Latest Headlines – Page 26
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ArticleZalando posts revenue growth and improved profitability in Q2
Zalando showed accelerating growth and improved profitability in the second quarter. The German online fashion retailer said that its success is due in part to an expansion of its lifestyle offerings, with strong growth in Sports, Designer and Beauty, and in part to a boost in its assortment’s relevance, with ...
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ArticleGeox’s H1 sales dragged down by the wholesale business
In the first half of 2024, Geox’s sales dropped by 9.4 percent, or by 8.0 percent at constant exchange rates, to €320.4 million due to the poor performance of its wholesale business. “The first half of 2024, consistent with what we have seen in the first months of the year, ...
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ArticleFerragamo posts encouraging first-half results
In the first half of 2024, Salvatore Ferragamo posted a 12.8 percent year-over-year decline in revenues to €523 million. At constant exchange rates, the decline narrowed to 10.9 percent. However, second-quarter sales showed a significant improvement on the first three months of the year by declining by only 8.1 percent ...
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ArticleNext lifts guidance on overseas sales surge and FatFace acquisition
Next has lifted its profit target for the eight time in a row as second-quarter sales defied wet British summer weather and the cost-of-living crisis, with overseas sales providing a boost along with the recently-acquired FatFace and Reiss, in which the UK fashion retailer now holds a majority 51 percent ...
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ArticleAllbirds partners with Belle Fashion Group to expand in Greater China
To bolster its presence in the Asian market, Allbirds has forged an exclusive distribution and licensing agreement with the Chinese Belle Fashion Group. Effective June 28, Belle Fashion Group will manage Allbirds’ operations in mainland China, Macau and Taiwan. This strategic shift from a direct go-to-market model to a partnership ...
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ArticleCrocs delivers record Q2, outlook on ‘cautious consumers’ spooks investors
Shares in Crocs took a hit yesterday, closing down by nearly 2.7 percent, or $3.65, to $130.81 after the company issued a third-quarter guidance below analysts’ expectations. The CEO, Andrew Rees, cited the company’s exceptional first-half results and market share gains but also asserted the group’s guarded outlook on H2 ...
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ArticleSteve Madden’s sales continue to be underpinned by Europe
In the second quarter of 2024, Steve Madden posted a 17.6 percent increase in revenues to $523.6 million, lifted by sales in the Europe, Middle East and Africa (EMEA) business region and the acquisition of Almost Famous in October 2023. Excluding Almost Famous, the top line grew by 7.5 percent. ...
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ArticleThe Swiss footwear retail veteran Max Vögele dies at 93
The Swiss shoe entrepreneur Max Vögele has died at the age of 93 in Pfäffikon, in the canton of Zurich. The industry veteran was responsible for building one of Switzerland’s best-known footwear retailers, Karl Vögele AG (KVAG), which operated the banners Vögele Shoes, Bingo and Max Shoes. Born ...
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ArticleRocky Brands doubles its operating profit in Q2
Amid an unpredictable consumer environment, Rocky Brands improved its second-quarter operating income by 104 percent year-over-year and lowered its net loss by 56 percent for the period ended June 30. The group attributed the better results to its diversified portfolio and recently started cost-saving initiatives. The quarterly operating income ...
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ArticleC-Suite interview: Quanticlo's founders are satisfied with the company’s current structure
After enjoying strong growth during the Covid-19 pandemic, which resulted in lockdowns supporting online sales, Quanticlo reached a plateau in 2021, when sales amounted to €5 million, 58 percent more than the pre-pandemic level of 2019. Revenues stayed around that level for the following two years as the Italian online ...
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ArticleTamaris launches the brand NEWD.
Tamaris, a brand of the German footwear manufacturer and distributor Wortmann Group, said that its premium collection NEWD.Tamaris is evolving into the NEWD. brand. NEWD. will now manage its communication strategy and target new customer segments in the €100-140 price range, adopting an independent approach with a focus on ...
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ArticlePrada’s first-half results are driven higher by Miu Miu
Prada Group’s first-half sales totaled €2,549 million, up by a reported 14 percent and by 17 percent at constant exchange rates, driven by the Miu Miu brand and the Japanese market. Retail sales grew by 15 percent, and by 18 percent at constant exchange rates, to €2,263 billion. Wholesale revenues ...
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ArticleSkechers’ Q2 sales driven higher by EMEA
Skechers’ revenues generated in the Europe, Middle East and Asia (EMEA) region, bolstered by a strong performance in the direct-to-consumer (DTC) channel, rose by 14 percent to $492.5 million. The DTC gain was however mitigated across the region by supply chain disruptions from the Red Sea crisis that pushed some ...
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ArticleDeckers continues to be driven higher by Hoka and Ugg
Fueled by higher levels of full-price selling and double-digit sales gains for both its Hoka and Ugg brands, Deckers Outdoor reported 81 percent net income growth to $115.6 million for the first quarter that ended June 30 from $63.6 million a year earlier. The period marked the last earnings call ...
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ArticleHow an Italian online platform aims to give more visibility to local fashion stores
JustinShop is an Italian startup that created an app allowing users to book fashion items, such as a piece of apparel or a pair of shoes, with the option to receive them at home by courier or pick them up at a nearby shop. This may not seem new for ...
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ArticleMost German, US and Japanese consumers prefer multi-brand retailers
A majority of consumers in Germany, the US and Japan prefer multi-brand retailers when shopping for fashion and lifestyle products, while direct-to-consumer retailers are losing key consumer touchpoints, a study from Roland Berger showed. The global consultancy firm surveyed over 1,800 consumers in the three countries. Eighty-four percent of shoppers ...
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ArticleEsprit’s Austrian subsidiary files for bankruptcy
Esprit’s Austrian subsidiary, Esprit Handelsgesellschaft m.b.H., has filed for bankruptcy at the Salzburg Regional Court. The announcement follows the insolvency application filed in May by the parent company Esprit Europe GmbH, headquartered in Ratingen, Germany. The bankruptcy affects 12 directly operated stores across Austria and approximately 170 employees. ...
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ArticleVietnam’s leather, footwear, handbag exports seen reaching $26-27bn in 2024
Export revenues for the Vietnamese leather, footwear and handbag industry are expected to reach $26 billion to $27 billion in 2024, according to Lefaso, the Vietnam leather, footwear and handbag association. In 2023, Vietnam generated $24 billion in revenues from leather and footwear exports, down by 15 percent year-on-year. ...
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ArticleThe stocks of footwear companies weaken in Q2 on soft economic prospects
The prices of stocks monitored by Shoe Intelligence fell by 4.6 percent on an equal-weighted average in the second quarter of 2024, compared with the previous three months as many economies continue to show signs of weakness. Meanwhile, interest rates in Western countries are staying higher for longer than expected ...
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ArticleItalian shoemakers agree on a new labor contract
Assocalzaturifici, which represents the Italian footwear industry, and the trade unions Filctem - CGIL, Femca - Cisl and Uiltec - Uil signed on July 17 a new nationwide collective labor agreement. The contract is effective from Jan. 1, 2024 and will last until Dec. 31, 2026. The previous contract expired ...
