All Article articles – Page 163
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LVMH reports strong double-digit growth
Shares in LVMH jumped by 2.9 percent to a record high of €213.50 after the French luxury group beat sales forecasts for the first quarter of its new financial year.However, LVMH warned that its strong first-quarter performance may not be sustainable, saying it benefited from a favorable comparison base, particularly ...
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Payless ShoeSource will shut down hundreds of stores
Payless ShoeSource filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Missouri on April 4. The discount-oriented shoe retailer, based in Topeka, Kansas, has announced that it will be immediately shutting down nearly 400 stores in the U.S. and Puerto Rico. In addition, ...
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Lower sales and margins at Ecco
Ecco's revenues and net earnings decline in 2016 for the first time in five years. The company's turnover was down by 0.4 percent at €1,250.9 million, but the management claimed market share increases in many markets. On a currency-neutral basis, sales of footwear and accessories were up by 2.0 percent, ...
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Hermès posts a record profit margin
Hermès International reported a record operating profit margin of 32 percent of sales for 2016 as its consolidated revenues of €5.2 billion were up by 7.5 percent increase at current exchange rates and 7.4 percent at constant exchange rates,. Net profit increased by 13 percent to €1.1 billion.The French luxury ...
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Pittards posts lower revenues and a loss, but margins improve
Pittards posted revenues of £27 million (€31.5m-$33.6m) for the year to Dec. 31, 2016, down from £30.5 million (€35.6m-$38.0m) in the previous year. The British maker of gloving, footwear and fashion leather also registered a loss before tax of £4.1 million (€4.8m-$5.1m) for the full year, as compared to a pre-tax profit ...
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Tod’s sees higher sales and margins in 2017 after a tough year
Tod's is comfortable with current financial analysts' forecasts, which on average indicate that its sales will be rising by 3.6 percent to €1,040 million from €1,004 million last year. Analysts also expect gross operating profits, or Ebitda, growing to €193 million, lifting the Ebitda margin to 18.6 percent.In 2016, the ...
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Schuhe24 helps German retailers to win new customers
The company is launching a test this month that will help shoe retailers to win new customers through specially developed shopping apps and beacons in their stores. Smartphone users are led to take advantage of promotions when they pass by the stores. They get information about the products offered, and ...
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Zalando reaches an Ebit margin of 5.9%
Zalando has reported an increase in net income of 121.5 percent to €60.0 million for the past year. Operating earnings (Ebit) grew by 131 percent to €207 million. Excluding extraordinary items, they rose by 101 percent to €216.3 million, resulting in an adjusted Ebit margin of 5.9 percent for the ...
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Deichmann invests more abroad
Deichmann has budgeted investments of €232 million for this year to support its strong international momentum, including an expenditure of €92 million in the domestic German market. The leading European shoe retailing group plans to open a total of 262 new physical stores globally, while closing 114 units and modernizing ...
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Condor Trade acquires Rohde
The receivers of Eric Rohde have announced the sale of the famous German shoe company to the Italian-based Condor Trade Group, which owns the well-know Inblu brand of shoes among other operations. Condor Trade has agreed to buy only some assets, but not the debt of the company, which will ...
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ANWR offers new digital services after a tough year
ANWR Schuh, Germany's largest cooperative of independent shoe retailers, has reported a decline of 3.4 percent in its centralized settlements to €816 million in 2016 due to lower orders by the affiliated retailers. The latter saw their own turnover sink by 1.8 percent, roughly in line with the market situation, ...
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Brazil boosts Alpargatas' profits
Strong sales of sandals in Brazil helped Alpargatas grow profits by 106.4 percent to 102.6 million reals (€30.9m-$33.1m) for the fourth quarter of 2016. It achieved this high level of profitability in spite of a 4.1 percent drop in global revenues to R$1,065.9 million (€320.6m-$343.5m) during the quarter, weighed down ...
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Men’s & the weak pound boost revenues at Jimmy Choo
Jimmy Choo reported strong growth for the full year 2016, driven by China, the weak pound and its new men's lines. Revenues were up by 14.5 percent to 364 million pounds (€419.7m-$444.6m), or by 1.6 percent on a constant-currency basis.Shoes represented 75.0 percent of revenue, driven by the launch of ...
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Andreas Wortmann quits Ecco
Andreas Wortmann, one of the four members of Ecco's executive board, has handed in his resignation after 15 years in top management positions. Citing personal considerations, the 51-year-old executive is leaving the big Danish shoe company to join his wife in Hamburg to look at other options, but he told ...
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ANWR and Sabu launch electronic invoicing
ANWR and Sabu, the two biggest voluntary groups of independent shoe retailers in Germany, are going to offer their members a standardized electronic invoicing system for their centralized settlements from January 2018. The system, developed and operated by RAW Rechen-Anlage West, will reduce the use of paper, manual work and ...
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Vivarte has apparently been salvaged
A spokesman for the French footwear and apparel retailing group confirms a report in the French financial daily Les Echos that all the 172 lenders who are being owed a total of €846 million on their long-standing loans have agreed to convert them into shares. They have also agreed to ...
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Wolverine performs better than expected
Reaching the upper end of its projections, Wolverine Worldwide reported a decline of 2.9 percent to $729.6 million in its total turnover during its fourth financial quarter, ended Dec. 31, with a high single-digit increase outside the U.S. more than offset by a low single-digit decline in its domestic market, ...
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Big moves at Crocs
Andrew Rees, who became president of Crocs two years ago, will replace Gregg Ribatt as chief executive on June 1, consolidating the two functions. Ribatt, who will remain on the board of directors, said the company was ready for the change after the progress it had made in 2016 in ...
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Rocky Brands posts a loss but sales are up
Rocky Brands is showing signs of recovery after a difficult 2016, posting revenues that increased by 2.6 percent to $67 million in the fourth quarter. However, the American footwear and apparel company reported a loss of $634,000, after posting a net income of $1.4 million in the same period a ...
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Zalando buys a chain of sneaker stores
Zalando has announced the acquisition of Kickz, a German chain of streetwear and sneaker shops, for an undisclosed amount. The big European e-tailer said the acquisition is to further strengthen its position in the sports and lifestyle segment, especially in the basketball category. It will also allow Zalando to address ...
