Latest Headlines – Page 163
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Rocky Brands goes back to profitability
Rocky Brands had a good start in 2017, posting a net income of $1.5 million in the first quarter as compared to a net loss of $0.2 million in the year-ago quarter. Meanwhile, revenues increased by 9.6 percent to $57.5 million.The company attributed this performance to strong military segment sales, ...
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Shoe Carnival posts loss due to impairment charges
The American shoe retail chain recorded a loss of $0.9 million in the fourth quarter ended Jan. 28 because of non-cash impairment charges of $3.6 million for the closure of seven stores in Puerto Rico. Excluding the charge, the company would have recorded net income of $1.3 million, topping Wall ...
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Yue Yuen’s net profit jumps by 37%
Yue Yuen Industrial posted strong results for 2016, with profit attributable to owners of the company increasing by 37.0 percent to $534.6 million. Adjusted to eliminate non-recurring items, net earnings went up by 29.5 percent to $525.1 million for the year.The group said it has been putting more strategic emphasis ...
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Netshoes goes public to help develop new categories
Netshoes, the leading online sports retailer in Latin America, closed an initial public offering (IPO) on the New York Stock Exchange that started last week and raised net proceeds of $138.8 million.The IPO is meant to provide additional capital to support Netshoes' development. The company wants to become the leading ...
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Pittards posts lower revenues and a loss, but margins improve
Pittards posted revenues of £27 million (€31.5m-$33.6m) for the year to Dec. 31, 2016, down from £30.5 million (€35.6m-$38.0m) in the previous year. The British maker of gloving, footwear and fashion leather also registered a loss before tax of £4.1 million (€4.8m-$5.1m) for the full year, as compared to a pre-tax profit ...
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Vivarte has apparently been salvaged
A spokesman for the French footwear and apparel retailing group confirms a report in the French financial daily Les Echos that all the 172 lenders who are being owed a total of €846 million on their long-standing loans have agreed to convert them into shares. They have also agreed to ...
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Deichmann invests more abroad
Deichmann has budgeted investments of €232 million for this year to support its strong international momentum, including an expenditure of €92 million in the domestic German market. The leading European shoe retailing group plans to open a total of 262 new physical stores globally, while closing 114 units and modernizing ...
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CCC grows fast, re-evaluating its priorities
CCC Shoes & Bags announced an impressive increase in net earnings of 81 percent to 190.4 million zlotys (€44.4m-$47.8m) for the fourth quarter of 2016, as its net revenues grew year-on-year by 49.9 percent to 1,132.6 million PLN (€264.2m-$284.0m) and the operating profit went up by 84.4 percent to 218.1 ...
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Zalando buys a chain of sneaker stores
Zalando has announced the acquisition of Kickz, a German chain of streetwear and sneaker shops, for an undisclosed amount. The big European e-tailer said the acquisition is to further strengthen its position in the sports and lifestyle segment, especially in the basketball category. It will also allow Zalando to address ...
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Zalando reaches an Ebit margin of 5.9%
Zalando has reported an increase in net income of 121.5 percent to €60.0 million for the past year. Operating earnings (Ebit) grew by 131 percent to €207 million. Excluding extraordinary items, they rose by 101 percent to €216.3 million, resulting in an adjusted Ebit margin of 5.9 percent for the ...
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New international online platform for Spanish shoes
The Spanish footwear industry association (Fice) is launching the project for a new online platform, called the Shoes from Spain B2B Marketplace, that is intended to help its members to reach out to new multi-brand retailers in Spain and in other countries, allowing them to process forward orders and reorders ...
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ANWR offers new digital services after a tough year
ANWR Schuh, Germany's largest cooperative of independent shoe retailers, has reported a decline of 3.4 percent in its centralized settlements to €816 million in 2016 due to lower orders by the affiliated retailers. The latter saw their own turnover sink by 1.8 percent, roughly in line with the market situation, ...
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ANWR and Sabu launch electronic invoicing
ANWR and Sabu, the two biggest voluntary groups of independent shoe retailers in Germany, are going to offer their members a standardized electronic invoicing system for their centralized settlements from January 2018. The system, developed and operated by RAW Rechen-Anlage West, will reduce the use of paper, manual work and ...
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Schuhe24 helps German retailers to win new customers
The company is launching a test this month that will help shoe retailers to win new customers through specially developed shopping apps and beacons in their stores. Smartphone users are led to take advantage of promotions when they pass by the stores. They get information about the products offered, and ...
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Condor Trade acquires Rohde
The receivers of Eric Rohde have announced the sale of the famous German shoe company to the Italian-based Condor Trade Group, which owns the well-know Inblu brand of shoes among other operations. Condor Trade has agreed to buy only some assets, but not the debt of the company, which will ...
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TheMicam enters a new dimension
With its revamped layout and the support of some top Italian luxury brands, theMicam continued its progress last month. Building on increases in attendance of 1.8 percent a year ago and 5.2 percent last September, the world's largest footwear trade fair reported a 5 percent increase in the total number ...
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Contrasting trends in European exports, imports decline
The Italian footwear industry is performing in different ways in different markets. As previously reported, its exports grew by only 2.6 percent in value in the first ten months of last year, reaching a level of €7.52 billion, but this was due primarily to an increase of 3.7 percent in ...
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Andreas Wortmann quits Ecco
Andreas Wortmann, one of the four members of Ecco's executive board, has handed in his resignation after 15 years in top management positions. Citing personal considerations, the 51-year-old executive is leaving the big Danish shoe company to join his wife in Hamburg to look at other options, but he told ...
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Geox’ sales are dragged down by its stores
Geox posted a 2.4 percent decrease in fourth-quarter sales to €161.5 million, driven by a 3.2 percent drop on a comparable store basis. The company said it suffered a reduction in store traffic, which was partially offset by a “significant” improvement in the conversion rate. To tackle the difficult market ...
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Big moves at Crocs
Andrew Rees, who became president of Crocs two years ago, will replace Gregg Ribatt as chief executive on June 1, consolidating the two functions. Ribatt, who will remain on the board of directors, said the company was ready for the change after the progress it had made in 2016 in ...
