschutz (VT-rp): Ja Management System Mode Based (MBE): Ja Intel-Technologie? Software-Sicherheitserweiterungen (Intel? SGX): Nicht von Intel? Betriebssystemschutz: Ja Intel Full Memory Encryption: Ja Intel Software Acceleration? Schnelle Hilfe: Nicht Intel? Advanced Matrix Extensions (AMX): Ja Intel® Platform Software Resilience Support: Ja Intel vPro? Eignung für Unternehmensplattformen: Ja, Intel? Aktive Managementtechnologie (Intel? AMT): Ja AVX-512 Fused Multiply-Add (FMA) Einheiten: 2 Intel? Remote Platform Erasure (RPE): Nicht Intel Threat Detection Technology (TDT): Nicht Intel? Turbo Boost Max 3.0-Technologie: Ja Intel Full Memory Encryption? - Mehrere Schlüssel: Kein fester Intel-Speicher unterstützt? besessen? DC: Nicht Intel? Analytics Accelerator (IAA): 0 Standardgeräte im Speicher Intel? Übertaktungstechnologie: Ja, Intel-Technologie? Control and Flow Execution (CET): Ja Frequenz der Intel-Technologie? Turbo Boost 2.0: 4,5 GHz Intel? 64: Ja Intel? Deep Learning Boost (Intel? DL Boost): Ja, Intel-Plattform-Berechtigung? vPro?: Ja Intel One Click Recovery?: Nein Intel? Data Stream Accelerator (DSA): 1 Standardgeräte Intel? Dynamic Load Balancer (DLB): 0 Standardgeräte Intel? QuickAssist-Technologie (QAT): 0 Standardgeräte Intel? Gepäckschutz: Ja Weitere Funktionen Maximale Speicherkapazität: 4000 GB Logistikdaten Harmonisiertes System (SS) Code: 8542310001.

Financial Highlights (Standalone) Q1 FY24 Q1 FY23 Y-O-Y FY23 FY22 Y-O-Y Total Income 143.31 129.97 10.27% 532.79 482.08 10.52% EBITDA 28.41 23.41 21.36% 111.65 105.47 5.86% Profit before Tax 25.45 20.93 21.60% 100.46 95.93 4.72% Net Profit 19.01 15.01 26.66% 72.90 69.36 5.11% E.P.S (Rs.) 9.49 7.49 26.66% 36.40 34.63 5.11% (Amount in [...]

