Latest Headlines – Page 138
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Pou Sheng boosts Yue Yuen’s results
Revenues from manufacturing activities declined by 2.8 percent to $3,930 million in the first nine months of this year for the world's largest shoe producer. The volume of shoes it made by Yue Yuen Industrial during the period dropped by 0.9 percent to 236.5 million pairs and their average selling ...
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Mixed quarterly results for Alpargatas
Alpargatas' consolidated net earnings jumped by 71.3 percent to 119.8 million reais (€27.6m-$31.3m) in the third quarter ended on Sept. 30, but this was partly due to non-recurring items. Excluding them, the Brazilian group's Ebitda margin fell by 1.3 percentage points to 12.3 percent on 2.2 percent lower revenues of R$ ...
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Lower results for Vulcabras
After recording improved results for several quarters, the parent company of Olympikus and Azaleia reported lower sales and profits for its third quarter, just as it is gearing up to take over the distribution of Under Armour in Brazil, producing some of its shoes locally.In contrast with an apparent end ...
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Strategic partnership between CCC and the Hamm-Reno Group
CCC Shoes & Bags, the fast-growing Polish-based shoe retail chain, and the German-based Hamm-Reno Group announced their signature on Nov. 24 of a wide-reaching strategic agreement that could end up with CCC obtaining control of the HR Group at a later stage. The deal is subject to several conditions including ...
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Vivarte sells its remaining shoe retail chains
After the disposal this year of its André and Besson chains of shoe stores and the Naf Naf brand of women's clothing, which we have already reported, the French Vivarte group announced on Nov. 5 that it will be selling its three remaining shoe retail banners – Minelli, San Marina ...
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The casual footwear market speeds up
Like the athletic brands, the more casual footwear brands enjoyed stronger growth in 2017 than they had done in the previous year, boosted by increased demand for comfort and good looks. According to our annual study of the segment, the casual branded shoe market enjoyed a sales increase of 7.2 ...
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Clarks performs well only in Asia
Clarks has decided to invest in a European distribution center within the European Union to protect the company from any future duties and tariff regimes following the U.K.'s planned exit from the European Union.Also, because of the trade tensions between the U.S. and China, the British company has stepped up ...
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Changing roles at Clarks
As previously reported, Clarks parted ways with its former chief executive, Mike Shearwood, as of June 25 because of repeated instances of inappropriate behavior. He was immediately replaced by Stella David, who has been a member of the board for six years, pending the recruitment of a new CEO. She ...
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Geox releases disappointing Q3 results
Geox has announced disappointing third-quarter results and an unconvincing business plan for the three years to 2021, prompting a massive stock market sell-off that has driven the company's share price to record low levels.The top line declined by 8.2 percent to €672.4 million in the first nine months, missing market ...
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Geox hopes to reach sales of €1 billion
Geox sees 2021 sales rising to €950-1,000 million by 2021 under a revised three-year business plan, representing an average annual increase of 6.5 percent. Footwear and apparel would grow at similar paces.Under the plan, sales would increase at an average annual rate of 5 percent a year in Italy to ...
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Dr. Martens continues to make big strides
Sales increased by 20 percent to £348.6 million (€394.3m-$447.4m) at Dr. Martens during the financial year ended on March 31. Ebitda went up at an even stronger rate of 33 percent, raising the Ebitda margin by 1.4 percentage points to 14.3 percent.Much of the sales growth came from the opening of ...
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Wolverine rides higher
The divestiture of Sebago and the military business caused a 3.9 percent decline in sales at Wolverine Worldwide, down to $558.6 million, in its third quarter ended Sept. 29. On a comparable basis, sales inched up by 0.5 percent, but they were up by 1.5 percent excluding the leather business ...
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Crocs makes a surprising profit
After reporting better-than-expected earnings for the third quarter, led by strong demand for its clogs and sandals, Crocs has raised its guidance for the full year. The company's shares boomed after the announcement, rising by more than 9 percent.Net income rocketed from $1.6 million in the third quarter of 2017 ...
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Steve Madden’s sales are lifted by Anne Klein
Thanks to robust growth in its core Steve Madden Women's wholesale business, the Steve Madden group once again posted upbeat results in the third quarter. The wholesale accessories business was the standout, with sales increasing by nearly 20 percent on the back of a robust increase in Steve Madden handbags ...
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Florsheim is a star at Weyco Group
After a strong second quarter that saw a return to growth after many months of decline, Bogs posted lower sales for the third quarter. The brand's revenues for the three months to Sept. 30 fell by 5 percent from the year-ago quarter.The brand's parent company, the Weyco Group, said that ...
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Deckers raises guidance as earnings rocket
Thanks to continued profitability gains by Ugg and top-line growth by Hoka One One, Deckers Brands raised its guidance for the full year through next March, budgeting higher earnings on sales that should reach a range of $1,935 million to $1,960 million.The group's net earnings for its second fiscal quarter ...
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Sitoy buys A.Testoni
A Chinese leathergoods group, Sitoy, is celebrating its 50th anniversary with the acquisition of an Italian high-end brand of men's and women's shoes, A.Testoni, from the founding family. No financial details were available.The move follows bigger transactions that have come from the Far East recently, such as the acquisition of ...
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The personal luxury goods market should grow by 5% in 2019, with shoes up by 7%
The global market for personal luxury goods is expected to continue to grow at a slightly reduced rate of 5 percent in 2019, according to the Altagamma Consensus 2019. Footwear and accessories are expected to go up by 7 percent, followed by a 5 percent increase for perfumes and cosmetics, while ...
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Hermès and Kering continue to do well in Asia and generally
Like LVMH, whose third-quarter results were reported in our previous issue, both Hermès and Kering continued to perform well in the Chinese market and with Chinese tourists abroad during the period. Hermès launched its e-commerce operations in China last month.In terms of local currencies, Hermès' total revenues grew by 9.7 ...
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Richemont teams up with Alibaba, Kering goes solo
Richemont, which recently acquired Yoox Net-A-Porter (YNAP), has signed a joint venture with Alibaba to offer luxury brands on a new e-commerce website of Alibaba, the Tmall Luxury Pavilion. Mobile apps will be launched in China for YNAP's Mr. Porter and Net-A-Porter websites with Alibaba's technology, logistics, payment and marketing ...
