• Richemont H1 profits widen as sales exceed pre-Covid levels

    24 days ago - By Fashion United

    Image: Chloé
    Swiss luxury group Richemont has reported surging sales in the first half of the year, ahead of pre-Covid 2019 levels.
    In the six months to September 30, sales at the group came in at 8.91 billion euros, up 63 percent at actual exchange rates compared to a year earlier, and up 20 percent compared to two years ago, prior to the outbreak of the pandemic.
    The group, whose portfolio includes Chloé, Yoox Net-a-Porter and Cartier, reported net income of 1.249 billion euros, up 685 percent from a year earlier and up 44 percent on a two-year basis.
    Richemont's Jewellery Maisons...
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  • Salvatore Ferragamo swings to profit in the nine month period

    24 days ago - By Fashion United

    Image: Salvatore Ferragamo, Facebook
    As of September 30, 2021, the Salvatore Ferragamo Group reported total revenues of 785 million euros, up 33.9 percent at current exchange rates and 35.3 percent at constant exchange rates. Revenues in the third quarter registered a 17.1 percent increase at current exchange rates and 17.4 percent at constant exchange rates.
    The pre-tax profit in 9M 2021 was positive for 69 million euros against 95 million euros negative in 9M 2020, while net profit for the period was positive for 40 million euros compared to 96 million euros negative in 9M 2020. Group...
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  • Mytheresa net sales increase 24.9 percent, raises forecast

    24 days ago - By Fashion United

    Image: Mytheresa, Facebook
    MYT Netherlands Parent B.V., the parent company of Mytheresa Group GmbH, reported GMV increase of 29.7 percent to 163.9 million euros and net sales increase of 24.9 percent to 157.8 million euros.
    The company also reported a strong gross profit margin of 49 percent compared to 46.4 percent in the prior year period, while adjusted EBITDA reached 14 million euros compared to 10.4 million euros in the prior year period.
    The company's adjusted operating income was 11.8 million euros compared to 8.4 million euros in the prior year period and adjusted net income was...
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