Apparel/Garments US' Skechers reports record sales of $2 bn in Q1 FY23 28 Apr '23 3 min read Pic: Solarisys / Shutterstock.com Insights Skechers has reported a 10 per cent YoY increase in sales to a record high of $2 billion in Q1 FY23, driven by strong international growth and direct-to-consumer sales.The company reported a gross margin of 48.9 per cent, and a decrease in domestic sales by 4.8 per cent.Skechers expects sales between $7.9 billion and $8.1 billion for fiscal 2023. Skechers, an American footwear and apparel company, has reported a 10 per cent year-on-year (YoY) increase in sales to a record high of $2 billion for the first quarter (Q1) of fiscal 2023 (FY23), driven by a 21.1 per cent YoY increase internationally and a 4.8 per cent YoY decrease domestically. Both segments experienced growth, with direct-to-consumer increasing 24.5 per cent YoY and wholesale increasing 3.5 per cent YoY. On a constant currency basis, sales increased 13.3 per cent YoY.The company wholesale sales growth in Q1 FY23 increased by $43.3 million, which includes increases in Europe, the Middle East, and Africa (EMEA) of 20.1 per cent YoY and Asia-Pacific (APAC) of 24.1 per cent YoY, partially offset by a decrease in Americas (AMER) of 13.2 per cent YoY. Wholesale average selling price increased by 5.3 per cent YoY, while volume decreased by 1.9 per cent YoY, Skechers said in a press release.Skechers has reported a 10 per cent YoY increase in sales to a record high of $2 billion in Q1 FY23, driven by strong international growth and direct-to-consumer sales. The company reported a gross margin of 48.9 per cent, and a decrease in domestic sales by 4.8 per cent. Skechers expects sales between $7.9 billion and $8.1 billion for fiscal 2023.Direct-to-consumer sales growth in Q1 FY23 increased by $139 million, which includes increases in AMER of 28.6 per cent YoY, APAC of 17.9 per cent YoY, and EMEA of 29.5 per cent YoY. Direct-to-consumer volume increased by 27.2 per cent YoY, while average selling price decreased by 2.2 per cent YoY.The gross margin was 48.9 per cent YoY in Q1 FY23, an increase of 360 basis points, due to higher average selling prices in wholesale and a greater mix of direct-to-consumer sales.In Q1 FY23, operating expenses increased by $106.7 million, or 16.5 per cent YoY, and as a percentage of sales increased 210 basis points to 37.7 per cent. Selling expenses increased by $20.4 million, or 18.8 per cent YoY, and as a percentage of sales increased 50 basis points to 6.4 per cent. General and administrative expenses increased by $86.4 million, or 16 per cent YoY, and as a percentage of sales increased 160 basis points to 31.3 per cent.Earnings from operations in Q1 FY23 increased by $47.7 million, or 27.1 per cent YoY, to $223.6 million, while net earnings were $160.4 million, and diluted earnings per share were $1.02, compared with prior year net earnings of $121.2 million and diluted earnings per share of $0.77.The company reported that inventory was $1.50 billion, a decrease of $315.8 million or 17.4 per cent YoY from December 31, 2022.For the second quarter of 2023, Skechers believes it will achieve sales between $1.85 billion and $1.90 billion and diluted earnings per share of between $0.40 and $0.50. Further, the company believes that for the fiscal 2023, it will achieve sales between $7.9 billion and $8.1 billion and diluted earnings per share of between $3.00 and $3.20, the release added.David Weinberg, chief operating officer of Skechers, said: “Our first quarter 2023 marks a new milestone with quarterly sales of over $2 billion. The 10 per cent, or $182 million, sales increase was the result of broad strength in most markets globally, including regional sales improvements of 21 per cent in both EMEA and APAC, which includes growth of 3 per cent in China.“With an increase of 24.5 per cent worldwide, direct-to-consumer performed particularly well due to the improved inventory availability in stores and strong demand for our fresh comfort product offering. Our record sales, expanded gross margins of 48.9 per cent, and meaningfully improved inventory levels are an indication of the strength of our comfort technology products and impactful marketing worldwide. With plans to reach $10 billion in annual sales by 2026, we couldn’t be more positive about the many meaningful growth opportunities we see ahead.” Fibre2Fashion News Desk (DP) More SKECHERS USA Inc News... More Apparel/Garments News - United States Of America...

Retail UK retailer Matalan's revenue at £263.6 mn in Q1 FY24 26 Jul '23 1 min read Pic: cktravels.com / Shutterstock.com Insights UK-based omni-channel fashion and homeware retailer Matalan's revenue was £263.6 million in the first quarter of fiscal 2024, down 8 per cent compared to £286.5 million in Q1 FY23. The company's EBITDA in Q1 FY24 was £26.1 million, while the EBITDA margin was 9.9 per cent. In FY24, Matalan expects EBITDA range under IAS17 of £60-£65 million. Matalan, a UK-based leading omni-channel fashion and homeware retailer, has reported a total revenue of £263.6 million in the first quarter (Q1) of fiscal 2024 (FY24), a decline of 8 per cent compared to £286.5 million in Q1 FY23. The company’s EBITDA post adoption of IFRS 16 was £26.1 million, with the EBITDA margin of 9.9 per cent.For fiscal 2024, the company expects EBITDA range under IAS17 of £60-£65 million, Matalan said in a press release.Jo Whitfield, chief executive of Matalan, said: “I am really excited that the team are now in place and are bringing the strength of their impressive retail experience into play as we get moving on the opportunities to underpin profitable growth. They have landed with immediate positive impact and are upweighting our activities and focus across the business in areas such as design, ranging, sourcing, supply chain, people and omni channel operations.UK-based omni-channel fashion and homeware retailer Matalan's revenue was £263.6 million in the first quarter of fiscal 2024, down 8 per cent compared to £286.5 million in Q1 FY23. The company's EBITDA in Q1 FY24 was £26.1 million, while the EBITDA margin was 9.9 per cent. In FY24, Matalan expects EBITDA range under IAS17 of £60-£65 million.“The business had a challenging first quarter with cost of living pressure resulting in depressed consumer spending in discretionary categories. Unseasonal weather delayed a refresh of wardrobes for early spring creating a tough start to the season.” Fibre2Fashion News Desk (DP) More Matalan PLC News... More Retail News - United Kingdom...

