Latest Headlines – Page 14
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ArticleNext lifts guidance again as strong summer, wage rises boost sales
Next lifted full-year guidance for the third time in four months after better-than-expected summer sales and said easing inflationary pressures could see a fall in prices next year. Pre-tax profits are now forecast to come at £875 million (€1bn) from a previous guidance of £845 million (€974.2m), with the brand ...
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ArticleHuntsman launches a liquid thermoplastic polyurethane for midsoles with framas
Huntsman said that it has developed a liquid thermoplastic polyurethane (LTPU) that enables the rapid manufacture of high-performing midsoles and is “aligned with the circularity ambitions of brands manufacturing sports and athleisure footwear.” The system is being launched jointly with framas, a German firm specializing in injection moulding and plastic ...
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ArticleChina becoming more challenging for foreign investors - AmCham Shanghai
Sentiment about doing business in China is at a record low as the country becomes more challenging for foreign investors, according to a survey released by The American Chamber of Commerce in Shanghai (AmCham Shanghai). “U.S.-China bilateral tensions, Covid disruptions and macroeconomic pressures, member companies report worsening business results and ...
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ArticleBrazil’s footwear exports continue to decline
In August, Brazilian footwear exports were down by 12.8 percent year-over-year in volume to 9.34 million pairs and by 18.6 percent in value to $95.6 million, according to data released by the Brazilian footwear association Abicalçados. In the first eight months of 2023, shoe exports totaled 82.28 million pairs, down ...
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ArticleBirkenstock’s 9-month sales up 21%
Birkenstock’s sales in the nine-month period ended June 30, 2023, rose by 21 percent to €1,117 million as the number of units sold grew by 5 percent and the average selling price increased by 15 percent. Direct-to-consumer penetration grew to 37 percent of revenues over the period from 34 percent ...
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ArticleCoats Footwear joins forces with Lenzing
Coats Footwear has entered a collaboration with the Austrian-based Lenzing Group to create the footwear industry’s first synthetic-free engineered uppers and fabrics. The companies have combined Coats Footwear’s ProWeave technology with Lenzing’s Tencel Lyocell Filament to create a “dynamic re-imagined footwear uppers and fabrics, which combine sustainability and performance ...
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ArticleItalian shoemakers suffer a sharp slowdown in Q2
Italian shoemakers increased their revenues by an estimated 1.2 percent year-over-year in the second quarter of 2023 compared with a 13.6 percent rise in the first quarter of the year, according to a survey carried out by Confindustria Moda’s research center among members of the Italian footwear association Assocalzaturifici “The ...
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ArticleZalando tops the ranking of European fashion e-tailers
In 2022, Zalando topped the ranking of online fashion retailers operating in the European Union, according to the second edition of “Top 250 Fashion & Beauty Retail Europe” released by Cross-Border Commerce Europe. Zalando controlled 9.8 percent of the EU online fashion market largely thanks to its strong presence in ...
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ArticleBirkenstock applies for NYSE listing
Birkenstock Holding, which is registered in Jersey and has its headquarters in London, filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The company plans to list ordinary shares on the New York Stock Exchange under the ticker BIRK. No details were released regarding ...
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ArticlePrimark recovery to boost annual profit at parent, but stock theft rising
A strong recovery at the retail chain Primark has helped its parent company Associated British Foods (ABF) to lift annual guidance again, although it warned about a sharp increase in stock theft and abuse against staff in its stores around the world. ABF said it now expected adjusted operating profit ...
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ArticleMicam hosts 1,204 brands including 504 foreign ones
Micam, which is scheduled to run from Sept. 17 to 20 at the Fieramilano Rho exhibition center at the outskirts of Milan, will host 1,024 brands, 520 of which are Italian and 504 foreign, representing over 30 countries. Spain will have the largest foreign delegation, comprising over 100 companies. Abicalçados, ...
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ArticleMain footwear producing countries suffer sharp falls in exports
The world’s four main footwear manufacturing countries have registered “very significant” falls in exports during the first half of 2023, according to data collected by Apiccaps, the Portuguese footwear association. Some key consumption markets are clogged up with inventories, stemming from overbuying to overcome disruption to the supply chain caused ...
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ArticleDesigner Brands sees tailwinds from Nike sales, ‘softer’ comps as economic pressures continue
Designer Brands maintained its sales and earnings guidance for the full year, highlighting the “softer” comparable figures it is facing in the third and fourth quarters and an expected lift from the sale of Nike shoes, as it resumes sales after renewing its partnership with the U.S. sportswear company earlier ...
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ArticleTod’s’ operating profits beat expectations
In the first half of 2023, Tod’s posted earnings before interest and tax (Ebit) of €60.3 million, significantly higher than the €17.7 million posted a year earlier and the €36 million forecast by financial analysts. The Ebit margin widened to 10.6 percent from 3.8 percent the previous year. The Italian ...
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ArticleJungheinrich takes over the robotics firm Magazino
Jungheinrich, a Hamburg-based provider of logistics equipment and solutions, has taken full control of Magazino, a Munich-based robotics specialist. Magazino, which has 130 employees, was founded in January 2014 and created Toru, a robot that was developed to provide a flexible and economical automation solution in existing warehouses. It can ...
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ArticleMicam continues to showcase 12 emerging footwear designers
Scheduled to run from Sept. 17 to 20 at the Fieramilano Rho exhibition center at the outskirts of Milan, the 96th edition of the Micam footwear fair will, as always, showcase twelve up-and-coming footwear designers. Selected by a panel of some of the leading names in the Italian fashion and ...
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ArticleCaleres maintains guidance as profits increase in Q2 despite ‘choppy’ market
Caleres maintained its earnings and revenue guidance for the full year, after posting better-than-expected profits in the second quarter despite a slightly worse-than-anticipated sales performance and a market that continues to be “choppy”. In the second quarter ended July 29, sales at the U.S. footwear group slipped by 5.8 percent ...
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ArticleSergio Rossi boosts H1 sales
In the first half of 2023, Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods firm Lanvin Group, posted sales of €33 million, up by 22.4 percent from a year earlier. The brand’s sales rose by 29.7 percent in EMEA, 31.5 percent in North America and 20.9 percent ...
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ArticleNext hikes stake in Reiss to 72%
The British fashion retailer Next and the Reiss family have agreed to acquire a 34 percent interest in the fashion group Reiss for £128 million (€149.3m) from the private equity Warburg Pincus. Upon completion of the transaction, which is expected to take place in mid-October, Next’s holding in the Reiss ...
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ArticleWolverine sells Hush Puppies IP in China, Hong Kong, Macau, divests U.S. leather business
Wolverine World Wide announced additional steps in the ongoing streamlining of its brand portfolio, including the sale of Hush Puppies intellectual property in China, Hong Kong and Macau, and the sale of its U.S. Wolverine Leathers business. The portfolio transformation is expected to help the company become more efficient, direct ...
