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Article
Tod’s shareholder calls for higher bid price to delist company
Tabor Asset Management, a US investment company that has a 1.1 percent in Tod’s, is urging shareholders to reject a public tender to delist the Italian fashion group on the grounds that it does not fully value the company. On March 22, the Italian stock market regulator Consob approved the ...
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Asos, Boohoo, George at Asda commit to green claim rules in the UK
The UK’s Competition and Markets Authority (CMA) said that Asos, Boohoo and George at Asda have signed undertakings that commit them to an agreed set of rules around the use of green claims. The regulator also issued an open letter urging fashion retailers to review their claims and practices in ...
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H&M continues to target a 10% operating margin
In the first quarter ended Feb. 29, H&M Hennes & Mauritz significantly improved its bottom line as the Swedish fashion retailer strives to bolster its operating margins. The company saw sales gradually improve during the month of February thanks to “well-received” spring collections and confirmed its target of a 10 ...
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Asos’ sales plunge 18% in first half but guidance maintained
Asos reported a sharp fall in sales for the first half of its fiscal year due to slowing demand and large discounts to clear excess stock, but the British online fashion retailer insisted that its turnaround plan was on track and maintained annual guidance. Sales plunged by 18 percent in ...
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Stella improves its operating profits despite a decline in sales
In 2023, Stella International Holdings bolstered its operating and net profits despite declining revenues, down by 8.5 percent to $1,493 million. Shipments slumped by 12.5 percent year-on-year to 49.0 million pairs, but the average selling price grew to $29.7 a pair from $28.5 in 2022. By product categories, ...
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Shoe Carnival sees growth resuming this year
Shoe Carnival expects its top line to grow by 4.0 percent to 6.0 percent in fiscal year 2024 after falling by 6.8 percent to $1,176 million the year earlier, as the recent acquisition of Rogan’s Shoes, continued strength at the Shoe Station banner, e-commerce growth and improving trends at its ...
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Lululemon says response to footwear collection exceeds expectations
Lululemon said that the response to the launch in February of its new footwear collection, which includes its first models for men, “is exceeding” expectations. The Canadian producer of performance apparel for yoga, running and training entered the footwear market in March 2022 with the launch of its first running ...
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Tempe to build a new distribution center in Valencia region
Tempe, the footwear unit of Inditex, will build a new 141,000 square-meter distribution center in the Valencia region. The announcement was made by Inditex which plans to invest €900 million a year in 2024 and 2025 to increase its logistics capacity. The other projects include a new 286,000 square-meter distribution ...
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Lloyd continues to grow in 2023, sales soar by 9%
Lloyd Shoes continued to grow last year “as a result of positive developments across all business areas”, despite a “difficult overall situation,” the German shoemaker announced. Sales were up by 9 percent in the 2023 financial year, climbing to €128 million, up from €114.95 million in 2022, when the ...
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Golden Goose’s sales rose 18% in 2023
In 2023, Golden Goose increased sales by 18 percent at constant exchange rates to €587 million, amid speculation that it is preparing to be listing on the Milan stock exchange. The Italian premium sneaker brand increased adjusted Ebitda by 19 percent to €200 million, and adjusted Ebit by 22 percent ...
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Next maintains its guidance despite expectations of lower full-price sales
Next maintained its guidance for the year ending in January 2025 despite warning that growth in full-price sales could slow down. The British fashion company said it is still expecting pre-tax earnings of £960 million (€1.12bn) based on a 2.5 percent increase in full-price sales, with a 5 percent rise ...
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Designer Brands hit by a weaker footwear market
Designer Brands reported a decline in fourth-quarter sales due to a deterioration of the footwear market in North America. When announcing the results for the quarter ending on Feb. 3, the CEO, Doug Howe, said that the footwear company enjoyed a rebound in the latter part of the period but ...
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Caleres to bolster international presence with “outsized investments”
Caleres is focusing first on China as part of a strategy to build its international business, announcing the opening of 45 new Sam Edelman stores in the country this year and the return of its Naturalizer brand to China with 10 new stores in autumn 2024 and a digital relaunch. ...
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Spartoo posts a positive free cash flow
Spartoo booked a positive free cash flow of €0.7 million in 2023, compared with a negative €23.6 million in 2022, due to a reduction in working capital, thanks to a decrease in inventories, as well as a drop in investments to €1.3 million from €2.9 million. The group’s inventory fell ...
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Deichmann continues to grow in 2023
Deichmann continued to grow in 2023 despite difficult business conditions, especially in its home market. The German footwear retailer, which is present in 34 countries, generated gross revenues of €8.7 billion, or a net €7.4 billion, in 2023, up by just over 7 percent on a currency-adjusted basis. Like-for-like sales, ...
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Gabor’s sales are steady in 2023
The German shoe manufacturer Gabor Shoes reported steady sales in the fiscal year 2023 after a sharp rebound in 2022 and announced a management reorganization. The company, based in Rosenheim, in Upper Bavaria, said that total sales of all brands including licenses reached €322 million last year, less than 1 ...
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Kazakhstan sees a rise in footwear imports as local production remains low
Kazakh footwear manufacturers only covered a tiny part of domestic demand, and their market share is shrinking, a recent research showed. In 2023, Kazakh footwear companies manufactured 1.8 million pairs of shoes, up by 3.6 percent compared with the previous year, according to the Bureau of National Statistics. But last ...
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Shoepassion’s creditors clear its restructuring plan
Shoepassion’s creditors have cleared its restructuring plan, the insolvent Berlin-based footwear company said. The plan was confirmed by the Berlin-Charlottenburg district court. The omnichannel company started insolvency proceedings under self-administration on March 6 last year, joining a host of footwear companies swept away by a tidal wave of bankruptcies ...
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Heydude is the hottest casual footwear brand in the US - Brand Heat Index
Heydude is the hottest casual footwear brand, both among men and women in the US, while Allbirds fell out of the top 10 both for men and women, according to the 2024 U.S. Footwear and Apparel Brand Heat Index released by L.E.K. Consulting. “In 2024, competition in the footwear space ...
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Yue Yuen’s profit, sales slip in 2023
Yue Yuen, the globe’s largest manufacturer of footwear, suffered a down year in 2023 due to inventory de-stocking by retailers worldwide and conservative ordering by its portfolio of brand clients that include Nike, Adidas, Asics and New Balance, among others. Yue Yuen’s annual Ebit declined by 5.6 percent to $390.2 ...