Latest Headlines

  • Article

    Next to sell the Gap brand in the U.K., Ireland

    2021-09-18T15:09:00Z

    The British apparel retailer Next has reached an agreement under which it will sell the Gap brand in the U.K. and Ireland after the U.S. brand decided to close its own stores in those markets. The two groups have created a joint venture to operate Gap’s e-commerce business across Next’s ...

  • Brazil picture
    Article

    Brazilian exports return to pre-Covid levels in volume

    2021-09-17T14:27:00Z

    In the first eight months of 2021, Brazilian footwear exports rose by 33.4 percent year-over-year in volume to 75.2 million pairs and by 23.9 percent in value to $541.34 million, according to data released by the trade association Abicalçados. When compared with the first eight months of 2019, exports fell ...

  • crocs
    Article

    Crocs wants to triple sales in five years

    2021-09-16T12:05:00Z

    Crocs said it is targeting an operating margin of at least 26 percent on annual sales of $5 billion by 2026, with 50 percent of the turnover or more due to be generated through digital channels. This would compare with an adjusted operating margin of 18.9 percent in 2020 on ...

  • Zara-Symbol
    Article

    Inditex posts record results in Q2

    2021-09-15T11:29:00Z

    Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, posted record results in the second quarter ended July 31, as sales rose by 7 percent at constant currency rates compared with the second quarter of 2019, which was not affected by the ...

  • Article

    Extended Covid restrictions in Vietnam are hitting companies hard

    2021-09-15T09:49:00Z

    Footwear brands expected to suffer considerable damage from a decision by Vietnamese authorities to extend their strict Covid-19 restrictions in the Ho Chi Minh City region until the end of the month. They were originally scheduled to be lifted on Sept. 15, but the measures taken so far have prevented ...

  • JD Sports
    Article

    JD raises FY guidance after record-setting H1 profits

    2021-09-15T08:20:00Z

    JD Sports Fashion reported a profit before exceptional items and taxes of 439.5 million pounds (€515.1m-$608.8m) for the first half ended July 31, up sharply from £61.9 million in the same period a year ago, as acquisitions, the U.S. government’s stimulus package and pent-up demand allowed it to rebound strongly ...

  • Primark store
    Article

    Primark benefits from pent-up demand, sees inventories declining

    2021-09-13T13:12:00Z

    Associated British Foods (ABF) expects the adjusted operating profit of its food business and Primark to exceed its expectation for the fourth quarter ending Sept. 18. “Primark’s operating profit margin in the period was strong despite lower than expected sales,” ABF said in a statement. Primark is expected to post ...

  • Kantar
    Article

    Kantar Media Reactions study 2021 sees local advertising strong besides digital channels

    2021-09-13T11:41:00Z

    Research and consulting agency Kantar has just released its Media Reactions 2021 study, informed by the opinions of over 14,500 consumers covering over 290 brands in 23 markets and 900 senior marketers worldwide. The report gives some interesting insight into the changes in the media landscape reflected by the popularity ...

  • Micam
    Article

    For the first time an official Chinese delegation is present at Micam

    2021-09-13T08:04:00Z

    For the first time an official Chinese delegation will be present at Micam, which is being held from Sept. 19 to 21 at the Fieramilano Rho exhibition center at the outskirts of Milan. The German footwear and leather association HDS/L will also be debuting at the show. Despite China being ...

  • tods 3
    Article

    Tod’s sees full-year sales reaching €800m

    2021-09-10T11:42:00Z

    Tod’s believes that its sales could rebound to about €800 million this year, compared with €637.1 million in 2020 when business was severely affected by the Covid-19 pandemic. The top line would still be significantly below the €916.0 million posted in 2019. In a conference call, Emilio Macellari, the chief ...

  • canmandawe-_VwbZ3mn2Sk-unsplash
    Article

    ​Italian footwear output rises 12.9% in H1

    2021-09-09T10:55:00Z

    Italian footwear production rose by 12.9 percent in the first half of 2021 against the same period in 2020, when the industry was affected by the outbreak of the Covid-19 pandemic. But, output remained 26.3 percent below the level seen in the first half of 2019, according to data from ...

  • Salvatore Ferragamo
    Article

    Ferragamo’s strong retail showing continues after profitable H1

    2021-09-08T17:03:00Z

    Salvatore Ferragamo continued to enjoy strong revenue growth in directly-operated stores (DOS) in the U.S., China, South Korea and Latin America in August compared both with the year earlier and 2019, as it unveiled a better-than-expected Ebit target for the full year on the back of a sharp improvement in ...

  • Caleres
    Article

    Caleres benefits from full-price selling and plans price increases from Q4

    2021-09-06T08:47:00Z

    In the second quarter ended July 31, Caleres posted record quarterly earnings driven by more full-price selling and lower promotional activity as a result of tighter inventories due to disruptions and delays across the supply chain caused by the Covid-19 pandemic. The group’s inventories were about 28 percent below the ...

  • genesco
    Article

    Genesco sees lower Q3 margins on higher freight costs after strong Q2

    2021-09-06T07:33:00Z

    Genesco forecast that its margins will be squeezed in the third quarter of its 2022 fiscal year amid persistent supply chain challenges and resulting higher freight costs that are seen lasting at least until the end of the year. The warning comes after the American retailer posted better-than-expected profits and ...

  • Birkenstock shoes
    Article

    Birkenstock invests €100m to expand Görlitz plant, build new factory

    2021-09-06T07:32:00Z

    Birkenstock announced two investment projects worth a combined €100 million and aimed at increasing brand awareness and strengthening its position in the market as a premium manufacturer of German-made shoes. Birkenstock will invest €50 million in its factory in Görlitz, in the eastern Saxony region, and a similar ...

  • Sequential Brands
    Article

    Sequential files for bankruptcy protection

    2021-09-05T15:04:00Z

    After many loss-making quarters and the sale of four brands - Heelys, DVS Footwear, Caribbean Joe and Ellen Tracy - earlier this year, the heavily indebted Sequential Brands Group commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware on Aug. 31 to protect it ...

  • JD Sports
    Article

    U.K. regulator still opposes JD’s takeover of Footasylum

    2021-09-05T09:31:00Z

    Leaving the door open for comments by Sept. 16 before making a final decision in October, the U.K. Competition and Markets Authority (CMA) restated on Sept. 2 its provisional ban on JD Sports Fashion’s already completed acquisition of the Footasylum, in spite of criticism expressed by the Competition Appeal Tribunal ...

  • Prada logo
    Article

    Prada requires health pass or Covid testing for Italian staff

    2021-09-01T15:55:00Z

    Starting Sept. 6, Prada is asking its over 3,000 workers in Italy to submit proof of Covid-19 vaccination or recovery from the virus to access its facilities. As of that date, employees of the luxury group in Milan and the Tuscany region will be asked to show the digital Covid ...

  • Designer Brands store
    Article

    ​Designer Brands gains market share in athleisure, kids’ footwear

    2021-09-01T14:58:00Z

    In the second quarter ended July 31, Designer Brands posted a 66.9 percent year-on-year increase in net sales to $817.3 million, with comparable sales up by 84.9 percent as it continues to focus on athleisure and kids’ footwear. The U.S. retail business posted an 83.5 percent increase in sales to ...

  • allbirds
    Article

    Allbirds files for IPO but remains loss-making

    2021-09-01T05:50:00Z

    Allbirds, the B Corporation certified Californian brand of footwear and apparel, has filed an application with the U.S. Securities and Exchange Commission for an initial public offering. The document indicates the size of the transaction at $100 million, which is an estimation solely made to define the registration fee of ...