Latest Headlines – Page 109
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ArticleTheo Henkelman, Only A Shoes follow FNG Group into bankruptcy
The two Dutch shoe companies Theo Henkelman and Only A Shoes had to file for bankruptcy in the wake of the insolvency of part of the Belgian fashion firm FNG Group. The bankruptcy proceedings started on Aug. 10 for the two Dutch units. The administrator in charge of managing the ...
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ArticleStuart Weitzman’s Q4 sales plummet to $33 million
In the fiscal fourth quarter ended on June 27, Stuart Weitzman posted net sales of $33 million, down from $85 million in the same period of the prior year, largely due to the impact of the Covid-19 pandemic. The brand, which is owned by the American group Tapestry, saw its ...
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Wildberries doubled H1 sales amid the Covid-19 pandemic
In the first half of 2020, the Russian online retailer Wildberries boosted turnover by 110 percent year-on-year to 178.7 billion rubles (€2.05bn-$2.42bn). In the second quarter alone, sales rose a record-breaking 123 percent to RUB 103.4 billion (€1.18bn-$1.4bn). In volume, sales tripled during the second quarter, when offline sales in ...
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ArticleNew records in footwear production and exports before Covid-19
Global production of footwear reached a record of 24.3 billion pairs in 2019, according to the latest edition of the World Footwear Yearbook, published annually by Apiccaps, the Portuguese industry association of footwear, leathergoods and related components. This new record marks a 21.2 percent increase from the production figure registered ...
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German shoe industry joins forces to launch data sharing platform
Germany’s shoe industry has joined a wide-ranging alliance to set up a data exchange and clearing platform for the sector. The footwear buying groups ANWR and Sabu, the shoe and leather goods industry association HDS/L and the merchandise management providers ETOS and Brandt Retail groups have agreed on a joint ...
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ArticleZalando benefits from the lockdown as Q2 sales, profits surge
Zalando ‘s net profit rose to €122.6 million in the second quarter from €45.5 million a year earlier as its client base expanded. The German online fashion retailer now serves 34.1 million active customers across Europe, up by 20.4 percent year-on-year. Gross merchandise volume (GMV) increased by 33.0 percent to ...
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ArticleMoreschi’s relaunch is in turmoil
The Moreschi family is seeking to block the transfer of a 50.37 percent in the namesake company to Hurley, a Swiss company run by Guido Scalfi, on the grounds that an agreement to relaunch the company is not being respected. In a statement, the Moreschi family said “we will not ...
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ArticleWeyco ends Q2 with loss, sales tumble by 72%
Weyco Group posted a net loss of $8.9 million in the second quarter, compared to net earnings of $1.5 million in last year’s corresponding quarter, on revenues that dropped by 72 percent to $16.7 million, hampered by store closures and lockdowns. During the past few months, the group adjusted its ...
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ArticleFashion retail in Russia fails to return to pre-crisis sales levels
In Moscow, turnover of the fashion retail market has stabilized at 72 to 75 percent of pre-coronavirus crisis levels, research conducted by the Moscow-based IT company Evotor showed. Fashion retail is recovering slower than other retail segments, and as of the end of July the growth in turnover on this ...
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ArticleAktiv Schuh files for bankruptcy as pandemic ravages sales
Aktiv Schuh filed for bankruptcy at the district court of Berlin-Charlottenburg on July 23, applying for self-administration due to an impending insolvency as a result a sharp decline in sales stemming from the restrictions caused by the coronavirus pandemic. After a promising start to 2020, sales dipped from March to ...
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ArticleJimmy Choo Q1 sales down by 67.7%
Jimmy Choo posted a 67.7 percent year-on-year decline in sales to $51 million in the first quarter ended on June 27 due to the impact of the Covid-19 pandemic. The operating loss was $29 million compared to an operating income of $11 million a year ago, resulting in a negative ...
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ArticleAlpargatas thrives abroad amid challenging context
Despite the economic impact of the coronavirus pandemic, Alpargatas, the parent company of Havaianas and Osklen, managed to grow its revenues abroad in the second quarter. Overall sales declined by 19.6 percent to 680.5 million Brazilian reais (€108.6m-$128.6m), while the gross margin expanded by 2.1 percentage points to 53.0 percent. ...
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ArticleFrench court clears André’s takeover by its former CEO
On July 28, a commercial court based in Grenoble, France, authorized François Feijoo to take over from Aug. 5 the footwear retailer André. The company filed for bankruptcy on March 23 after its owner Spartoo was unable to obtain sufficient financing to continue the business. Feijoo was the only investor ...
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ArticlePrimark launches recycling for clothes, footwear, bags
Primark is rolling out a recycling programme across the U.K., inviting customers to donate clothes, textiles, footwear and bags from any brand to be reused, recycled or repurposed, with nothing going to landfills. Through the Primark In-Store Recycling Scheme, collection boxes will be available in 190 of the fast-fashion retailer’s ...
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ArticleGeox sees gradual recovery after H1 sales drop by 39.0%
Geox has reopened all its directly-operated stores (DOS) temporarily closed due to the Covid-19 pandemic and is seeing a gradual recovery in its performance after first half sales took a hit from store closures during lockdowns. Yet it cautions that uncertainties about the “still very much ongoing” pandemic make forecasts ...
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ArticleVF expects some improvement in the second fiscal quarter
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
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ArticleHoka’s momentum saves Deckers’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
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ArticleHotter Shoes to close 46 stores as CVA approved by creditors
UK footwear chain Hotter Shoes will press ahead with plans to close 46 stores after creditors approved a Company Voluntary Arrangement (CVA) to restructure the firm during the coronavirus pandemic. The CVA was approved by 99.5 percent of voting creditors, including an “overwhelming majority of landlords”, passing the legal 75 ...
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Josef Seibel plans shoe factory in Africa
Josef Seibel Group plans to open a new shoe factory in Ukunda, Kenya, in autumn 2020. It is a humanitarian project by the German company’s chief executive, and president of the Federal industrial footwear and leather goods’ association HDS/L, Carl-August Seibel. He had already financed and built a primary school ...
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ArticleCrocs’ results boosted by e-commerce
While many brick-and-mortar stores were closed during the second quarter, Crocs saw record sales in e-commerce, as consumers migrated to online shopping during the pandemic. Revenues for the three months ended on June 30 declined by 7.6 percent from the year-ago quarter to $331.5 million, or by 6.0 percent on ...
