Latest Headlines – Page 10
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ArticleJimmy Choo’s sales fall on weaker consumer demand
In the second quarter ended Sept. 30, Jimmy Choo posted revenues of $132 million, down by 7.0 percent year-over-year on a reported basis and by 9.2 percent at constant currency rates due primarily to a softening in consumer demand, mainly in the Americas. Revenues in the Americas declined by 11.6 ...
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ArticleManitobah appoints a new CEO
Manitobah, an Indigenous-rooted footwear brand known for its Manitobah mukluks and founded in Winnipeg in 1997 by Sean McCormick, has appointed a new senior management. Carolyn MacNaughton will assume the role of chief executive officer, Tom Hildrum will step into the position of chief financial officer and Mike Wodtke has ...
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ArticleWarson to provide occupational footwear under Roxy, DC brands
Warson Brands signed a licensing agreement with Authentic Brands Group (ABG) to design, develop and distribute occupational footwear for men and women under the DC Shoes brand as well as women’s styles under the Roxy brand in the U.S., Canada and Europe, including the U.K. “We look forward to expanding ...
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ArticleVeldskoen Shoes diversifies into the travel industry
Veldskoen Shoes, a South African footwear brand, is expanding into the travel industry through a partnership in the U.S. with Rhino Africa Co, a safari company. The partners have launched Veldskoen Travel, a digital travel service “designed to provide unforgettable travel experiences to Africa,” it said in a statement. “Veldskoen’s ...
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ArticleBirkenstock appoints a managing director for Greater China
Birkenstock has appointed Tiffany Wu to the newly created position of managing director for Greater China, effective Nov. 1. She reports to Klaus Baumann, the group’s chief sales officer. The German footwear manufacturer said that it currently operates “a rapidly growing e-commerce business in China, which will be supplemented by ...
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ArticleLegero United wins eAward business prize for its ecological database
The footwear group Legero United was awarded the Austrian business prize eAward for its ecological database. The company won the award, one of the largest IT business awards in Austria and German-speaking countries, in the “Sustainability and smart data” category. The company’s own ecological database allows to calculate ...
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ArticleStuart Weitzman sales drop on lower off-price shipments, slower recovery in China
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $52.6 million in the fiscal first quarter ended on Sept. 30, down by 19 percent year-over-year on a reported basis and by 18 percent at constant currency rates. “Results in the quarter were pressured against ...
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ArticleTod’s’ sales growth stalls in Q3
Tod’s‘ sales in the third quarter of 2023 rose by 1 percent year-over-year to €259.0 million due to a challenging comparison base and adverse exchange rates. At constant currency rates, the top line grew by 5 percent. In the first half of the year, the Italian fashion group had enjoyed ...
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ArticleGeox’s store rationalization ‘almost’ completed
Geox said that the rationalization of its network of mono-brand stores is “almost” completed. The Italian footwear company has slashed the network from 974 units at the end of 2019 to 656 at the end of September and expects to finish 2023 with 655 stores. Over the past 12 months, ...
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ArticleAllbirds sees Q4 sales down by 15-22%
Citing a negative impact on revenues due to its transition to a direct selling model in both Canada and South Korea, as well as plans for “heightened” promotional activity during the holiday season, Allbirds expects fourth-quarter revenues to sink by 15 to 22 percent to a range of $66 million ...
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ArticleAlpargatas reports a Q3 loss despite improving trends
Despite reporting 23 percent less unit volume to 51 million pairs, a 10.4 percent drop in period revenues to $896 million (€171.7m), and a net loss of R$8.5 million (€1.6m), Alpargatas realized improving trends in product sellthrough levels in the third quarter ended Sept. 30. The result was a normalization ...
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ArticleWolverine lowers outlook as overhaul moves forward
Wolverine World Wide’s third-quarter results weren’t pretty, but they did exceed Street estimates on several fronts as the Merrell, Saucony, and Sweaty Betty parent moved forward with numerous initiatives aimed at reducing annualized costs by $215 million and turning the company’s fortunes in the right direction again. Net income ...
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ArticleWolverine accelerates its transformation plan
Wolverine World Wide, the owner of a large brand portfolio, including Merrell, Saucony, Sperry, Sweaty Betty, Hush Puppies and Wolverine, announced actions to accelerate its ongoing strategic transformation into a “brand-led and consumer-obsessed growth company.” Chris Hufnagel, President and CEO, said: “We are moving with speed and urgency to transform ...
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ArticleSteve Madden enjoys strong growth in Europe
In the third quarter of 2023, Steve Madden enjoyed strong growth in Europe, but the performance in the region was not sufficient to enable the U.S. company to increase overall sales during the three-month period. “Our EMEA (Europe, Middle East and Africa) region was a standout,” commented Edward Rosenfeld, the ...
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ArticleWeyco expects another sales decline in Q4
Weyco Group said it anticipates another decline in sales in the fourth quarter of 2023 in the face of a drop in consumer demand and an inventory backlog among wholesalers. “Not only are we going up against a strong fourth quarter last year, but retail market conditions remain challenging as ...
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ArticleGerman online footwear sales down 18.6% in Q3
Online sales continued to drop in Germany in the third quarter of 2023 after two weak quarters this year and a decline in 2022, with the footwear sector again plummeting amid heightened uncertainty, a survey from the Federal association of e-commerce and mail order trade, BEVH, showed. In particular, ...
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ArticleBirkenstock pays down its debt
Birkenstock Holding PLC, the Jersey -registered and New York Stock Exchange listed company that controls Birkenstock, made early repayments on loans issued for the acquisition of the German sandal maker by the U.S. private equity L Catterton in April 2021. It used the net proceeds from its initial public offering ...
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ArticleThe Footwear Collective seeks to drive industry’s transformation towards circularity
Athletic and outdoor footwear brands Brooks Running, New Balance, On, Vibram, Crocs and Ecco, along with US lifestyle brand Reformation and U.S. retailer Target, have partnered with EarthDNA to launch The Footwear Collective (TFC), a non-profit initiative dedicated to uniting the global footwear industry to accelerate the ...
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ArticlePrimark expected to grow sales and earnings in 2024
Primark, the fast-fashion retailer owned by Associated British Foods (ABF), posted sales of £9.0 billion (€10.4bn) in the full year ended Sept. 16, up by 17 percent at actual exchange rates and 15 percent at constant currency rates. Like-for-like sales growth was 8.5 percent for the year. ”Trading was much ...
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ArticleBoot Barn cuts guidance as sales continue to soften through October
Boot Barn cut its guidance for the full year after its sales performance progressively worsened during the second quarter ended on Sept. 30 and continued to soften at the start of its third quarter, amid signs of slowing consumer demand. Boot Barn now expects to post full-year sales of $1,677 ...
