Mister Spex lowers revenue forecast
German eyewear retailer Mister Spex SE announced it would likely not achieve its revenue target for the current financial year. On Monday evening, the company significantly downgraded its forecast.
For 2025, management now anticipates a revenue decline of 10 to 20 percent. Previously, a decrease of 5 to 10 percent had been expected. The company cited "revenue development in the second quarter falling short of expectations" as the reason.
The eyewear provider noted that it had deliberately limited price reductions in a "challenging" market environment. "Before the start of the summer season, increased discounting activity by competitors – particularly in the sunglasses segment and primarily in online business – led to additional price pressure," a statement said. "In line with its strategic direction within the SpexFocus transformation programme, Mister Spex deliberately refrained from joining this trend." Margin target remains unchanged
The company was able to maintain its annual forecast for its EBIT margin. This therefore remains at -5 to -15 percent, and would correspond to an "improvement of around 1.3 million euros", Mister Spex explained. The basis for this is "the consistent implementation of the SpexFocus transformation programme, which aims at sustainable cost reductions, increased operational efficiency and long-term profitability".
CEO Tobias Krauss reaffirmed the principles of the initiated realignment. "The adjusted revenue forecast for the 2025 financial year clearly shows that the strategic change of course initiated with SpexFocus is having an effect – in particular through the consistent focus on profitability," he emphasised in a statement. "Improving our EBIT to around six million euros in just five months is a clear signal. Focusing on profitability, efficiency and customer benefit was the right decision." This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mirror
2 hours ago
- Daily Mirror
Florian Wirtz pictured with Liverpool star as medical booked for record signing
Liverpool are set to complete their record-breaking deal for Florian Wirtz imminently, with the German international to complete a medical ahead of his move to the Premier League champions Florian Wirtz is spending some quality time with Jeremie Frimpong before the two officially become team-mates again. Frimpong has already made the switch from Bayer Leverkusen to Liverpool, arriving in a deal worth £29.5million. Less than a month after that was confirmed, Wirtz will make the same journey and join the Premier League champions in what will be the blockbuster transfer of the summer. The German international is set for his medical with Arne Slot's side later this week after Liverpool finally reached an agreement to pay an initial £116m - potentially rising to £124.6m. Should those clauses be triggered, the deal will smash the existing British transfer record set when Moises Caicedo joined Chelsea for £115m in 2023. The formalities are still to be completed, with Wirtz expected to complete a medical on Friday before a formal announcement. But before he lands in Merseyside, Wirtz has shared a picture with Frimpong on a boat, basking in glorious sunshine with the full back sharing the post with the caption "my boy". Wirtz signing for Liverpool is a statement of intent for the Reds, who saw off competition from Bayern Munich to land Germany's hottest talent. He had been expected to remain in the Bundesliga and move to Munich, only to decide on a move to the Premier League instead. That decision hasn't gone down well back in Germany, with rivals of all-conquering Bayern even admitting they would have liked to see him stay. "It's a real shame, especially for the DFL (German Football League), that a player like Florian Wirtz is disappearing from the Bundesliga," Borussia Dortmund chief Hans-Joachim Watzke said earlier this week. "I wouldn't have had a problem at all if he had gone to FC Bayern. That would have been better for the Bundesliga. He could have played better with Musiala in Munich, but two such good footballers find each other anyway." But the arrival of Wirtz is the latest step in Slot's ambitious summer plan as he looks to build on a first season which saw him help Liverpool to their 20th top-flight title. Frimpong has been recruited to replace Trent Alexander-Arnold who left for Real Madrid. And Bournemouth's Milos Kerkez is also expected to make the move to Anfield to take over from Andy Robertson, while a striker could also be signed to add to their attacking riches. "We just want good players and ideally you sign them as soon as you can,' Slot said before the summer window opened. But it's not always easy to sign good players, let alone to sign them early in the window. But this club doesn't start working from today onwards. "There is so much hard work being done behind the scenes already this season to find out which targets we have and try to sign them. I have all the confidence that if we've addressed the right player that we try to sign that player.' He added: "But let's see when that's going to happen and if that's going to happen because I'm very happy with the squad we already have. Radical changes you will probably not see because that would be a bit weird if you won the league.'