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Textiles Indian textile firm RSWM's sales grew 38% in Q1 FY23 09 Aug '22 2 min read Pic: RSWM RSWM Ltd, one of India’s largest manufacturers and exporters of value added synthetic, mélange, blended spun yarns and denim fabric, has announced that its sales for the first quarter (Q1) of fiscal 2023 (FY23) ended June 30, 2022, reached ₹1,024 crore, up 38 per cent from ₹742 crore in Q1 FY22. EBITDA went from ₹90 crore in Q1 FY22 to ₹141 crore in Q1 FY23.Upbeat sentiments in domestic markets drove consumer demand and market witnessed a buoyant demand. School uniform season increased demand for yarn, while wedding season increased footfalls on retail end, the company said in a media release.Domestic demand of the company witnessed a strong growth, increasing 62 per cent year-over-year (YoY). Export sales were in-line with Q1 FY22 at ₹286 crore and exports-maintained momentum YoY despite of recession concern. RSWM’s cost optimisation programme helped in maintaining the profit margin.RSWM Ltd, one of India's largest manufacturers and exporters of value added synthetic, mélange, blended spun yarns and denim fabric, has announced that its sales for the first quarter (Q1) of fiscal 2023 (FY23) ended June 30, 2022, reached ₹1,024 crore, up 38 per cent from ₹742 crore in Q1 FY22. EBITDA went from ₹90 crore in Q1 FY22 to ₹141 crore in Q1 FY23.#Strong realisation led to PAT growth at ₹67 crore up 81 per cent from ₹37 crore in Q1 FY22. Higher raw material prices are getting absorbed by end users; but it still continues to remain a concern for the industry.Additionally, a 30,000 spindles yarn capacity unit at Gulabpura and denim fabric and knitting units at Banswara undertaken last year, started commercial production from July 1, 2022.The company’s debt to equity was 0.89 as on June 30, 2022.Commenting on the results, Riju Jhunjhunwala, chairman and managing director of RSWM Ltd, said: “For Q1 FY23 our focus on execution and cost controls have helped us achieve a strong Q1 performance, where we have increased revenues and improved margins YoY. We have commenced our knitting unit and other expanding capacities in Gulabpura and Banswara, this will put us in a strong position for the coming quarters.“While commodity prices continue to remain our concern, cost reduction programme and strong positioning is helping us in maintaining profit margin. We remain committed to future growth plans with focus on enhancing our product portfolio, geographical reach and improving efficiencies of higher return on investments. We now look into the future with excitement and confident in our ability to drive continuing value for our stakeholders by delivering the strategic business plan.” Fibre2Fashion News Desk (KD) More Textiles News - India...

Fashion Italy's Brunello Cucinelli posts revenue growth of 34.7% in Q1 FY23 20 Apr '23 2 min read Pic: Vytautas Kielaitis / Shutterstock.com Insights Brunello Cucinelli has reported a 34.7-per cent growth in net revenues for Q1 FY23 compared to Q1 FY22.Retail channel revenues were up 63.7 per cent over Q1 FY22, while wholesale channel sales grew 4.7 per cent.The Americas saw the largest percentage increase in sales at 42.9 per cent.The company expects an overall growth of 15 per cent in FY23. Italian luxury fashion house Casa Di Moda Brunello Cucinelli has reported net revenues of €265.3 million in the first quarter (Q1) of fiscal 2023 (FY23), marking a growth of 34.7 per cent at current exchange rates (32.8 per cent at constant exchange rates) compared to Q1 FY22. The results are attributed to a strong performance in both the retail and wholesale channels.In Q1 FY23, the retail channel saw revenues of €164 million, up 63.7 per cent over Q1 FY22, with a relative sales weight of 61.8 per cent. Meanwhile, the wholesale channel recorded sales of €101.3 million, up 4.7 per cent compared to Q1 FY22, accounting for 38.2 per cent of sales, the company said in a press release.The company's Italy revenues rose by €27.6 million in Q1 FY23, a 13.8 per cent increase compared to Q1 FY22, accounting for 10.4 per cent of sales. Europe (excluding Italy) recorded sales of €67.9 million, up 16.6 per cent compared to the first quarter of FY22, accounting for 25.6 per cent. Americas' sales were €95.5 million, up 42.9 per cent compared to Q1 FY22, and accounted for 36 per cent of sales. Asia recorded sales of €74.3 million, up 56 per cent compared to the first three months of FY22, with a sales weight of 28 per cent.Brunello Cucinelli has reported a 34.7-per cent growth in net revenues for Q1 FY23 compared to Q1 FY22. Retail channel revenues were up 63.7 per cent over Q1 FY22, while wholesale channel sales grew 4.7 per cent. The Americas saw the largest percentage increase in sales at 42.9 per cent. The company expects an overall growth of 15 per cent in FY23.The fashion house expects an overall growth of around 15 per cent in fiscal 2023.Brunello Cucinelli, executive chairman and creative director, said: “The first quarter of this year closed with excellent results. There is no doubt that we are reaping the fruits of the positive period that our brand is experiencing for the style it represents and perhaps also for the way we share our ideas with all of our counterparts.“As regards our market segment of absolute luxury, we continue to have a very positive vision for the entire coming year. Every day we are working on new projects for high quality, exclusive, hand-crafted garments, and it pleases us to imagine that they express a refined and contemporary taste.” Fibre2Fashion News Desk (DP) More Fashion News - Italy...

