Tag: margins

UWM returns to profitability in Q1 amid MSR sales, improved margins

UWM Holdings Corp., the parent of United Wholesale Mortgage (UWM), returned to profitability in the first quarter of 2024 despite higher rates, a lack of inventory and a decline in the fair value of its mortgage servicing rights (MSRs).  The quarter’s positive performance was supported by increased origination volumes at improved margins and servicing sales, which resulted [...]read moreUWM returns to profitability in Q1 amid MSR sales, improved margins

Rocket delivers $291M profit amid improved margins and MSR acquisitions

Rocket Companies, the parent of Rocket Mortgage, delivered a profit in the first quarter of 2024 through initiatives to reduce costs and increased investments in artificial intelligence (AI). In a contracting market, competitors exiting the space have allowed the company to improve market share and gain-on-sale margins. Ultimately, the Detroit-headquartered lender reported a GAAP net income [...]read moreRocket delivers $291M profit amid improved margins and MSR acquisitions

Kontoor sales dip on inventory woes and Europe, raises full-year earnings outlook on improved margins

Kontoor Brands on Thursday said revenue for the first quarter fell 5 percent to $631 million, hit by retailer inventory management actions in the U.S., a decrease in seasonal product sales, and lower international sales, particularly in Europe. Wrangler U.S. revenue fell 5 percent $492 million, with U.S. wholesale revenue falling 6 percent. Growth in owned [...]read moreKontoor sales dip on inventory woes and Europe, raises full-year earnings outlook on improved margins

Tapestry lifts 2024 profit forecast on China demand rebound, strong margins

By Reuters Published Feb 9, 2024 Coach parent Tapestry raised its annual profit forecast on Thursday, betting on full-price sales of its premium handbags and early signs of a demand recovery in key market China. See catwalkCoach – Spring-Summer2024 – Womenswear – Etats-Unis – New York – © Launchmetrics Tapestry’s shares closed 6.5% higher after [...]read moreTapestry lifts 2024 profit forecast on China demand rebound, strong margins

Tory Burch UK’s retail sales rise but gross margins dip

Tory Burch UK has filed its latest results with the company that operates the UK and German businesses for the American label saying that turnover rose by as much as 70.7% in the year to the end of December 2022. Turnover jumped to £24.4 million from £14.3 million a year earlier, although rather than indicating [...]read moreTory Burch UK’s retail sales rise but gross margins dip

Italian fashion industry to grow by 3.2% in 2023, but sector margins contracting

Translated by Cassidy STEPHENS Published Jan 2, 2024 According to data published by Confindustria Moda, the Italian fashion industry should close 2023 with sales of €111.7 billion, up 3.2%. This growth can be attributed exclusively to an increase in sales in value terms, while for the first time since the pandemic there has been a [...]read moreItalian fashion industry to grow by 3.2% in 2023, but sector margins contracting