Latest Headlines – Page 54
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ArticleDeichmann to invest €500 mln in 2023
Deichmann plans to invest around €500 million this year, half of which is earmarked for Germany. Investments will focus on the modernization and expansion of the store network, as well as in international growth, digitalization and logistics. The German footwear retailer plans to open 200 new stores worldwide. At the ...
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ArticleH&M posts an operating profit in Q1
In the first quarter that ended Feb. 28, H&M unexpectedly posted an operating profit of SEK 750 million (€66.4m), up from a profit of SEK 458 million a year earlier. Financial analysts were expecting a loss of more than SEK 1.0 billion (€88.5m). The operating margin widened to 1.3 percent ...
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ArticleReno files for bankruptcy
The shoe retailer Reno has filed for bankruptcy amid a deepening crisis in Germany’s shoe sector that has led to a string of insolvencies across the country in recent months. Reno’s parent company Reno Schuhcentrum GmbH and the subsidiary Reno Schuh GmbH applied for insolvency proceedings at the Hameln ...
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ArticleSpanish footwear exports at record levels in 2022
The year 2022 marked a record for Spanish footwear exports. For the first time, exports exceeded the €3 billion mark at €3.059 billion, up by 22.0 percent over 2021. In volume, exports increased by 6.1 percent to 159 million pairs. The average price was €19.26 a pair, up by 15.0 ...
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ArticleNext cautious on outlook but sees inflationary pressures easing
Next reported a better-than-expected annual profit but warned that it still expects sales and earnings to fall in a “very challenging” current fiscal year. Inflationary pressures were forecast to ease as freight costs drop and the cost of goods improve, but higher wages and energy costs are still expected to ...
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ArticleHotter Shoes’ parent may be taken over by WoolOvers
Unbound Group, the owner of Hotter Shoes, is considering a bid approach from WoolOvers Group valuing the business £6.8 million (€7.7 million). Unbound said it would accept if a firm offer were made. According to U.K. market rules, WoolOvers has to make a firm by 5.00 pm London time on ...
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ArticleHow Spanish espadrille makers expect to bank on their holy city’s jubilee
In 2024, Caravaca de la Cruz, the fifth holy city of Catholic Christianity with Rome, Jerusalem, Santiago de Compostela and Camaleño, will be celebrating a jubilee year that is expected to attract more than a million pilgrims and tourists. As part of the event, local shoe makers have launched a ...
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ArticleStella expects a decline in sales volumes in 2023
Stella International anticipates sales volumes to decline in 2023, especially in the first half of the year, driven by a decrease in orders for sports shoes. The drop is expected to be partially offset by additional customers in the luxury and the fashion categories. The Hong-Kong based footwear manufacturer and ...
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ArticleShoepassion files for bankruptcy after pandemic hit
Berlin-based footwear company Shoepassion filed for bankruptcy as sales lagged and liabilities arising from the pandemic took their toll. On March 6, the omnichannel company filed an application for the opening of insolvency proceedings under self-administration with the district court of Berlin-Charlottenburg, becoming the latest footwear company to be ...
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ArticleTempe’s FY sales rise nearly 8%
In fiscal 2022, Tempe increased its revenues by 7.9 percent to €1,408 million from €1,305 million a year and returned to pre-pandemic levels. In fiscal 2019, the last year before the onset of the Covid-19 pandemic in Spain, the company’s top line reached €1,399 million. Tempe is part of the ...
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ArticleShoe Carnival sees sales steadying after 7% decline in Q4
Shoe Carnival anticipates sales will be flat to up by 4.5 percent in its 2023 financial year after declining in the fourth quarter of fiscal 2022 and getting off to a “slow start” in the first quarter set to end in April amid economic uncertainty and cooler weather. In the ...
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ArticleSpartoo’s GMV drops slightly in 2022
In 2022, Spartoo saw its gross merchandise value (GMV) decrease by 1.9 percent compared to the year earlier to €209.6 million due to high inflation and a “slowdown in demand affecting all e-commerce players,” according to the French online retailer. GMV from B2C services slipped to €189.9 million from €192.8 ...
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ArticleJEMS by Pensole shoe factory inaugurated
On March 20, Designer Brands, the parent of the shoe retailer DSW Designer Shoe Warehouse, inaugurated, along with Pensole Lewis College of Business & Design (PLC), JEMS by Pensole, one of the first Black-owned footwear factories in the United States. The facility is located in Somersworth, New Hampshire. JEMS stands ...
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ArticleGerman 2022 footwear exports up 19.4%
In 2022, German footwear exports in 2022 grew by 19.4 percent year-over-year in value to €9.6 billion, according to data released by the German footwear and leather goods trade association, HDS/L. Exports were skewed towards the second half of the year. They totalled €4.2 billion, or 175.2 million pairs of ...
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ArticleDesigner Brands anticipates sales, earnings decline amid economic uncertainty
Designer Brands expects sales in the financial year ending January 2024 to decline by a mid-single digit percentage, while earnings are also expected to fall as consumers remain cautious on purchases amid fears of a recession. “With the continued uncertainty in the macroeconomic environment and evolving patterns of consumer discretionary ...
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ArticleShopfitting costs in German fashion retail increase sharply
The cost of shopfitting in fashion retail in Germany further shot up to €653 per square meter of retail space in 2022, a survey showed, up from €537 in 2019 and €444 in 2017. According to the study Shop Monitor 2023 carried out by the EHI research institute, material ...
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ArticleBrand portfolio drives Caleres higher in Q4
Caleres reported fourth-quarter results that exceeded expectations, bolstered by strong sales, profit and margin gains by its Brand Portfolio and solid results from its Famous Footwear segment that has begun sharpening its focus to reach more Millennial consumers. Operating income within the brand portfolio rose by 78 percent to $19.3 ...
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ArticleTod’s returns to the black, sees sales rising 7% in 2023
Tod’s reported a net profit of €23.1 million in 2022 compared to a bottom line loss of €5.9 million the year earlier but nonetheless decided to skip a dividend payment for the fourth year running. Emilio Macellari, the chief financial officer, indicated in a conference call with analysts that a ...
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ArticleTamaris launches a new concept store
Tamaris has launched a new store concept that features apparel for the first time. The new ”lifestyle” store opened as a pilot in central Dortmund, Germany. Tamaris is a brand of the German footwear manufacturer and distributor Wortmann Group, which also has the Tozzi, Caprice, Jana and s.Oliver brands. Wortmann ...
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ArticlePrada’s footwear business outperformed in 2022
In 2022, the Prada group’s footwear business outperformed the other main product categories by increasing retail sales by 29 percent at constant currency rates to €691 million, driven by both formal and lifestyle products. Meanwhile, ready-to-wear jumped by 27 percent to €1,086 million and leather goods grew by 18 percent ...
