• Lenzing reports 25.7 percent sales growth in Q1

    23 days ago - By Fashion United

    Image: Seth Laubinger for Lenzing Fibers Inc.
    Lenzing Group revenue grew by 25.7 percent to reach 615 million euros in the first quarter of 2022, due to continued high demand for wood-based biodegradable specialty fibres and higher fibre prices.
    First quarter EBITDA decreased by 7 percent to 88 million euros and the EBITDA margin reduced from 19.3 to 14.3 percent. Net profit for the quarter grew by 14.3 percent to 34.1 million euros, while earnings per share amounted to 0.87 euros compared to 1.06 euros in the first quarter of 2021.
    “Lenzing made a solid start to the 2022 financial year...
    Read more ...

     

  • Boohoo forecasts flat sales growth in H1 2023

    23 days ago - By Fashion United

    Image : Boohoo Man
    Boohoo Group Plc recorded a revenue increase of 14 percent reported and currency adjusted to 1.983 billion pounds in the year to February 28, 2022. Revenue over the two-year period increased by 61 percent from 1.235 billion pounds in 2020, at a time when apparel markets globally remain below pre-pandemic levels.
    The company said that the trends impacting performance in the second half of FY2022 are expected to continue, including: uncertain consumer demand; tough comparatives as well as reduced levels of net sales growth due to the annualisation of elevated returns rates...
    Read more ...

     

  • Revolve Group's Q1 net sales jump 58 percent

    23 days ago - By Fashion United

    Image: Revolve, Facebook
    Revolve Group, Inc. reported total net sales of 283.5 million dollars, an increase of 58 percent year-over-year.
    The company attributed the strong sales growth to quarterly growth of 201,000 active customers. Total active customers grew to 2 million, an increase of 38 percent.
    “We've had an exceptional start to the year, highlighted by 58 percent net sales growth, record quarterly growth in active customers, and record levels of net income and operating cash flow for any first quarter,” said the company's co-founder and co-CEO Mike Karanikolas.
    “Our customer...
    Read more ...

     

  • Hugo Boss posts strong sales growth, confirms positive outlook

    23 days ago - By Fashion United

    Image: Hugo Boss AG
    In the first quarter of 2022, Hugo Boss reported currency-adjusted sales increase of 52 percent to 772 million euros against the prior-year period and 17 percent currency-adjusted compared to the first quarter of 2019, representing a further acceleration as compared to the final quarter of 2021. In group currency, revenues increased 55 percent.
    The company's operating profit totaled 40 million euros, well above the prior-year level. Consequently, net income increased to 26 million euros.
    “We have made a kickstart to fiscal year 2022, with record first quarter sales,”...
    Read more ...