Latest Headlines – Page 81
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ArticleNice Footwear improves profitability despite revenue decline
In the full year that ended April 30, 2021, Nice Footwear increased earnings before interest, tax, depreciation and amortization (Ebitda) to €2.364 million from €1.781 million a year earlier despite a decline in revenues to €21.144 million from €24.270 million over the period due to the impact of the Covid-19 ...
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ArticleILO adopts code of practice for shoe and apparel manufacturing
To provide a practical basis for employers, workers and governments to work together to advance an occupational safety and health (OSH) prevention culture in the textile, clothing, leather and footwear manufacturing sector, the International Labour Organization (ILO) has worked out its first code of practice on safety and health for ...
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ArticleShoe Zone expects to be profitable but warns on costs, supplies
The U.K. footwear retailer Shoe Zone expects to swing to an annual profit, but warned that Covid-19, supply-chain and inflationary issues still present challenges over the next 12 months. The company said pre-tax profit for the year ended Oct. 2 would be at least £6.5million (€7.6m-$8.8m) compared to the £14.6 ...
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ArticleLionRock bought 51% of Clarks for £1
The Hong Kong-based private equity firm LionRock Capital paid £1 (€1.2-$1.4) for a 51 percent stake in Clarks, when it took over the British footwear company earlier this year, according to documents filed with the British registrar of companies, Companies House. The group’s annual report showed that C&J Clark Limited ...
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ArticleFerragamo hires 2 new managers
The Italian fashion company Salvatore Ferragamo has bolstered its management structure for North America and the EMEA region, with the nomination of two new managers. Daniella Vitale will join Ferragamo on Oct. 18 in the role of CEO for North America while Vincenzo Equestre has already covered the position of ...
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ArticleAsos CEO quits as rising costs lead to profits warning
The chief executive of Asos, Nick Beighton, is departing the British online fashion retailer in a shock move as the company issued a profits warning, citing supply chain issues and rising costs. Asos is facing “notable cost headwinds” including inbound freight fees, wage inflation, outbound delivery costs and Brexit duty. ...
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ArticleSpartoo H1 sales up by 19%
The French footwear and fashion e-retailer Spartoo posted a 19 percent year-on-year increase in gross merchandise value (GMV) to €106.0 million during the first half of 2021 driven by the expansion of its fashion item offering and a 46 percent rise in its third-party services offering. Boris Saragaglia, the company’s ...
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ArticleFootwear stocks weaker in Q3 on profit-taking
Overall, the price of footwear stocks dropped in the third quarter of 2021 compared with the previous three months on profit-taking after the sector had enjoyed a strong rebound in the first half of the year with the re-opening of the economy, following the easing of Covid-19-related restrictions and the ...
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ArticleRizzo obtains an expensive SEK 30m loan
Rizzo Group, the troubled Swedish retailer of bags, footwear and accessories, reached an agreement to obtain a SEK 30 million (€3.0m-$3.4m) loan from Zenith Management AB. Rizzo has the right to repay of the loan in shares. The loan bears an annual interest rate of 15 percent and has to ...
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ArticleItalian footwear industry faces 2 years of M&A activity
The Italian footwear industry could undergo a couple of years of “significant” merger and acquisition activity as foreign investors, especially French and Chinese firms, large Italian groups and investment funds seek specialized manufacturers, according to Tommaso Cancellara, general manager of the Italian footwear association Assocalzaturifici. “Foreign investors are welcome because ...
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ArticleSkechers adjusts prices to offset higher input costs
Skechers started making price adjustments at the start of this year to counter foreign exchange headwinds and other input cost pressures. It is looking at some other offsets for the recent increases in raw material, transportation and logistics costs, without affecting its “reasonable price” marketing appeal. The company told investors ...
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ArticleVivarte sells Minelli to the owners of San Marina
The ailing French retailer Vivarte has sold its footwear and accessories brand Minelli to the businessmen Stéphane Collaert and Laurent Portella, who run the footwear brand San Marina. Collaert was involved in the purchase of San Marina, in February 2020, from Vivarte. Created in 1973, Minelli had been part of ...
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ArticleFootwear Unlimited obtains Frye footwear license from ABG
Footwear Unlimited, a U.S. full-service company that designs, manufactures and distributes footwear, has obtained the footwear license for the Frye brand from Authentic Brands Group (ABG). Under the long-term partnership, Footwear Unlimited will be Frye’s partner in the U.S. The agreement covers the brand’s casual and dress boots and shoes, ...
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ArticleC-Suite interview: Rohde launches its B2C business in Germany
On Sept. 17, Rohde launched its business-to-consumer (B2C) online platform for the German market. In November 2020, the German footwear company’s business-to-business (B2B) e-commerce service had already come on stream and it currently manages 30 percent of re-orders, or about 8 percent of overall sales. Rohde sees the B2C service ...
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ArticleBoohoo lowers sales guidance as higher costs squeeze H1 profits, margins
The British fast-fashion retailer Boohoo has warned of slowing sales growth and a squeeze on profit margins from higher costs as interim profits fell by a fifth. Adjusted pre-tax profit for the six months to Aug. 31 fell to £63.8 million (€74.3m-$86m) from £79.4 million a year earlier as revenues ...
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ArticlePittards returns to profits as sales recovery gathers momentum
Pittards, the British leather and leathergoods manufacturer, which owns the brand Daines & Hathaway, returned to profit in the first half and said there are “clear signs” a recovery from the Covid-19 pandemic was gathering momentum with orders at their highest level for two years. Pre-tax profit for the six ...
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ArticleANWR Group 2020 revenues stable
ANWR Group weathered out the Covid-19 pandemic to end 2020 with a 0.2 percent increase in revenues to €17.8 billion. Last year posed a tough challenge to ANWR, but the group was able to withstand the crisis thanks to its financial services and the sports business, as well as the ...
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ArticleBritish luxury brands face duty-free hit
The U.K.’s luxury goods sector is set to feel the full impact of the government decision to axe tax-free shopping as Covid-19 travel restrictions come to an end and a key Chinese week-long public holiday looms, a survey showed. Latest data from the e-commerce specialist ESW revealed that 46 percent ...
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ArticleCCC continues to expand its digital offer
The Polish footwear company CCC has appointed Adam Marciniak as vice president responsible for technology and digitization, which also includes e-commerce. Marciniak has worked for various banks in Poland for the past 20 years. “Our company has undergone an enormous change in the field of new technologies and digitization in ...
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ArticleHigg starts traceability program for supply chain sustainability
Technology platform Higg has launched a new traceability program developed in collaboration with software, cloud and data processing specialists atma.io, FibreTrace and TrusTrace. The new technical solution aims to offer comprehensive transparency across the global supply chain – enabling brands to highlight and disclose sustainability information on their own and ...
