Latest Headlines – Page 171
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Yoox posts a double-digit sales increase
Yoox Net-a-Porter Group (YNAP) posted revenues of €897 million in the first half to June 30, representing a 15.8 percent increase on a constant currency basis, driven by a strong performance from the off-season sites Yoox.com and The Outnet. The increase was of 13.4 percent when adjusted for current exchange ...
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Arsutoria and Foto Shoe join forces
Two major Italian-based publishers in the footwear and leathergoods sectors, the Ars Arpel Group and the Foto Shoe Group, are forming a joint venture, called Edizioni AF, that will combine after Dec. 31 most of their trade magazines, books and services, which are largely complementary in terms of contents and ...
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Bru buys Hirica
Jean-François Bru, a footwear industry veteran who left the management of Groupe Royer a few months ago, has acquired 50 percent of the shares in Hirica, a profitable brand of comfortable women's pumps made in France, with big plans to build up the brand and boost its presence in foreign ...
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Ferragamo’s sales and margins are trending positive
Salvatore Ferragamo reported a 1.7 percent drop in its sales to €710.2 million for the first half of 2016, as second-quarter revenues followed the same trend seen in the first three months of the year. At constant currency rates, the top line fell by 3.1 percent. Revenues were affected by ...
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Prada falls sharply, may have touched bottom
The Prada Group has reported a serious drop of 24.7 percent to €141.9 million in its underlying net earnings for the first six months of its financial year, ended on July 31, as total revenues collapsed by 15 percent to €1,554 million, with a drop of 13 percent in constant ...
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Gucci shines
Gucci became the hottest luxury brand in the first half of this year, according to a study carried out by Exane BNP Paribas, measuring their editorial value, or the ratio between their spending on print advertising and the editorial coverage they receive in magazines. Its editorial value grew by more ...
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LVMH’s fashion segment stagnates
Performing a little better in the second quarter than the first one, the LVMH group grew by 4 percent to €17.2 billion in the first half of 2016, with a 3 percent increase on an organic basis, although the global luxury market rose by an estimated one percent. The growth ...
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Jimmy Choo’s growth boosted by China, men’s shoes
The U.K.-based luxury shoemaker saw strong growth in the six months ended June 30, 2016 - despite what it described as a difficult trading environment for luxury goods - thanks to increasing sales of men's styles and a strong performance in China. It posted revenues that were up by 9.2 ...
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Geox holds up sales but profit margins falls
Geox managed to bolster first-half sales through promotions and additional advertising, which put pressure on operating margins. The company suffered from a sharp slowdown in retail sales, with same-store sales up by 1.8 percent during the first six months compared with company expectations of a 5.0 percent rise.Comparable store sales ...
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Superga stops growing
BasicNet, the parent company of Kappa, K-Way, Superga and other brands, reported aggregate sales of €360.2 million for the first half ended June 30, down from €372.4 in the first half of last year. However, after several years of strong growth, Superga's revenues were down to €70.1 million as compared ...
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Steve Madden forms European joint venture
Steve Madden has confirmed the establishment of a new joint venture with SPM Shoe Trade to position the American brand for future growth in Europe. Madden was the biggest single client lately for SPM, a 25-year-old trading company based in the Netherlands with an annual turnover of around €60 million, ...
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Madden weighs new moves outside the U.S.
In reporting slow growth in its second quarter, Steve Madden said it continues to believe that the brand has tremendous growth potential in China and is currently evaluating alternatives for this business, including a change in the business model from a distribution arrangement to a joint venture structure.The company, whose ...
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Athleisure trend surprises Genesco
Genesco reported weaker-than-expected results for its second quarter, ended July 30, due to a sudden and strong shift to athleisure styles in its flagship Journeys division, which persisted in subsequent weeks, and to the effect of the British pound's depreciation on its Schuh retail chain in the U.K. following the ...
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Shoe Carnival’s performance weakens
Shoe Carnival posted profits and revenues for the quarter ended July 30, 2016 that came short of Wall Street's expectations, with sales increasing by just 1.7 percent over the year-ago quarter to $231.9 million. Comparative store sales increased by half a percent. Net income for the quarter was down by ...
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Caleres’ profits rise, but short of forecasts
Caleres posted earnings that jumped by 17.5 percent to $19.8 million in the quarter to July 30, 2016, or by 46 cents a share. Analysts surveyed by Thomson Reuters expected second-quarter earnings per share of 50 cents. The parent company of Famous Footwear and various footwear brands, previously called Brown ...
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DSW bets on sports-inspired casual shoes
DSW reported a 33.4 percent drop in net income to $25 million for the quarter ended July 30, but adjusted earnings of $0.35 per share were slightly above Wall Street expectations. Sales increased by 5.1 percent to $659 million, including $19.6 million from Ebuys, which DSW acquired at the start ...
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Bogs’ sales tumble, Florsheim expands outside the U.S.
Weyco Group saw revenues from its Bogs footwear brand plummet by 47.0 percent in the second quarter. This comes after two consecutive quarters of weak results for the brand of boots - with sales down by 17.0 percent in the first quarter of 2016 and by 22.0 percent in the ...
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Wolverine falls less than expected
Wolverine Worldwide reported a 5 percent drop in its net income to $24.0 million for its second quarter, ended June 18, as its sales fell for the fourth quarter in a row, down by 7.4 percent to $583.7 million in dollars and by 5.2 percent on an underlying, currency-neutral basis. ...
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Crocs sells more but falls short of guidance
Crocs posted revenues for the second quarter that came up short of its own guidance for sales in the range of $340 million to $350 million. They dipped by 6.3 percent over the year-ago quarter to $323.8 million, or by 6.2 percent on a constant-currency basis.The company blamed the challenging ...
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Deckers falls less than expected
Deckers Brands posted a lower-than-expected net loss of $58.9 million in the seasonally weak first quarter of its financial year, ended June 30, although it remained higher than the $47.3 million loss recorded in the year-ago period. The gross margin rose to 43.7 percent from 40.5 percent in the same ...
