All Article articles – Page 132
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Shoe Carnival tops profit expectations
Shoe Carnival's shares jumped by 10 percent after the U.S. shoe retailer reported earnings for its fiscal fourth quarter that exceeded analysts' expectations. The company's net income reached $1.4 million, compared with losses of $3.9 million for the year-ago period.Revenues went down by 3.5 percent to $234.7 million for the ...
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Obuv Rossii considers Central-Asian expansion
The big Russian footwear manufacturer and retailer participated for the first time in a fair in Almaty, the capital of Kazakhstan, to find ways to enter the country. Obuv Rossii said it is evaluating prospects in the broader Central Asian shoe market.In Kazakhstan, Obuv Rossii exhibited both its casual and outdoor ...
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Manufacturing challenges impact Yue Yuen’s results
Yue Yuen Industrial said that its manufacturing business continues to face a number of uncertainties, including intense competition and the changing demands of its clients, such as the shortening of lead times and increased seasonality.Revenues from manufacturing activities declined by 1.5 percent to $5,390 million in 2018 for the world's ...
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DSW unveils new strategy, changes name
The American shoe retailer reported strong sales for its fourth fiscal quarter, but its shares tumbled by almost 25 percent as it posted a surprising loss and issued a weak outlook. The management unveiled a new strategy to support the company in the long term, and decided to change its ...
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Foreign-owned luxury companies outperform Italian locals
Italian luxury goods firms controlled by large foreign groups, such as Kering and LVMH, have been performing significantly better than their peers regardless of the type of shareholder structure. The worst performing category were companies controlled by private equity firms, according to a survey carried out by PricewaterhouseCoopers.According to PwC, ...
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Lower foreign sales by German shoe companies
The growth of the German footwear industry weakened considerably in 2018, weighed down by lower sales abroad, according to an annual report by the Federal Association of the German Footwear and Leathergoods Industry (HDS/L), presented at last month's Gallery Shoes fair in Düsseldorf.In 2018, the total sales of German shoe ...
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DIS completes funding round, diversifies its range
DIS, an Italian startup that offers high-end customized shoes, raised €330,000 in a capital increase achieved through a crowdfunding campaign launched last September (see Shoe Intelligence Vol.20 n°19+20 of Oct. 20, 2018) and direct investments by two business incubators, B Heroes and The Hive.The new shareholders control 7.35 percent of ...
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Ferragamo may be turning the corner
Salvatore Ferragamo reported a 25.5 percent drop in its 2018 net profit excluding minority interests to €88.4 million and also cut its annual dividend to €0.34 per share from €0.38 a year earlier. As already reported (Shoe Intelligence Vol. 21 N° 3+4 of Feb. 9), the company's revenues for the ...
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Skechers’ shares drop despite record revenues
After passing the $1 billion revenue threshold in the fourth quarter of 2018, Skechers USA ended up again with record sales in the first quarter. They reached $1,280 million, an increase of 2.1 percent over the year-ago quarter. In constant currencies, revenues increased by 5.6 percent. This was fueled by ...
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Prada and Tod’s disappoint, Ferragamo reassures the market
Prada and Tod's both released disappointing results for the past financial year, adding worryingly poor outlooks for 2019, while Salvatore Ferragamo reassured observers that its turnaround is bearing fruits thanks to a positive start to 2019.The Prada Group suffered a decrease in its gross profit margin to 72.0 percent in ...
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Pittards seeks to diversify
Pittards, a major U.K.-based supplier of leather to the sporting goods industry, had a mixed year in 2018, with revenues falling by 5.9 percent from 2017 to 28.5 million pounds sterling (€33.1m-$37.2m). The management said it faced a difficult environment, including a globally subdued economic climate, with overall weaker demand ...
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SafeSize draws new funding
SafeSize, the Dutch foot- and shoe-scanning company, recently raised €10 million in a Series B round of funding. The investors are 3TS Capital Partners of Finland, which focuses on small and medium-size enterprises (SMEs) in tech and media; Convent Capital of the Netherlands, which focuses on medium-size businesses in the ...
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Good growth for DSW
In the three months ended on Feb. 2, 2019, DSW's total revenues jumped by 15.9 percent from the year-ago period to $838.6 million. Comparable store sales climbed by 5.4 percent. The management attributed these results to the relaunch of the DSW loyalty program, its product assortment and its strategy to ...
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Ecco posts record sales and earnings
Ecco has said it achieved record sales and profits in 2018, despite a challenging retail environment and currency headwinds.Revenues improved by 2.6 percent to €1,310 million, while pre-tax earnings increased by 9.2 percent from the previous year to €200.7 million, indicating a comfortable margin. Currency fluctuations had a negative impact: ...
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Kienast emerges as strategic investor for Schuhpark Fascies
The family-owned Kienast Group has won a bidding race for a strategic investment in the insolvent Schuhpark Fascies chain of shoe shops in Germany. The creditors of Schuhpark Fascies will vote on the investment from Kienast and the broader insolvency plan in May, a company statement said, adding that a ...
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Obuv Rossii gets money to fuel expansion
Russia's major shoe retailer, which is also a major shoe manufacturer, signed an agreement with one of the Russian biggest banks, Promsvayzbank, for 3 billion rubles (€40m-$45.5 m) to support the Obuv Rossii's long-term development strategy. The bank said the loan had been granted to support the government's plans to ...
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LVMH grows strongly, invests in tourism
LVMH's share price grew by 3.3 percent after the group announced a sales increase of 11 percent on an organic basis for the first quarter. Revenues from Fashion & Leathergoods rose by 15 percent, topping analysts' estimates of an increase of 11 to 12 percent.The sales increases, which marked an ...
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Rohde’s situation stabilizes under new ownership
Rohde, the German shoemaker that came out of insolvency in 2017 after being bought by Italy's Inblu, posted net sales of €16 million last year. Its management claims that it has returned to a normal business conditions with the autumn/winter 2018/2019 collection. Inblu is a unit of the Italian-based Condor ...
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Dr. Martens invests £2m in its English heritage
Dr. Martens is overhauling its original factory in the Northamptonshire town of Wollaston. The plan is to more than double its production capacity from the current level of 70,000 pairs to 165,000 pairs per year, and to open what the company is calling a new visitor and heritage center in ...
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Kering books an Ebit margin of 28.9%
We have already reported the excellent results achieved last year by LVMH and Hermès, which contrast with the rather disappointing results of two more footwear-specific luxury goods companies, Salvatore Ferragamo and Tod's (see also the news briefs in this issue). Kering did even better in 2018 with an increase of ...
