All E-Commerce & DTC articles – Page 27
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Article
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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Article
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.
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Article
Ecco goes more digital
The expansion of Ecco’s store portfolio growth slowed to the addition of only six extra shops, with 200 openings and 194 closures. On the other hand, investments in direct-to-consumer sales channels continued in 2019, with net sales from retail and e-commerce combined increasing by 10.9 percent. Revenues from online channels ...
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Article
U.S. shoe retail chains react to Covid-19
Genesco furloughed several employees at its corporate offices, call centers and distribution centers, slashing its workforce by 90 percent. More highly compensated employees will have their pay reduced. The group said it will continue to maintain health benefits for all furloughed employees. On a positive note, Genesco said that ...
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Article
CCC’s online sales mitigate coronavirus impact
CCC, the international Polish-based shoe manufacturer and retailer, saw revenues for the first quarter of 2020 decline by 9 percent from the year-ago quarter to PLN 944 million (€207.9m-$226.5m).
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Article
Asos raises £247 million in capital increase
Asos raised £247 million pounds (€281m-$308m) with the placement of 15,805,943 new ordinary shares. The British online fashion retailer said that the cash call was intended to protect it against a prolonged downturn stemming from the current Covid-19 pandemic and to position the business for long-term growth.
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Article
German suppliers and retailers cooperate in the Covid-19 crisis
The German shoe industry association, HDS/L, is working on a special program for retailers together with the BDSE, the federal association of shoe retailers, according to Schuhkurier. Each brand or manufacturer should define the shoe models from the current, already delivered, spring/summer collection whose sale will be postponed for the ...
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OpinionWhy 2020 could be the year Amazon becomes unstoppable
From infiltrating the pharma business to owning the internet, the Amazon juggernaut will be flexing its muscle with broad implications.
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Article
With higher sales and visits, Zalando pushes its marketplace
Zalando’s momentum keeps going, and the e-tailer is looking at new ways to grow after posting strong results for the fourth quarter of the year. One of the highlights was a jump in the number of site visits, which progressed by 31.9 percent to 960.7 million. The company’s revenues ...
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Article
E-commerce drove Steve Madden
Steve Madden issued a cautious outlook for 2020 due to headwinds from the coronavirus outbreak, China tariffs and the termination of the Kate Spade footwear license. It said on Feb. 27 that it expected revenues to remain flat or to increase by 1 percent compared with 2019, but then on ...
