Latest Headlines – Page 157
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DSW’s shares rocket on strong sales
DSW's share value jumped by 18.4 percent after the American shoe retail chain posted earnings for the second quarter that largely exceeded Wall Street estimates. Its net income rose by 14.4 percent over the year-ago quarter to $28.6 million, after pre-tax charges totalling $3.2 million related to the acquisition of ...
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Shoe Carnival raises outlook after better-than-expected results
After a difficult start to its fiscal year, when sales tumbled by more than 23 percent in the first quarter, Shoe Carnival enjoyed a better second quarter, which sent its shares up by 13 percent. In the three months ended July 29, the American shoe retailer's sales were up by ...
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Phoenix Footwear narrows its net loss
Phoenix Footwear, the American company specializing in comfort women's and men's footwear, reported a net loss of $612,000 for the first six months ended July 1. The company, which owns Softwalk and Trotters, narrowed its net loss from $737,000 for the first six months of 2016. The loss before interest, ...
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Alibaba will have its shopping mall
Paying homage to the growing hybrid online-offline retail trend, the Alibaba Group disclosed plans to set up its own shopping center on the east side of the big Chinese city of Hangzhou, where it has its own world headquarters.The More Mall, as it will be called, will feature the physical ...
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Privatized, Belle will tackle its non-athletic footwear business
Belle International Holdings, the big Chinese retailer which operates more than 20,000 footwear and sports stores, was delisted from the Hong Kong stock exchange on July 27, after a privatization process that turned Hillhouse Capital Group into the company's majority shareholder.Belle had been listed for about a decade but a ...
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Athleisure helps Stella pull off strong results
Stella International saw revenues for the six months to June 30 advance by 5.7 percent to $762.4 million. Volumes also rose, with 27 million pairs of shoes shipped - an increase of 6.3 percent over the year-ago period.The company attributed this performance to increasing demand for “fashion athletic products” and ...
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Olympikus drives Vulcabras’ improved results
Vulcabras, the Brazilian company that owns the Azaleia and Dijian brands of women's footwear as well as the Olympikus brand of sports shoes, continued to improve its results in the second quarter ended June 30, with a big jump in the net profit to 77.6 million reais (€20.7m-$24.7m) from R$2.3 ...
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World footwear production stagnates
The world footwear market has evidently entered a phase of more intense competition on a global scale, especially within Asia. The figures contained in the latest edition of the World Footwear Yearbook, which has just come out, confirm that stability has become “the new normal,” as the management of Wolverine ...
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ANWR opens up its fairs to non-members, changes order rhythm
Following Sabu's lead, the ANWR Group has decided to open its own house fairs to all kinds of retailers from the shoe and apparel sector, at a new event next February, called Campus Starter, that will fill the former time slot of the now defunct GDS. In this way, the ...
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Michael Kors pays a big price for Jimmy Choo
The Reimann family is going to pocket a big capital gain with the sale of Jimmy Choo to Michael Kors by its JAB Luxury subsidiary, which owns 68 percent of its shares. It is said to be still contemplating the sale of its other big asset in the sector, Bally, ...
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Aldo buys Camuto Group
Aldo, the privately held Canadian shoe company, has announced that it is taking over the footwear and accessories businesses of the Camuto Group. The price of the transaction has not been disclosed.The takeover by Aldo of Camuto, the company founded by Vince Camuto, the visionary American shoe designer and sourcing ...
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Wolverine sells Sebago to BasicNet
BasicNet, the Italian-based licensing company that owns Briko, Kappa, Robe di Kappa, K-Way, Superga and other brands, has agreed to acquire the intellectual property rights and other assets of Sebago from Wolverine Worldwide.The asset deal has been valued at €14.2 million, excluding acquisition costs. To help finance it, BasicNet has ...
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Wolverine beats forecasts, raises outlook
Wolverine Worldwide has reported net income of $20.7 million for the 13 weeks to July 1 as compared to $24.0 million in the 12 weeks ended on June 16 last year. The extra week, added through a change in the financial calendar, helped the group to improve total revenues by ...
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BasicNet grows nicely, except in Italy
The parent company of Briko, Kappa, Robe di Kappa, K-Way, Superga and other brands has reported an increase of 3.5 percent in total wholesale-equivalent sales to €372.9 million for the first six months of this year, driven by a 6.2 percent increase to €207.4 million in its foreign licensees' sales. ...
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Kering booms
Some of the big multi-brand luxury groups, which are covering multiple product categories, are registering sharply higher increases in revenues than independent footwear specialists operating in the same market segment like Tod's and Salvatore Ferragamo.In general, they are benefiting from a recovery of the market in China since the end ...
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LVMH grows by 15%
The world's largest luxury goods group posted a 15 percent increase in sales to €19.7 billion for the second quarter as well as the first half of this year, including organic growth of 12 percent. Here also, the management cautioned that the trend cannot be extrapolated for the whole year, ...
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Hermès’ growth slows down a little
While Kering performed about as well in the second quarter than in the first one, Hermès saw its growth slow down to 8.3 percent in the second quarter on a comparable basis from the 11.2 percent increase of the first quarter, reaching a level of €1.36 billion. Overall, the company's ...
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Ferragamo’s sales rise slightly
Salvatore Ferragamo reported a 1.1 percent year-on-year increase in first-half sales to €717.9 million, while constant-currency revenues were virtually flat, up by 0.1 percent. The top line was driven by the retail business, while wholesale revenues were negatively affected by the disposal of excess inventories, the weakness of the U.S. ...
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Tod’s sales recover slightly
Tod's posted second-quarter sales of €244.5 million, down by 1.4 percent year-on-year but improving from the 4.4 percent decline booked in the first quarter. For the first half, sales were still off by 2.9 percent to €483.0 million, in line with market expectations, with a drop of 3.2 percent at ...
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Flat sales for Geox but strong boost in profits
Geox' made little progress in the first half, missing market expectations for sales by about €2.5 million, but the company managed to significantly boost its operating margins thanks to tight controls on general and administrative (G&A) costs, with advertising and promotion (A&P) expenses cut in half. Improved margins enabled the ...
