Latest Headlines – Page 73
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ArticleClarks hires the head of Champion as its new CEO
Clarks announced that Jonathan Ram will be its new CEO in April, taking the place of Victor Herrero. Ram will be leaving the U.S. clothing group HanesBrands, where he is president of global activewear, on March 31 to join the British shoemaker. Ram already spent more than four years in ...
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ArticleItalian shoemakers ask for aid to mitigate the impact of Ukrainian war
The Italian footwear association Assocalzaturifici is asking for state aid to mitigate the negative impact Russia’s invasion of Ukraine has had on business. “We feel like we are back in March 2020, in the middle of the pandemic,” said the president of Assocalzaturifici, Siro Badon, during a roundtable at Micam, ...
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ArticleTod’s swung into an operating profit in 2021
Tod’s beat market expectations with its 2021 earnings and expressed optimism for the current year. Nevertheless, for the third year in a row, the Italian shoe maker decided to omit paying a dividend on is full-year results. The company posted earnings before interest and taxes (Ebit) of €24.2 million in ...
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ArticleThe war in Ukraine hits the German shoe industry after a strong 2021
HDS/L, the federal association of the German footwear and leather goods industry, brushed a cautious picture of the situation in the sector, with new global challenges looming just as the coronavirus pandemic loosened its grip on Europe. In 2021, sales in the German shoe industry increased by a double-digit ...
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ArticleBoohoo's sales slow down in Q4
The British online fashion retailer Boohoo confirmed that full-year earnings will be in line with its reduced guidance after reporting a slowdown in revenue growth in the fourth quarter. The group issued a profit warning last December, citing higher product return rates, disruption to international deliveries and higher inbound freight ...
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ArticleSchuh Group posts strong sales growth
In the fourth quarter ended Jan. 29, Schuh Group, an operating unit of the U.S.-based Genesco, posted an operating profit of $9.8 million against an operating loss of $3.6 million. Total sales at the 123-door, U.K.-based retailer rose nearly 33 percent to $129.0 million from $97.0 million as digital penetration ...
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ArticleVulcabras continues to shrink in women’s shoes
Vulcabras’ net income rose by 49 percent to 81.3 million Brazilian reais (€14.6m) in the fourth quarter of 2021. Operating earnings (Ebit) went up by 58 percent to R$89.3 million (€16.1m) in the period ended Dec. 31, as the gross margin hit 36.1 percent versus 32.7 percent a year earlier ...
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ArticleThe Russian footwear market faces a perfect storm
The Russian market is braced for major turbulence after dozens of footwear brands pulled out of the country following the Russian invasion of Ukraine and the subsequent introduction of international sanctions. Adidas, Nike and Puma have joined the long list of international brands that have quit the country’s market, along ...
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ArticleHotter plans to increase its European suppliers
Hotter Shoes is looking for additional European suppliers as it plans to increase the frequency of its collection releases and focus on digital sales. The British brand focuses on the over 55 year-old demographic with a high level of disposable income. It noted that the cohort has become more ...
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ArticleFerragamo is back in black
Salvatore Ferragamo swung into a profit in 2021 as it recovered from the loss caused in 2020 by the Covid-19 pandemic but the company did not provide a guidance for the current year due to an “unpredictable” outlook. The broker Equita noted that the company, which had already released its ...
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ArticleWeyco posts strong quarterly results
Weyco Group’s net income soared by 103 percent to $10.34 million from $5.1 million in the fourth quarter ended Dec. 31. Operating earnings rose by 62 percent to $12.78 million from $7.9 million, but the year-over-year operating margin slipped slightly to 12.6 percent from 12.8 percent. Total revenues stepped 64 ...
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ArticleItalian footwear industry revenues rise more than expected in 2021
Revenues of Italian footwear manufacturers rose by 18.7 percent in 2021 to €12.7 billion, according to an estimate made by Confindustria Moda’s research center. The estimate is above a prior forecast of a 16.2 percent rise for 2021, but remains 11 percent below the revenues achieved in 2019, the last ...
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ArticleVito Artioli passes away
Vito Artioli passed away at the age of 85 in Tradate, north of Milan, where is located the family company Calzaturificio Star, a producer of luxury men’s footwear under the Artioli brand. Artioli was chairman of the Italian footwear association Assocalzaturifici, then called Anci, from 2007 to 2011 and headed ...
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ArticleMicam to host 821 brands
After having been postponed to March 13-15 from Feb. 20-22 due to the uncertainty and travel restrictions caused by the surge in Covid-19 cases driven by the Omicron variant, Micam is ready to kick off with 821 brands. The previous edition of the footwear show, held last year from Sept. ...
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ArticleRocky Brands targets savings as Q4 net sales soar
U.S. footwear company Rocky Brands said it is targeting cost savings and synergies after integrating Honeywell International’s performance and lifestyle footwear business last year as it reported a 93.4 percent surge in fourth-quarter net sales. The company, which called the $230m acquisition “transformational”, said sales for the three months to ...
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ArticleSnipes with second major acquisition in the U.S. since December
Snipes continues its expansion in the U.S. with the acquisition of New England-based sneaker retailer Expressions, which operates 35 stores in Massachusetts, Connecticut and Rhode Island. Terms of the deal were not disclosed. Expressions was founded in 1989 as a fashion-oriented family business. In the years that followed, the company ...
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ArticleOrthoLite launches a recyclable, compostable midsole foam
OrthoLite has launched Cirql, which it claims to be the first-ever ethylene-vinyl acetate (EVA) plastics free, recyclable and compostable midsole foam “with an end of life solution” that can be applied for athletic, casual, fashion, work and children footwear. The U.S. producer of insoles, which is celebrating its 25th anniversary ...
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ArticleSberBank pulls out of the EU
The Russian leader SberBank is withdrawing from the European market, after being hit by massive financial sanctions in retaliation for Russia’s invasion of Ukraine. “Sberbank has decided to withdraw from the European market. The group’s subsidiary banks face abnormal outflows of funds and threats to the security of their employees ...
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ArticleGlobal footwear market seen at $440bn in 2026
In 2020, the global footwear market was estimated at $384.2 billion and is expected to rise by a compound annual growth rate (CAGR) of 2.3 percent to reach $440 billion in 2026, according to Reportlinker, a research institute using artificial intelligence to compile reports. Casual footwear, one of the segments ...
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ArticleZalando releases a disappointing 2022 guidance
Zalando posted better-than-expected sales in 2021 but released a disappointed guidance for 2022, which prompted the company’s share price to drop nearly 10 percent on the day. In the full year ended Dec. 31, the German online fashion retailer posted a 29.7 percent increase in revenues to €10.35 billion, compared ...
