GLOBAL RETAIL NEWS

Canada Goose’s wholesale revenue declines 17 per cent, margins increase to 72.2 per cent in Q3 of Fiscal 2023

Canada Goose reported wholesale revenue declined 17.3 per cent year-on-year (YoY) the company said in a press release. Meanwhile, gross margins grew to 72.2 per cent in the third quarter of fiscal 2023, ended January 1, 2023.

The company reported revenue of US$576.7 million, down 1.6 per cent from the prior year quarter, largely due to timing of wholesale shipments and lower revenue in Mainland China related to COVID-19 disruptions.

Direct-to-consumer (DTC) revenue grew 1.5 per cent while revenue in the US grew 11.3 per cent annually; revenue decreased in Canada and Europe, Middle East, and Africa (EMEA) due to earlier timing for wholesale shipments and lower e-commerce performance, partially offset by increased sales within existing stores. Revenue in Asia Pacific (APAC) region declined due to COVID-19 related disruptions in Mainland China.

For fiscal 2023, Canada Goose expects total revenue of $1.175-1.195 billion compared to previous guidance of $1.2001.300 billion provided in Q2 FY23 earnings release.

For the fourth quarter of fiscal 2023, the company expects total revenue of $251-$271 million.

Columbia Sportswear’s Q4 net sales up 4 per cent, hit record US$1.17 billion

Columbia Sportswear’s net sales increased by 4 per cent to a record high of US$1,169.6 million in the fourth quarter (Q4) of fiscal 2022 (FY22), compared to Q4 FY21. Operating income decreased 27 per cent to $155.4 million, or 13.3 per cent of net sales, compared to Q4 FY21 operating income of $211.6 million, or 18.7 per cent of net sales.

Net sales in FY22 increased 11 per cent to a record $3.46 billion, compared to FY21.

For FY23, the company expects net sales of $3.57 to $3.67 billion, representing net sales growth of 3-6 per cent compared to FY22.

Skechers’ sales surge 13.5 per cent in Q4 Skechers reported a 13.5 per cent year-on-year (YoY) increase in net sales to US$1.88 billion in the fourth quarter (Q4) of fiscal 2022 (FY22), ended December 31, 2022. The company’s growth was mainly due to 22.3 per cent YoY increase in sales domestically and an 8.7 per cent YoY increase internationally.

Wholesale sales growth of $142.4 million, or 15.7 per cent YoY, was led by increases in Europe, Middle East, and Africa (EMEA) of 31.1 per cent YoY and North, Central, and South America (AMER) of 18.6 per cent YoY.

Direct-to-consumer sales growth of $81 million, or 10.8 per cent YoY, was led by increases in AMER of 27 per cent YoY and EMEA of 19.1 per cent YoY.

Skechers’ FY22 sales increased 18 per cent YoY reflecting a 20 per cent increase domestically and 16.6 per cent internationally.

For the fiscal 2023, the company expects sales between $7.75 billion and $8.0 billion and diluted earnings per share of between $2.80 and $3.00.

Bangladesh’s apparel exports to reach $56 billion by 2026: CAL Research

Bangladesh’s apparel industry is likely to face a contraction in the short term, while a strong rebound is expected next year, leading to exports hitting $56 billion by 2026, growing at a compounded annual rate of 5.3 per cent, predicts CAL Bangladesh, a Sri Lankan capital market financial services company.

A slowdown in major apparel markets will weigh down on the country’s apparel exports in 2023, it noted. Inflation will

Source: Fibre2Fashion.com also push wage rates higher and gas shortage will increase production costs squeezing margins, the company noted in a report.

A fall in cotton prices stemming from waning global cotton consumption will, however, likely help ease price pressures, while the high local value addition and currency depreciation will benefit apparel exporters, said the report titled ‘Rags First But Riches to Follow’.

HanesBrands’ net sales reach $1.47 billion in Q4 FY22

HanesBrands has reported net sales of US$1.47 billion, a decline of 16 per cent year on year (YoY), in the fourth quarter (Q4) of fiscal 2022 (FY22).

The company’s Champion brand sales decreased 18 per cent on a reported basis as compared to prior year, with a 21 per cent decline in the US and a 13 per cent decline internationally.

In Q4 FY22, the company’s innerwear business segment’s sales decreased 19 per cent compared to last year. Activewear sales declined 16 per cent compared to last year as continued growth in the collegiate channel for both Champion and Hanes brands was more than offset by declines in other channels due to lower point-of-sale trends and higher activewear inventory levels at retail.

International sales decreased 12 per cent on a reported basis, including the $55 million from unfavourable foreign exchange rates. International sales decreased 2 per cent on a constant currency basis compared to prior year as growth in Asia was offset by declines in Australia, the Americas, Europe, and Canada.

For fiscal 2023, which ends on December 30, 2023, the company currently expects net sales from continuing operations of approximately $6.05 billion to $6.20 billion.