Latest Headlines – Page 162
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Alpargatas’ sales decline by 19%
Shares in the Brazilian footwear company fell by 7.0 percent after it announced that its sales in Brazil had fallen by 16.8 percent to 466.1 million reais (€135.7m-$149.8m) in the first quarter. Alpargatas' global revenues, which stem mainly from its Havaianas brand of sandals and a license with Mizuno, were ...
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Grendene sees strong domestic growth
Grendene posted a strong first quarter, with sales up by 9.6 percent over the year-ago quarter to 621 million Brazilian reais (€180.1m-$196.1m). The Brazilian group said that even though there was an easy comparison base with the year-ago quarter, the increase in revenues reflects some improvement in demand in the ...
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Vulcabras continues to improve
Vulcabras Azaleia, the Brazilian company that owns the Olympikus brand of sporting goods and three brands of women's shoes, Azaleia, Dijean and Opanka, reported higher sales and profits for the first quarter to March 31, confirming its turnaround.The company's sales grew by 17.7 percent to 295.9 million reais (€85.4m-$95.2m) in the ...
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New eco-friendly footwear brand to be launched on Kickstarter
Saola, a new brand of eco-friendly footwear committed to environmental conservation, will get a pre-launch on Kickstarter on May 23 in order to collect funds for its development. The company hopes to raise $25,000 to help finance the first round of production of its sustainable shoes, which are going to ...
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Drapers hands out its annual Footwear Awards
Clarks picked up multiple awards at this year's Drapers Awards, and was honored for consumer choice, best kidswear brand and store manager of the year. The ceremony for the annual Drapers Awards was held at Grosvenor House in London on May 17. Schuh was selected as multiple footwear retailer of ...
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Bally and Jimmy Choo are up for sale
Johann A. Benckiser (JAB) wants to put an end to its involvement in luxury shoes and accessories to concentrate on its core food and beverage operations, where it has made several important acquisitions lately, and other holdings such as Coty. The group's JAB Luxury unit, which also owns Belstaff, is ...
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Alteri sheds Jones Bootmaker and Brantano
Endless has acquired the business and assets of Jones the Bootmaker (Jones) from Alteri Investors for around £10.5 million (€12.6m-$13.5m). Almost simultaneously, Brantano UK, another property of Alteri, has filed for bankruptcy, protecting it from creditors after its failure to find a new investor. The two British shoe retail chains ...
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Clarks adapts to a disruptive world
Clarks reported a 7.9 percent increase in consolidated sales for the financial year ended last Jan. 31, but this was largely due to the depreciation of the pound sterling against the U.S. dollar in view of the company's strong position in the U.S. market. On a constant-currency basis, sales were ...
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Lower sales and margins at Ecco
Ecco's revenues and net earnings decline in 2016 for the first time in five years. The company's turnover was down by 0.4 percent at €1,250.9 million, but the management claimed market share increases in many markets. On a currency-neutral basis, sales of footwear and accessories were up by 2.0 percent, ...
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Prada is turning around, goes digital, after a poor year
The Italian fashion group's net profit for the year ended Jan. 31 fell to its lowest level since the company's initial public offering on the Hong Kong Stock Exchange in 2011. The bottom line stood at €278.3 million, down from €330.9 million a year earlier and short of analysts' expectations ...
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Cheaney continues its transformation
Joseph Cheaney & Sons has come a long way since its takeover in 2009 by Jonathan Church, the former finance director of Church's, and his cousin William Church, who are now 55 and 50 years old, respectively. The two distant cousins, who belong to the fourth generation of the Church ...
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LVMH reports strong double-digit growth
Shares in LVMH jumped by 2.9 percent to a record high of €213.50 after the French luxury group beat sales forecasts for the first quarter of its new financial year.However, LVMH warned that its strong first-quarter performance may not be sustainable, saying it benefited from a favorable comparison base, particularly ...
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Bernard Arnault wants all of Christian Dior
The Christian Dior Group owns the Christian Dior brand directly, excluding its fragrances, through a subsidiary called Christian Dior Couture, and it has a stake of 40.9 percent in LVMH. This is because the family of Bernard Arnault, chairman and chief executive of LVMH, had first taken over Dior as ...
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Hermès posts a record profit margin
Hermès International reported a record operating profit margin of 32 percent of sales for 2016 as its consolidated revenues of €5.2 billion were up by 7.5 percent increase at current exchange rates and 7.4 percent at constant exchange rates,. Net profit increased by 13 percent to €1.1 billion.The French luxury ...
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Le Soulier Français to raise up to €3m
Le Soulier Français, a small French company in Romans that specializes in the manufacture of high-end women's dress shoes, claiming a particularly strong know-how in the area of hand-woven and Louis XV stiletto shoes, is raising between two and three million euros from three investment funds to spur its development. ...
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The Italian fashion industry forms an umbrella association
After two years of preparation, the Italian fashion industry has given birth to a common umbrella association for its apparel, footwear and accessories segments, called Confindustria Moda. The new confederation will be positioned above Sistema Moda Italia, which groups textile and apparel firms, and Fiamp (Federazione Italiana dell'Accessorio Moda e ...
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Portuguese shoe exports continue to increase
The volume of shoes exported from Portugal grew by 2.8 percent to 81.6 million pairs in 2016, representing a seventh consecutive annual increase, says Apiccaps, the country's shoe and leathergoods industry association. In terms of value, last year's shoe exports rose by 3.2 percent to a record of €1,923 million.Apicapps ...
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Payless ShoeSource will shut down hundreds of stores
Payless ShoeSource filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Missouri on April 4. The discount-oriented shoe retailer, based in Topeka, Kansas, has announced that it will be immediately shutting down nearly 400 stores in the U.S. and Puerto Rico. In addition, ...
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Steve Madden’s sales jump by 11%
Steve Madden's revenues for the three months to March 31 jumped by 11.2 percent over the same quarter last year to $336.4 million, boosted by strong sales in the women's wholesale footwear division and its new joint venture in Europe.Revenues in the wholesale business soared by 13.6 percent to $313.3 ...
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Skechers’ revenues pass the $1 billion mark
Skechers USA posted strong results for the first three months of the year, thanks to double-digit growth in its international business. Its total sales hit a new quarterly record of $1,073 million, which represents an increase of 9.6 percent over the first quarter of 2016. Its net earnings dipped by ...
