Latest Headlines – Page 56
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ArticleRocky Brands sees 2023 sales down 7-9% after 18% dip in Q4
Rocky Brands said it expects sales to decline by about 7-9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022 as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
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ArticleSteve Madden sees about 20% drop in wholesale revenues in H1
Steve Madden expects an about 20 percent drop in wholesale sales, which represent nearly 60 percent of its top line, during the first half of 2023 as clients reduce orders to reduce excessive inventories. In a conference call with financial analysts, the company’s chairman and CEO, Edward Rosenfeld, noted that ...
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ArticleItalian shoemakers’ 2022 revenue growth revised upwards to 14.0%
Italian footwear manufacturers estimated that in 2022 aggregate revenues rose by 14.0 percent year-over-year to €14.5 billion and were 1.2 percent above pre-Covid levels. A previous survey released in January estimated that 2022 revenues had risen by 13.2 percent compared with 2021. According to a survey carried out by Confindustria ...
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ArticleFarfetch Q4 sales dip 5%, profits squeezed but company sees ‘solid’ start to 2023
Farfetch reported a decline in revenues and gross merchandise value in the fourth quarter of 2022, a year marked by “unprecedented macro headwinds”, but said it was on better footing in 2023 after completing a strategic revamp and confirmed its guidance for growth in gross merchandise value (GMV) and an ...
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Online footwear sales plummeted in 2022 in Germany
Online sales plummeted in Germany in 2022 as the Ukraine war took its toll on consumer spending, with the footwear sector bearing the brunt of the downturn, a survey from the association of e-commerce and mail order trade, BEVH, showed. E-commerce sales in Europe’s biggest economy dipped last year ...
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ArticleWolverine Worldwide forecasts meaningful profit progress in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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ArticleAbout 400 Turkish footwear factories were destroyed in February’s earthquakes
Some 400 footwear factories were destroyed in the cluster of Antakya during the two earthquakes, with respective magnitudes of 7.8 and 7.7, that hit southern Turkey and northwestern Syria on Feb. 6. 2023, according to Berke Içten, the chairman of the association of Turkish footwear manufacturers, TASD. The plants represent ...
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ArticleZalando to axe several hundred jobs
Zalando plans to cut several hundred jobs due to a more “challenging” business environment. The Berlin-based online fashion retailer employs 17,000 people. “We have decided to start a program that will remove several hundred overhead roles across many of our teams,” the company said in a message to staff. “Over ...
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ArticleSan Marina goes into liquidation
The French footwear retailer San Marina has been put into compulsory liquidation by a Marseille-based commercial court, leading to some 650 job losses in 163 stores. On Feb. 20, the court stated that no serious relaunch project had been put forward and that it had ordered the company to immediately ...
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ArticlePouyuen Vietnam to axe 6,000 jobs
Pouyuen Vietnam, one of Vietnam’s largest shoemakers, will cut 6,000 jobs due to a decline in orders, the news agency AFP reported citing a document of the labor department of Ho Chi Minh City’s local government. Pouyuen Vietnam, which is owned by the Taiwanese group Pou Chen, produces for Nike ...
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ArticleSergio Rossi more than doubles 2022 sales
Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods Lanvin Group, posted sales of €61.9 million, up by 116 percent from a year earlier, outperforming the rest of the group. Lanvin Group increased overall revenues by 38 percent to €424.5 million. Sales for the Lanvin brand grew by ...
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ArticleGörtz closes more stores amid heightened uncertainty
Görtz is closing more stores across Germany in a sweeping reorganization effort, after suffering a hefty sales drop during the Covid-19 pandemic. The ailing Hamburg-based footwear retailer declined to comment on the total number of stores to be closed or the number of employees affected, but according to the ...
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ArticleCrocs brand gains traction in EU; Heydude prepares for expanded distribution
Coming off a year when global revenues rose by nearly 54 percent to more than $3.5 billion and adjusted operating margin hit 28 percent, Crocs continues to see markets outside the U.S., including Europe, as important growth vehicles for both of its brands. In Q4, Crocs brand sales rose 75.6 ...
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ArticleHow a new collection has prompted Safety Jogger to review its supply chain
Safety Jogger, the leading brand of the Belgian footwear and apparel company Cortina, launched in November 2022 a workwear collection as part of its brand extension policy and the initiative has led the company to reconsider its sourcing policy and reduce its reliance on China. At Expoprotection, an international exhibition ...
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ArticleGabor resumes growth in 2022 after the pandemic collapse
The German shoe manufacturer Gabor returned to growth in 2022 as it recovers from the Covid-19 downturn. The top line however still remains about 10 percent below the level achieved in 2019, the year prior to the outbreak of the pandemic. The Rosenheim-based company reported sales of €325 million, for ...
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ArticleACBC more than doubles 2022 sales, enters partnership with Diadora
ACBC has yet to finalize its financial results for 2022, but the fast growing Italian B Corporation sneaker startup estimates that revenues grew by 130-140 percent year-on-year and Ebitda increased by 20-25 percent. “If we look at the last three years, revenues have been growing at an average of more ...
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ArticleThe upgrade of Expo Riva Schuh’s exhibition hall continues despite hiccups
Plans to upgrade the exhibition hall that hosts Expo Riva Schuh & Gardabags are progressing even though a significant portion of the project will be delayed following the bankruptcy of the construction group that had won a public tender for a large part of the works. The modernization of the ...
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ArticleMicam features 988 exhibitors
Micam, the trade show scheduled to be held from Feb.19 to 22 at the Fieramilano Rho exhibition center at the outskirts of Milan, has attracted 988 exhibitors, including 451 foreign ones. Newcomers include the brands Alberto Guardiani, Buffalo Boots, Cult, Kenneth Cole, Luciano Padovan and Oxs. The trade show is ...
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ArticleAlpargatas swings to Q4 loss as inflation erodes purchasing power
Alpargatas, the Brazilian owner of the flip-flop sandal brand Havaianas, reported a decline in sales volumes and a bottom-line loss in the fourth quarter of 2022, rounding out a year that fell short of management expectations as inflation cut into households’ disposable income. In January, overall annual inflation in Brazil ...
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ArticleDesigner Brands buys Keds from Wolverine Worldwide
Wolverine Worldwide has sold Keds, which it acquired in 2012 as part of its $1,249.5 million acquisition of the assets of the former Performance Lifestyle Group (PLG), for $83.6 million to the North American retailer Designer Brands Inc. The sale also includes the Pro-Keds athleisure brand and Keds’ e-commerce business. ...
