Latest Headlines – Page 52
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ArticleAsos’ losses widen as shoppers cut back on spending
Asos reported wider interim losses as shoppers cut back on spending amid the cost of living crisis in the U.K. Financial analysts are divided on the company’s future prospects with one broker warning that the troubled company may have to raise more cash. In the first half ended Feb. 28, ...
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ArticleWolverine explores options for Sperry
Wolverine Worldwide reported better-than-expected first-quarter results and said it was exploring options for its Sperry footwear and apparel brand as it works to reshape its business amid a deterioration in market trends since the start of the year, macroeconomic concerns and a cold spring selling season that has hit consumer ...
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ArticleAmazon posts 9% sales increase in Q1
Amazon.com, Inc. posted net sales of $127.4 billion in the first quarter of 2023, representing a 9 percent increase versus the first quarter 2022. Excluding the $2.4 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, the sales increase was of 11 percent. The operating income ...
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ArticleAllbirds reports wider loss but outlines cost-saving measures
Having already revealed plans to slow the pace of U.S. store openings, and a movement to a distributor model in key international markets, Allbirds reported a net loss of $35,166,000 in the first quarter of 2023 against a loss of $21,878,000 a year earlier. Operating expenses, which included more than ...
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ArticleJD Sports in talks to buy Courir
JD Sports Fashion announced that on May 8 it entered into exclusive negotiations with the owners of Groupe Courir to buy the French chain of sportswear for €325 million euros in cash. The acquisition is seen as a good fit for the British brokerage Peel Hunt and will enable JD ...
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ArticleAlpargatas looks to boost efficiency, seeks new CEO as sales and margins decrease in Q1
Alpargatas reported a decline in sales volumes, revenues and margins in the first quarter of 2023, as it focuses on boosting operational efficiencies amid a “challenging” demand scenario and persistent inflation. The Brazilian owner of the flip-flop sandal brand Havaianas is also looking for a new CEO following the resignation ...
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ArticleAfter Reno, HR Group files for bankruptcy
After the German shoe retailer Reno filed for bankruptcy, its former parent company HR Group, one of the largest shoe retailers in the country, has gone down the same path. The group has applied for insolvency proceedings for nine companies - including Hamm Reno Group GmbH and Mayer Systempartner ...
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ArticleWeyco off to a ‘strong start’ in 2023 after sales increase 6% in Q1
Weyco Group generated sales of $86.3 million in the first quarter of 2023, a record for the first three months of the year and up by 6 percent from the previous record booked last year, as gains were posted in both its wholesale and retail segments in North America as ...
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ArticleNext sees spring sales hit by weak consumption and colder weather
Next maintained its full-year earnings guidance after recording a smaller-than-expected drop in first-quarter sales, but warned it expects a bigger decline in revenues this spring, due to the cost of living crisis and colder weather than last year. Total full-price sales were down by 0.7 percent in the 13 weeks ...
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ArticleRocky Brands suffers a sharp fall in Q1 sales due to excessive stocks at clients
In the first quarter of 2023, Rocky Brands suffered a 33.9 percent decline in sales to $110.4 million, driven by a 40.2 percent drop in wholesale sales to $80.1 million due to excess inventories at clients. Meanwhile, the company’s own retail sales increased by 3.1 percent to $29.5 million. Contract ...
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ArticleZalando near operating breakeven in Q1
Zalando was close to breakeven at operating level in the first quarter, but investors were spooked by news that demand remained “muted” and that orders came in below expectations, prompting a decline in the share price of the German online fashion retailer. Gross merchandise volume (GMV) rose by 2.8 percent ...
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ArticleNB Renaissance takes over U-Power
NB Renaissance signed a binding agreement to buy U-Power, an Italian producer of safety footwear. No financial details were released. The investment firm will acquire all the company but Franco Uzzeni, who founded U-Power in 2006, will reinvest part of his proceeds in the footwear company and obtain a 30 ...
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ArticleMarc O’Polo strengthens franchise business in the DACH region
The Swedish-German fashion label Marc O’Polo is taking steps to strengthen its franchise business in Germany, Austria and Switzerland, collectively known as DACH, with relocations and new openings. In addition to its online and offline retail activities, the franchise business “is an important component of Marc O’Polo’s omnichannel strategy ...
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ArticleVulcabras posts strong Q1 results
Despite unstable macroeconomic conditions and a challenging retail environment, the Brazilian Vulcabras group reported record revenues and strong gross margin and Ebit growth in Q1, which ended March 31. Ebit rose by 45 percent to 93.2 million Brazilian reais (€16.7m) as the year-over-year gross margin grew by 430 basis points ...
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ArticleHooijer Footwear Group expands brand portfolio
The Dutch distribution and wholesale company Hooijer Footwear Group is expanding its brand portfolio by taking over the distribution of another internationally renowned brand. For the coming season - starting from June - Hooijer will be responsible for sales in Germany, Austria and Switzerland, collectively known as DACH, of ...
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ArticleAuthentic Brands Group buys the rights to the Vince brand
Authentic Brands Group (ABG) is purchasing the intellectual property of the Vince brand from Vince Holding Corp. for $76.5 million and a 25 percent stake ABG Vince, the vehicle through which the acquisition is being made. A part of the deal, Vince Holding will enter into an exclusive, long-term license ...
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ArticleSkechers lifts full-year guidance after strong Q1, but braces for continued domestic wholesale headwinds
Skechers raised its guidance for earnings and revenues for the full year after reporting better-than-expected results in the first quarter, when its top line rose by a reported 10.0 percent compared to the year earlier to reach a new record for the period of $2,001.9 million, coming in above an ...
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ArticleCrocs raises FY revenue outlook, banking on markets outside U.S. to pace growth
Markets outside the U.S. are forecast to generate Crocs’ highest FY23 revenue growth rates and help the group deliver 11 to 14 percent reported sales expansion this fiscal year to a range of $3.95 to $4.05 billion. Crocs brand sales are projected to increase by 7 to 9 percent with ...
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ArticleInterim sales rise at Primark, but caution sounded on outlook
Primark reported a sharp rise in half-year sales, driven by higher prices and a return to physical stores after the Covid-19 pandemic, but remained cautious about its future performance amid the cost-of-living crisis and persistent inflation affecting European and U.S. clients. Associated British Foods (ABF), the parent company of the ...
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ArticleDeichmann and DHL launch joint delivery station test project
Deichmann has launched a new pilot project in partnership with the logistics group DHL which will allow customers to collect or deliver a parcel in one of the German shoe retailer’s stores and seize the opportunity for some quick shopping. The new service points, dubbed DHL Packstations, are being ...
