All Article articles – Page 160
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India bans cattle sales
The Indian government decided on May 30 to impose a countrywide ban on the sale of beef cattle for slaughtering purposes across state and national borders, creating a storm in the country's leather and footwear industry, which generates annual revenues of $13 billion. It is also imposing a $200 fine ...
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Boot Barn’s results miss guidance
Boot Barn posted weaker-than-expected profits for its fourth fiscal quarter ended April 1, 2017, mainly due to soft retail sales and unexpectedly high operating expenses. Net income jumped by 160.0 percent over the year-ago quarter to $2.6 million. However, excluding extraordinary items, the adjusted net income improved by 32.0 percent ...
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Dielmann launches an online store for its private brand
Dielmann, the German shoe retailer based in Darmstadt, has launched an online store for its Sommerkind brand of shoes for women and girls. Next to a collection of Sommerkind branded shoes, the online offer includes bags, hats and shirts. Some shoe models are only available online. Dielmann plans to add ...
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Spartoo buys GBB
GBB, the French company that produces children's shoes under its eponymous brand name and those of Achile, Catimini and IKKS, is being taken over by Spartoo, one of the two major French online shoe retailers, which is operating in 25 European countries. Spartoo, which gets 14 million unique visitors every ...
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Candice Cooper restructures
Candice Cooper, the company known for all-leather luxury sneakers, has a new owner. As of June 1, the company has been registered as Candice Cooper AG, a limited corporation that holds all rights to the brand and patents. The restructure was made to attract new capital for expansion, particularly into ...
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Caprice invests in state-of-the-art facilities
Caprice, the German shoe brand, has invested a seven-figure sum in modernizing the company's headquarters at Pirmasens, near the border with France, as well as production locations in Myanmar and Pakistan. The comfort shoe brand, which focuses on blending fashion and wellness using advanced design technology, is seeking to strengthen ...
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Shoe Carnival reports lower sales and profits
Shoe Carnival faced a difficult start to its fiscal year, with profits and sales dipping in the quarter ended April 29, 2017. This was no surprise, since the company warned on May 2 that delays in the mailing out of tax refund checks was largely responsible for a 3.9 percent ...
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Former Porsche CEO puts more money into Shoepassion
Wendelin Wiedeking, the former chief executive of Porsche, has reportedly invested “several million euros” in Shoepassion. The investment will enable the young startup, based in Berlin, Germany, to strengthen its position and to grow internationally as a premium omni-channel retailer.Wiedeking became financially involved with Shoepassion when it merged with a ...
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Payless will close more stores
Payless ShoeSource is looking to double the number of store closures that it had originally considered. The company filed for bankruptcy in early April and is asking the federal bankruptcy court in St. Louis, Missouri to be allowed to take steps to further rationalize its store network in the U.S. ...
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DSW posts higher sales but profits tumble
DSW's shares dropped by 7.0 percent after it posted mixed results for its first fiscal quarter ended April 30, 2017. The American shoe retail chain's net income tumbled by 23.0 percent over the year-ago quarter to $23 million, with the company attributing this to planned clearance activity, restructuring costs, currency ...
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Genesco’s earnings top guidance
The share price of Genesco, the U.S.-based owner of Journeys, Schuh, Lids and other retail banners, tumbled by 22.8 percent after the company revised down its guidance for 2017 following weaker-than-expected results for its first quarter ended April 29, 2017. Net income dropped by 90.6 percent from the year-ago quarter ...
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SLEM will go on without van Enten
On June 7, the local newspaper in Waalwijk, Netherlands officially announced the departure of Nicoline van Enter, founder and head of SLEM (Schoenen Leder Educatie Museum), and its commercial director Thijs Torreman. Countering a report in the newspaper that they had been dismissed by municipal authorities, van Enter said that ...
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Spanish shoe exports stabilize
After the unusual decline in value that they suffered in 2016, Spain's footwear exports dropped by only 1.02 percent to €834 million. Like last year, they carried lower average prices than before, as the total volume went up by 3.4 percent to 48 million pairs during the period.Average export prices ...
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Kinnevik sells final stake in Rocket Internet
Kinnevik has sold its remaining stake in Rocket Internet, a German e-commerce company, for €244 million. The Swedish investment company was one of the first investors in Rocket after the founders, the Samwer brothers, Marc, Oliver and Alexander.Founded in 2007, Rocket Internet is one of Europe's most valuable tech groups. ...
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Leiser opens insolvency proceedings
The Leiser Group, with its 40 Leiser and Schuhhof stores, filed for insolvency proceedings under its own management at the local court of Augsburg in March, as previously reported. The proceedings were formally approved and opened on May 26. Three trustees from the Schneider Geiwitz law firm - Arndt Geiwitz, ...
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Shoe Zone suffers from the weak pound
Shoe Zone, the U.K.'s biggest discount shoe retailer, saw revenues and profits drop in the six months ended 1 April due to the devaluation of sterling and continued store closures. As a result, it offered a cautious outlook for the remainder of the year.Sales declined by 2.3 percent over the ...
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Q1 sales slump at Tod’s due to wholesale
Tod's posted a disappointing 4.4 percent drop in first-quarter revenues to €238.5 million, largely due to a sharp decline in the wholesale division as the company decided to shun clients that might default on payments. At constant currency rates, the top line dropped by 5.0 percent The company warned that, ...
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Geox’ Q1 sales are lifted by wholesale
Geox posted a small 1.2 percent increase in first-quarter sales to €297.9 million, driven by higher wholesale revenues. At constant currency rates, the top line grew by 0.1 percent. The company confirmed its forecast of improved sales and profitability in the full year.Overall footwear sales increased by 0.8 percent to ...
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Netshoes grows by 18.1%
The leading e-commerce player in Latin America, which went public on the New York Stock Exchange on April 12, announced an 18.1 percent increase in sales on a currency-neutral basis for the first quarter of 2017, with growth of 17.2 percent in the domestic Brazilian market and 23.8 percent in ...
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Alpargatas’ sales decline by 19%
Shares in the Brazilian footwear company fell by 7.0 percent after it announced that its sales in Brazil had fallen by 16.8 percent to 466.1 million reais (€135.7m-$149.8m) in the first quarter. Alpargatas' global revenues, which stem mainly from its Havaianas brand of sandals and a license with Mizuno, were ...
