Latest Headlines – Page 161
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Kering outperforms
Kering's revenues from continuing operations jumped by 31.2 percent to €3,573.5 million in the first quarter of this year, with the luxury goods division progressing by 34.0 percent to €2,417.1 million and the smaller sport & lifestyle division growing by 16.5 percent to $1,064.1 million. On a comparable basis, the ...
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China helps Hermès to reach double-digit growth
Hermès International posted a strong and unexpected 13.5 percent increase in revenues during the first quarter of 2017. On a currency-neutral basis, they grew by 11.2 percent, driven by a significant 16 percent increase in Greater China and other parts of Asia excluding Japan. Analysts had projected a rise of ...
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Q1 sales slump at Tod’s due to wholesale
Tod's posted a disappointing 4.4 percent drop in first-quarter revenues to €238.5 million, largely due to a sharp decline in the wholesale division as the company decided to shun clients that might default on payments. At constant currency rates, the top line dropped by 5.0 percent The company warned that, ...
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Hamm opens shoe concessions at C&A
The Hamm Reno Group, the German-based retailer and wholesaler otherwise known as the HR Group, has struck a strategic agreement with C&A, the international chain of affordable apparel stores. It will set up and supply dedicated shoe departments in 233 C&A stores in Germany and 59 others in Austria, Belgium, ...
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Vivarte sells Pataugas
The French retail group has announced the sale of yet another one of its assets, the Pataugas brand of footwear, as part of its reorganization and its concentration on fewer shoe retail chains. It has sold the brand to Start'Hopps, the fashion division of the Hopps Group, whose core business ...
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Geox’ Q1 sales are lifted by wholesale
Geox posted a small 1.2 percent increase in first-quarter sales to €297.9 million, driven by higher wholesale revenues. At constant currency rates, the top line grew by 0.1 percent. The company confirmed its forecast of improved sales and profitability in the full year.Overall footwear sales increased by 0.8 percent to ...
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Geox launches the X-Store concept
Geox has unveiled its latest store concept aimed at combining style, innovation, sustainability and well-being. The X-Store concept, in which the company is reportedly investing €15 million, uses only green materials, ranging from terracotta to natural wood. All materials are compliant with LEED (Leadership in Energy and Environmental Design) Certification.The ...
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Gallery Shoes takes shape
About 400 brands had confirmed their participation in the new German trade show by the beginning of May, with bookings for all its five segments. The management of Gallery Shoes, as the new fair is called, is pleased about the progress toward its goal of hosting 500 international labels at ...
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France cuts trade deficit
The French shoe industry raised its sales abroad by 8 percent to €2.77 billion in 2016, with the number of pairs exported going up by one percent to 106 million pairs, according to the French Shoe Industry Association (FCC).Exports went up in all the five major European markets for French ...
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Deckers explores a possible sale
Bowing to pressure from some of its shareholders, the board of directors of Deckers Brands announced that it was exploring strategic alternatives, including a possible sale of the company. It has retained Moelis & Company as financial advisor and a legal counsel to assist in the process.The announcement was made ...
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Bearpaw is targeting the European market
Another American brand of cold-weather, waterproof sheepskin boots, Bearpaw, is trying to take advantage of Ugg's weakness to expand its position as a lower-priced alternative in all the sales channels. Claiming that its shoes are of comparable quality or better for a lower price and better margins, it is making ...
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Another alternative to Ugg, called Mou
Mou is a French word that means “soft.” It is the name of a brand of comfortable, warm, eco-responsible sheepskin boots marketed worldwide by a company in Florence, Artcrafts International, that owns and distributes eight other brands. It doesn't distribute Ugg, but it has been the Italian distributor for another ...
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VF relies on European talent for the U.S.
VF Corp. is reacting to a slowdown in the sales of The North Face and Timberland in North America by giving more responsibilities to two European managers, considering that both brands have been performing better in Europe lately.Arne Arens, the former executive of Nike Europe who had run TNF's operations ...
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Merrell is gaining momentum
Wolverine Worldwide reported better-than-expected sales and profits for the first quarter ended April 1, due in part to an accelerated program of store closures and the liquidation of $20 million worth of related inventories. Besides 104 underperforming stores shut down during the quarter, an additional 76 stores were closed in ...
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Crocs’ shares soar as quarterly results beat forecasts
Crocs' stock price rose by 17 percent after it announced better-than-expected sales for the first quarter of the year. Revenues were down by 4.0 percent from the year-ago quarter to $267.9 million, or by 4.4 percent on a constant-currency basis. Wall Street expected revenues of $258 million. The decline came ...
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Bogs weighs down on Weyco’s results
Weyco Group posted another disappointing quarter, as sales of its Bogs brand of boots continued to decline. Group revenues tumbled by 12.0 percent over the year-ago quarter to $69.1 million. However, it managed to improve the gross margin by cutting costs. The company said that the retail environment continues to ...
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Private equity firms offer to take Belle International private
Belle International, the Chinese retailer operating more than 20,700 sports and footwear stores, has received a privatization offer worth about $6.8 billion from a consortium led by two private equity firms, Hillhouse Capital Group and CDH Investments, and two of the group's executive directors.Belle is a most influential retail partner ...
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Belle’s sports retail business thrives
Belle International suffered a substantial decline in profits for the fiscal year to the end of February but this was chiefly due to sharp declines in sales and margins for its footwear business, while its sports business was on the rise.The group's sales moved up by 2.2 percent to 41.7 ...
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Yue Yuen is more profitable
Net income attributable to its shareholders increased by 30.6 percent to $124.5 million for Yue Yuen Industrial Holdings in the first quarter ended March 31. Even after excluding non-recurring items, it went up by 29.5 percent to $105.3 million.The group's total revenues rose by 3.6 percent to $2,100.8 million, with ...
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Netshoes grows by 18.1%
The leading e-commerce player in Latin America, which went public on the New York Stock Exchange on April 12, announced an 18.1 percent increase in sales on a currency-neutral basis for the first quarter of 2017, with growth of 17.2 percent in the domestic Brazilian market and 23.8 percent in ...
