Latest Headlines – Page 191
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Vulcabras shows improvement, but loses the Reebok contract
Vulcabras, the Bazilian company that owns Azaleia, Dijean and Olympikus, announced a net profit of 11.2 million reais (€3.2m-$3.5m) for the fourth quarter of its last financial year, ended on Dec. 31. It was the first net profit in 13 quarters, following a long period of reorganization, and compared with ...
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Alpargatas reports mixed results
Increasingly known internationally for its Havaianas brand of rubber sandals, Alpargatas reported a rise of 8.3 percent in total revenues to 3.71 billion reais (€1,061m-$1,155m) for the past year, with growth of 13.7 percent in local currencies.The company booked net income of R$280.2 million (€80.2m-$87.2m) for the year, down 9.6 ...
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Steven Madden’s results decline
Sales increased by 1.6 percent at Steven Madden to $1.33 billion last year, and the company's net income declined to $111.9 million from $132.0 million. Sales dropped marginally in the fourth quarter, down to $342.6 million from $342.9 million in the year-ago period, and they would have been off by ...
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Strong year-end spurt for Bogs’ and Florsheim’s parent
A 69 percent increase in sales of Bogs shoes in the U.S. and Canada, driven by women's and children's boots, helped Weyco Group to post a 21 percent sales increase to $95.3 million in the fourth quarter of 2014, with 27 percent higher revenues from the North American wholesale segment.In ...
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Genesco posts higher sales, but is disappointed by earnings
Genesco reported sales of $893 million for the fourth quarter ended Jan. 31, 2015, up 12.6 percent from the fourth quarter of fiscal 2014. Comparable sales increased 10 percent, with 16 percent growth for the Journeys Group, a 7 percent increase for the Lids Sports Group, a 3 percent increase ...
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Brown Shoe’s earnings climb in the fourth quarter
Brown Shoe Company reported sales of $615.4 million in the fourth quarter ended Jan. 31, up 2.6 percent against sales in fourth quarter of 2013. Reported net earnings were $16.2 million, including adjustments primarily related to the sale of Shoes.com in December 2014. Adjusted net earnings of $9.0 million were ...
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DSW posts strong sales and profit growth
DSW reported a sales increase of 11.9 percent to $640 million for the fourth quarter ended Jan 31, 2015 as compared to the quarter ended Feb. 1, 2014. Adjusted sales increased by 12.1 percent, excluding sales from the company's luxury trial run. Comparable store sales increased by 7.6 percent. Net ...
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Shoe Carnival posts sharp increases
Shoe Carnival reported sales growth of 13.6 percent to $227.6 million for the fourth quarter ended Jan. 31, 2015, as compared to $200.3 million for the fourth quarter of fiscal 2013. Comparable sales increased by 9.5 percent in the quarter, exceeding the company's guidance. The growth was driven by gains ...
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Management buyout for Bata’s French stores
François Le Ménahèze, who acted as chief executive of Bata France between 2008 and 2011 and came back a few months ago to help solve its financial problems, has won an auction for most of its stores, many of which are in prime locations.Following the insolvency of Bata's French subsidiary ...
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Wortmann grows by 1% but the future is uncertain
Wortmann reports an increase of 1.1 percent to €504.1 million for the first six months of its financial year, ended Nov. 30. Based on the current order book, the company predicts that its sales will grow slightly for the full year to around €1,018 million, with the turnover outside Germany ...
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NeroGiardini invests in Russia, grows abroad
Well-established European shoemakers such as Baldinini, Rieker or Wortmann, and high-end brands such as Pakerson, are selling less than before in Russia and Ukraine because of the difficult economic, political and monetary situation in those countries, but apparently, they are suffering less than many other less well-known companies. Judging from ...
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Hermès predicts slower growth
Hermès broke the €4 billion barrier in 2014 for the first time, raising its total sales by 9.7 percent to €4,118.6 million, or 11.1 percent in constant currencies, outperforming the rest of the luxury goods market. Comparatively, the bigger Louis Vuitton brand grew by only 2 percent to more than ...
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Margins under pressure at LVMH
Hermès is due to publish its profit figures for 2014 on March 25. Meanwhile, LVMH has reported the first drop in its operating profits in five years. They declined by 5 percent to €5,715 million, resulting in an operating margin of 19 percent, mainly due to lower revenues from Wines ...
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Sales go up, margins down for Gucci's parent
Kering reported a 4.0 percent increase in consolidated revenues from continuing operations to €10.04 billion in 2014, up 4.5 percent on a currency-neutral basis. However, the group's operating margin went down by 1.6 percentage points to 16.6 percent and its net income declined by 4.4 percent to €1,177.4 million.The revenues ...
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The Prada brand falls by 1.6%
Gucci is not the only victim of a changing luxury goods market. According to preliminary figures, the Prada Group suffered a one percent decline in revenues to €3,552 million for the financial year ended on Jan. 31. The management blamed mainly the weakness of the European economy and declining demand ...
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New opportunities and challenges in China’s luxury market
The luxury good market in mainland China posted a decline of one percent to a level of around 115 million yuan renmimbi (€16.2m-$18.4m), according to a report on the Chinese market released by Bain & Company last month. The drop in the market, which follows many years of strong growth, ...
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Skechers’ strong international momentum continues
At the current pace, Skechers USA seems to be poised to reach an annual turnover of €4 billion in two to three years' time, with sales outside the U.S. growing from 37.5 percent of the total to 50 percent or more. Clearly, the brand has found its place in the ...
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Wolverine turns around in the quarter
Wolverine Worldwide reported a net profit of $10.7 million for the fourth quarter of its financial year, ended on Jan. 3, compared with the loss of $1.7 million suffered in the same period a year ago. The turnaround occurred in spite of a year-on-year increase in extraordinary restructuring charges to ...
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Strong showing for VF's footwear brands
Vans and Timberland, the two major footwear brands of VF Corporation, rose strongly on a global basis in the fourth quarter of 2014 and for the year as a whole, although the growth was more muted in Europe.For the whole year, Vans went up by 17 percent in terms of ...
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New owners for Samson
Samson, a French shoemaker that prided itself on making all its shoes in France, has been taken over by Colonnier-Coiffard, another French shoe company that makes its products in Morocco. The new owner has agreed with Samson's receivers to keep only 46 of its 128 employees and to transfer most ...
