Latest Headlines – Page 131
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Pressure on profits for Yue Yuen
Profit margins continued to be under pressure for the world's largest shoe manufacturer, which is also a major distributor and retailer in China. Yue Yuen Industrial's total revenues increased by 8.4 percent in the first three months of this year to (U.S.) $2.48 billion, but the attributable net profit declined ...
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Grendene sees lowest sales volumes in 15 years
After a difficult 2018, there has been no sign of respite for Grendene, which posted disappointing results for the first quarter. Its overall shipments out of Brazil declined by 37.0 percent from the year-ago quarter in terms volume to 6.9 million pairs, while 21.6 million pairs were sold in Brazil, ...
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Alpargatas performs better
Alpargatas reported a 9 percent increase in sales to 940 million reals (€205.9m-$229.9m) for the first quarter of 2019, with gains in all its divisions in Brazil and abroad. In particular, the management pointed to an increase of 16.1 percent in the sales of its major brand, Havaianas, which were particularly ...
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Steve Madden raises guidance after record quarter
Steve Madden is off to a strong start in 2019, with results for the first quarter exceeding the company's expectations. The flagship Steve Madden brand was the highlight of the quarter, with robust increases in its wholesale footwear and accessories businesses, as well as a strong performance on stevemadden.com.Overall, the ...
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German shoe retailers hope for a better year
The first few months of 2019 were promising for German shoe retailers, with a combined sales increase of 16 percent in January and February alone, followed by a relatively good month of March. Last month, the retailers' sales were 9.8 percent higher than in March 2018, when they had shown ...
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Deichmann buys a U.S. sneaker chain
Deichmann has continued its expansion in the U.S. with the takeover of KicksUSA. Founded in 2002, the American retail chain, which specializes in sneakers, athletic shoes and clothing, operates 64 stores on the East Coast, primarily in Philadelphia, New York and New Jersey, as well as a web store.The shops ...
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Kienast emerges as strategic investor for Schuhpark Fascies
The family-owned Kienast Group has won a bidding race for a strategic investment in the insolvent Schuhpark Fascies chain of shoe shops in Germany. The creditors of Schuhpark Fascies will vote on the investment from Kienast and the broader insolvency plan in May, a company statement said, adding that a ...
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LK Bennett falls into Chinese hands
Once again, Chinese interests take possession of a coveted European brand name. Byland, the Chinese franchisee of LK Bennett, has taken over the brand and certain other U.K. and Irish assets of the well-known British footwear and clothing retailer, positioned in the upper-middle segment of the market. Byland said it ...
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New CEO for CCC, whose growth is boosted by e-commerce
Darius Milek, the 41-year-old Polish entrepreneur who founded CCC Shoes & Bags in the 1990s after selling shoes in an open market, has chosen to pull back from the operational management of the stock-listed company to become chairman of its supervisory board. Milek, who has become one of the wealthiest ...
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Asos is not doing so well
Zalando saw its share price go up after it announced that it expects to post a positive adjusted operating profit (Ebit) in the single-digit million range for the first quarter of this year, in contrast with market expectations of negative Ebit of €10 million. It expects to report an increase ...
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Skechers’ shares drop despite record revenues
After passing the $1 billion revenue threshold in the fourth quarter of 2018, Skechers USA ended up again with record sales in the first quarter. They reached $1,280 million, an increase of 2.1 percent over the year-ago quarter. In constant currencies, revenues increased by 5.6 percent. This was fueled by ...
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Ecco posts record sales and earnings
Ecco has said it achieved record sales and profits in 2018, despite a challenging retail environment and currency headwinds.Revenues improved by 2.6 percent to €1,310 million, while pre-tax earnings increased by 9.2 percent from the previous year to €200.7 million, indicating a comfortable margin. Currency fluctuations had a negative impact: ...
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French luxury groups grow briskly, led by Kering
Kering continues to run at a fast pace, outperforming the two other major French luxury groups and leading observers to wonder how the company will use its huge cash pile for other acquisitions, most likely in the luxury goods sector after divesting Puma and all the other components of its ...
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LVMH grows strongly, invests in tourism
LVMH's share price grew by 3.3 percent after the group announced a sales increase of 11 percent on an organic basis for the first quarter. Revenues from Fashion & Leathergoods rose by 15 percent, topping analysts' estimates of an increase of 11 to 12 percent.The sales increases, which marked an ...
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Hermès posts a 34% Ebit margin
Hermès International has yet to publish its sales figures for the first quarter, but while expressing a cautious outlook for the balance of this year, the company's management confirmed that it had not seen any change in demand from Asian customers and other sales trends. It added that all its ...
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Foreign-owned luxury companies outperform Italian locals
Italian luxury goods firms controlled by large foreign groups, such as Kering and LVMH, have been performing significantly better than their peers regardless of the type of shareholder structure. The worst performing category were companies controlled by private equity firms, according to a survey carried out by PricewaterhouseCoopers.According to PwC, ...
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Prada and Tod’s disappoint, Ferragamo reassures the market
Prada and Tod's both released disappointing results for the past financial year, adding worryingly poor outlooks for 2019, while Salvatore Ferragamo reassured observers that its turnaround is bearing fruits thanks to a positive start to 2019.The Prada Group suffered a decrease in its gross profit margin to 72.0 percent in ...
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Big drop in the profitability of Tod’s
Tod's' full-year net profit slumped to €47.1 million in 2018 from €71.0 million a year earlier, while sales fell by 2.4 percent to €940.5 million, prompting the group to cut its dividend to €1.00 per share from €1.40.The Italian group posted Ebitda of €118.3 million for last year, down from ...
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Ferragamo may be turning the corner
Salvatore Ferragamo reported a 25.5 percent drop in its 2018 net profit excluding minority interests to €88.4 million and also cut its annual dividend to €0.34 per share from €0.38 a year earlier. As already reported (Shoe Intelligence Vol. 21 N° 3+4 of Feb. 9), the company's revenues for the ...
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Falc caters more to adults than before
Falc is launching a new label, Tu & Io by Naturino (You & I by Naturino), for children and their mothers. The company has launched a spring/summer 2019 collection of customizable children's shoes – largely sneakers – under its Naturino brand name and will be accompanying it in the next ...