The Indeed Hiring Tracker of Q1, FY23, is based on a survey of 1,229 employers and 1,508 employees during April-June 2022.The findings further revealed that 37 per cent of all jobseekers looked for a job or a job change during the quarter, compared to 46 per cent during the previous quarter, it added.

Retail American retailer Kohl's gross margin climbs to 39% in Q1 FY23 26 May '23 2 min read Pic: Sundry Photography / Shutterstock.com Insights US retailer Kohl's Q1 FY23 results saw a 3.3-per cent YoY drop in net sales to $3.4 billion and a 4.3-per cent YoY decline in comparable sales.However, gross margin rose by 67 bps to 39 per cent.Operating income improved to $98 million, and net income remained stable at $14 million, with EPS of $0.13.Inventory decreased by 6 per cent YoY. American department store chain Kohl's Corporation has reported an increase its gross margin as a percentage of net sales to 39 per cent in the first quarter (Q1) of fiscal 2023 (FY23), representing a growth of 67 basis points. The company registered a 3.3-per cent year-over-year (YoY) decrease in net sales, dropping to $3.4 billion, and the comparable sales declined by 4.3 per cent YoY.The retail corporation reported a 4.2-per cent YoY reduction in selling, general, and administrative expenses, which stood at $1.2 billion. Consequently, selling, general, and administrative expenses, as a percentage of total revenue, decreased by 13 basis points YoY to 34.7 per cent.Operating income saw a noticeable improvement, reaching $98 million as compared to $82 million in the prior year. This resulted in a 55-basis point increase in operating income as a percentage of total revenue, reaching 2.8 per cent, the company said in a media release.US retailer Kohl's Q1 FY23 results saw a 3.3-per cent YoY drop in net sales to $3.4 billion and a 4.3-per cent YoY decline in comparable sales. However, gross margin rose by 67 bps to 39 per cent. Operating income improved to $98 million, and net income remained stable at $14 million, with EPS of $0.13. Inventory decreased by 6 per cent YoY.“Our first quarter results were in line with our expectations and represented a first step as we work to drive sales and earnings performance over the long-term. We delivered margin expansion, as well as a 6 per cent reduction in inventory. In addition, our stores business achieved productivity gains and Sephora at Kohl’s continued its sales momentum,” said Tom Kingsbury, Kohl’s chief executive officer.Kohl's also recorded a net income of $14 million or $0.13 per share, maintaining the same income level as the prior year, but with a per share increase from $0.11.In terms of inventory, the company reported a figure of $3.5 billion, marking a decrease of 6 per cent YoY. However, the operating cash flow reflected a usage of $202 million. Fibre2Fashion News Desk (DP) More Kohl's Department Store News... More Retail News - United States Of America...

