All Article articles – Page 101
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ArticleKingmaker’s profits are back in the black
Kingmaker, a major Chinese manufacturer of athletic and casual footwear, posted a net income of 65.5 million Hong Kong dollars (€7.0-$8.5m) for its first fiscal half-year ended on Sept. 30, compared with a loss of HK$32.3 million last year, helped by gains from its property investments that more than offset ...
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ArticleFrasers Group in last-ditch bid to grab Debenhams
Mike Ashley’s Frasers Group has returned to the fight with a last-ditch offer for Debenhams in a bid to save the largest and oldest British department store chain from liquidation. The group, which owns the Sports Direct chain of sporting goods stores as well as another U.K. department store chain, ...
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Fashion industry sales may return to pre-Covid levels late 2022
The global fashion industry is expected to suffer a 15-30 percent decline in sales this year and is not expected to return to 2019 levels until at least the third quarter of 2022, according “The State of Fashion 2021”, a new report by Business of Fashion and McKinsey & Co. ...
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ArticleGore and Bionic Yarn jointly develop textiles made from ocean-bound plastics
W. L. Gore & Associates and Bionic Yarn, a material engineering company from New York, have announced a collaboration to drive the development of a high-performance textile made from traceable, recycled plastic. Gore said it recently made an equity investment in Bionic to help streamline its fiber supply chain and ...
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ArticleBata appoints Sandeep Kataria CEO
Bata, the Lausanne-based shoemaker, has appointed Sandeep Kataria as global chief executive, replacing Alexis Nasard, who led the company for nearly five years. Nasard stepped down to pursue a professional opportunity outside the company and the change is effective immediately. Kataria joined Bata in 2017 as the company’s chief executive ...
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ArticleLloyd Shoe Company goes into administration after Arcadia’s collapse
On Dec. 3, London-based footwear company Lloyd Shoe Company appointed FRP Advisory as its administrator after the collapse of the British fashion retailer Arcadia. The company has concessions in several stores managed by the Arcadia group, which appointed the firm Deloitte as its administrator on Nov. 30. Lloyd is working ...
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ArticleFrance postpones start of winter clearance period to Jan. 20
The French government has postponed to Jan. 20 the start of the winter clearance period from its initial date of Jan. 6. The clearance period will last four weeks. In radio interview with RMC/BFM TV, the Economy Minister, Bruno Le Maire, added that the measure is aimed at helping small ...
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ArticlePrimark faces £430m sales loss in the autumn due to Covid resurgence
The Irish clothing retailer Primark is expected to suffer a loss of sales of some £430 million (€476.1m-$579.1m) this autumn due to the second round of local Covid-19 lockdowns, according to its parent company, Associated British Foods (ABF). The operating costs of the stores which were closed were reduced by ...
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ArticleGenesco returns to profits in Q3
Genesco delivered sales for the third quarter that exceeded expectations and returned to profits after posting losses in the second quarter. Schuh performed well, partly due to the accelerated shift to online spending, while Johnston & Murphy’s business struggled. Sales for the third fiscal quarter ended on Dec. 4 decreased ...
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ArticleExpo Riva Schuh to hold a digital edition Jan. 16-19
Expo Riva Schuh, the leading international shoe fair for the low and medium segments of the footwear market, will hold a digital version of its winter edition from Jan. 16 to 19. The event will be held jointly with the handbag trade fair Gardabags. Dubbed as The Home Edition, the ...
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ArticleMaterial Exchange raises €5 million to accelerate growth
Material Exchange, the Swedish online platform for the procurement of materials, raised €5 million in a funding round as it seeks to accelerate its growth plans after the “business exploded” during the Covid-19 pandemic. “The Covid-19 pandemic has accelerated the digitalization of the industry by at least five years,” said ...
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ArticleCoronavirus plunges Leder & Schuh into the red
The coronavirus pandemic has taken a heavy toll on Leder & Schuh Group. The Austrian shoe retailer, with its Humanic and Shoe4You brands, expects losses for the full year. Results will be “clearly negative,” according to a recently filed financial statement. Earlier this year, the company described the pandemic ...
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ArticleANWR, GKK promote a German buy-local campaign
While physical stores are still open in Germany, with some restrictions imposed by the Covid-19 pandemic, statistics show that customer traffic has declined dramatically in city centers, threatening the survival of many retailers. As in the U.K. and other countries, many customers are preferring to order products online for the ...
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ArticleDebenhams collapses as JD Sports terminates rescue talks
The British department store chain Debenhams is winding down operations and closing all 124 shops with 12,000 potential job losses after JD Sports Fashion ended talks about a rescue deal. Administrators have been trying to sell the troubled 232-year-old group since April, but have admitted that the sale process has ...
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ArticleFormer Zappos head Tony Hsieh dies
Tony Hsieh, who ran the footwear and clothing online retailer Zappos.com for about two decades, died at the age of 46 due to complications from injuries sustained in a house fire. The fire broke out on Nov. 18 in New London, Connecticut, and Hsieh died on Nov. 27 from the ...
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ArticleILM parent presents new trade fair concept to include footwear industry
While the coronavirus pandemic has brought the trade fair industry to a standstill, with several hundreds of events in Europe hit by restrictions, postponements and cancellations, the organizers of the international leather goods fair ILM, held in Offenbach am Main, near Frankfurt, is making plans for a post-pandemic future. ...
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ArticleMicam to be held on March 21-23
Micam will run from March 21 to 23, a day less than the September edition. The Milan-based footwear trade show will be held in conjunction with four other fairs representing the Italian fashion industry, in a repeat of an initiative carried out for the previous edition. Micam, Mipel, a fair ...
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ArticleLegero obtains top certification for environmentally-friendly new headquarters
Legero United, the Austrian-based footwear group that markets brands such as Legero, Superfit, Vios and Think, was awarded the highest certification by the Austrian Society for Sustainable Real Estate Management (ÖGNI). The company’s new headquarters in Feldkirchen, named the Legero United Campus, have a low CO2 footprint - around 28 ...
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British delivery service fears uncontrollable Black Friday
London-based delivery service ParcelHero said that it’s forecasting an £8.49bn (€9.5bn-$11.5bn) monster Black Friday to Cyber Monday weekend. It warns that stores must learn from the disaster of Black Friday 2014 or delivery chains could snap once again this year. In 2019, Britons spent a £5.55bn (€6.2bn-$7.4bn) on Black Friday-Cyber ...
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ArticleA quarter of European firms need support or face a cash shortage in 2021
About a quarter of companies in the Eurozone will need more government support in 2021 to avert a cash-flow crisis, according to the French credit insurance company Euler Hermes. “The first wave of Covid-19 lockdowns caused a stronger-than-expected profitability shock for most European non-financial corporate” during the first half of ...
