Earnings Wrap: Allbirds Reports Latest Results + More

FN keeps track of all of our earnings coverage for retailers and footwear companies here.

Nov. 8, 2022: Allbirds, Inc. (BIRD)

Earnings: Net loss was $25.2 million in the third quarter of 2022 compared to $13.8 million in the third quarter of 2021, and net loss margin was 35.0% compared to 22.0% in the third quarter of 2021.

Sales: Net revenue increased 16% to $72.7 million over the same time last year and increased 54% compared to 2020.

CEO Comments: “We delivered a strong quarter in what remains a highly dynamic operating environment. I am proud that we exceeded our Q3 adjusted revenue and adjusted EBITDA guidance targets while also delivering on our sustainability goals,” said Joey Zwillinger, co-founder and co-CEO. “Looking ahead to year end and 2023, we continue to expect macro headwinds to persist but believe that our brand, our growth strategy, and simplification initiatives position us well to emerge strongly from this period. Thanks to the team’s hard work I remain confident in our ability to continue to execute into the holiday season and next year.”

Outlook: Allbirds is maintaining its guidance targets for full year 2022. The company expects adjusted net revenue of $305 million to $315 million for the full year, representing growth in the range of 10% to 14%.

crocs
Crocs Classic Clog
CREDIT: COURTESY OF CROCS

Nov. 3, 2022: Crocs, Inc. (CROX)

Earnings: Net income was $169.3 million in Q3. Diluted earnings per share was $2.72. Adjusted diluted earnings per share increased 20.2% to $2.97.

Sales: Consolidated revenues were $985.1 million, up 57.4% over 2021.

CEO comments: “Our exceptional third quarter results, including record revenue and industry-leading adjusted operating margin of 28% are a testament to the strength of the Crocs and Hey Dude brands,” said CEO Andrew Rees.

Outlook: Crocs expects revenue to hit between $3.455 and $3.520 billion, with adjusted diluted earnings per share between $9.95 and $10.30.

Under Armour UA SlipSpeed
Under Armour UA SlipSpeed.
CREDIT: COURTESY OF UNDER ARMOUR

Nov. 3, 2022: Under Armour (UA)

Earnings: Net Income was $87 million. Adjusted net income was $92 million. Diluted earnings per share was $0.19. Adjusted diluted earnings per share was $0.20.

Sales: Revenue was up 2% to $1.6 billion

CEO Comments: “We’re pleased to have delivered second-quarter results that were in line with our expectations,” said Under Armour interim president and CEO Colin Browne. “While we anticipate the immediate macroeconomic backdrop to stay uncertain — we are taking a balanced approach to mitigate near-term pressures while continuing to focus on the long-term strength of our brand.”

Outlook: Under Armour expects revenue growth at a low single-digit percentage rate. The company now expects diluted earnings per share between $0.56 and $0.60

TORONTO, ONTARIO, CANADA - 2016/08/13: Logo of Steve Madden hanging from a tile wall. Steve Madden is a footwear company. (Photo by Roberto Machado Noa/LightRocket via Getty Images)
CREDIT: LIGHTROCKET VIA GETTY IMAGES

November 2, 2022: Steve Madden (SHOO)

Earnings: Net income was $61.3 million, or $0.79 per diluted share.

Sales: Revenue increased 5.3% to $556.6 million.

CEO Comments: “While we expect the macroeconomic backdrop to remain unpredictable in the coming quarters, we believe we are well-positioned due to our strong brands, agile business model and proven ability to navigate difficult market conditions.” said CEO Edward Rosenfeld. “Looking out further, we are confident that our unique competitive advantages will enable us to drive sustainable growth and value creation over the long term.”

Outlook: For fiscal year 2022, Steve Madden expects sales to grow between 12.5% to 13.5% over last year. The company expects diluted EPS in the range of $2.77 to $2.79.

sneaker
CREDIT: RETAILER

Oct. 27, 2022: Deckers Brands (DECK)

Earnings: Net income in the second quarter of 2023 was $101.5 million, down from $102.1 million the same time last year.

Sales: Net sales increased 21.3% to $875.6 million compared to $721.9 million the same time last year.

CEO Comments: “Deckers’ strong performance in the first half of fiscal year 2023 is a testament to our team’s execution, despite a challenging macroeconomic backdrop,” said Dave Powers, president and CEO. “As we head into the Ugg brand’s peak selling season and continue to fuel expanding demand for Hoka performance footwear, we are confident in our ability to deliver our maintained full year guidance.”

Outlook: Net sales for full fiscal year 2023 are still expected to be in the range of $3.45 billion to $3.50 billion.

Amazon Prime Day 2022
CREDIT: AFP VIA GETTY IMAGES

Oct. 27, 2022: Amazon.com, Inc. (AMZN)

Earnings: Net income decreased to $2.9 billion in the third quarter of 2022, or $0.28 per diluted share, compared with $3.2 billion, or $0.31 per diluted share, in third quarter 2021.

Sales: Net sales increased 15% to $127.1 billion in the third quarter, compared with $110.8 billion in third quarter 2021.

CEO Comments: “There is obviously a lot happening in the macroeconomic environment, and we’ll balance our investments to be more streamlined without compromising our key long-term, strategic bets,” Andy Jassy, Amazon CEO said in a statement. “What won’t change is our maniacal focus on the customer experience, and we feel confident that we’re ready to deliver a great experience for customers this holiday shopping season.”

Outlook: Net sales for the fourth quarter of 2022 are expected to be between $140.0 billion and $148.0 billion, or to grow between 2% and 8% compared with fourth quarter 2021.

Sorel Kinetic Breakthru sneaker
Sorel’s Kinetic Breakthru sneaker.
CREDIT: COURTESY OF SOREL

Oct. 27, 2022: Columbia Sportswear Company (COLM)

Earnings: Net income increased 11% in the third quarter of 2022 to $111.8 million, or $1.80 per diluted share, compared to net income of $100.6 million, or $1.52 per diluted share, for the comparable period in 2021.

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