1 month ago | By Fashion United

Third quarter revenue at VF Corporation decreased 6 percent or 8 percent in constant dollars to 3 billion dollars driven by store closures and lower consumer demand as a result of the Covid-19 outbreak and related government actions and regulations. VF said, gross margin decreased 250 basis points to 54.7 percent and on an adjusted basis, gross margin decreased 150 basis points to 55.7 percent. Operating income for the quarter on a reported basis was 412 million dollars and on an adjusted basis, operating income was 458 million dollars, while operating margin was 13.9 percent and adjusted...
Read more ...

Tesla Reports $10 Billion USD in Revenue Over the Last Quarter

1 month ago | By Hypebeast

Tesla has just wrapped up the 2020 fiscal year with a strong fourth quarter, bringing in a whopping $10 billion USD in revenue. The figure translates to an impressive 46 percent increase in profits year-over-year as the EV manufacturer managed to deliver almost 500,000 cars last year, breaking its previous record by 36 percent. “2020 it was quite a year for us on many levels,” said Tesla executive Zachary Kirkhorn during an earnings call with reporters. “Despite a challenging environment, we reached an important milestone producing and delivering half a million cars.” Aside from vehicle...
Read more ...

Tendam Q3 sales drop by 23.1 percent

1 month ago | By Fashion United

Tendam Brands, the parent company of Tendam said, impacted by lockdowns, restrictions and limits on capacity across most of its markets during the second wave of the Covid-19 pandemic, particularly in November, the company's total sales in the third quarter stood at 197.2 million euros, down 23.1 percent, while like-for-like sales were down 16.7 percent.
The company added that online sales continued to climb during the period with a 79 percent increase, now accounting for 20 percent of the group's total sales in Spain.
Commenting on the results, Tendam Chairman and CEO, Jaume Miquel, said...
Read more ...

Joules H1 revenues slide; CFO Marc Dench decides to step down

1 month ago | By Fashion United

Joules Group revenue decreased by 15.3 percent due to enforced closure of non-essential retail with the company-owned stores closed for 10 of the 26 weeks to November 29, 2020. The company said PBT of 3.7 million pounds was ahead of expectations, while statutory PBT after exceptional costs of 2.4 million pounds, was down by 0.4 million pounds at 1.3 million pounds. The company also announced that Marc Dench, Chief Financial Officer, has decided to leave the company in the coming months, to take up a role in a different sector.
Commenting on the trading update, Nick Jones, Joules Chief...
Read more ...

Apple Breaks Quarterly Record With $111 Billion USD In Revenue

1 month ago | By Hypebeast

Apple has once again broken a new record for its largest-ever revenue in a single quarter, as shown on the company's latest earnings report. The tech giant amassed a total of $111.4 billion USD in revenue in Q1 of 2021. Not only is it an all-time high for Apple, but it indicates a growth of over 20 percent compared to previous years. Most of this success was attributed to the sale of Apple's various iPhone 12 models, raking in $65.6 billion USD in revenue - that's more than what the entire company was making just a few years ago. Of this amount, Greater China accounted for $21.3 billion...
Read more ...