All Footway articles
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Article
The stocks of footwear companies inched up in Q4
The prices of stocks monitored by Shoe Intelligence grew by 4 percent on average in the fourth quarter of 2023, compared with the previous three months, but trading remained volatile, with significant fluctuations among the companies of the cohort. The quarter was marked by the initial public offering (IPO) of ...
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News briefs
Footway secures a debt settlement
Footway Group’s restructuring plan has been approved, resulting in a debt settlement where the e-commerce company will pay approximately 70 million Swedish kronor (€6.17m) to its creditors in mid-March. The decision had broad support among creditors and Footway expects to exit the restructuring program in mid-February. According to the company, ...
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News briefs
Footway to hold an EGM on Jan. 25
The e-commerce company Footway Group AB has convened an extraordinary general meeting for its shareholders on Jan. 25, 2024, at the company’s premises in Kista, Sweden. The company stated in a press release that it “will shortly apply for plan negotiations to complete the reconstruction formally,” and it is expected ...
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News briefs
Footway employees and directors invest into the company
Footway Group AB has announced that key employees and board members, together with investors, have acquired a significant portion of the Swedish company’s capital. The transaction comprises a total of approximately 8.8 million shares, representing about 8.7 percent of the company’s share capital and 10.4 percent of the voting rights. ...
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News briefs
Footway’s sales fall, losses widen in Q3
Footway Group AB, the Swedish operator of specialized online stores, which has been undergoing restructuring since July 25 this year, has presented its latest figures for the third quarter of the current fiscal year. Sales amounted to 136 million Swedish kroner (€11.77m) compared to SEK 261.6 million (€22.63m) in the ...
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Article
The stocks of footwear companies continued to be under pressure in Q3
The prices of stocks monitored by Shoe Intelligence fell by 7 percent on average in the third quarter of 2023 compared with the previous three months amid ongoing concern about the economic outlook due to weak demand, higher interest rates and stubborn inflation. In the second quarter, the panel was ...
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News briefs
Footway’s creditors consent to continuation of reorganization
The creditors of the Swedish Footway Group AB, operator of specialized online stores, which has been in reorganization since July 25, have given the go-ahead for the continuation of the ongoing reorganization until Oct. 25 at the Solna District Court. Despite historic profitability and strong growth, the publicly traded company ...
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Article
Footway applies for voluntary company reorganization due to ‘acute’ liquidity situation
Footway Group, a Swedish operator of specialized online stores, has applied for voluntary company reorganization. According to the company, the decision is based on “the very challenging conditions that the sports retail industry in Sweden and Norway has faced in recent months,” which have led to an “acute” liquidity situation. ...
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Article
Footway launches a capital hike as its liquidity is under pressure
Footway announced a SEK100 million (€8.7m) capital increase and a reduction of its inventory as its liquidity “is under pressure” due to tighter credit terms from suppliers in an ”already weak market.” On July 14, Swedish e-commerce company had a market capitalization of SEK 825 million (€72m). During the first ...
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Article
Footway sees sales drop in Q1, but grows internationally
Several Swedish media outlets have reported on Footway Group’s first-quarter figures, which show that the Swedish e-commerce group’s sales fell 7.9 percent year-on-year to SEK 215.9 million (€19.08m). Operating profit (Ebitda) for the quarter was SEK -24.5 million (-€2.17m), an improvement from SEK -71.2 million a year earlier. According to ...
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News briefs
Nordic countries weigh on Footway’s results
Habit.se reports that Swedish e-commerce company Footway Group posted an operating loss of SEK 13.5 million (€1.2m) in the third quarter, compared with SEK 0.8 million (€72,700) in the corresponding period last year. Overall, the company posted sales of SEK 261.6 million (€23.8m) in the third quarter – SEK 76.3 ...
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News briefs
Record loss for Footway in Q1
After the company’s profit warning in March due to supply chain problems and decreased demand, the Swedish Footway Group has now published its Q1 financial report. The Ebit result landed at a negative71.2 million Swedish kronor (€-6.8m), compared to a loss of SEK 12.8 million in the first quarter of ...
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News briefs
New top manager and new ambitions for Footway
Indicating that it may develop into a marketplace for other retailers, the Swedish-based Footway Group announced the recruitment of a top manager from the H&M Group, Daniel Claesson, to serve as chief commercial officer, starting next Jan. 1. He acted most recently as chief product office at the H&M Group, ...
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News briefs
Footway hires Tom Söderlund as CTO
Footway , the international Swedish-based shoe e-tailer, has hired Tom Söderlund as chief technology officer. He will be in charge of the company’s technical infrastructure and architecture. Söderlund comes from Weld , which develops marketing platforms for e-retailers, where he was the co-founder and CEO. He previously ...
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Article
Footway’s new online platform has teething problems
Last April’s acquisition of Sportamore and its growing internationalization enabled Footway to expand the number of visitors and customers on its numerous websites across Europe, but reduced its profitability last year. With the inclusion of Sportamore for the last two months of 2020, the Swedish online shoe retailer reported ...
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News briefs
Footway widens e-commerce for its brands to 24 markets
Footway , the international Swedish-based shoe e-tailer, has launched a new integrated internet platform for all its operations including Sportamore , the sporting goods e-tailer that it recently acquired, widening its presence to a total of 24 markets all over Europe. The platform also houses a couple of house brands, ...
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Article
Footway wants to buy a streetwear specialist
The Footway Group , the increasingly international Swedish online shoe retailer that recently agreed to merge with Sportamore , wants to create a leading platform for e-commerce in sports and fashion by also acquiring an online retailer of streetwear and sneakers, Californian Roots , or Caliroots for short. Caliroots ...
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Article
Footway slows down
Footway , the Swedish e-commerce site, continues to grow with increased sales and good profitability, but its growth has slowed. Sales in the fourth quarter amounted to SEK 308.4 million (€29.3m-$31.7m), an increase of 16.7 percent. They grew by 30.4 percent for the year to SEK 990.9 million (€94.0m-$101.9m). ...