Latest Headlines – Page 6
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ArticleNew delisting attempt for Tod’s
After failing at the end of 2022, Tod’s’ key shareholders are trying again to delist the Italian company by offering a higher price. Financial analysts are divided on whether the new attempt will be successful. Under the current offer, Crown Bidco, a company controlled by L Catterton, a private equity ...
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ArticleAlpargatas’ Q4 results hit by write-offs
Write-offs totalling 64 million Brazilian reais (€12.0m) in raw materials and finished goods affected fourth-quarter adjusted Ebitda at Alpargatas. The Brazilian footwear group ramped up its capital discipline in the latter months of 2023 because of a “significant reduction” in sell-ins, itself due to high levels of inventory at retail. ...
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ArticleCreditors clear Richter’s restructuring plan
The insolvent Austrian company Ferdinand Richter, the oldest children’s shoe manufacturer in Europe, will continue operations after creditors approved a restructuring plan by a large majority. Under the restructuring plan, creditors will receive 20 percent of the claimed sums, 5 percent of them immediately. The initial cash sum is ...
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ArticleStuart Weitzman’s sales trend improves
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $82.2 million in the fiscal second quarter ended on Dec. 30, down by 4 percent year-over-year on a reported basis and by 3 percent at constant currency rates. Despite still being negative, the trend was ...
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ArticleJimmy Choo’s Q3 sales and profitability decline
In the third fiscal quarter ended on Dec. 30, Jimmy Choo posted revenues of $166 million, down by 1.2 percent compared with the prior year on a reported basis and by 3.0 percent at constant currency rates. The brand’s retail sales were approximately flat, while wholesale revenue decreased by a ...
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ArticleHow Kidderminster Footwear weathered Brexit
Like other British exporters, Kidderminster Footwear suffered the double-whammy of the Covid-19 pandemic, which broke out in Europe in the latter part of the first quarter of 2020, and the UK’s departure from the European Union on Jan. 1, 2021, the so-called Brexit. The company states that its business, excluding ...
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ArticleVF starts a strategic review of its assets
VF Corp., whose current portfolio includes The North Face, Vans, Timberland and Dickies, has initiated a strategic review of its brand assets. The announcement comes after the company’s shareholder Engaged Capital made in October a presentation “highlighting the actionable and significant opportunities for long-term value creation at the company.” According ...
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ArticleParallel imports rise in Russia
Parallel imports of fashion goods in Russia are increasing despite calls by Russian footwear manufacturers for a clampdown. A surge in Russian shoe imports at the end of 2023 was primarily attributed to the parallel imports, disclosed Igor Ulyanov, vice president of the Russian union of light industry, Soyuzlegprom. In ...
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ArticleDeckers announces CEO change as record-breaking streak continues
After another record-breaking quarter, Deckers has announced that Dave Powers will retire as president and chief executive officer on Aug. 1 and will be replaced by the current chief commercial officer, Stefano Caroti. Powers retires after 13 years at the helm, during which Deckers grew explosively, although he will continue ...
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ArticleLenzing, Recyc Leather launch Pélinova with Ganni’s Slouchy Boots
Lenzing, an Austrian producer of wood-based specialty fibers, has partnered with Recyc Leather, a leather alternative expert, to introduce Pélinova, an innovative material that fuses Lenzing’s Tencel Lyocell fibers and recycled leather fibers for high-end fashion applications. The duo joined forces with the Danish brand Ganni to bring the material ...
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ArticleSkechers cautiously optimistic on wholesale sales turnaround, DTC growth seen continuing
Skechers is cautiously optimistic about prospects for a turnaround in its wholesale business in 2024. Its direct-to-consumer (DTC) business is expected to continue growing, although likely at a slower pace than last year, as it reports that sales in the last quarter of 2023 inched up by 4.4 percent to ...
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ArticleNRW-Forum in Düsseldorf showcases sneakers in upcoming exhibition
From popular street shoes worn by billions of people throughout the world to cult objects that epitomize a lifestyle, reflect socio-cultural changes over the years, and even enter the realm of high fashion: sneakers take center stage at a new exhibition opening on Feb. 17 at the NRW-Forum in Düsseldorf, ...
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ArticleBoot Barn sees Q4 sales drop as same-store sale headwinds continue, bad weather hurts business
Boot Barn now expects sales for fiscal year 2024 to stagnate, once again cutting its top-line guidance as revenues from new stores are offset by a continued decline in same-store sales and after poor weather in January led to a “significant disruption” in business and contributed to a sharp decline ...
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ArticleH&M appoints a new CEO
The board of H&M Hennes & Mauritz has appointed Daniel Ervér, responsible for the H&M brand, as the new president and CEO of the Swedish fashion retailer, with immediate effect. He succeeds Helena Helmersson, who has decided to step down as CEO and leave the group. Ervér, born in 1981, ...
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ArticleHow Expo Riva Schuh continues to modernize and expand its international reach
Expo Riva Schuh & Gardabags and its stakeholders are investing to modernize the trade show and expand its pool of exhibitors and buyers. In an exclusive interview with Shoe Intelligence, Alessandra Albarelli, the general manager of Riva del Garda Fierecongressi, outlines the strategy enacted to enable the event to continue ...
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ArticleSanctions weigh on Turkish plans to expand exports to Russia
A fresh round of U.S. sanctions is reportedly jeopardizing the planned growth of Turkish footwear exports to Russia and other post-Soviet countries. Turkish footwear companies are looking to expand exports to Russia, Central Asia and the Middle East to compensate for the losses suffered in Europe, according to the Turkish ...
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ArticleThe stocks of footwear companies inched up in Q4
The prices of stocks monitored by Shoe Intelligence grew by 4 percent on average in the fourth quarter of 2023, compared with the previous three months, but trading remained volatile, with significant fluctuations among the companies of the cohort. The quarter was marked by the initial public offering (IPO) of ...
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ArticleTod’s hints at positive profit news as sales momentum continues
Diego Della Valle, the chairman and CEO of Tod’s, said he was “very positive” about profits and growth potential at the Italian fashion house after it reported 2023 figures that showed continuing sales momentum. Full-year sales increased by 11.9 percent last year to reach €1,127 million, growing by 14.0 percent ...
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ArticleC-Suite interview: Rohde enters the U.S. market and expands its European online business
Rohde is continuing its recovery by entering the U.S. market and expanding to most of Europe its business-to-consumer (B2C) online platform, which is currently limited to Germany. On May 3–4, 2023, Rohde took part as an “education sponsor” in the Leadership Conference of the US National Shoe Retailers Association held ...
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ArticleRevenues fall at Dr. Martens as U.S. business remains out of step
Dr. Martens’ revenues fell by a fifth during the key Christmas period because of continuing weak performance in the US and a slump in wholesale demand. The British footwear company, which issued four profit warnings last year, posted revenues of £267 million (€313m) for the last three months of 2023, ...
