All Article articles – Page 136
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The EU has launched its Circular Plastics Alliance
The European Commission has launched an alliance of key industry stakeholders across the full plastics value chain as part of its efforts to accelerate Europe's transition toward a circular economy. The Circular Plastics Alliance is meant to stimulate the reduction of plastics littering and increase the share of recycled plastics, ...
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Bohoo performs better than Asos
Bohoo reported strong growth across all brands and regions in the four months through December, leading the British online fashion retailer to raise its full-year revenue guidance.Revenues jumped by 44 percent from the year-ago period to £328.2 million (€370.7m-$421.3m). The gross margin improved by 1.7 percentage points to 54.2 percent.Sales at the ...
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Boot Barn
A smaller American shoe retailer that has posted better-than-expected results is Boot Barn. Both preliminary earnings and sales for its third quarter ended Dec. 29 came in well above projections.Revenues were up by 13 percent to about $254 million, with same-store sales increasing by approximately 9.2 percent, including double-digit growth ...
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Crocs is still outperforming, wants to do better
With its financial turnaround virtually completed, Crocs is considering new initiatives in terms of product development and retailing, including the further development of e-commerce, to help reach a double-digit operating margin going forward, while keep gross margins slightly above 50 percent of sales and operating expenses below 40 percent.The company ...
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Better-than-expected results for U.S. chains
Boosted by the ongoing strength of their U.S. footwear businesses, several big retailers in the country posted upbeat preliminary results, often surpassing expectations. Genesco posted a comparable sales increase of 4 percent for the quarter ended on Jan. 10, 2019. This came after the company posted a 4 percent same-store ...
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Shoe Zone and Boohoo immune to the U.K’s tough retail situation
Despite the difficult retail environment in the U.K., hampered by uncertainty surrounding Brexit, both of these retailers reported relatively positive results, in contrast with retailers like Footasylum (see the article in this issue) and Asos (see the article in our previous issue), which had to resort to heavy discounting because ...
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Brazilian shoemakers are optimistic
The recent election of a new president in Brazil, Jair Bolsonaro, is expected to improve the country's battered economy and to generate more competition by opening up the Brazilian market, says Heitor Klein, executive president of the Brazilian shoe industry association, Abicalçados.He says the cost of making shoes in Brazil ...
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Brexit or no Brexit, the industry wonders
The European shoe industry has been thrown into a period of increased confusion and uncertainty about future strategies by the overwhelming defeat by the British Parliament last week on the agreement that Prime Minister Theresa May had painfully negotiated with the European Commission on the terms of the U.K.'s divorce ...
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Driven by Vans, VF will not buy Skechers
Skechers' stock market capitalization went up by 6.3 percent last Thursday, following a Tweet message according to which VF Corporation, the parent of Timberland, Vans and other brands, was in advanced negotiations to buy the company at a high premium, giving it an enterprise value of about $6.5 billion.On the ...
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Café Noir relies more on its online and retail sales
The Italian brand of footwear and accessories posted relatively flat sales of around €30 million in 2018, but its management aims to lift them to an annual level of €45 million in five years' time through the expansion of its mono-brand network, e-commerce and exports.Café Noir is ramping up its ...
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Shoe Carnival
Another big publicly listed American shoe retailer, Shoe Carnival raised its sales and profit guidance for the fiscal year ending Feb. 2, 2019. It now expects sales to be approximately $1,028 million and comparable store sales to rise by approximately 4 percent.The company's previous guidance was calling for sales in ...
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Shoes are in the top category of online cross-border shopping
“Clothing/apparel, footwear and accessories” is the No. 1 cross-border category for online shopping. A global study titled PayPal Cross-Border Consumer Research 2018, conducted by Ipsos for Paypal, has revealed that 68 percent of online cross-border shoppers among those surveyed for the study purchased items in that category from e-commerce sites ...
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A new chairman with a modern vision will head up India’s CLE
Aqeel Ahmed Panaruma, chairman and managing director of Florence Shoe Company in the state of Tamil Nadu, became on Jan. 17 the new chairman of India's Council for Leather Exports, taking the place of Mukhtarul Amin. Sanjay Leeka will serve as vice chairman.The organization, which is sponsored by the Indian ...
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Clarks may stop manufacturing shoes in the U.K.
Clarks announced a few days ago that it plans to put an end to “Morelight,” a pilot program for robot-assisted shoe manufacturing close to its global head office at Street, in Somerset. The company said it has started a period of consultation with its 70-odd workers to verify the viability ...
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Mixed market conditions in Europe
Across all the sectors, British retailers suffered the worst month of December in a decade in terms of sales, but they are not the only ones to be concerned. Aside from the disruption of traditional business models caused by the expansion of online sales, there are alarming signs that the ...
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Footasylum issues a profit warning, due to high discounting
Footasylum says it faced greater than expected promotional and clearance activity in the 18 weeks to Dec. 29 due to difficult trading conditions, prompting the British sports lifestyle retailer to issue a profit warning. This is in line with warnings made by other U.K. retailers like Asos and Sports Direct indicating ...
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Expo Riva Schuh holds steady
The 91st edition of Expo Riva Schuh, held Jan. 12-15, attracted about 13,000 visitors, roughly in line with the numbers registered a year earlier. The tally includes the visitors to the two main fairgrounds of the international trade show: the Gardabags show near Lake Garda, which was in its second ...
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New owners, new plans for Mahabis
Mahabis, the London-based producer of slippers with detachable soles and foldable heels, has been acquired by YYX Capital, a private-equity/venture-capital firm that invests in consumer-internet, e-commerce and financial-technology (FinTech) companies. The deal was made with KRE Corporate Recovery, as Mahabis had fallen into administration – a rescue procedure for insolvent ...
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Italy made 5% fewer shoes in Q3
Italy's shoe production fell by 5.0 percent in volume in the third quarter of 2018, resulting in a 2.4 percent decline for the first nine months of the year, according to a survey released by the Italian shoe industry association, Assocalzaturifici.The association noted that domestic demand was not showing any ...
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Italy’s Spernanzoni seeks partners to expand abroad
Spernanzoni, a family-owned company that trades under the Spernanzoni and Il Gergo brands, is looking for a partner to expand its business internationally. The upmarket Italian shoemaker, located in the Marche region, was created in 1965 by the late Vittorio Spernanzoni and continues to be run by his three children.In ...
