December 2024
Q3 was a challenging quarter for most brands – regardless of what category they were in.
What is interesting is that the strong brands continued to get stronger.
Crocs saw both revenue (+2%) and net income increase (+13%).
In Luxury, Prada was the only winner, with same-stores sales of both Prada (+18%) and Miu Miu (+105%) showing solid growth.
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BRANDS
Crocs (USA) reported Q3 revenue increased 2% to $1.06 billion. Net income rose 13% to $199.8 million.
- HeyDude revenues fell 17.4% to $204 million.
Warby Parker (USA) reported Q3 revenue rose 13.3% to $192.4 million. Average revenue per customer rose by 7.5%. Net loss fell to $4.1 million, an improvement from a $17.4 million loss a year ago.
HanesBrands (USA) reported Q3 net sales decreased 2.5% to $937 million. Operating Profit increased 27% to $103 million.
VF Corp (USA) reported Q2 revenue fell 6% to $2.8 billion. Sales for all brands were down, and sales were down in key markets – except for APAC where sales rose 6%.
- The company earned a $52 million net profit, from a $451 million loss a year ago.
LUXURY
Prada (Italy) reported for the first nine months of the year net revenue rose 18% to €3.8 billion ($4.1 billion). Sales in Japan rose 53%.
- Same-store sales rose 18% for the quarter ended Sept. 30. Miu Miu sales were up 105%.
Tapestry (USA) reported Q1 2025 net sales were flat at $1.5 billion. Operating income fell 0.4% from a year ago.
- Sales fell in key regions including North America (-1%), China (-4%), Japan (-8%). However sales grew 27% in Europe and 11% in Asia (excluding Japan and China).
Moncler (Milan) reported Q3 revenue fell 3% to €635.5 million ($686 million).
- Sales fell in all markets, down 2% in APAC (its biggest market), down 3% in EMEA, and down 6% in the Americas.
Richemont (Switzerland) reported H1 sales fell 1% to €10.1 billion ($10.8 billion). Operating profit fell 17% to €2.2 billion ($2.4 billion).