Apparel/Garments German sportswear firm Puma reports 19.7% rise in sales in Q1 FY22 03 May '22 2 min read Pic: Puma One of world’s leading sportswear brands Puma has reported sales increase of 19.7 per cent to €1,912.2 million in the first quarter (Q1) of fiscal 2022. The operating result increased to €196 million as opposed to €154.3 from Q1 the year before.Puma’s wholesale sales increased by 23.3 per cent to €1,528.2 million and the direct-to-consumer business was up by 7.1 per cent to €384 million.The increase was led by strong sales in the US with a growth of 44.1 per cent and sales in Middle East and Africa (EMEA) were up 25.5 per cent. All the product divisions witnessed a double-digit growth. Footwear grew 18.2 per cent, apparel 16 per cent and accessories sales rose to 32.2 per cent. The growth was driven by a strong demand for the company’s performance categories like running and training, team sports, golf and basketball, and the sportstyle category.German brand Puma's sales have increased by 19.7 per cent to €1,912.2 million in the first quarter (Q1) of fiscal 2022. The operating result increased to €196 million as opposed to €154.3 from Q1 the year before. Puma's wholesale sales increased by 23.3 per cent to €1,528.2 million and the direct-to-consumer business was up by 7.1 per cent to €384.0 million.#“We have had the highest growth rates in the performance categories like running, football, basketball and golf, which confirms that our investments into innovation and marketing are paying off,” Bjorn Gulden, CEO, Puma said in a release.The gross profit margin declined to 47.2 per cent and net earnings increased from €109.2 million to €121.4 million in the first quarter of 2022.“Based on such a strong first quarter, we would normally raise our outlook for the full year. The COVID-19 outbreak in China, the crisis in Ukraine, a very tight freight situation and inflationary pressures are all uncertainties that force us to remain very flexible and to manage our business as well as possible in the short-term without hindering PUMA’s mid-term momentum. We see further upside on the revenue side, but also increased pressure on our OPEX and gross margin due to all the uncertainties,” Gulden further added.Puma expects an operating result in the range of €600 to €700 million and a sales growth of at least 10 per cent in fiscal 2022. Fibre2Fashion News Desk (HO) More Puma AG News... More Apparel/Garments News - Germany...

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Apparel/Garments Puma's Q1 FY23 sales up 14.4% YoY in Q1 FY23, driven by EMEA region 26 Apr '23 3 min read Pic: Gina Hsu / Shutterstock.com Insights Puma has reported a 14.4 per cent YoY increase in sales to €2,187.7 million in Q1 FY23, with key growth drivers in the EMEA and Asia Pacific regions.Footwear sales grew by 28.8 per cent YoY, while apparel sales increased by 1.5 per cent YoY.However, gross profit margin declined by 70 basis points YoY, and operating expenses increased by 19 per cent YoY. German sportswear brand Puma has reported a 14.4 per cent year-on-year (YoY) increase in sales (ca) to €2,187.7 million in the first quarter of fiscal 2023 (FY23). The Europe, Middle East, and Africa (EMEA) region and Asia Pacific were key drivers of growth, with sales increasing by 25.4 per cent YoY and 27.4 per cent YoY respectively. Sales in the Americas declined slightly due to a drop in North America, but Latin America continued to show strong growth.Puma's footwear sales in Q1 FY23 grew by 28.8 per cent YoY, driven by continued strong demand for performance categories like football, basketball, running and golf, as well as for the sportstyle category. Apparel sales also increased by 1.5 per cent YoY, while accessories declined by 1.7 per cent YoY, mainly due to softer leg- and bodywear business in North America, the company said in a press release.Puma has reported a 14.4 per cent YoY increase in sales to €2,187.7 million in Q1 FY23, with key growth drivers in the EMEA and Asia Pacific regions. Footwear sales grew by 28.8 per cent YoY, while apparel sales increased by 1.5 per cent YoY. However, gross profit margin declined by 70 basis points YoY, and operating expenses increased by 19 per cent YoY.Puma's wholesale business increased by 12.4 per cent YoY to €1,722.1 million in Q1 FY23, while the direct-to-consumer (DTC) business was up by 22.5 per cent YoY to €465.5 million. The strong growth in DTC, especially in e-commerce, was primarily driven by continued brand momentum and improved product availability. The wholesale distribution channel continued to grow at a double-digit rate despite high inventory levels in the trade.However, Puma's gross profit margin in Q1 FY23 declined by 70 basis points YoY to 46.5 per cent, and operating expenses increased by 19 per cent YoY to €848.3 million. As a result, the operating expenses ratio increased by 150 basis points YoY to 38.8 per cent, and the operating result (EBIT) decreased by 10.5 per cent YoY to €175.5 million. Net income also decreased by 3.4 per cent YoY to €117.3 million.The company’s working capital in Q1 FY23 increased by 74.3 per cent to €1,751.5 million, compared to €1,004.8 million in Q1 FY22. Inventories were up by 32.7 per cent to €2,147.3 million, compared to €1,618.3 million in Q1 FY22.Puma expects high single-digit percentage currency-adjusted sales growth and operating result (EBIT) in a range of €590 million to €670 million for FY23. For the second quarter of FY23, the company expects low to mid single-digit sales growth due to high inventory levels in the trade and continued headwinds in the market, the release added.“Our Q1 growth was a strong start to 2023. In line with our strategy to be the best partner to retailers, we grew our wholesale business in a challenging environment and further strengthened our performance credibility with strong growth in our strategically important performance categories. Our significant growth in DTC demonstrated Puma’s continued brand momentum globally, including North America and Greater China,” said Arne Freundt, chief executive officer of Puma. Fibre2Fashion News Desk (DP) More Puma AG News... More Apparel/Garments News - Germany...

