Latest Headlines – Page 178
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Footwear aids Gucci turn the corner
Gucci seems to have finally come out of the doldrums. The big luxury brand owned by Kering recorded a 4.8 percent sales increase on a comparable basis in the fourth quarter of 2015, when the first apparel and footwear collections created under the leadership of the new artistic director of ...
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Tod’s slows down store openings
The management of Tod's said that it is comfortable with financial analysts' expectations of an increase of about 5 percent in this year's sales to nearly €1,090 million. The company estimates that it will continue to benefit from foreign currency exchange rates, but the impact will be less significant than ...
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Ecco grows by 7%
Ecco reported a 4 percent increase in pre-tax earnings to €183 million for 2015 on 7.4 percent higher net revenues of €1,256 million, implying a drop in the profit margin to a still strong level of 14.6 percent from the 2014 level of 15.1 percent. Net earnings rose marginally to ...
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Geox grows by 6.1%
Geox' sales in its own stores suffered an unexpected slowdown in November and December, stemming from the Paris terrorist attacks that killed 130 people on Nov. 13, and the record warm weather in Europe. In the past months, the group's same-store sales suffered a roller-coaster ride, rising year-on-year by 7 ...
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Geox aims for sales of over €1 billion by 2018
After having declared a turnaround and reporting sales of €874.3 million for last year, less than €20 million short of the record level of €892.5 million posted in 2008, Geox said that it expects them to reach between €1,025 and 1,100 million in 2018. The target implies annual average growth ...
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Europe to represent 25% of Geox’ sourcing
By 2018, Geox plans to source at least 25 percent of its production in Europe, up sharply from only about 5 percent in 2013, largely because of the development of its new Serbian plant. In the meantime, China's share would drop to 10 percent from 40 percent five years earlier.Reconstructing ...
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Geox signs on two Chinese distributors
Geox has found two Chinese distributors to replace Riqing Enterprise and help it cover the whole mainland while it pursues a strategy of opening directly-operated stores (DOS) in Beijing and Shanghai.The company has signed a deal giving Pou Sheng International, the Chinese retail subsidiary of Yue Yuen Industrial Holding, an ...
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Wolverine reports mixed results
Wolverine Worldwide reported overall declines in revenues of 7.1 percent to $751.2 million for the fourth quarter and 2.5 percent to $2.69 billion for the full financial year ended Jan. 2. On an underlying basis - before currency conversions, retail store closures and the phase-out of Patagonia footwear - the ...
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Another down quarter for Crocs, especially in Europe
In line with a previous forecast made by its management, Crocs reported a 7.0 percent sales increase for the fourth quarter of 2015 in terms of local currencies. Translated into dollars, this led to an increase of only 1.1 percent to €208.7 million for the quarter.However, average selling prices were ...
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Start-rite has sold One Small Step
Start-rite Shoes has sold One Small Step to Step2wo, the London-based premium kid's shoe label. Start-rite reportedly made the decision to sell the business, which it had acquired in 2011, in order to focus on its core brand. One Small Step has eight stores and four concessions across the U.K. ...
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VF disappoints investors
The usually buoyant Outdoor & Action Sports coalition of VF Corp. suffered a 3 percent drop to $2.1 billion in its sales during the fourth quarter ended Jan. 2, largely due to the warm weather conditions that also hurt Wolverine Worldwide, Deckers Brands and other companies with the exception of ...
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Is Steve Madden making a comeback in Europe?
For the first time in recent memory, Steve Madden had a big booth at theMicam show in Milan last month, evidently with the intention of playing a stronger role in Europe and other markets. Company officials said they could not make any comments at this stage. Three of its stores ...
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DSW invests more in digital after profits plummet
DSW has announced a definitive agreement to acquire Ebuys, an off-price e-commerce footwear and accessories retailer with a presence in North America, Europe, Australia and Asia. The transaction is expected to close over the next 30 days.The initial purchase payment of $61 million is being funded using cash on hand. ...
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Genesco reports higher sales, but earnings are down
Genesco reported a sales increase of 4.4 percent to $932.2 million for the fourth quarter ended Jan. 30. Sales for the Schuh Group of $122.2 million were down by 2 percent. The company's earnings from continuing operations of $46.7 million were down from $51.8 million for the fourth quarter of ...
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Caleres reports lower quarterly profits
Caleres, the parent of Famous Footwear and various footwear brands previously called Brown Shoe Co, reported sales of $608.7 million for the fourth quarter ended Jan. 30, down from $615.4 million for the quarter ended Jan. 31, 2015. Excluding revenues from Shoes.com, which was sold in December 2014, sales were ...
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Shoe Carnival’s profits up 40% in the quarter
Shoe Carnival saw its net income for the quarter ended January 30, 2016 rise by 40.0 percent year-on-year to $4.2 million. The footwear retailer said its multi-channel sales strategy and reward programs were among the factors that helped it pull off a strong quarter. Sales increased by 2.7 percent to ...
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Weyco posts lower revenues, with Bogs’ down by 22%
Weyco Group reported sales of $87.4 million for the fourth quarter of 2015, down from $95.3 million in the fourth quarter of 2014. The big problem was a sudden 22 percent drop for Bogs in North America, after many seasons of strong growth for the brand of outdoor boots, due ...
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Rocky Brands’ sales fell by 17% in Q4
Net sales of Rocky Brands' products dipped by 17.3 percent in the fourth quarter of 2015, down to $65.3 million against $78.9 million in the corresponding period of 2014. The American company's net income fell to $1.4 million from to $4.5 million.The gross profit declined to $22.2 million from $27.6 ...
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U.S. shoe imports grew by nearly 6% in 2015
According to the FDRA (Footwear Distributors and Retailers of America), U.S. annual footwear imports rose by 5.8 percent in value terms and by 5.7 percent in volume terms from 2014, growing at the fastest paces in the last four and five years, respectively. The organization said that the close of ...
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Brazil extends anti-dumping duties
After a lengthy investigation and intensive lobbying by all interested parties, the Brazilian government decided on March 2 to extend the anti-dumping duties on footwear imports from China that it imposed in 2009. They will run for a further five years, the maximum allowed by the World Trade Organization, but ...
