Latest Headlines – Page 4
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ArticleFerragamo’s CEO steps down
Marco Gobbetti is stepping down as the Chief Executive Officer and General Manager of Salvatore Ferragamo, three years after joining the Italian fashion house from Burberry. Ferragamo said that Gobbetti’s departure would be effective on the date of the approval of the company’s 2024 results on March 6. The Chairman, ...
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ArticleBoot Barn raises guidance as it starts Q4 strongly, prepares to protect margins as tariffs loom
Boot Barn raised its guidance for the fiscal year ending in March 2025 after starting out the fourth quarter strongly. Management also indicated the company was prepared to take actions to protect margins in the face of tariffs on imports from Mexico and China, including passing a portion of the ...
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ArticleFerragamo posts “encouraging” DTC sales in Q4
In the fourth quarter of 2024, Salvatore Ferragamo posted overall revenues of €291 million, down by a reported 6.7 percent and by 4.0 percent at constant exchange rates, partly due to a decline in the hedging cash flow to €0.2 million from €4.0 million a year earlier. Net sales in ...
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ArticleDeckers sees headwinds in Q4 after ‘superb’ Q3, winding down Koolaburra
Deckers Outdoor warned of headwinds in the fourth quarter of its financial year, after posting record earnings and sales in what management described as a “superb” third quarter. Sales in the third quarter ended Dec. 31 grew by 17.1 percent compared to the year earlier to $1.827 billion, with 16.6 ...
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ArticleH&M’s Q4 sales up 3% in local currencies
H&M Hennes & Mauritz’s net sales in the fourth quarter, ended Nov. 30, amounted to SEK 62.193 billion (€5.42bn), down from SEK 62.650 billion a year earlier. In local currencies, net sales increased by 3 percent. RBC Capital Markets’ analyst Richard Chamberlain pointed out that the fourth-quarter sales growth was ...
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ArticleVF Corp. transition for Vans’ business moving forward
VF Corp. will reveal more about its strategy for Vans at an investor day on March 6. In detailing third-quarter results, President and CEO Bracken Darrell said the company is continuing to expand into different forms of demand creation and action sports.
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ArticleAlibaba co-founder buys 12% stake in Golden Goose
Blue Pool Capital, a Hong Kong-based investment firm and family office founded by Joe Tsai, the co-founder and Chairman of Alibaba Group, has bought a 12 percent stake in Golden Goose. Oliver Weisberg, Blue Pool Capital’s Chief Executive Officer, will join Golden Goose’s board of directors. Funds advised by Permira, ...
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ArticleDr. Martens’ US sales ‘on track’ for recovery despite weak Q3
Third-quarter sales at Dr. Martens staged a partial recovery, with the troubled US division “on track” for a return to positive growth as the British bootmaker held annual guidance despite deep discounting in Europe. Group revenues still fell 3 percent on a reported basis in the third quarter ended Dec. ...
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ArticleGörtz faces insolvency again
One and a half years after the end of its insolvency proceedings, the troubled Hamburg-based shoe retailer Görtz is once again facing bankruptcy. On Jan. 20, the Hamburg District Court appointed the lawyer Gideon Böhm of the law firm Münzel & Böhm as provisional insolvency administrator, after four creditors filed ...
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ArticlePrimark lowers sales forecasts as cautious consumers rein in spending
Primark has cut its sales growth target to low-single digits for fiscal 2025 after warmer autumn weather and cautious consumers worried about their finances dented UK revenues in the 16 weeks to Jan. 4. In the UK, the fast-fashion retailer’s sales declined by 4 percent during the period and 6.4 ...
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ArticleKizik enters distribution agreements in South Korea, France, Gulf countries and Spain
Kizik has entered distribution agreements in South Korea, France, the Gulf countries and Spain as the US brand specializing in slip-on shoes continues to expand abroad. In South Korea, Kizik partnered with Platform Inc., a distributor with over 20 years of expertise in introducing brands like Saint James, Fred Perry ...
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ArticleShoe Zone FY profits plunge on weak second half
A tough second half has hit annual results at Shoe Zone with unseasonal summer weather, poor store sales, declining consumer confidence and higher costs denting the bottom line of the British retailer. Pre-tax profit in the year to Sept. 28 plunged 38 percent to £16.2 million (€19.2m) after sales fell ...
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ArticleSneakersnstuff files for bankruptcy
For the first decade of the millennium, it was the hip Södermalm neighborhood in central Stockholm where the sneaker world turned its attention when it came to product releases for limited-edition shoes. Outside the store of Swedish sneaker retailer Sneakersnstuff, or SNS as the industry, colleagues and sneaker fans all ...
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ArticleExpo Riva Schuh attracts about 9,000 visitors
Expo Riva Schuh & Gardabags, the Italian trade show specializing in footwear, bags and accessories whose 102nd edition was held from Jan. 11 to 14, 2025 in Riva del Garda, hosted 1,100 exhibitors and brands from 36 countries and attracted about 9,000 visitors, in line with the January 2024 edition. ...
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ArticleBrazilian shoemakers hope Trump will help boost their sales to the US
As Donald Trump is sworn in as the 47th President of the US on Jan. 20, Brazilian shoemakers hope to benefit from a possible reduction in shipments of Chinese footwear to the world’s largest market in value in the wake of higher import duties. During his electoral campaign, Trump, who ...
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ArticleAsos to mothball US distribution center at cost of £190m
Asos is mothballing its Atlanta distribution center at a cost of £190 million (€226m). The British online fashion retailer said that the bulk of US orders will now be managed by its UK fulfillment center in Barnsley from the second half of the 2025 fiscal year, supported by a “smaller, ...
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ArticleGenesco sees next wave of Journeys growth fueled by store remodels
Genesco expects store remodels underway at Journeys since October will fuel the next wave of growth at the division, where comparable sales jumped by 14 percent in the first eight weeks of the fourth quarter of its 2025 fiscal year. Mimi Vaughn, CEO, told the ICR Conference on Jan. 13 ...
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ArticleXtratuf focuses on lifestyle and outdoor markets
Xtratuf is shifting its focus to lifestyle and outdoor markets. The US brand, initially popular among commercial fishermen, now has a diversified customer base. Half of customers are male adults, while women and children make up the other 50 percent – a significant change from the 70 to 75 percent ...
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ArticleBoot Barn sees growth underpinned by store openings
Boot Barn expects sales growth to continue to be underpinned by store openings, as it approaches the halfway mark of a goal to have 900 stores operating in the US in the next four or five years. Jim Watkins, the Chief Financial Officer of the US footwear retailer, explained during ...
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ArticleRussia shoemakers cut production as the business environment worsens
Several shoe factories have stopped or curtailed operations in Russia over the past few months as the economic environment in the country grows more challenging. For instance, the Romer shoe factory in Kaluga, with a nameplate capacity of 470,000 pairs of shoes per year, has been permanently closed. In the ...
