Coronavirus Ticker – Page 7
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News briefs
Tourism drought expected to reduce European luxury sales
LVMH said it expects revenues to drop by 10 to 20 percent year-on-year in the first quarter of 2020, as restrictions to combat the Covid-19 pandemic have forced the group to close production sites and stores in several countries. Separately, the bank RBC Europe said that overall global ...
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News briefs
Sanita donation
Sanita , the brand specializing in professional clogs, has announced that it will be donating a part of every purchase from April 3 through the end of the month to support medical providers and hospitality workers, in connection with the ongoing coronavirus crisis. These professional categories also happen ...
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News briefs
Havaianas for healthcare workers
Alpargatas , the Brazilian group that owns the Havaianas brand, has converted its production lines to produce clogs for the medical sector. The company will donate 18,000 pairs of shoes designed for use by healthcare professionals in São Paulo hospitals, made in the Havaianas factories in place of flip-flop ...
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News briefs
France faces a significant rise in bankruptcies
A French legal information provider Infolegale, said that France faces the risk of experiencing a first “significant” wave of corporate bankruptcies from the end of April as the most fragile companies succumb to the economic impact of the Covid-19 pandemic. Based on bankruptcy rulings issued between April 1 and 3, ...
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News briefs
Clarks plans to permanently close some U.K. stores
Clarks intends to permanently close a “small number” of stores, which will not reopen after a nationwide lockdown is lifted in the U.K. The footwear company has 347 stores in the country, which were all closed due to the Covid-19 pandemic. According to the daily The Sun , Clarks ...
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News briefs
Foschini to forgo rent payments during South African lockdown
The South African retailer Foschini has said that it will not pay rent on its stores during the nationwide Covid-19 lockdown that began on March 27. “Once the situation normalizes we will then be able to assess the full financial impact on the business and will engage with you ...
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News briefs
Portuguese footwear factories are producing masks
Several footwear companies in Portugal’s northern towns of Felgueiras, Oliveira da Azemeis and São João da Madeira are temporarily replacing the production of footwear with the manufacturing of medical masks, according to the website of the country’s footwear association, Apiccaps . The equipment will be donated to healthcare professionals and ...
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Article
Ferragamo’s Q1 sales drop by 30.6%
Salvatore Ferragamo said that its sales fell by 30.6 percent to €220 million in the first quarter due to the impact of the novel coronavirus, Covid-19. At constant currency rates, the top line was down by 31.4 percent.
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News briefs
Ferragamo contributes to renovation of Florentine hospital
In a move intended to alleviate the healthcare problems caused by Covid-19, Salvatore Ferragamo and a Florentine foundation have financed the renovation of two wards of a disused hospital in Florence, I Fraticini, which now has 60 beds for patients recovering from the novel coronavirus or who need to ...
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Article
Non-athletic footwear helped Shoe Carnival to a good year-end
After a sluggish first half of its last financial year, the low-priced American shoe retailer saw revenues accelerate in the second half. Sales for its fourth fiscal quarter, ended on Feb.1, increased by 2.2 percent from the year-ago quarter to $239.8 million. Comparable store sales jumped by 3.2 percent.
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News briefs
Confindustria asks landlords to postpone rents
The Italian government having halted most commerce until April 3, Confindustria Moda has written to commercial landlords asking them to postpone the payment of rents or renegotiate leases for the Italian fashion retailers it represents. The association’s president, Claudio Marenzi , worries that the situation in Italy is far ...
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Article
Expo Riva Schuh and other shows are cancelled or postponed
Riva del Garda Fierecongressi has cancelled the upcoming editions of Expo Riva Schuh and Gardabags , both of which shows it organizes, because of the Covid-19 pandemic. They were scheduled for June 13-16 in Riva del Garda, Italy. In consultation with local and international exhibitors, visitors and ...
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News briefs
Global bankruptcies expected to rise by 25% this year
Global bankruptcies are expected to rise by 25 percent this year because of an economic recession triggered by the Covid-19 pandemic, according to a new forecast released by Coface. The French credit insurer’s forecast assumes a gradual economic recovery starting in the third quarter and rules out a second wave ...
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ArticleEurope has become the “epicenter” of the coronavirus pandemic
The World Health Organization (WHO) has warned that Europe has now become the “epicenter” of the novel coronavirus pandemic as the virus spreads dramatically, prompting nations to totally or partially shut down their economies. On March 22, the Italian government issued a decree imposing the closure of all manufacturing ...
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Article
Germany withstands the disease in better ways
Italy, the largest shoe manufacturing country on the continent, has suffered the highest number of deaths, followed by Spain, the second-largest producer. The official number of deaths related to the epidemic is now higher in Italy than in China, where it started last December. After Italy, Spain became the second ...
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Article
After Europe, the U.S. shuts down at retail
In the last few days, major shoe retail chains in the U.S. have announced a temporary closure of their stores because of the coronavirus epidemic, while continuing to pay the store personnel. Shoe Carnival , which is set to report its latest results later this week, said on March 19 ...
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Article
Italian fashion groups cut costs to mitigate coronavirus impact
Tod’s , Salvatore Ferragamo , Prada and Aeffe , which are all listed companies, have announced measures to cut costs in order to mitigate the impact of the novel coronavirus epidemic, which has affected sales and manufacturing. Tod’s noted that the arrival of the novel coronavirus, known as Covid-19, ...
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Article
Gallery Shoes in the time of coronavirus
After intensive consultations, and with the backing of the Federal Association of German Shoe Retailers (BDSE) and the Federal Association of the German Footwear and Leathergoods Industry (HDS/L) , the Gallery Shoes show took place as scheduled in Düsseldorf on March 8-10. According to the organizers, major global events ...
