Company Earnings Announcement
German sportswear firm Adidas AG, struggling to keep pace with larger US rival Nike, said it expected sales growth to slow in 2015 as it reported third-quarter results in line with forecasts.
Adidas reported third quarter operating profit fell 13 percent to EUR405 million (USD507 million) on sales of EUR4.118 billion, slightly ahead of average analyst forecasts for EUR399 million and EUR4 billion respectively.
In its first earnings report after its initial public offering (IPO) in the US, Alibaba reported strong revenue growth of 54 percent year on year for the third quarter that ended September 2014.
Jonathan Lu, Chief Executive Officer of Alibaba Group, said gross merchandize volume (GMV) for its China retail marketplaces increased 49 percent and annual active buyers increased 52 percent year on year.
Harvey Norman's sales have grown in the three months to September, driving a 24 percent rise in pre-tax profit.
The retailer's sales totalled AUD1.41 billion in the first quarter of the financial year, up 3.2 percent on the same period a year ago.
Like-for-like sales, which exclude the impact of new stores and closures, were up 3.4 percent from a year ago.
Amazon reported that net sales increased 20 percent to USD20.58 billion in the third quarter, compared with USD17.09 billion in third quarter of 2013.
“As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever,” said Jeff Bezos, founder and CEO of Amazon.com.
Gap Inc. reported a 1 percent increase in net sales for the month of September compared with the same period last year.
Net sales for the five-week period ended 4 October 2014 were USD1.48 billion compared with net sales of USD1.46 billion for the five-week period ended 5 October 2013.
Aeon Co. reported Friday that net profit plunged 91.4 percent to JPY2.02 billion (USD18.4 million) in the first half of the business year as weak consumer spending after the April consumption tax hike hurt the giant retailer’s mainstay supermarket business.
Nike Inc.'s sales are bulking up, as demand for its shoes and clothes grows even among people who have no intention of wearing them to a gym. The company's sales jumped 15 percent to USD8 billion in the three months that ended 31 August, sending its profit up 23 percent to USD962 million.
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Women may finally be favouring comfort over fashion, if sales of US footwear brand Skechers are any guide.
Skechers co-founder and president Michael Greenberg says sales of the company's impact-absorbent walking, running and casual shoes have risen by more than 35 percent in Australia in the June quarter, mirroring strong double-digit growth in its US and international operations.
Line Corp., operator of Japan's largest mobile messaging service, says its shopping mall application could become its biggest source of revenue, eclipsing sales from games and character stickers.
The Tokyo-based company, owned by South Korea's Naver Corp., started the Line Mall app in December. It lets users buy and sell secondhand clothes and new products recommended by friends, Takeshi Shimamura, head of commerce and media, said in a recent interview.
Prada Group said on Friday its net profit for the six months ended July 2014 amounted to EUR244.8 million (USD314.9 million), down from EUR308.2 million (USD395.3 million) a year earlier. Second-quarter net profit was EUR139.5 million (USD178.9 million), according to Reuters’ calculations, lagging analysts’ average forecast of EUR172.7 million (USD221.5 million). That compared with net profit of EUR170.1 million (USD218.2 million) a year earlier and EUR105.3 million (USD135 million) in the previous quarter.