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Article Date: August 2023
Word Count: 179

Coats Group’s H1 Results Fall on Apparel Weakness

The industrial yarn and footwear component supplier saw revenues dip 11% to $715 million from $801 million in the first half, facing difficult year-over-year comparisons and widespread industry destocking. Excluding acquisition-related costs, adjusted operating profit slipped by 14% to $107 million from $125 million. Footwear segment revenues jumped 60% to $184 million and generated a 17% gain in adjusted operating profit to $38 million, but apparel revenues declined by 25% to $354 million, with a 29% bottom-line drop to $53 ... Log in to view full article.


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