All Article articles – Page 83
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ArticleFerragamo’s strong retail showing continues after profitable H1
Salvatore Ferragamo continued to enjoy strong revenue growth in directly-operated stores (DOS) in the U.S., China, South Korea and Latin America in August compared both with the year earlier and 2019, as it unveiled a better-than-expected Ebit target for the full year on the back of a sharp improvement in ...
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ArticleCaleres benefits from full-price selling and plans price increases from Q4
In the second quarter ended July 31, Caleres posted record quarterly earnings driven by more full-price selling and lower promotional activity as a result of tighter inventories due to disruptions and delays across the supply chain caused by the Covid-19 pandemic. The group’s inventories were about 28 percent below the ...
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ArticleGenesco sees lower Q3 margins on higher freight costs after strong Q2
Genesco forecast that its margins will be squeezed in the third quarter of its 2022 fiscal year amid persistent supply chain challenges and resulting higher freight costs that are seen lasting at least until the end of the year. The warning comes after the American retailer posted better-than-expected profits and ...
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ArticleBirkenstock invests €100m to expand Görlitz plant, build new factory
Birkenstock announced two investment projects worth a combined €100 million and aimed at increasing brand awareness and strengthening its position in the market as a premium manufacturer of German-made shoes. Birkenstock will invest €50 million in its factory in Görlitz, in the eastern Saxony region, and a similar ...
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ArticleSequential files for bankruptcy protection
After many loss-making quarters and the sale of four brands - Heelys, DVS Footwear, Caribbean Joe and Ellen Tracy - earlier this year, the heavily indebted Sequential Brands Group commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware on Aug. 31 to protect it ...
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ArticleU.K. regulator still opposes JD’s takeover of Footasylum
Leaving the door open for comments by Sept. 16 before making a final decision in October, the U.K. Competition and Markets Authority (CMA) restated on Sept. 2 its provisional ban on JD Sports Fashion’s already completed acquisition of the Footasylum, in spite of criticism expressed by the Competition Appeal Tribunal ...
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ArticlePrada requires health pass or Covid testing for Italian staff
Starting Sept. 6, Prada is asking its over 3,000 workers in Italy to submit proof of Covid-19 vaccination or recovery from the virus to access its facilities. As of that date, employees of the luxury group in Milan and the Tuscany region will be asked to show the digital Covid ...
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ArticleDesigner Brands gains market share in athleisure, kids’ footwear
In the second quarter ended July 31, Designer Brands posted a 66.9 percent year-on-year increase in net sales to $817.3 million, with comparable sales up by 84.9 percent as it continues to focus on athleisure and kids’ footwear. The U.S. retail business posted an 83.5 percent increase in sales to ...
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ArticleAllbirds files for IPO but remains loss-making
Allbirds, the B Corporation certified Californian brand of footwear and apparel, has filed an application with the U.S. Securities and Exchange Commission for an initial public offering. The document indicates the size of the transaction at $100 million, which is an estimation solely made to define the registration fee of ...
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ArticleShoe Carnival hikes full-year guidance after strong second quarter
The American footwear retailer Shoe Carnival increased its full-year guidance after posting strong second-quarter results. “Sales and profit results are far exceeding our expectations for fiscal 2021. And as such, we are significantly raising our annual guidance,” said Mark Worden during a conference call. Worden is chief customer officer but ...
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ArticleCCC buys a minority stake in delivery company
The Polish shoe and apparel company CCC is buying a minority stake in Xpress Delivery, a company providing logistics and IT solutions for the delivery of parcels. The companies started cooperation nine months ago by introducing the CCC Express service in Poland. The service is availabe in 37 Polish towns, ...
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ArticleSOLE launches climate accountability initiative and carbon-negative insoles
Canadian footwear company SOLE has launched CO2negative, an initiative in collaboration with ReCORK to promote and facilitate the accurate labeling of the climate impact of consumer products and the certification of CO2-negative products, and simultaneously announced its first CO2negative-certified insoles, the Performance footbed collection. Made from ReCORK recycled cork, the ...
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ArticleFormer Coach head to become Capri’s CEO
On Aug. 24, Capri Holdings, the luxury goods group that owns the brands Jimmy Choo, Versace and Michael Kors, appointed Joshua Schulman as CEO of Michael Kors. In September 2022, he is due to succeed John Idol as CEO of Capri, when Idol will become executive chairman. Idol is currently ...
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ArticleHotter Shoes outperforms U.K. retail sector
The British comfort footwear brand Hotter Shoes reported a strong increase in sales during the month of July, despite the overall weak performance of U.K. retail since stores reopened in April after a Covid-19-related lockdown. The company said July sales increased 24 percent against June. Total sales were up 82 ...
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ArticleStella continues building up its foreign manufacturing base
The Hong-Kong-based footwear manufacturer and retailer Stella International expects its new factory in Solo, Indonesia, to come on stream in the third quarter of 2021 as the company continues to increase production outside the Chinese mainland. The plant is expected to contribute to overall sales in 2022. Solo will be ...
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ArticleStuart Weitzman plans to be profitable this fiscal year
Tapestry, the American group which owns Stuart Weitzman, expects the footwear company to become profitable again in the fiscal year that just started after undergoing a significant restructuring. In the fiscal fourth quarter ended on July 31, Stuart Weitzman managed to significantly cut its operating losses thanks to higher revenues ...
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ArticleHotter’s parent to diversify into apparel and wellness brands
Electra Private Equity, the parent company of the British brand of comfort footwear Hotter Shoes, will undergo a radical transformation that will result in it expanding its offering beyond footwear to include apparel and wellness brands as well as complementary third-party labels. The company will be targeting consumers aged over ...
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ArticleC-Suite interview: Covid-19 spawns the Italian leather sneaker start-up Accricco
Accricco Shoes is the story of three friends – Alessandro Canullo, 27 years old, Leonardo Lucarelli (27) and Matteo Romagnoli (29) – all from the same town of Monte San Giusto in the Italian region Marche, home to one of the country’s most renowned footwear cluster. When the first Covid-19-related ...
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ArticleHunter launches Hunter Protect
The British brand Hunter Boots has launched Hunter Protect, its program to protect the environment based on seven pledges. By 2025, all the company’s rubber footwear will be Forest Stewardship Council (FSC) certified. It pledges to work with World Land Trust “to protect endangered forests, the species that depend ...
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ArticleEcco’s CEO steps down
Ecco’s chief executive Steen Borgholm stepped down “by mutual consent” with the firm on Aug. 20 after four years in the job and over two decades with the Danish footwear company. He is being replaced by Panos Mytaros, who has been with the company for 27 years. ”Borgholm has been ...
