Latest Headlines – Page 70
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ArticleMoncler sees footwear representing 10% of revenues
Moncler expects footwear to represent 10 percent of its revenues in 2025, driven by demand for luxury sneakers in the U.S. The Italian luxury goods brand, known for its down jackets, generated sales of €589.9 million in the first quarter of 2022, up a reported 61 percent on the year ...
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ArticleEMEA paces Havaianas’ growth for Alpargatas
Alpargatas realized 17 percent currency-neutral growth for its rubber sandal brand outside of Brazil in the first quarter to 342 million Brazilian reais (€58.2m) as total pairs sold increased 11 percent to 8.9 million. The EMEA region led Havaianas’ sales gains internationally, rising 25 percent currency-neutral to R$207.9 million (€35.4m) ...
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ArticleZalando launches a profit warning as sales decline for the first time
Zalando posts the first decline in quarterly sales of its history and launched a profit warning for the full year. In the first quarter, the German online retailer reported a 1 percent increase in the gross merchandise volume (GMV) to €3.2 billion, but a 1.5 percent decline in revenues ...
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ArticleBoohoo to source closer to U.K. as profits fall
Boohoo reported plunging annual profits as it was hit by Covid-19-related costs and surging return rates. In an effort to optimize its operations, the British online fashion retailer plans to increase sourcing from suppliers closer to the U.K., reduce inventory levels and cut costs. It will also focus resources and ...
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ArticleRocky Brands posts strong Q1 sales, profits
Net income rose 61 percent to $7.34 million from $4.49 million for the period ended March 31, as total sales soared 90.5 percent to $167.03 million from $87.67 million. But the parent of the Durango and Xtratuf brands, among others, admittedly has work to be done cutting expenses and inventories ...
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ArticleVulcabras bolstered by sports brands, e-commerce
Vulcabras’ net income soared by 270 percent to 54.0 million Brazilian reais (€9.2m) in the first quarter of 2022. Operating earnings (Ebit) jumped by 203 percent to R$64.4 million (€10.9m) in the period ended March 31, as the gross margin increased by 1.2 percent to 35.2 percent versus 34.0 percent ...
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ArticleWeyco Q1 sales nearly double in Q1
Weyco Group’s revenues reached $81.4 million in the first quarter ended March 31, a record for the period and nearly double the $46.9 million seen the year earlier, when sales were heavily impacted by the Covid-19 pandemic. Revenues were 10 percent higher than the first quarter of 2019, ahead ...
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ArticleFrench shoe exports grow faster than imports in 2021
In 2021, French footwear exports rose by 15 percent to €4.0 billion compared with 2020, when trade was affected by the outbreak of the Covid-19 pandemic, while imports grew by 12 percent to €6.7 billion. The sector continued to suffer a trade deficit, with exports only covering 59 percent of ...
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ArticleAldo’s North American creditors approve its restructuring plan
Aldo Group said that its North American creditors have voted in favor of its restructuring plan, almost two years after the footwear and accessories company filed for protection under Canada’s Companies’ Creditors Arrangement Act. However, the outcome of the procedure remains conditional to the creditors’ agreement for the international division, ...
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ArticleGrendene’s sales driven lower by Brazilian market
Grendene’s first-quarter gross revenues fell by 2.1 percent to 630.8 million reais (€120.3m) driven by an 8.9 percent drop in domestic sales to R$429.9 million (€82.0m), partially offset by a 16.4 percent increase in export revenues to R$200.9 million (€38.3m). Brazilian sales were affected by a challenging economic environment, characterized ...
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ArticleSteve Madden lacks visibility for year end
After posting stronger-than-expected first-quarter revenues, Steve Madden warned that it suffers a lack of visibility about the fourth quarter of 2022 due to the potential headwinds stemming from the macroeconomic environment. Despite renewed lockdowns in China, due to the country’s zero-Covid policy, the U.S. footwear and apparel company has not ...
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Skechers performs despite China, supply chain concerns
Net income jumped 23 percent to $121.2 million in the first quarter ended March 31 on 27 percent revenue growth to a record $1.82 billion versus $1.43 billion a year earlier. Skechers’ top and bottom-line gains were accomplished despite a challenging environment in the APAC region and persistent higher unit ...
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ArticleGales enters a partnership with MedResults Network
Gales has started a partnership with MedResults Network, a U.S. purchasing group that provides equipment to over 3,400 medical practices and med spas. Gales, based in Malibu California, was founded by Rob Gregg, who enjoys over ten years in footwear design, with the purpose to provide lightweight and protective shoes ...
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ArticleRussia seeks to replace Western footwear brands
Russia has ramped up footwear production and is seeking new ways of sourcing shoes abroad amid the exodus of Western brands, following the country’s invasion of Ukraine on Feb. 24 and subsequent international sanctions and voluntary withdrawal of some foreign companies. In March 2022, Russian footwear production climbed by 14.8 ...
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ArticleUin enters a collaboration with London’s National Gallery
Uin started a collaboration with London’s National Gallery to renew the brand’s shoes using designs inspired by masterpieces housed in the museum. The deal for the Spanish brand to acquire the creative rights, excluding China, for the new “A Timeless Journey” collaborative collection that features art pieces by era-defining impressionist ...
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ArticlePikolinos aims to be a leader in sustainability
Pikolinos decided in January to adopt a new corporate structure giving to the three children of the founder Juan Perán Ramos full control of the Spanish footwear company, which is expected to end the fiscal year finishing in April 2022 with revenues of around €100 million. Under the new organization, ...
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ArticleNearly half of U.S. shoppers to spend less on shoes
A survey released by the Footwear Distributors and Retailers of America (FDRA) indicated that 48 percent of U.S. consumers plan to spend less on shoes this spring than last year and that 49 percent of shoppers are putting off footwear purchases because of inflation. In March, footwear prices rose by ...
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ArticleTHG sees FY Ebitda margin in line with 2021
In 2021, THG, also known as the The Hut Group, suffered a decline in its gross operating margins due to adverse foreign exchange movements, investments, increasing raw material costs and freight costs which saw a marked acceleration in the second half of the year. The British online retailer expects this ...
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VF Foundation releases latest social impact report
In its second impact report, the VF Foundation, the philanthropic arm of VF Corp., reveals details of its humanitarian and community engagement, reaching out to more than three million people in 73 countries during the period between March 29, 2020, to April 3, 2021. Within the 12 months relevant ...
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ArticleCaleres expects to meet many ESG commitments ahead of 2025 schedule
Caleres has published its 2021 environmental, social, governance (ESG) report indicating the progess made last year and in early 2022 against its 2025 targets. The U.S. footwear company pointed out that it is on track to meet many of its commitments ahead of schedule. “Since we debuted our 2025 ESG ...
