Business
New Balance Londonderry factory groundbreaking
Boston-based global athletic leader New Balance broke ground at the future site of New Balance Londonderry, as the company adds New Hampshire to its New England locations for its sixth U.S. athletic footwear manufacturing facility.
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In its quarterly report from July to September, Suominen, the manufacturer of nonwovens as roll goods for wipes and other applications form Finland, announced a decline in turnover and a slight improvement in EBITDA for the quarter. The annual outlook for 2023 EBITDA remains unchanged and is expected to increase compared to the previous year's figure of EUR 15.3 million.
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adidas today announced preliminary results for the third quarter of 2023. In Q3, currency-neutral revenues increased 1% versus the prior year level. In euro terms, the company’s revenues declined 6% to € 5.999 billion (2022: € 6.408 billion). The company’s gross margin improved 0.2 percentage points to 49.3% in Q3 (2022: 49.1%). Operating profit reached € 409 million during the quarter (2022: € 564 million), reflecting an operating margin of 6.8% (2022: 8.8%). While the company’s performance in the quarter was again positively impacted by the sale of parts of its remaining Yeezy inventory, the underlying adidas business also developed better than expected.
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NatureWorks, a leading manufacturer of polylactic acid (PLA) biopolymers made from renewable resources has made significant progress on the construction of their new fully integrated Ingeo™? PLA biopolymer manufacturing facility in Nakhon Sawan Province, Thailand. As a fully integrated PLA complex, the plant will include three manufacturing facilities: lactic acid fermentation, lactide monomer production, and polymerization. The facility will have an annual capacity of 75,000 tons of Ingeo biopolymer and produce the full portfolio of Ingeo grades. This effort reflects the company’s commitment to expanding customer access to fully biobased, low-carbon biomaterials with unique performance attributes valued by global downstream packaging and fiber markets.
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“Q1 offered proof of what NIKE can deliver when we connect great innovation, great storytelling and great marketplace experiences to consumers,” said John Donahoe, President & CEO, NIKE, Inc. “Moving forward, we are laser-focused on scaling these successes with greater consistency and speed as we continue to integrate and streamline our business. This is how we’ll extend our leadership position and drive growth over the long-term.”**
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Glatfelter lowers outlook for 2023 Adjusted EBITDA after Q3 results
Glatfelter Corporation (NYSE: GLT), a leading global supplier of engineered materials, reported financial results for the third quarter of 2023 and provided an update on the Company's Turnaround Strategy to improve operational and financial performance despite challenging market conditions.
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HUGO BOSS records strong top- and bottom-line improvements in Q3 and confirms full-year outlook
HUGO BOSS continued its double-digit growth trajectory in the third quarter of 2023, once again posting robust top-line improvements across both brands, all regions, and all consumer touchpoints. This performance, first and foremost, reflects the ongoing momentum of BOSS and HUGO, spurred, in particular, by the successful launch of their Fall/Winter 2023 collections in August as well as exciting fashion events. Consequently, Group sales increased by 15% currency-adjusted to EUR 1,027 million (Q3 2022: EUR 933 million) and by 10% in Group currency, respectively.
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Business
VF Corporation reports second quarter fiscal 2024 results and announces reinvent, a comprehensive transformation program
VF Corporation (NYSE: VFC) today reported financial results for its second quarter (Q2'FY24) ended September 30, 2023, and announced a transformation program and quarterly per share dividend of $0.09, a 70% decrease from the previous quarter’s dividend. As the company implements the initiatives associated with Project Reinvent, it is withdrawing its FY24 revenue and earnings outlook and updating its FY24 free cash flow guidance.
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Re:NewCell gives warning for sales, profit and cash flow
The ramp up of Circulose sales to fiber producers is taking a longer time than previously expected. Sales volumes to fiber producers are behind the levels previously expected and are not likely to follow the volumes implied for 2023 by existing off-take agreements. This has had an impact primarily on working capital and cash flow in Q3 and is expected to impact sales, profit and cash flow in Q4.
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Levi Strauss & Co. reports third-quarter 2023 financial results
“In the third quarter, we delivered double-digit growth in our direct-to-consumer business, driven by strong comp-store gains, which helped offset continued softness in the wholesale channel, primarily in the U.S.,” said Chip Bergh, president and chief executive officer of Levi Strauss & Co. “We are focused on the levers within our control, and the actions we took in the third quarter are beginning to drive improvements in U.S. wholesale trends. As we look longer term, we remain confident in our ability to achieve our goals given the global strength of the Levi’s® brand, the momentum in our direct-to-consumer business globally and the exceptional growth potential of our product portfolio and our international business.”
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Business
Lenzing with new outlook for 2023
Lenzing Group lowers its forecast for earnings development in the 2023 financial year.
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Infinited Fiber Company welcomes new Board members
Infinited Fiber Company announced its new Board of Directors. Their deep expertise and robust business experience from areas such as finance, industrial production, fashion industry and textile circularity, will contribute greatly to steering the company successfully through its next phase: building the first commercial-scale circular Infinna™ factory in Northern Finland, while also planning for the following plants.
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INDITEX reports very strong operating performance in its interim report for the first half of 2023
In 1H2023, Inditex continued with a very robust operating performance due to the creativity of the teams and the strong execution of the fully integrated business model.
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