February 23, 2022
Net income slipped 68% in the final quarter to €7.9 million ($9.0 mm) from €24.7 million despite 16% higher revenues of €1,767.1 million ($2,019.5 million) up from €1,520.1 million, that was powered by a 33% jump in the Americas region to €727.3 million on strength in North America and Latin America.
The bottom line had less red ink in the fourth quarter this year, with a net loss of $14.6 million against a loss of $170.7 million a year ago, as revenues climbed 25% to $635.6 million from $509.6 million.
Net income was up 158% in the final quarter to $173,896,000 from $67,352,000 on sales that increased 14% to $784,251,000 from $690,155,000, including 17% higher activewear sales to $627 million and 3% growth in hosiery and underwear sales to $157 million.
Net loss widened 12% to $10,440,000 from $9,351,000 on revenues that were up 23% to $97,218,000 from $79,276,000, including U.S. sales that improved 25% to $76,932,000, while international was up 14% to $20,286,000.
Authentic Brands Group has named Farfetch Limited’s New Guards Group as its operating partner for the Reebok brand across Europe.
Sierra parent TJX will ramp up the omni-channel outdoor banner’s brick-and-mortar footprint this year, growing it from 59 stores currently by about 20 doors.