Coronavirus Ticker

  • Geox breathes
    Article

    Geox suffers accelerated sales decline amid new lockdowns

    2020-11-13T17:54:00Z

    Geox has suffered a 30.0 percent decline in like-for-like sales in the fourth quarter to date - bringing the like-for-like sales decline in the year so far to 32.0 percent - amid new temporary store closures due to a second wave of the Covid-19 pandemic in its main markets. ...

  • Article

    Primark faces £375 mn loss of sales due to Covid restrictions

    2020-11-03T10:44:00Z

    The Irish fast fashion retailer Primark , which is owned by Associated British Foods (ABF), could lose £375 million pounds (€415.9m-$484.0m) in sales due to the closure of stores following restrictions imposed by local authorities throughout Europe to combat the Covid-19 pandemic. The estimate includes a planned lockdown in ...

  • Ralf Ringer shoes
    News briefs

    Ralf Ringer suffers staff shortage due to pandemic

    2020-10-30T16:56:00Z

    The Russian footwear group Ralf Ringer is seeking 200 employees to replace labor migrants, who had to leave Russia because jobless during the Covid-19-related lockdown. The company manufactures 2 million pairs per year at four factories in Vladimir, Zarajsk, Moscow, and Taldom. Ralf Ringer also runs a retail ...

  • Mario Bruni
    Article

    Owner of the Mario Bruni brand fills for creditor protection

    2020-10-25T17:34:00Z

    Spring , the Italian shoe maker that owns Mario Bruni , a brand of quality dress and formal men’s shoes, has filed for bankruptcy protection in order to reach an agreement with creditors or restructure its activity. Based in the Marche region’s footwear cluster, Spring was created in 1956 ...

  • historic-center-russia-red-square-moscow-92412
    Article

    Footwear stores hit hard in Moscow, St. Petersburg

    2020-10-19T17:28:00Z

    In September, independent footwear stores in Russia experienced, on average, a 17 percent slump in sales, compared with the same period of the previous year, on the back of a second wave of Covid-19 in the country, Moscow-based think tank Evotor estimated. It is believed that chains are performing ...

  • Article

    EU agrees on common rules for travel restrictions due to Covid-19

    2020-10-13T09:36:00Z

    The European Council has adopted a recommendation on a coordinated approach to travel restrictions in response to the Covid-19 pandemic. The council comprises the heads of state or government of the countries forming the European Union, as well as the president of the council and of the European ...

  • CCC Germany logo
    Article

    CCC Germany files for insolvency under self-administration after pandemic hits sales

    2020-10-07T16:17:00Z

    The coronavirus pandemic throws yet another footwear chain into disarray, after extended lockdowns last spring and a sluggish summer sent sales plummeting. German footwear retailer CCC Germany GmbH filed for self-administration proceedings under the German insolvency legislation at the Osnabrück District Court. The company, a subsidiary of ...

  • Retail
    Article

    Covid-19 is forcing fashion and retail to rethink their business models

    2020-10-04T16:14:00Z

    The Covid-19 pandemic has accelerated changes in consumer attitudes towards fashion and retail, and calls are getting louder for “something to be done,” namely fewer collections, less fast fashion and more attention to sustainability.

  • News briefs

    ILM canceled due to Covid-19 situation in Offenbach

    2020-09-07T06:34:00Z

    ILM , the German international leather goods fair, was canceled in Offenbach, where the event was to be held from Sept. 5 to 7. The city of Offenbach withdrew the authorization to hold the show and the evolution of the Covid-19 pandemic in the town “was decisive” in ...

  • Alibaba
    Article

    ​Alibaba’s core domestic business returns to pre-Covid levels

    2020-08-21T13:38:00Z

    The giant Chinese e-commerce company Alibaba said that its domestic core commerce business has ”fully recovered” to pre-Covid-19 levels during the first quarter ended on June 30. Revenues rose by 34 percent year-over-year to 153.8 billion yuan renmimbi (€18.8bn-$22.2bn) during the quarter, beating market expectations of RMB 148 ...

  • News briefs

    Global bankruptcies may rise by 35% over 2 yrs

    2020-07-21T09:03:00Z

    Global corporate bankruptcies are expected to rise by 35 percent in 2021 compared with 2019 because of the Covid-19 pandemic, representing an average annual compound growth of 16 percent in 2020 and 2021, an annual average similar to the one seen during the 2007-2009 crisis, according to a study from ...

  • Article

    Hotter Shoes submits debt restructuring plan to creditors

    2020-07-15T17:47:00Z

    UK footwear chain Hotter Shoes has reportedly gone ahead with plans to file a company voluntary arrangement (CVA) proposal to creditors and shareholders seeking approval to close 46 stores as it deals with the impact of the coronavirus pandemic. The plan would leave the company, owned by Electra Private ...

  • Micam Americas logo
    Article

    Micam Americas September edition cancelled

    2020-07-12T16:26:00Z

    The British trade fair organizer Informa Markets has cancelled the fashion trade show Magic , which includes the footwear show Micam Americas , scheduled to run from Sept. 30 to Oct. 2 at the Las Vegas Convention Center due to health, safety and travel concerns related to the Covid-19 pandemic. ...

  • Inventory
    Article

    ​How are retailers managing excess stock in Covid-19 times?

    2020-07-07T06:12:00Z

    Managing stock has always been a tricky part of any business. But it becomes even more so when demand evaporates overnight as occurred with the outbreak of the Covid-19 pandemic and the subsequent lockdowns worldwide, prompting manufacturers and retailers to be nimble and explore various different solutions.

  • Crocs new headquarters inside
    News briefs

    Crocs opens new headquarters in Colorado

    2020-07-05T09:21:00Z

    On June 24, Crocs , opened its new corporate headquarters in Broomfield, Colorado, less than 20 miles from downtown Denver. In addition to the nearly 375 current positions, the some 90,000 square foot facility located in the Atria campus will allow the company to “significantly” expand to hire more full-time ...

  • News briefs

    Marypaz to lay off staff, close stores in Spain

    2020-07-01T06:49:00Z

    Marypaz , the Spanish maker and retailer of women’s shoes and accessories, is planning to lay off 170 employees, out of a total workforce of 600 as of Dec. 31, 2019, in an effort to limit the damages of the coronavirus crisis. According to reports in modaes.es , the company ...

  • News briefs

    LVMH saw ‘rather vigorous’ signs of recovery in June

    2020-06-30T18:42:00Z

    The French luxury goods group LVMH says that it does not have a timeframe for when its business will return to normal but it noted “rather vigorous” signs of recovery in June. Speaking at the group’s annual general meeting, its chairman and chief executive Bernard Arnault warns ...

  • Beverly Feldman
  • News briefs

    Obuv Rossii starts selling bicycles

    2020-06-23T09:28:00Z

    As in many other countries, bicycles have become a hot commodity in Russia as an ecological alternative to public transport, in order to avoid contamination from the novel coronavirus, while keeping fit. Even a leading Russian footwear retailer, Obuv Rossii , has begun selling bicycles, handling after-sale servicing in its ...

  • Article

    Hotter plans to downsize with creditors’ support

    2020-06-22T05:52:00Z

    Electra Private Equity , which owns the British footwear manufacturer and retailer Hotter Shoes , plans to downsize the company through a company voluntary arrangement (CVA) process. A CVA enables an insolvent company to seek an agreement with its creditors. But, the arrangement has to be approved by ...