Latest Headlines – Page 175
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Ferragamo appoints Eraldo Poletto CEO
Salvatore Ferragamo has chosen Eraldo Poletto as the successor of its long-time chief executive, Michele Norsa, who will step down on Aug. 2 after 10 years in the job. Norsa, who has been running the Florence-based shoemaker since 2006, accompanying its stock market introduction in 2011, will continue as a ...
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Ferragamo’s Q1 sales slip but profitability rises
Salvatore Ferragamo reported a 1.8 percent drop in its first-quarter results to €321.5 million, due to a decline in its retail business. At constant currency rates, the top line fell by 2.4 percent. Sales at Ferragamo's own retail sales around the world declined to €191.7 million, down by 3.6 percent ...
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Tod’s warns on growth, changes strategy
Tod's warned that sales growth is likely to be lower than previously expected for the group in 2016 due to a shift in the timing of deliveries and disappointing sales for some of its models of handbags. It also announced a change of course for the Tod's brand after the ...
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German trade shows change layout
The GDS has announced a change in its hall layout for the coming summer edition, to be held on July 26-29 in Düsseldorf, as the total number of exhibiting brands will drop to about 600 from 800 last February. The show will only take place in Halls 1 to 5. ...
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Grendene’s results worsen as the economy deteriorates
Grendene posted revenues for the first three months of 2016 that were down by 10.5 percent from the year-ago quarter to 475.8 million reais (€120.2m-$137.0m). The Brazilian group blamed this performance on the fact that the economic situation in Brazil worsened in the past few months, resulting in a weak ...
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Vulcabras continues to improve
Confirming its financial turnaround, the Brazilian company that sells its own shoes under the Azaleia, Dijean, Opanka and Olympikus brands, reported a 17.0 percent increase in net revenues to 251.5 million reais (€62.7m-$70.4m) for the first quarter ended March 31.The gross margin improved to 33.2 percent from 32.4 percent in ...
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Alpargatas performs relatively well
Alpargatas posted upbeat results for the first quarter of 2016, despite the ongoing low consumption rate and other economic problems in Brazil. Total revenues increased by 9.3 percent to 1,011.6 million reais (€251.1m-$281.9m) during the quarter ended March 31 for the company that owns the Havaianas and Dupé brands of ...
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Wolverine declines less than expected
While continuing to scout the market for possible acquisitions, Wolverine Worldwide's management is considering another possible review of its brand portfolio, after its recent termination of the Patagonia footwear license and the divestiture of Cushe.Meanwhile, it is doubling investments in market intelligence as it sees the need for product innovation ...
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Crocs turns around in the quarter
Crocs surprised investors with better-than-expected sales and profits for the first quarter ended March 31. Its revenues increased by 6.5 percent over the corresponding period a year ago to $279.1 million. On a constant-currency basis, they gained 9.2 percent. The company said this performance was driven by the positive response ...
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Phoenix Footwear posts further losses
Phoenix Footwear, the U.S.-based parent company of Trotters and Softwalk, saw its earnings and sales tumble in the first three months of 2016 due to its planned exit from a large national retailer, along with a shift in the timing of sales to an occupational account and online retailer, and ...
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Bogs’ sales tumble in the first quarter
Sales of Bogs, the American specialist supplier of waterproof footwear, tumbled by 17.0 percent during the first quarter of 2016 compared with the year-ago quarter, primarily due to a mild winter season. The drop followed a sudden 22 percent decrease for Bogs in North America during the last quarter of ...
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Yue Yuen posts higher profit and revenues
Yue Yuen Industrial Holdings posted a 3.1 percent increase in revenues to $2,028.3 milliion for the first quarter ended Mar. 31, with a 10.8 percent decline for casual/outdoor shoes that was offset by 5.7 percent higher sales of athletic shoes. The total shoe manufacturing volume for the period rose by ...
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Anti-counterfeiting group won’t admit Alibaba
The International Anti-Counterfeiting Coalition (IACC) has stated in a public letter that it is suspending the new class of membership under which Alibaba had recently joined. The Washington-based organization, whose mission is to fight counterfeiting and piracy, disclosed the decision on May 13 after the Associated Press (AP) reported that ...
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Alibaba posts the fastest sales growth in the last four quarters
Alibaba posted revenues of 24.18 billion yuan renminbi (€3,295.3m-$3,692.5) in the fourth quarter ended March 31, recording strong growth in mobile users, active buyers and transactions. Revenues increased by 39 percent compared with the same period last year, the highest revenue growth rate for the past four quarters. Net income ...
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Shoes could benefit from Unido’s new program in Indonesia
The United Nations Industrial Development Organisation (Unido) has announced a new country program for Indonesia for 2016-2020, designed as a road map to the country's inclusive and sustainable industrial development. Unido's director general, Li Yong, and Indonesia's minister for industry, Saleh Hussein, officially inaugurated the program during a ceremony in ...
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Toms gets people to walk barefoot
On May 10, Toms celebrated this year's “One Day Without Shoes,” the annual occasion which is meant to raise awareness of the importance of proper footwear for children's health and education. In many parts of the world, children cannot afford to wear shoes which would protect their feet from harmful ...
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Timberland extends environmental standards
Timberland has announced a set of environmental standards – the Timberland Environmental Product Standards (TEPS) – across all of its product categories. Building on the legacy of its Earthkeepers collection, the company is now setting environmental targets for all product categories, not just one collection. The company has also unveiled ...
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Bata stores are closing in France and Switzerland
The Bata group has decided to shut down all its 29 stores in Switzerland, mentioning several factors such as the competition from e-commerce and the strength of the Swiss fra+nc, which has been encouraging Swiss residents to make purchases on the other side of the borders in France, Germany and ...
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Ara takes over Klauser and Salamander stores
The Ara AG holding group, which already owns or has shareholdings in the Ara, Lloyd, Salamander and Legero brands of footwear, is taking a big step into multi-brand shoe retailing by taking over a big German chain of shoe shops, Schuhaus Klauser, and more direct control over the German stores ...
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Consolidation around ANWR Schuh
The ANWR group is consolidating the operations of two satellite buying groups, Garant and Quick Schuh. As it has already done in other countries, since January ANWR has begun to take more direct care of the 595 German independent shoe retailers of Garant through its central structure in Mainhausen.They were ...
