Business
HUGO BOSS exceeds full-year 2022 targets as strong momentum continues in Q4
Following its stellar business performance in the first nine months of 2022, HUGO BOSS maintained its strong momentum also in the final quarter of the year. On a preliminary basis, currency-adjusted revenues in the fourth quarter increased by 15% compared to the prior-year period, thus exceeding 2019 levels by 29%. In reporting currency, sales grew by 18% year over year to EUR 1,068 million (Q4 2021: EUR 905 million).
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The integration of trusted service partners strengthens relationships with local customers and creates opportunities to collaborate on future product development.
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Trützschler Card Clothing (TCC), technology leader in the manufacture of high-performance card clothings for textile yarn processing, is expanding its site in Neubulach, Germany. With the twelve-million-euro investment, the supplier for the international textile machinery industry is expanding its production, warehouse and office capacities. A groundbreaking ceremony will take place during the coming winter.
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The Lenzing Group, the world’s leading supplier of wood-based specialty fibers for the textile and nonwovens industries, suspended its guidance for the development of earnings in the 2022 financial year in view of the drastic deterioration of the market environment in the current quarter. The further course of the 2022 financial year can only be estimated to a limited extent due to the extremely low visibility on the demand side and the high volatility of energy and raw material costs.
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Toray Industries, Inc., announced today that subsidiaries Toray Textiles Central Europe s.r.o. (TTCE) and Toray Advanced Materials Korea Inc. (TAK) have set up new facilities in the Czech Republic to expand the Airlite™ automotive interior sound acoustic Insulation business in Europe. This material enhances passenger comfort by suppressing noise from driving, vibrations, and from outside vehicles. This new facility at TTCE’s facility in the Czech Republic will go on line in October this year, with an annual production capacity of 1,200 metric tons.
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A difficult year characterized by cost inflation and US demand challenges
The Finnish nonwovens manufacturer Suominen was able to increase its turnover by 11,3 % to EUR 493.3 million (443.2) in the financial year 2022 compared to the previous year. Due to various factors, however, EBITDA fell, resulting in a loss at the end of the year. For 2023, Suominen expects to be able to increase its comparable EBITDA.
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Ermenegildo Zegna Group ends FY 2022 with strong revenue(1) growth in line with strategic plan
Ermenegildo Zegna N.V. (NYSE:ZGN) (“Zegna Group,” “the Group,” or “the Company”), owner of the Zegna and Thom Browne brands, today announced preliminary and unaudited revenues of €1,493 million for the full year 2022, an increase of 15.5% year-over-year. Revenues for the fourth quarter of the year were €407 million, down 0.5% year-over-year. Revenues at constant currency (“cFX”)4 grew 11.0% and declined 2.9% in FY 2022 and 4Q 2022, respectively.
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Business
Lectra announces the acquisition of the majority of the capital of TextileGenesis
Lectra announces the signature of an agreement to acquire 51% of the capital and voting rights of the Dutch company TextileGenesis. As a major player in the fashion, automotive, and furniture markets, Lectra contributes with boldness and passion to the Industry 4.0 revolution by providing software, equipment, data, and services to brands, manufacturers, and retailers.
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Inditex interim half year 2022 results
In 1H2022, Inditex’s fully integrated model had a very strong operating performance. Sales, EBITDA and net income reached historic highs.
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Zegna Group reports strong First Half 2022 Results
Ermenegildo Zegna N.V. (NYSE:ZGN) (“Zegna Group,” “the Group,” or “the Company”) today announced revenues of €729.0 million for the six months ended June 30, 2022, up 21%2 year-on-year (“y-o-y”), and profit of €21.0 million. Adjusted EBIT for the period was at €82.7 million, with an Adjusted EBIT margin of 11.3% (+20bps y-o-y).
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Kimberly-Clark announces second quarter 2022 results
"I'm pleased to close the first half of the year with another quarter of excellent execution by our teams who delivered strong organic sales growth, with increases in all our segments. Our growth strategy is working," said Mike Hsu, Chairman and CEO, Kimberly-Clark. "Our results also reflect ongoing market volatility and significant input cost inflation. We continue to be thoughtful with our response to inflation, focusing on providing value to our consumers while leveraging price and cost discipline to mitigate macro headwinds for margin improvement over time."
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Well positioned for e-mobility and sustainability, but low production volumes and inflation impact profitability and the net result
Lower volumes due to geopolitical developments and the sharp rise in inflation impacted the result in the first half of 2022. In a slightly declining market, Autoneum increased revenue in local currencies by 0.5%. At CHF 888.7 million, revenue in Swiss francs reached the previous year’s level. Despite the challenging environment, Autoneum achieved a positive operating result of CHF 6.4 million (EBIT margin: 0.7%). The net result decreased to CHF –12.8 million.
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Slower recovery in Greater China and potential slowdown in other markets reflected in adjusted adidas outlook for financial year 2022
adidas announced today that the company is adjusting its outlook for the financial year 2022. While second quarter results were somewhat ahead of expectations reflecting continued strong momentum in Western markets and a return to growth in Asia-Pacific, the company has been experiencing a slower-than-expected recovery in its business in Greater China since the start of the third quarter.
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