Latest Headlines – Page 194
-
Article
Prada's profits continue to fall but footwear sales are higher
Prada's profit margins continued to decline in the third quarter ended Oct. 31 as the company suffered from flat overall sales and the cost of building up the group's retail network.The group opened about 250 directly-operated stores (DOS) over the past three years, nearly doubling the network to a total ...
-
Article
Kering reacts to Gucci's “brand fatigue”
In reaction to the poor results of Gucci, its parent company, Kering, has dismissed its chief executive, Patrizio di Marco, and its creative director, Frida Giannini. They live together. Di Marco will leave the company as of Jan. 1, and his position will be taken over by Marco Bizzarri, head ...
-
Article
Schuh will move into Germany
With its German name, the British shoe retailer owned by Genesco had to choose Germany for its long-awaited expansion into the European continent. According to Retail Week, it has agreed to open its first German store in Oberhausen early next year and is exploring further opportunities in the northern part ...
-
Article
Genesco sees lower profits ahead
Genesco posted earnings from continuing operations of $28.8 million for the third quarter ended Nov. 1, 3 percent up from $27.8 million for the third quarter ended Nov. 2, 2013. Adjusted to eliminate extraordinary items including a deferred payment of $1.0 million for the purchase of the Schuh chain in ...
-
Article
Brown Shoe posts double-digit profit growth
Like other major publicly listed American shoe retailers, Brown Shoe Co. beat financial analysts' expectations with its results for the third quarter ended Nov. 1. It posted net earnings of $33.1 million for the quarter, up 21.2 percent as compared to the third quarter of 2013, on 3.8 percent higher ...
-
Article
DSW revises full-year guidance upward
DSW posted a 5.8 percent sales increase to $670 million in the third quarter ended Nov. 2. Sales rose by 2.6 percent on a comparable store basis from a year ago. They grew in all major categories, with especially good performances in women's footwear, which recorded its first positive comparable ...
-
Article
Shoe Carnival’s sales and earnings exceed expectations
Shoe Carnival reported net sales of $254.7 million for the third quarter ended Nov. 1, which represented an 8.0 percent increase as compared to the third quarter of the previous year. On a comparable store basis, they increased by 2.3 percent, exceeding the company's guidance, in spite of lower store ...
-
Article
A new Forum will come after the World Footwear Congress
A total of 678 people from 32 countries participated in the World Footwear Congress in Léon, Mexico, last month. There were many journalists who were invited in exchange for posting advertisements in their trade publications. About one-third of the delegates came from outside Mexico. The speakers came from 18 different ...
-
Article
Timberland partners with Singapore-based tire maker
Timberland has announced a collaboration with Omni United to create a co-branded line of car tires under the Timberland and Radar Tires brands. As part of the collaboration, the rubber tires will be recycled at the end of their lifecycle to make the outsoles of Timberland shoes. The announcement was ...
-
Article
The brown shoe brands expanded their sales by 6.7% in 2013
The so-called brown shoe market rose by 6.7percent to $20.1 billion in 2013, with increases of 4.6 percent in the lifestyle/comfort segment and 9.2 percent in the more fashion-oriented segment, according to an annual survey by Shoe Intelligence. In dollars, sales increased a little less in the U.S. than the ...
-
Article
Bata France goes into receivership
Bata's French subsidiary asked a French court in Nanterre yesterday for protection from its creditors because of mounting losses and poor sales at its stores this year. A spokesman for the company said that the court-appointed receiver will probably look for other companies to take over some of Bata's 136 ...
-
Article
New owners, new boss for Vivarte
In closing a massive financial transaction that gives a majority of the shares in Vivarte to four international equity funds, the newly appointed board of directors of the big French retail group promoted on Oct. 29 Richard Simonin to the position of president and chief executive, replacing Marc Lelandais. An ...
-
Article
New technologies at Leder & Schuh
The Austrian retail group, which is recovering from costly investments on other projects, will launch a new smartphone app before Christmas that will allow some of its Austrian clients to determine whether any of the shoes offered at its Humanic stores in the country will really fit them. It will ...
-
Article
Macintosh reports mixed results
Like Humanic, Brantano has been measuring the height of the customer's foot as well as the length and the width with its 3-D scanning system since May. The Belgian shoe retailer indicates on its website that it has already recorded the 3D scans of more than 3,000 pairs of shoes ...
-
Article
Clarks improves margins
C&J Clark (Clarks) performed well in Europe and Asia during the first six months of its financial year, ended July 31, but this was offset by a competitive environment for the group in the U.S. and a disruption in deliveries caused by workers' demonstrations in Vietnam in May. The group's ...
-
Article
Convincing signs of Geox' turnaround in Q3
Geox showed convincing signs in the third quarter that its turnaround strategy is working, pushing the group's share prices up by nearly 12 percent on the day of its quarterly financial release and generating a string of positive comments from financial analysts. The revenues reported by the company were only ...
-
Article
Assocalzaturifici pleads for “re-shoring”
A total of 192 brands involved in various sectors decided last year to bring production back to Italy. They represented 20 percent of the companies that have made this “re-shoring” decision around the world, placing Italy in second place after the U.S., which made the big move to offshore manufacturing ...
-
Article
Tod’s continues to disappoint
Tod's continues to disappoint after posting third-quarter results largely below market expectations. The group also sent out contradictory signals regarding the future shareholder structure of its brands. It had to clarify its position regarding the possible spin-off and listing of its Hogan brand and said that any decision regarding the ...
-
Article
Ferragamo problems mount in Asia
Salvatore Ferragamo is confident that it can pursue the 6 percent currency-neutral increase in sales achieved in the first nine months of the year during the fourth quarter, despite mounting problems in the Asia-Pacific region, its largest market.The group admitted that the pro-democracy protests that started at the end of ...
-
Article
Hermès defies the luxury market
In contract with other major luxury goods groups, Hermès International continues to grow at a double-digit rate. The management is predicting currency-neutral sales growth of around 10 percent after posting increases of 12 percent for the first nine months of this year and 11 percent for the third quarter. In ...
