All Article articles – Page 150
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Ferragamo posts lower sales and profits
As previously reported, Salvatore Ferragamo posted a 3.1 percent decline in revenues to €1,394 million in 2017. At constant currency rates, they declined by 1.4 percent (see Shoe Intelligence Vol 20 n°3+4).Net income after minority interests was down by 42.4 percent to €114.3 million, some €10 million less than what ...
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Ferragamo sees new trends in luxury
The global personal luxury market is estimated to have grown by 6 percent at constant currency rates in 2017 and is expected to register a similar performance in 2018, with the interception of millennials' demand being key for success, according to a market scenario released by Salvatore Ferragamo.The survey indicated that ...
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Schuh weigh on Genesco's results
Genesco, the U.S.-based owner of Journeys and other retail banners including Schuh in the U.K., recorded strong results in its fiscal fourth quarter for its American Journeys and Johnston & Murphy chains. However, this was offset by difficult comparable sales in the Lids chain, increased promotional activity in the U.K., ...
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A good Micam
The organizers of the Micam trade show announced a total of 44,227 visitors in terms of daily entrances at the world's leading event of this kind for the footwear sector at its 85th edition last month, which compares with 44,610 a year ago.Russia regained the first spot in foreign attendance ...
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Wolverine wants to grow more internationally
Wolverine Worldwide announced new initiatives to accelerate product development, boost e-commerce and drive expansion abroad, while releasing mixed results for 2017, with lower revenues but higher margins. The group's management also indicated that it may be willing to consider new acquisitions after its recent disposal of several brands including the ...
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Tod’s predicts a slight sales increase
Tod's, which as previously reported is also going under new management (see the News Brief in this issue), expects to post a slight increase in revenues this year but remains cautious about operating profits. Anyhow, the bottom line is due to benefit from a lighter tax burden.In a conference call ...
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Steve Madden will launch new lines
Steve Madden posted another set of strong results for the three months and the full financial year ended Dec. 31, following several quarters of sustained growth. On the back of this performance, the group announced that it is going to add new brands to its portfolio in 2018.Among its major ...
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Other U.S. retailers are not doing well
The Walking Company, a big American retailer specializing in comfort shoes from Europe and elsewhere with about 200 stores throughout the U.S., has filed once again for bankruptcy protection, citing liabilities of between $50 million and $100 million. Li & Fung is said to be among its biggest creditors, along ...
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Vulcabras takes off
Vulcabras, the Brazilian company that owns the Olympikus brand of sports shoes, and two brands of women's shoes, Azaleia and Dijean, has definitely turned the corner. It has reported a net profit of 188.9 million reais (€47.0m-$58.3m) for 2017, up sharply from R$35.7 million in the year-ago period, on 11.4 percent ...
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Italian shoe production rises by 1.0% in volume
Italy's shoe production inched up by 1.0 percent in volume to 189.5 million pairs and by 1.0 percent in value to €7,748 million in 2017 thanks to higher exports, which absorb about 85 percent of the country's output, according to an estimate released by the Italian shoe industry association Assocalzaturifici, ...
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ANWR grows by 2.4%, pushes a digital transformation
The move into digital operations is inevitable for retailers, said Günther Althaus, chief executive of the ANWR Group, in a speech made at a recent symposium during the Ispo sporting goods show in Munich. He warned that the competition from online retailers and other factors may lead to a drop ...
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Tod’s sees a turnaround in H2
After posting preliminary figures for 2017 in line with its expectations, Tod's indicated that 2018 will be a year of transition, with investments made in the manufacturing base, the product range and its digital platform coming to fruition in the second half of the year.For the fourth quarter of last ...
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China’s luxury goods market jumps by 20%
According to a recent report by Bain & Co., the Chinese luxury goods market increased by 20 percent to 142 billion Chinese Yuan Renminbi (€18.2bn-$22.2bn) in 2017, after slowing down in recent years, and is expected to grow further in 2018. The 2017 growth rate was the highest since 2011. ...
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Skechers passes the $4 billion mark
Skechers USA again posted record revenues for the full financial year ended last Dec. 31, surpassing the threshold of $4 billion, due in part to strong double-digit growth in its business outside the U.S.The management attributed the performance to its continued focus on efficiencies and infrastructure, as well as innovation. ...
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The global luxury goods market is accelerating
According to a recent report by Ernst & Young on “The luxury and cosmetics financial factbook 2017,” the global luxury market is expected to reach sales of more than €490 billion by 2020. The increase will be driven by emerging markets and the development of online channels, analysts say. The ...
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Obuv Rossii has big ambitions
The Russian footwear retail chain, which recently went public on the Moscow stock exchange, outlined new targets for its long-term development, against the background of continued good sales performance in 2017.Obuv Rossii is aiming to open 3,500 new stores in Russia, expanding its retail chain nearly eightfold as compared to ...
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Geox’ annual sales drop slightly
Geox' top line fell by 1.8 percent to €884.5 million in 2017, missing market expectations by nearly €10 million. At constant currency rates, sales slipped by 1.7 percent, largely due to store closures, especially in Europe.Footwear revenues totaled €796.7 million for the year, down by 2.3 percent at actual currency ...
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Geox unexpectedly appoints new CEO
Geox's chief executive, Gregorio Borgo, unexpectedly resigned on Jan. 18 after just one year at the helm to “pursue a new professional journey.” He stopped as CEO immediately on Jan. 18 and left the company on Jan. 31. Borgo started as CEO on Jan. 12, 2017. Like his two predecessors ...
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Gabor may be turning around
Gabor Shoes felt the sting of falling sales in 2017, although the company rebounded lightly in the second half of the year. Including licenses, the group sold a total of 9.1 million pairs of shoes and generated total revenues of €383 million - a drop of 3.3 percent from the ...
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Recovery in Asian demand boosts LVMH's results
The world's largest luxury goods group recorded sales that topped analysts' expectations in 2017, as it benefited from a steady recovery in Asian demand, supported by growth in Europe and the U.S. Full-year revenues jumped by 13 percent from the previous year to €42,636 million, including organic growth of 12 ...
