Latest Headlines – Page 88
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ArticleSpartoo makes first step towards an IPO
The French e-commerce Spartoo said that the French financial market regulator AMF has approved its registration document in view of a possible initial public offering (IPO) on the Paris stock exchange. Boris Saragaglia, Spartoo’s co-founder, chairman and CEO said “we are convinced that a stock market listing will enable us ...
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ArticleSecond-hand marketplace Depop bought for $1.625bn
Etsy, an American e-commerce company focused on handmade or vintage items and craft supplies, is buying Depop, a London-based marketplace for the resale of fashion items, for $1.625 billion consisting primarily of cash. The transaction is expected to close during the third quarter of 2021. Depop will continue to be ...
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ArticleGerman retailer Peek & Cloppenburg buys Magasin du Nord
Debenhams’ Danish department store Magasin du Nord has been acquired by the German retailer Peek & Cloppenburg. The Düsseldorf-based company bought the retail chain’s seven stores for an undisclosed amount, marking its debut in the Scandinavian market after its expansion into Eastern Europe. Established in 1868, Magasin du Nord ...
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ArticleWestfalika changes its operating model with Ozon
OR Group, the Russian group previously known as Obuv Rossii, has changed its working relationship with the Russian e-commerce platform Ozon. Since May, the collaboration is based on the fulfilment by seller model, under which goods are sold on Ozon but stored in an OR Group warehouse. Upon receipt, an ...
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ArticleANWR’s financial services offset declines at retail
The German-based ANWR Group maintained its overall invoiced purchasing volume virtually stable at €17,845 billion in 2020, compared with €17,804 million a year earlier, thanks to growth at its financial services business which offset a decline in retailing caused by the Covid-19 pandemic. Sales for the footwear business fell by ...
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ArticleGenesco exceeds its expectations in Q1
In the first quarter ended on May 1, Genesco “meaningfully” exceeded its expectations by posting a 93 percent year-over-year increase in net sales to $539 million. Compared with two years ago, revenues were up by 9 percent despite the ongoing impact of the Covid-19 pandemic, especially in the U.K. and ...
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ArticleJimmy Choo reduces its operating loss
In the fourth quarter ended March 27, Jimmy Choo posted revenues of $124 million, up by 15.9 percent compared to the prior year on a reported basis and by 10.3 percent on a constant currency basis. The operating loss was cut to $18 million from $23 million a year earlier ...
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ArticleNike stops supplying Designer Brands
Nike has decided to stop supplying Designer Brands as the U.S. footwear company, largely known for its DSW banner, builds up its direct-to-consumer strategy while increasing its exposure to athletic shoes. Nike is engaged in a policy of eliminating many “undifferentiated” wholesale accounts. Nike, which is Designer Brands main vendor ...
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ArticleCaleres' Q1 sales jump 61% led by Famous Footwear
Caleres’ sales in the first quarter ended on May 1 jumped by 60.9 percent year-on-year to $638.6 million and its bottom line moved into positive territory, lifted by record quarterly earnings and sales at its Famous Footwear retailer business and an “accelerated recovery in the marketplace”. Sales for Famous Footwear ...
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ArticleHotter slated for stock market listing in the fourth quarter
Electra Private Equity plans to list Hotter Shoes on the AIM segment of the London Stock Exchange in the fourth quarter of this year as part of its efforts to maximize the value of its investments and return cash to shareholders. The private equity also intends to list the restaurant ...
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ArticleSchuhe.de reports strong first quarter as consumer behavior shifts
Comfortable and functional shoes have driven a surge in demand on ANWR Media’s retail platform www.schuhe.de in the first quarter. Since the beginning of the coronavirus pandemic, online retail has gained even more traction, and more and more retailers have relied on www.schuhe.de, the company explained. Click & Collect orders ...
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ArticleSwiss reject new trade deal with EU
The Swiss cabinet has rejected a comprehensive trade agreement with the EU, known as the EU-Swiss Institutional Framework Agreement. On May 26, the government said that there remain “substantial” differences between Switzerland and the EU and that the conditions for signing the agreement were not met. It added that it ...
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ArticleWolverine Worldwide appoints new executives for the group and Sperry
Isabel Soriano has been named president of international for Wolverine World Wide, Inc. Soriano joined the group in 2018 as vice president and managing director of EMEA, responsible for leading all of the company’s brands in the region, including Merrell, Saucony, Sperry, Cat Footwear, Hush Puppies and Keds. With her ...
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ArticleGenesco names former Deckers CEO to its board, rebuffs Legion’s candidates
Genesco has decided not to nominate any of the seven board candidates presented by Legion Partners Asset Management, but did appoint Angel Martinez, who was chief executive officer of Deckers Brands from 2005 until his retirement in 2016, to its board. It added that its nominating and governance committee noted ...
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VF is positive about 2022 as growth accelerates
VF Corp ended its fiscal year on a high note, prolonging a recovery that started in the second quarter. For the fourth quarter ended March 31, the company confirmed that its momentum is accelerating, delivering revenues that increased by 23 percent to $2,582 million, or by 19 percent in constant ...
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ArticleShoe Carnival continues to break records
After posting its best ever fiscal fourth quarter, Shoe Carnival booked record quarterly net sales of $328.5 million in the first quarter ended May 1, a 122.7 percent increase from a year earlier, despite substantially all of its stores being closed for about half of the quarter due to the ...
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ArticleUBC signs a license agreement with Head
The Italian company United Brands Company (UBC) has signed a license agreement with Head to produce sneaker collections for men, women and children under its name. The first collection is scheduled for the spring/summer 2022 season. Under the multi-year agreement, UBC will also be in charge of distributing the shoes, ...
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ArticleSpinnova and KT Trading develop a fiber made from leather waste
Spinnova, a Finnish manufacturer of textile fibers deriving from wood or waste, and KT Trading, a Swiss firm specialized in the sourcing and trading of materials for the leather industry, have developed a fiber made from leather waste. “Following thorough research and testing, Spinnova and KT Trading have succeeded in ...
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ArticleRussian shoemaker Bris-Bosfor under court administration
The arbitration court of Krasnodar Krai has ordered a surveillance procedure for Bris-Bosfor following an insolvency request. The company, founded in 1999, is one of the largest footwear producers in southern Russia. An interim management was appointed and the supervision period is scheduled to last until Oct. 20. Bris-Bosfor manufactures ...
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ArticleAra Shoes says Russia is currently one of the best markets in Europe
The Russian shoe market is currently one of the best performing in Europe, where other markets have been more severely hit by the Covid-19 pandemic, Lillian Roor, sales director for Russia of the German company Ara Shoes, told the Russian publication Shoes Report. In the interview, she says that ...