Scottish Sun
4 hours ago
- Scottish Sun
English city's oldest shop is forced to shut after 160 YEARS in business as Brits mourn ‘huge loss'
Locals were saddened to hear the 'terrible news' END OF AN ERA English city's oldest shop is forced to shut after 160 YEARS in business as Brits mourn 'huge loss' Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) ONE of Britain's oldest shops has been forced to shut after 160 years due to soaring bills. WH Mogford & Son in Westbury-on-Trym, Bristol has been serving customers in its 'Aladdin's Cave' hardware store since the 1860s. Sign up for Scottish Sun newsletter Sign up 5 & Son in Bristol has closed after 160 years Credit: Jon Rowley 5 The 'Aladdin's Cave' hardware store has been open since the 1860s Credit: Jon Rowley 5 Owner Paul Gillam, 57, said rising bills and decreased footfall have forced him to close Credit: Jon Rowley Owner Paul Gillam, who has spent 30 years working at the shop, said it was time to close permanently due to rocketing bills. He told The Sun: 'It's a culmination of footfall dropping off, banks closing in the high street, people shopping online, and the cost of amenities, bills and staffing costs. 'It wasn't an easy decision. It's taken me a couple of years to come to the decision to close down. 'I'm disappointed for the regular customers but it's the right decision at this time.' Paul, 57, added: 'I will take a couple of weeks off then I need to find another job.' The shop, which serves a once bustling high street on the outskirts of Bristol, will pull down the shutters for the last time in September. One Bristol local, who grew up nearby, described the imminent store closure as 'terrible news'. Another replying to Paul's post on Facebook breaking the news, replied: 'Very sorry to hear this. 'I have known the shop my entire life. 'There will be many many saddened people when they hear this news. Popular bank with over 400 spots confirms it is shutting 18 branches in August – it follows 148 closures by rivals 'Mogfords has been a much loved and relied upon business in the village throughout generations.' Another said: 'You will be very much missed. My sons call your shop 'the shop that sells everything'." 'As a fellow business owner I am aware of the significant rise in operating costs over the last few years. I can't imagine how difficult this decision has been for you. 'On behalf of the local community a huge thank you and best wishes for your next 'chapter'.' 5 Locals were saddened to hear of the shop's closure Credit: Jon Rowley 5 The shop will close for good in September Credit: Jon Rowley It comes as shops across the country struggle to survive in the changing consumer landscape. Both chain stores and independents have closed at an alarming rate, citing decreased footfall and rising prices as the reason behind the closures.
Fashion United
5 hours ago
- Fashion United
France consumes more new fashion than ever amid transition to circularity
Purchases of new clothing, footwear and household linen reached a record high in France in 2024, with an average of 42 items per person, the organisation Refashion revealed at a press conference on Tuesday. In 2024, 3.5 billion new pieces were purchased, or 10 million per day, Vanessa Gutierrez, head of studies at Refashion, the body tasked by the government with supporting the fashion industry towards a more circular economy, told AFP. Of these 3.5 billion new pieces, 2.9 billion were clothing items, 259 million were pairs of shoes and 362 million were household linen items. To develop this overview, Refashion analysed the data that must be provided by the nearly 10,000 brands selling textiles in France, including Asian platforms such as Shein and Temu. On average, in 2024, each French person bought 42 new garments, one more than in 2023 (plus 2.4 percent), Refashion detailed. Following the 'inflationary pressure' of 2023, household budgets eased, which explains this recovery in textile and footwear consumption, according to Gutierrez. Womenswear and menswear increased (plus 5 percent and plus 3.6 percent, respectively), but the category that experienced the largest increase was household linen (plus 9.3 percent), which is explained by "the arrival on the market of players with accessible prices", according to Gutierrez, without naming brands. The children's and babywear sections declined (minus 0.6 percent and minus 5.4 percent, respectively) due to the falling birth rate and, undoubtedly, the shift by consumers towards pre-loved fashion in this sector. Consumers opted for companies that sell exclusively online (Zalando, Shein, etc.), which recorded plus 29.9 percent sales in volume, as well as discount and clearance stores (plus 10.3 percent). "If we excluded these two categories, the market would remain relatively stable," Gutierrez noted. Hypermarkets suffered a 5.1 percent drop in their textile sales, but high street chains and shopping centres fared well, with plus 2.8 percent. Accessible prices were prioritised, as 71 percent of the items purchased were entry-level. Market research firm Kantar and Refashion also conducted a study on pre-loved fashion, which in 2023 reached over 63,500 tonnes, or 7.1 percent of global textile and footwear consumption in France. Over a third of French people are customers and four percent declare themselves to be exclusive buyers of pre-loved items. The preferred channels remain peer-to-peer purchases (Vinted, Leboncoin, flea markets and car boot sales, etc.), which represent 46 percent of sales, followed by the social and solidarity economy sector (Red Cross, Emmaüs, etc.), with 33 percent, and companies selling to individuals (second-hand shops, corners in shops, etc.), with 21 percent.(AFP) This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
