All Article articles – Page 79
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ArticleAlpargatas sells Osklen to focus on Havaianas
Completing its reorganization, Alpargatas is divesting its 60 percent stake in Osklen, a Brazilian brand of sustainable surf- and skate-inspired clothing and footwear, to focus on Havaianas, the big international brand of rubber sandals. Alpargatas had already transferred its regional Mizuno license to Vulcabras, parent company of Olympikus, in the ...
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ArticleMizuno license helps lift Vulcabras’ sales
A relaxation of anti-Covid measures in Brazil and the addition of Mizuno’s license for the country, which was effectively transferred from Alpargatas to Vulcabras on June 30, helped to boost the latter’s revenues by 40.0 percent to a record 535.9 million Brazilian reais (€86.5m-$99.1m) in the third quarter as compared ...
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ArticleTod’s returns to pre-pandemic levels in Q3
Tod’s’ revenues beat market expectations and were slightly above pre-pandemic levels in the third quarter of 2021. The Italian luxury footwear company reported sales of €224.3 million in the period, up by 14.6 percent year-over-year and by 0.5 percent compared to the same period of 2019, and above the €208 ...
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ArticleFerragamo fails to provide full-year guidance despite better-than-expected Q3 sales
Salvatore Ferragamo posted better-than-expected third-quarter sales but declined to provide full-year estimates, citing a “volatile” market scenario. The lack of visibility prompted investors to sell the stock. Ferragamo’s shares closed at €19.13 in the Nov. 10 session, down by 4.23 percent on the previous day. The stock market retreat came ...
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ArticleAsos sets new long-term profit goal in bid to reassure investors
Asos has forecast an Ebit profit margin of at least 8 percent over the long-term as it aims to boost investor confidence in the wake of the abrupt exit last month of its chief executive Nick Beighton. The British online fashion retailer wants to increase its international presence, improve partner ...
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ArticleHotter sales surge as shift to digital pays off
Hotter Shoes reported a surge in first-half sales after it overhauled its channel strategy to focus on digital sales. In the first half of fiscal 2022, which ended in July, U.K. sales surged by 39 percent year-over-year to £25 million (€29.2m-$33.8m). The British footwear company posted earnings before interest, tax, ...
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ArticleClarks CEO steps down after 10 months in role as strike drags on
The embattled British shoemaker Clarks said that its chief executive, Victor Herrero, has stepped down after only months in the job to take on “broader” responsibilities at its private equity parent firm. The announcement comes amid an ongoing strike by workers at the company’s Westway warehouse in Somerset over controversial ...
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ArticleSteve Madden sees European sales above $60m this year
Steve Madden continues to enjoy strong growth in Europe, where sales are expected to be above $60 million this year, representing growth of more than 85 percent compared with 2019. When including the Middle East and Africa, the EMEA region could post sales close to $100 million. In April, the ...
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ArticleFashion Bank offers a credit insurance policy to shoemakers
Fashion Bank, an Italian provider of data and credit ratings for the fashion industry, has entered an exclusive partnership with the Italian export credit agency Sace to offer a credit insurance policy for the fashion industry called Fashion Hub. The insurance policy was presented for the first time at a ...
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ArticleRocky Brands Q3 hit by warehouse congestion after brands acquisition
In the third quarter, Rocky Brands suffered congestion issues at its Ohio warehouse as well as a surge in operating and interest costs due to the integration of Honeywell International’s performance and lifestyle footwear business. In the period ended Sept. 30, the U.S. footwear company reported “temporary fulfillment challenges” and ...
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ArticleZalando’s Q3 profits slump in price-cutting war
Zalando reported a slump in third-quarter profits after cutting prices in response to promotions made at physical stores after Covid lockdowns were completely lifted in Germany and other key markets. While sales rose by 23 percent to €2.3 billion as compared to a year ago, adjusted operating earnings (Ebit) for ...
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ArticleWeyco sees an improvement in supply deliveries in Q4
The U.S. group Weyco enjoyed a rebound in sales and earnings in the third quarter of 2021, but bottlenecks in the supply chain caused delays in the delivery of merchandise from suppliers and hurt the sales of its outdoor brand Bogs. In October, however, the company began to see an ...
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ArticleJimmy Choo improves its full-year guidance
In the second quarter ended Sept. 25, Jimmy Choo posted revenues of $137 million, up by 12 percent from the prior year. The top line grew by 5 percent on a constant currency basis. The brand posted an operating income of $1 million, and the operating margin improved slightly to ...
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ArticleAllbirds rises sharply in stock market debut
Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was about 60 percent above the ...
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ArticleShoe Zone lifts profit forecasts again
The British retailer Shoe Zone has lifted its profit guidance after recent sales were better than expected. The company now anticipates annual profits to surpass pre-pandemic levels, less than two weeks after providing a trading update in which it warned that supply-chain constraints and inflation still presented challenges in the ...
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ArticleNice Footwear valued up to €16.5m in IPO
Nice Footwear, an Italian company specializing in sneakers, presented a request to be listed on the Euronex Growth market in Milan. The company set a price range of €9.00-€11.00 per share, valuing the company between €13.5 million and €16.5 million. The valuation does not include the possible proceeds of the ...
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ArticleAlpargatas to invest €92 million to finance Havaianas expansion
Alpargatas will invest 600 million Brazilian reais (€92.0m-$106.4m) in 2022 to meet growing demand for its Havaianas brand. The investment will be destined to the expansion of manufacturing capacity and of the logistics network, especially in Brazil, as well as to product development. The Havaianas is the company’s key brand ...
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ArticleGrendene’s Q3 sales rise thanks to higher prices
The Brazilian shoemaker Grendene posted third-quarter gross revenues of 818.3 million reais (€125.5m-$145.2m), up by 5.9 percent from a year earlier despite a decline in sales volumes, which was offset by higher prices per pair. It was the company’s highest ever third-quarter revenues. Unit sales fell by 17.1 percent to ...
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ArticleMost U.S. footwear companies plan to increase the use of sustainable materials
Sustainability continues to be a hot topic for U.S. footwear companies with 69 percent planning to use more bio-materials or recycled content in their upcoming collections while 49 percent of them are already asking material suppliers for certifications or life cycle assessments to verify claims, according to the 2021 Shoe ...
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ArticlePons Quintana expects stable sales in 2021
The Menorcan footwear company Pons Quintana expects 2021 sales to be stable compared with last year when the top line dropped by 17 percent due to the impact of the Covid-19 pandemic. The company exports about 80 percent of its footwear, its main foreign markets being Italy, Germany, France, the ...