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Infosys released its first quarterly result for FY23, recording a 5.5 per cent sequential growth and 21.4 per cent YoY growth in constant currency.

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The Indeed Hiring Tracker of Q1, FY23, is based on a survey of 1,229 employers and 1,508 employees during April-June 2022.The findings further revealed that 37 per cent of all jobseekers looked for a job or a job change during the quarter, compared to 46 per cent during the previous quarter, it added.

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Retail US firm Ethan Allen's net sales at $163.9 mn in Q1 FY24 26 Oct '23 2 min read Pic: wolterke - stock.adobe.com Insights US-based company Ethan Allen reported a 23.6 per cent decline in consolidated net sales to $163.9 million for Q1 FY24, affected in both retail and wholesale sectors. Despite this, the company saw an improved consolidated gross margin of 61.1 per cent. Diluted EPS fell to $0.58, and inventories marginally increased to $149.6 million in Q1 FY24. Ethan Allen, a leading US-based interior design company and manufacturer and retailer of quality home furnishings, has reported consolidated net sales of $163.9 million for the first quarter of fiscal 2024 (Q1 FY24), a decline of 23.6 per cent compared to the same period last year. The sales figures were hit on both retail and wholesale fronts, with retail net sales falling by 27.3 per cent to $133.6 million and wholesale net sales dropping by 13.3 per cent to $99.4 million.The retail segment saw written orders fall by 13.2 per cent, while the wholesale segment experienced a 15.6 per cent decrease in written orders, the company said in its Q1 FY24 results.Despite the decline in sales, the consolidated gross margin showed improvement, rising to 61.1 per cent from 60.4 per cent a year ago. The operating margin stood at 11.2 per cent, with an adjusted operating margin of 12.1 per cent, although this is lower than the 17.6 per cent observed last year.US-based company Ethan Allen reported a 23.6 per cent decline in consolidated net sales to $163.9 million for Q1 FY24, affected in both retail and wholesale sectors. Despite this, the company saw an improved consolidated gross margin of 61.1 per cent. Diluted EPS fell to $0.58, and inventories marginally increased to $149.6 million in Q1 FY24.Diluted EPS for the quarter was $0.58, down from $1.17 in the same quarter last year. The adjusted diluted EPS also saw a decrease, falling to $0.63 from $1.11. However, it’s worth noting that the adjusted diluted EPS for the three months ending September 30, 2019, before the pandemic, was $0.35.As for inventories, the net total amounted to $149.6 million at the end of September 2023, showing a marginal increase compared to $149.2 million at the end of June 2023.“Our first quarter consolidated net sales were impacted due to major flooding in our Vermont manufacturing plant and strong prior year results that benefited from delivery of pandemic related written order backlog. Also, as expected, the economy has slowed down. Despite these challenges, we were able to maintain a strong gross margin of 61.1 per cent and an adjusted operating margin of 12.1 per cent,” said Farooq Kathwari, Ethan Allen’s chairman, president, and CEO. Fibre2Fashion News Desk (DP) More Ethan Allen News... More Retail News - United States Of America...