Latest Headlines – Page 174
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India stimulates technology and design
The leather sector is one of the 18 sectors selected by the Indian government for an international promotion program called “Make in India,” arguing that the country can be a more relevant alternative to China as a source of footwear production than some other emerging countries. With a growing middle ...
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Genesco’s profit up 7%
Genesco, the parent company of Journeys, Schuh, Lids Sports and Johnston & Murphy, reported earnings of $10.6 million for the quarter ended April 30, an increase of 7.1 percent over the year-ago quarter. Revenues decreased by 2.0 percent to $649 million, partly due to the divestiture of the Lids Team ...
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Caleres maintains margins despite challenging conditions
Caleres, the parent of Famous Footwear and various footwear brands, previously called Brown Shoe Co., posted earnings that were down by 7.7 percent in the first quarter ended April 30 as compared to the year-ago quarter, largely due to planned investments. The company managed to maintain margins in what was ...
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DSW revises guidance down after a disappointing quarter
DSW has revised down its sales and profits projections for the full year after posting lower-than expected results for the quarter ended April 30. The U.S. footwear retailer now forecasts revenue growth of between 6.0 to 7.0 percent instead of 8.0 to 10.0 percent. In addition, the gross margin is ...
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Shoe Carnival delivers another strong quarter
Shoe Carnival posted another strong quarter, with sales increasing by 3.0 percent to $260.5 million and comparable store sales up by 2.7 percent - the seventh consecutive quarterly increase for the American shoe retail chain.Revenues were driven by continued strength in athletic footwear, along with unseasonably warm temperatures, which boosted ...
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Boot Barn’s profits tumble
Boot Barn's revenues increased by 45.0 percent to $149.5 million for the quarter ended March 26, 2016 compared with the corresponding quarter in 2015, but the American shoe retailer's net income tumbled by 61.2 percent. The management blamed the continued impact of low commodities prices.The U.S. retail company, which was ...
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The luxury goods market is growing slowly
The global personal luxury goods market posted a modest 1 percent growth in the first quarter of 2016. This trend is expected to continue throughout the year and confirms the trend that started in 2015, which marked the beginning of a new era of slower growth. The global personal luxury ...
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French and Italian firms top the global luxury market
The world's 100 largest luxury goods firms generated revenues of $222 billion in the financial year 2014, 3.6 percent higher on an annualized basis. This compares to an 8.2 percent growth rate in 2013. The threshold sales level for belonging to the Top 100 in 2014 was $191 million. The ...
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Bata shows progress in sustainability and moves to an annual reporting cycle
Bata has announced that from 2016, it will move to an annual reporting cycle on its sustainability efforts, and will work toward aligning information with the internationally recognized framework developed by the Global Reporting Initiative. Meanwhile, the company has released its second Sustainability Review, which covers 2014 and 2015. The ...
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Ferragamo releases comprehensive sustainability report
Salvatore Ferragamo has announced the publication and certification of its 2015 Sustainability Report, which comes after the publication of a trial sustainability statement for 2014. In order to adopt a structured approach to sustainability issues, in 2014 the company set up the Green Team, a working group dedicated to designing ...
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Clarks reports a big drop in profits
C & J. Clark (Clarks) has reported a big drop in profitability for the financial year ended Jan. 31. The group's operating earnings fell to £45.8 million (€59.5m-$66.7m) from £112.7 million in the year-earlier period while revenues rose by only 2.6 percent to £1,494.4 million (€1,940.0m-$2,177.0m).An increase in average selling ...
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Geox confirms targets despite retail slowdown
Geox confirmed its guidance despite a sharp slowdown in same-store sales in March and April. The company found comfort that its announced turnaround continues to strengthen as the order backlog for the autumn/winter 2016/17 collection has risen by 14 percent, with similar increases for shoes and apparel, exceeding expectations and ...
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Pakerson restructures
Pakerson, the high-end Tuscan brand of men's shoes, is negotiating an agreement with the representatives of its 64 workers to reduce its workforce, in line with a big drop in its turnover. Its sales fell by 22 percent in 2014 and by a further 50 percent last year, down to ...
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New owners for Pom d’Api and other kids’ brands
A dozen French private investors have acquired all the shares of Rautureau Appel Shoes Kids (Ras Kids), parent company of Pom d'Api and other old and new French brands of children's shoes -10is (pronounced tennis), Schoopom, Schwik and Clotaire – that are positioned in different market segments.Founded in 1973 by ...
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Women are not wearing the right shoe sizes
About one-third of women around the world are not wearing the right shoe size, according to a survey published last month by Long Tall Sally, a British fashion retailer, which specializes in apparel and footwear for tall women. It recently commissioned a survey of 3,000 women in the U.S., the ...
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L.K. Bennett posts strong online growth
L.K. Bennett saw its revenues for the year to Aug. 1, 2015 decrease to £93.6 million (€121.6m-$136.5m) from £95.3 million. The company attributed the slight decline to its increased focus on reducing the number of underperforming stores in the U.K. On a comparable basis, sales increased by 5 percent.The British ...
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Zalando continues investing in new technologies
Zalando acquired a German IT company, Tradebyte Software, for an undisclosed sum earlier this month to strengthen its ability to digitalize its partner suppliers' inventories and to connect them with its own operations. Europe's largest online fashion retailer has budgeted investments of €200 million in new technological initiatives in 2016. ...
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Rocket Internet is in the doldrums
The share price of Rocket Internet, a co-founder and shareholder of Zalando, has been cut in half to less than €22 after a series of disappointing financial statement. Most recently, a new €300 million round of fund-raising shaved €2 billion off from the original €3 billion portfolio value of the ...
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Dielmann takes over Mengin shoe stores
Retroactively to May 1, Dielmann, one of the major German shoe retail chains, is taking over the four remaining stores of Mengin, the insolvent shoe retail chain based in Erlangen. Mengin had already closed eight of its 12 stores due to rising rents, which made up the half of the ...
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New generation takes over at Wortmann
Horst Wortmann, who celebrated his 75th birthday on May 8, will quit on May 31 the operational management of all the subsidiaries of the big German group that bears his name and that he founded in 1967. The departure of the group's main shareholder will coincide with end of its ...
