All E-Commerce & DTC articles – Page 27
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Article
Footwear did not benefit from surge in online purchases in the U.K.
A couple of suveys have confirmed that online sales surged during the lockdown in the U.K. but unfortunately footwear did not profit from the rising tide. The situation is also changing consumers’ behaviors to the detriment of clothing.
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News briefs
Farfetch continues to grow strongly in Q1 and lose money
The British online fashion retailer Farfetch saw gross sales value rise by 46 percent in the first quarter of 2020 to $610.87 million, while the net loss increased slightly to $79.18 million from $77.69 million a year earlier. Revenue increased by 90 percent to $331.44 million. The gross margin narrowed ...
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News briefs
Yoox Net-a-Porter Group reopens distribution centers
After Yoox Net-a-Porter Group (YNPG) had to close down its online stores, Net-a-Porter, Mr Porter, The Outnet and Yoox, at the end of March, Yoox, The Outnet and Mr Porter started to work again at the end of April and Net-a-Porter took orders again from last week. Deliveries might take ...
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News briefs
Superga opens first flagship store in Germany
Superga, part of BasicNet, the parent company of Kappa, K-Way, Superga and other brands, opened a new flagship store in Berlin on May 2. The store covers 80 square meters and is located in the Bikini shopping mall. Superga had already opened a pop-up store in the popular shopping mall ...
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News briefs
Zalando opens new outlet stores, plans five extra outlets by 2022
Zalando has opened a 1,400-square-meter outlet store in Mannheim, bringing the total to nine in Germany. The opening was planned for April but was postponed after the recent lockdown in the country and the subsequent gradual reopening that was initially limited to stores of up to 800 square meters. The ...
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Article
Zalando sees 2020 revenues up by 10-20%
Zalando issued a new full-year guidance which takes into account the impact of the Covid-19 pandemic and sees gross merchandise volume (GMV) and revenues up by 10-20 percent. It noted that its forecast growth is significantly above the expected increase for the overall fashion industry.
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Article
Geox’s Q1 sales fall by 30%
Geox’s sales fell sharply in the first quarter of 2020, which was heavily affected by temporary store closures due to the Covid-19 pandemic in all regions the company is present. It warned that the second quarter will be worse.
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Article
Rohde plans e-commerce platform this year
The German shoemaker Rohde intends to launch a business-to-business (B2B) online platform this summer, followed by a business-to-consumer (B2C) site.
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Boohoo hikes cash pile while Farfetch continues to burn cash
boohoo is building up its cash pile thanks to its highly cash-generative business model and is ready to go on an acquisition campaign. Meanwhile, Farfetch continues to burn cash.
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ArticleThe Italian footwear industry prepares to restart
On April 20, Gucci reopened ArtLab, a facility producing prototypes and samples for the brand’s leathergoods and footwear lines in Scandicci, near Florence. The announcement was a milestone in Italy’s attempt to gradually return to normality after the government imposed a nationwide lockdown on March 10 to combat the Covid-19 ...
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Stuart Weitzman parent cuts North America retail staff
Tapestry is laying off 2,100 retail workers and threatening to axe more jobs from June 1 as it seeks to weather the Covid-19 pandemic. The company is also focusing its resources in the digital field.
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ArticleSome stores are re-opening in Germany
After consultations with the state governors, German Chancellor Angela Merkel announced on April 15 that certain types of stores could open again from Monday April 20, after being shut down for five weeks. The retail lockdown for non-essential items was relaxed only for stores that have a maximum surface of ...
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News briefs
Footway’s bid for Sportamore has succeeded
The tender offer launched by Footway for Sportamore has been accepted by 95.9 percent of the Swedish sports e-tailer’s shareholders. Footway, a more international-oriented online shoe retailer, is paying a total of 439 million Swedish kronor (€40.4m-$43.9m) for Sportamore. Because of its de-listing from the Nasdaq Stockholm exchange, the publication ...
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Article
Skechers’ Q1 net falls by 55%
Skechers USA reported a drop of 54.9 percent to $49.1 million in its net earnings for the first quarter ended March 31 on 2.7 percent lower revenues of $1,242 million. In terms of local currencies, sales were down by 1.2 percent, with a small increase of 2.9 percent in the ...
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Article
Crocs’ Q1 sales decline, despite strong growth in America
Coronavirus hampered Crocs’ results early in the first three months of the year, especially in Asia, but this was partly offset by high store comparable sales in America, where the virus disrupted retail late in the quarter. Revenues for the first quarter declined by 5.0 percent from the year-ago quarter ...
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Article
VF books $380 million impairment for underperforming Timberland
VF Corporation booked a goodwill impairment charge of $320 million on Timberland, which has not been performing as well as its other brands. In the full year ended on March 28, the group expects operating profit to be between $1.0 billion and $1.1 billion for its continuing operation. It also ...
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Article
Yue Yuen’s manufacturing revenues fall by 10%
Yue Yuen Industrial Holdings is warning investors that its results for the first quarter of 2020 will show a net loss of $50 million to $70 million, compared with a gain of $75 million in the year-ago period, because of the disruption of its supply chain and the lockdown of ...
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Article
Europe and e-commerce helped Wolverine in Q1
After posting record financial results in the fourth quarter of 2019, Wolverine Worldwide also fared relatively well in the first quarter ended on March 28, given the challenging conditions caused by Covid-19, thanks mainly to higher online sales, a strong performance in Europe and the Saucony brand.
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News briefs
eBay appoints new CEO
eBay has appointed Jamie Iannone, most recently chief operating officer of Walmart’s e-commerce division, as its new chief executive officer, effective Apr. 27. He succeeds Devin Wenig, who left eBay in September 2019. Scott Schenkel has acted as interim CEO. He was previously the group’s chief financial officer.
