Latest Headlines – Page 128
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Sales of illegal shoes are booming in Russia
A few months before the long-awaited introduction of the compulsory tagging of all shoes in with RFID chips in Russia, the flow of counterfeit footwear is skyrocketing in the country. Natalia Demidova, director of the Russian National Shoe Union, told the Russian Retail Week conference in Moscow that their market ...
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Dangerous smuggled shoes are sold in Ukraine
All the footwear sold in the stores of a Ukrainian retailer, Konfiscat Obuv, could be dangerous to the health of customers, said the Ukraine shoe industry association, Ukrkozhobuvprom, in a public statement, drawing public attention to a serious smuggling problem in the country.According to the association, this company has been ...
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A big Russian shoe retailer is close to bankruptcy
The Russian Federal Tax Service has opened a case against a big Russian shoe retailer, Tervolina, asking for its insolvency unless it pays back taxes. The company is already subject to several enforcement proceedings over the total debt of 2.8 million rubles (€39,000-$44,000) owed to other creditors, according to an ...
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Belle plans to spin off Topsports
After going private two years ago, Belle International is preparing a public offering for Topsports, a retail subsidiary that is regarded as China's largest network of sporting goods stores. A listing application was made on June 27 to the Hong Kong stock exchange for the IPO, showing that it would ...
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Sneakers: a never-ending story
Claudia Schulz, a well-known German fashion expert who enjoys a strong reputation in the footwear market beyond the national borders, feels that the strong sneaker trend is here to stay, although WSGN recently indicated at the Micam trade show that sales of “trainers” seem to have reached a peak in ...
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Sneakers are in high demand in Germany, and online is strong
German customers bought sneakers for a value of €592 million in 2018, according to a “Sector Report Shoes 2019” released by Marketmedia24 and Noceanz. They spent more on women's sandals, for a total of €610 million.On the other hand, sneakers were the most desired items for German women, with a ...
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CCC acquires Gino Rossi
CCC Shoe & Bags, the fast-growing Polish retailing group, announced on May 24 the acquisition of a 90.02 stake in another Polish shoe company, Gino Rossi, through an equity increase worth 60.2 million zlotys (€14.1m-$16.0m). It had already made a strategic cooperation agreement with the company last September, allowing CCC ...
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Deckers is doing well
Deckers Brands, the parent of Ugg and other footwear brands, broke the $2 billion milestone in the financial year ended March 31 as its total revenues went up by 6 percent to $2,020 million. The gross margin improved by 2.5 percentage points to 51.5 percent and the group's comprehensive ...
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Jimmy Choo outperforms
Capri Holdings, the American group previously known as Michael Kors, reported a decline of 8.44 percent in its net income to $542 million for the financial year ended on March 31. The company's operating margin (Ebit) decreased by 1.9 percentage points to 14.0 percent, while revenues jumped by 11.0 percent ...
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Hunter swings to a profit
Hunter Boot recorded total sales of £113.8 million (€128.6m-$144.9m) last year, representing an increase of 9 percent as compared to the previous year. According to the British company, the growth was primarily driven by increases of 13 percent both in the U.S. and in the Asia-Pacific region.Hunter took direct control ...
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Rocky Brands off to a good start
Thanks to the implementation of several measures to cut cost and boost growth - including the update of its manufacturing capabilities in 2017 - Rocky Brands' retail sales recorded double-digit growth during the first quarter of 2019, while the wholesale business posted a solid gain. The gross margin and profits ...
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Genesco’s Schuh chain gets out of Germany
Schuh, the Scottish-based youth-oriented shoe retailer owned by Genesco, is closing all its three stores in Germany on June 22. Its German website www.schuh.eu/de will continue to operate, but the orders will be fulfilled by the chain's warehouses in the U.K. The company, which adopted the German word for “shoe” as its ...
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Group results indicate a turnaround
On the other hand, Genesco reported net income of $6.3 million for the quarter, compared with a net loss of $2.3 million in the corresponding quarter of last year. The company's operating margin (Ebit) improved by 1.1 percentage points to 1.8 percent, while revenues rose by 2.0 percent to $495.6 ...
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Mixed quarter for Caleres
Caleres recorded a drop of 18.8 percent in adjusted net earnings to $15.0 million for the first quarter of 2019, ended on May 4. The adjusted Ebitda margin fell by 0.2 percentage points to 3.7 percent, due primarily to a number of headwinds including unseasonable weather conditions that forced its ...
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Mixed start of the year for Designer Brands
The situation was not very different for Designer Brands, the American shoe retailing group previously called DSW, which reported a 28.4 percent increase in its net income to $31.2 million for the quarter ended on May 4. The company's operating margin (Ebit) declined by 0.4 percentage points to 5.0 percent, ...
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Shoe Carnival looks for consumer insights
Shoe Carnival had a slow start to the first quarter of 2019, which it blamed on poor weather and delayed tax refunds. The American shoe retailer's revenues decreased by 1 percent from the year-ago quarter to $253.8 million, while comparable store sales declined by 0.2 percent.However, the management pointed out ...
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President Trump’s special diplomacy shakes up the footwear market
American shoemakers are reassessing their sourcing strategies while U.S. President Donald Trump continues to play hardball with the Chinese government, threatening to raise import duties by a further 25 percent on a number products, including footwear, by Aug. 1. If that happens, duties paid on shoe imports into the U.S. ...
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Brazilian footwear is benefiting from the trade war with China
Things seem to be looking up for Brazilian footwear. From January to April of this year, the industry exported 44.16 million pairs valued at $343.8 million, a 9.4 percent increase in pairs combined with a 0.1 percent decrease in dollars. The chief importer was the U.S., which has been purchasing ...
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U.S. removes India and Turkey from GSP trade program
The U.S. government has pulled India and Turkey out of its Generalized System of Preferences (GSP) scheme, which allows thousands of products to be imported into the U.S. without duties. The U.S. is currently reviewing GSP benefits for Indonesia and Thailand.GSP eligibility ended on June 5 for India and on ...
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Indian leather shoe exports up by nearly 1%
Exports of leather footwear rose by 0.95 percent to the equivalent of $1.8 billion in the ten months from April 2018 to January 2019, while overall exports of leather products dropped by 1.10 percent to $4.5 billion, according to the Indian Council for Leather Exports (CLE). Exports of leather shoes ...
