Latest Headlines – Page 197
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Ferragamo keeps growing in Europe
Salvatore Ferragamo managed to maintain its growth rate in Europe during the second quarter at the similar rate as in the first three months of the year in spite of a decline in tourist spending and stagnant economic growth on the continent. In the first half of the year, the ...
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Hermès and LVMH make peace
The two luxury goods groups have agreed to put an end to their legal quarrels following an agreement on the redistribution of LVMH's 23.2 percent stake in Hermès International, worth about €6.8 billion, among its own shareholders. By next Dec. 20, the latter will receive one share in Hermès for ...
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New negative trends in Italy
Italian shoemakers saw their production volumes decline by 1.6 percent in the first half of this year, after the 1.8 percent increase recorded for all of 2013, according to a survey by their trade association, Assocalzaturifici. In terms of value, their sales went up by only 0.6 percent during the ...
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Big drops in the Russian market
The Russian government has decided to halt purchases of footwear and clothing by public authorities in retaliation for the trade sanctions imposed by Western governments because of its dispute with Ukraine. Some shoe industry executives fear that this measure may be extended to purchases by private interests at a later ...
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Asia's importance in the market is growing
With more than 50 percent of the global production and consumption, the Asian continent is taking on more importance in the global footwear market. According to the 2014 edition of the World Footwear Yearbook, which came out last month, Asia's share of global footwear consumption continued to increase and reached ...
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Timberland eyes 13% growth annually
Timberland laid out a five-year development plan yesterday that calls for a compound annual growth rate (CAGR) of 13 percent for the brand, acquired by VF Corp. three years ago, with increases of 12 percent for footwear and 14 percent for apparel. At this rate, Timberland's annual revenues would go ...
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TheMicam may change its dates
While the organizers of the GDS decided not to spell out the figures in mentioning a drop in the number of visitors at its latest show, which took place for the first time between the end of July and the beginning of August, the Italian shoe industry association, Assocalzaturifici, has ...
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Bread & Butter will remain BBB
The organizers of the Bread & Butter show have decided to keep staging it in Berlin for the coming winter edition, which is now scheduled for Jan. 19-21, 2015, parallel to Premium, Panorama and Bright like in the past. The majority of exhibitors and trade visitors were skeptical about holding the event ...
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Action also among the fairs upstream
Le Cuir à Paris, the successful leather show in Paris that has grown to accommodate 430 exhibitors this week, has been renamed Première Vision Leather, a new name that would allow Première Vision, the leading international textile fair, to stage similar leather exhibitions around the world. PV is holding textile ...
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Stella posts some gains
Stella International has reported a 3 percent increase in net income to 52,378,000 yuan renmimbi (€6.47m-$8.53m) for the six months ended on June 30. Shoe deliveries declined slightly to 23.7 million pairs from 23.8 million pairs in the same period a year ago, but average selling prices rose by 5.6 percent ...
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Brown Shoe’s profit rises strongly
Brown Shoe Co. reported net sales of $635.9 million for the second quarter, up 2.3 percent versus the second quarter of 2013. Net earnings were $18.1 million,up 17.6 percent from the year-ago period. The results were driven by a 50.5 percent increase in operating income in the company's wholesale business ...
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Genesco’s sales go up but earnings disappoint
Genesco reported sales of $615.5 million for the second quarter ended Aug. 2, 2014, up 7.1 percent from the second quarter of the previous year. Schuh Group, the chain owned by Genesco in the U.K., posted sales of $99.8 million in the quarter, up from $82.1 million a year earlier. ...
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DSW lifts earnings forecast
DSW earned $34.3 millionin the second quarter ended Aug. 2, bolstered by improving sales and reduced expenses. The adjusted net income was $33.6 million, down from $44.6 million in the same period a year earlier was $44.6 million.Revenues increased to $587.1 million from $562.1 million in the same quarter a ...
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Shoe Carnival plans new initiatives
The American shoe retail chain is introducing its first mobile application for shopping during the current third quarter of its financial year. At the same time, it is converting fulfillment of its e-commerce orders from a third party to its own distribution center and its own stores.The company is taking ...
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Karstadt’s future is uncertain
The management of Karstadt is going to review the details of a program intended to eliminate the losses of its 83 regular department stores, discussing it with its employees and their union representatives, until the next meeting of its new supervisory board on Oct. 23. Like other department store operators, ...
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The new GDS came through well
Many of the exhibitors at the GDS show in Düsseldorf praised its earlier dates and its new concept, with its new layout and a clearer segmentation into three themed worlds, and the numerous other initiatives taken by the team led by Kirstin Deutelmeuser to re-engineer the fair and make more ...
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Two Italian firms are in trouble
Bruno Magli and Cesare Paciotti, two well-known Italian brands of shoes in the upper-medium segment of the market, are in financial trouble. The details are sketchy at this stage, due to the holidays in Italy, but it seems that some of their problems stemmed from excessive investments at retail and ...
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U.S. distributor acquires Naot, streamlines in Europe
Steve Lax and his wife Susan, who have been distributing Naot's comfort sandals successfully in the U.S. for 25 years, have agreed to acquire the company, which is the largest manufacturer of shoes in Israel.Naot's previous owners had been in disagreement over several issues. One was the acquisition of a ...
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German fund buys Scholl Footwear
A German-based investment fund, Aurelius Group, is acquiring the footwear division of Reckitt Benckiser, represented by the Scholl brand, for an undisclosed amount. The business generates an annual turnover of around €90 million, and the biggest markets are Italy and Germany. The takeover doesn't cover the rights to the Scholl ...
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Vivarte is saved
After six months of negotiations, all the 116 lenders to Vivarte have accepted to write-off €2.0 billion of the debt €2.8 billion that resulted from the company's leveraged buyout in 2007. In exchange, they are getting shares or convertible bonds in the company.With its numerous shoe and apparel retail chains, ...
