Latest Headlines – Page 168
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Better margins for Yue Yuen on flat sales
The world's largest shoe manufacturer reported a meager 0.3 percent increase in total revenues to $6.29 billion for the nine months to Sept. 30, with a drop of 10.6 percent in sales of casual and outdoor shoes offset by increases of 2.2 percent in athletic footwear and 5.9 percent in ...
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Stella focuses on “athleisure” to counter falling sales
Stella International saw revenues for the nine months ended Sept. 30 tumble by 12.7 percent over the year-ago period to $1,192.8 million. While its retail business in China began to recover in the third quarter, rising to the equivalent of $16.1 million, revenues from manufacturing declined by 18.3 percent to ...
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Possible turnaround in Brazil’s shoe exports
Recovering from the downward trend of the last few years, Brazilian footwear exports went up by 18.2 percent to $84.3 million during the month of October as compared to the same month of 2015. They also increased by 1.2 percent in volume to 10.2 million pairs, due to a decline ...
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Big drops in Alpargatas’ sports business
The continued economic problems in Brazil helped Alpargatas to sell more of its cheap rubber sandals under the Havaianas and Dupé brands in its domestic market in the third quarter. Volumes increased by 0.8 percent to 57.0 million pairs. Sales of other products under the Havaianas brand name grew by ...
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Eno Polo moves from Alpargatas to GBG
Eno Polo, the 49-year-old president of Alpargatas EMEA, has left the Brazilian company to run a new European subsidiary of Global Brands Group (GBG), the New York-based company that started in 2005 as the wholesale business of Li & Fung and was spun off more than four years ago to ...
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Vulcabras’ divorce from Reebok pays off for the couple
Vulcabras Azaleia, the Brazilian parent of Azaleia and Olympikus that held the distribution rights for Reebok until the end of last year, has reported a net profit of 19.7 million reais (€5.36m-$5.71m) for the third quarter ended Sept. 30, compared with only R$2 million in the year-ago period.Sales increased by ...
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More funding for Hickies
Hickies says it raised $10 million in the latest round of financing from Sforza Holdings and two other investors, taking the total funding for the development of its smart shoe lacing system up to $16 million. One of the top three global footwear brands, whose name was not revealed, made ...
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India’s currency reshuffle hits local leather businesses
The leather and footwear businesses in India were among the first to bear the brunt of the government's decision in November to discontinue its biggest denomination currency notes overnight in a move that it says will curb corruption and black money. In a surprise announcement on Nov. 8, Prime Minister Narendra ...
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Genesco beats profit forecasts
The net earnings reported by Genesco for the third quarter ended Oct. 29 topped analysts' estimates, reaching $25.9 million - or $1.30 per share - while Wall Street was expecting earnings of 91 cents per share. The better-than-expected results sent the group's share price up by almost 5.0 percent to ...
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Caleres improves sales and margins
Caleres posted strong results for the quarter ended Oct. 31, 2016, with improvements to revenues, margins and earnings. The parent company of Famous Footwear and various footwear brands, previously called Brown Shoe Co., saw sales increase by 0.5 percent to $732.2 million over the year-ago quarter, or by 2.1 percent ...
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DSW reverses decline in profitability
DSW's adjusted net income went up by 16.0 percent to $41.7 million in the quarter to Oct. 31, as higher margins helped offset a slight decline in same-store sales. This marks the company's return to year-on-year earnings growth, after four consecutive quarters of declines.The U.S. footwear retailer said that tighter ...
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Shoe Carnival's profits fall below expectations
The American shoe retailer posted results for the quarter ended Oct. 31 that came short of Wall Street's expectations, with sales inching up by just 1.8 percent over the year-ago quarter to $274.5 million, while comparable-store sales decreased by 0.4 percent. The main reason for the lower turnover was a ...
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Boot Barn swings back to profit in Q2
Western boots are apparently escaping the downturn in boot sales in the U.S. Boot Barn's second quarter earnings swung back into the black as the American retailer specializing in western boots posted profits of $479,000 in the three months to Sept. 24, rebounding from a loss of $3.3 million in ...
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Birkenstock diversifies
Birkenstock aims to enter new product segments. Birkenstock will present a line of high-quality sleeping systems, including mattresses and slatted frames at the International Furniture Fair in Cologne on Jan. 6-21, developed in partnership with a specialist in this sector, ADA, and manufactured in Austria. They will be delivered to ...
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Third CEO for Vivarte in a year
New and more severe restructuring measures are expected at Vivarte following the appointment of Patrick Puy as the new chief executive of the group, which is one of the two leading players in the French shoe retail market, along with Eram. It owns 14 different chains selling shoes or clothing ...
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Clarks reports a first-half loss
Clarks' turnover increased by 4.2 percent to £739 million (€858.4m-$924.8m) in the six months ended July 31, but it would have declined by 0.5 percent if the U.S. dollar and other currencies had remained the same. The brand's new Trigenic range sold well, but a large part of the revenues ...
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Rohde files for bankruptcy
Erich Rohde, the comfort shoe specialist from Germany, filed for insolvency at the court of Marburg on Oct. 28. The company said it was saddled with enormous financial burdens and was not able to handle them, in spite of stable sales in the main markets of Germany, Austria, the Netherlands, ...
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Trump’s victory pleases some shoemakers
Gimmi Baldinini, head of the eponymous Italian shoe firm, told journalists earlier this week that he had opened a bottle of champagne after Donald Trump's unexpected victory in the U.S. presidential elections.Like many other shoe manufacturers in the Marche region of Italy, Baldinini depends a lot on exports to Russia, ...
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Zalando’s margins beat forecasts
Beating forecasts, Zalando reported higher profits for the third quarter ended Sept. 30, thanks to higher efficiencies in inventory management and other processes, although the growth of its turnover slowed down to 17.1 percent year-on-year from the 25 percent rate enjoyed in the previous quarter. It generated an adjusted Ebit ...
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The German trade show race goes on
Two relatively big players in the German shoe market, Gabor and the Astormüller Group, which markets the Bugatti and Daniel Hechter lines of footwear, have announced that they will not participate in the Feb. 7-9, 2017, edition of the GDS shoe show in Düsseldorf. Gabor, which has been investing in ...
