Latest Headlines – Page 188
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China to slash duties on shoes and other goods
China's Ministry of Finance said in a statement on May 25 that it would cut import tariffs on various products, ranging from shoes to cosmetics, by an average of more than 50 percent beginning June 1. The move is meant to spark domestic spending amid faltering economic growth.Chinese tourists often ...
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Zalando grows fast, adds curated shopping
After reporting an improved financial outlook for the current financial year, Zalando announced the launch of a “curated shopping” program for consumers and the acquisition of a minority stake in an interesting British software start-up that should help build up its own marketplace.Confirming preliminary data for the first quarter, the ...
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A single digital strategy for the EU
The European Commission is proposing the adoption of a “Digital Single Market Strategy” for all the 28 member countries of the European Union by the end of 2016. The general plan is to abolish national regulatory walls on e-commerce, to create a level playing field for innovative digital networks in ...
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Kering sues Alibaba over fakes
Tired of seeing copies of Gucci, Saint Laurent and Bottega Veneta handbags and watches offered through its websites, Kering had already filed a trademark infringement suit against Alibaba last summer, but then retracted it in July, hoping to be able to cooperate with the giant Chinese internet platform. As these ...
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Farfetch buys the iconic Browns boutique
Hybrid multi-channel retailing has made an interesting step forward as Farfetch, the multi-brand British fashion website, has acquired Browns, a famous London boutique where important shoe brands have a presence, as part of its omni-channel growth strategy. The financial details were not disclosed. Farfetch plans to operate the store to ...
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Yoox performs well in all its key markets
Yoox, which is about to merge with Net-a-Porter, posted consolidated revenues, net of returns and customer discounts, of €147.2 million in the first quarter of 2015, up 16.4 percent, or 13.6 percent at constant exchange rates, compared with the first quarter of the prior year. Consolidated net income amounted to ...
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Valleverde is saved by Silver 1
Valleverde has finally been acquired by a new investor, Silver 1, for a reported value of €9 million, after six bankruptcy auctions had previously failed to find a buyer. In the previous auction, the value had gone down to €7 million. Valleverde, an Italian brand that is known for its ...
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Geox confirms turnaround, Serbian plant to start in June
Geox' first-quarter results confirmed the effectiveness of the group's turnaround strategy and its recovery in sales and profits. The group's results should be boosted further after the start-up of its new low-cost footwear factory in Serbia, which could have a positive effect on gross margins from next year, according to ...
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Tod’s remains upbeat despite a poor Q1
Tod's released a relatively reassuring forecast for the current financial year, although its results for the first quarter came in below market expectations, showing a drop in the gross operating margin (Ebitda) to 18.2 percent from 22.4 percent a year earlier. At constant exchange rates, the Ebitda margin would have ...
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Ferragamo is supported by the weak euro in volatile trading
Salvatore Ferragamo reported higher profit margins on a 9.5 percent increase in first-quarter sales to €327.3 million, as the euro's depreciation against major currencies offset a volatile business environment due to geopolitical tensions in Russia, Ukraine and Greece. At constant currency rates, the top line rose by 2.1 percent. The ...
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Tax-free shopping grows in Europe, with the Chinese as the top spenders
Tax-free shopping in Europe registered a 7 percent increase from May 2014 to April 2015, despite a big fall in purchases by Russians. This is what emerged in the presentation of recent research by Global Blue to Altagamma's Monitor Update Conference in Milan, on May 21.The duty-free shopping market in ...
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Crocs reports lower results, but Europe is up
Crocs reported a decline in sales of 16.1 percent to $262.2 million for the first quarter, but they fell by only 6 percent in local currencies, and Europe outperformed the rest of the world. Wholesale revenues grew in Europe by 18.1 percent on a currency-neutral basis, but they were off ...
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Good progress for Vans and Timberland
Sales of VF Corp.'s outdoor and action sports division, with brands ranging from The North Face to Timberland and Vans, among others, advanced in the first quarter by 2 percent to $1.6 billion, which amounted to a rise of 10 percent in constant currencies. Vans lifted its sales by 16 percent ...
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DSW posts stronger sales and profits
DSW reported a 9.4 percent increase in sales to $655 million in the first quarter ended May 2, as compared to the prior year's quarter. Comparable store sales went up by 5.1 percent and the overall store traffic improved by 7 percent. The American discount-oriented retailer for designer shoes and accessories ...
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Brown Shoe outperforms
In its last quarterly income statement before changing its name to Caleres, the parent company of Famous Footwear, Naturalizer, Rykä and other brands reported better than expected sales and gross margins for the 13 weeks ended May 2. The group's net income rose by 25 percent to $19,261,000 on 1.9 ...
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Shoes.com is on target for sales of $300 million
Shoes.com, the North American online shoe retail portal recently acquired by Roger Hardy, has announced an 89 percent increase in gross revenues to $60 million for the first quarter of this year. Site visits from Canada and the U.S. went up by 149 percent and 34 percent, respectively. Repeat revenues ...
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Shoe Carnival reports profit and sales increase
Shoe Carnival reported a 19.5 percent increase in net profit for the first quarter ended May 2 to $10.4 million. Sales increased by 7.2 percent, as compared to the first quarter of fiscal 2014, reaching $252.8 million. Comparable store sales grew by 3.0 percent.Sales increased across all footwear departments and ...
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Weyco posts better overall results
Bogs enjoyed its sixth consecutive quarter of double-digit growth during the period ended March 31, posting a 20 percent increase in wholesale revenues for the period, driven by higher sales of women's and children's boots in North America.Stacy Adams, another brand of the Weyco Group, recorded a sales increase of ...
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Record quarterly results for Grendene
The Brazilian parent company of Ipanema, Melissa, Rider, Grendha and other footwear brands reported a record first-quarter net profit of 136.9 million reais (€39.8m-$43.6m) for the first three months of 2015. It was 41.8 percent higher than in the year-ago period and came after increases of 4.6 percentage points in ...
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Alpargatas performs better abroad than in the Brazilian market
Revenues and profits from sporting goods decreased sharply in the first quarter of 2015 at Alpargatas, the Brazilian company that owns the Havaianas and Dupé brands of rubber sandals. It is also a licensee of Mizuno and Timberland and the owner of two sports brands, Topper and Rainha. The main ...
