Latest Headlines – Page 8
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ArticleCrocs looks to international business to drive growth
Crocs expects international markets to outperform its domestic business in coming years, after a 2023 marked by a strong performance for the U.S. footwear group in Asia, led by “extraordinary” growth in China. Markets outside of the U.S. now represent nearly 40 percent of the group’s business, said Andrew Rees, ...
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ArticleLuís Onofre re-elected at the helm of Apiccaps
Luís Onofre was re-elected president of Apiccaps, the Portuguese association of footwear, components and leather goods manufacturers, for a new three-year term. Joaquim Moreira will chair the association’s general meeting and Domingos Ferreira the supervisory board. In a statement, Onofre said that “it should be recognized that in recent years, ...
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ArticleGenesco slashes FY earnings guidance after disappointing Christmas period
Genesco slashed its full-year earnings guidance in the wake of weak Christmas sales. In the nine weeks to Dec. 30, which represent about two-thirds of the company’s fiscal fourth quarter, like-for-like sales decreased by 4 percent. Same-store sales decreased by 6 percent and comparable sales for the company’s e-commerce businesses ...
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ArticleWolverine’s inventory and debt are below expectations at the end of 2023
Wolverine World Wide confirmed its sales and earnings guidance released in November, while inventory and net debt are below expectations. The U.S. company expects full-year and fourth-quarter revenues of approximately $2.24 billion and $527 million, respectively. The annual and quarterly revenues for the ongoing business are estimated at $2.20 billion ...
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ArticleDestruction of new shoes is an absolute exception in Germany
The destruction of new apparel and footwear is the absolute exception and new items only make up a small fraction of the goods sent to the landfill, according to Germany’s textile, shoes and leather goods trade association, BTE. The remarks followed the European Union’s steps in early December of ...
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ArticleCrocs hikes its FY guidance
Crocs now expects to post record 2023 revenues of approximately $3.95 billion, which would represent more than 11 percent growth year-over-year, compared with the previous guidance of a 10-11 percent increase. “2023 was a strong year for Crocs, Inc. that culminated in a successful holiday season with market share gains ...
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ArticleItalian footwear companies suffer a decline in sales in the second half of 2023
After the gains posted in the first half of 2023, driven by a 13.6 percent year-over-year surge in the first quarter and a timid 1.2 percent rise in the second quarter, revenues of Italian shoe makers are estimated to have dropped by 5.8 percent year-over-year in the third quarter, according ...
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ArticleGenesco appoints a new chief merchandising officer for Journeys
Genesco appointed Chris Santaella as executive vice president and chief merchandising officer of the Journeys Group, effective Feb. 5. He replaces Pete Hicks, who retired in October 2023, and will report to Andy Gray, Journeys’ president. “An accomplished and diversified global merchant, Santaella will lead Journeys’ buying, merchandising, planning and ...
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ArticleNext lifts guidance again but warns of potential stock delays from Red Sea shipping attacks
Next has lifted annual guidance for the fifth time in eight months after full-price sales came in £38 million (€44m) more than expected during November and December, but warned that attacks on shipping in the Red Sea by Iran-backed Yemeni Houthi militants could cause supply delays. Full-price sales in the ...
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ArticleJD Sports cuts profit guidance as sales disappoint
JD Sports Fashion’s sales came in lower than expected in the 22 weeks to Dec. 30 and the British retailer cut its full-year profit guidance. The company reported that constant currency organic revenue growth was 6.0 percent during the 22-week period, while like-for-like growth was 1.8 percent. “This was slightly ...
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ArticleC-Suite interview: Easywalk aims to consolidate the Covid-19 boom
IGF is a producer of sandals and slippers for men, women and children, sold under the brand name Easywalk, situated in the footwear cluster of Barletta in the South Italian region of Puglia. In 2022, it booked sales of €4 million, underpinned by demand for comfortable clothing by people housebound ...
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ArticleFessura plans to raise €2.1 million in a crowdfunding
Fessura, a sneaker company based in Italy’s Marche region, is proceeding with a crowdfunding due to close on Jan.17 on the Mamacrowd platform. The maximum size of the transaction was increased to €2.1 million from €1.6 million “to give the opportunity to the many investors who have expressed interest in ...
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ArticleC-Suite interview: El Naturalista continues recovering and investing in new projects
El Naturalista expects sales to rise by 5 percent in 2023, after a 4 percent advance in 2022, as the Rioja-based footwear company continues to recover from the sharp decline caused by the Covid-19 pandemic, according to Jorge Hernández, the company’s global sales manager. After achieving a turnover of €28 ...
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ArticleNew brands enter the Russian market, but face an uncertain future
Since the beginning of 2023, 19 non-food retail brands have launched businesses in Russia, a vast majority of which sell footwear and clothes, NF Group, a Moscow-based consultancy, reported. In the coming months, 23 more brands plan to follow their lead, though gaining a foothold in Russia could be a ...
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ArticleDeichmann ends MyShoes brand, closes 90 stores
Footwear retailer MyShoes, a subsidiary of the German group Deichmann, will cease business operations in Germany and Austria by the end of 2024. Overall, 90 stores will be affected by the closings, with 29 in Austria and 61 in Germany, impacting 750 employees, including 150 in Austria and 600 ...
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ArticlePikolinos’ full-year sales rise to a record €138m
In the fiscal year ending on April 30, 2023, Pikolinos Group posted a record turnover of €138 million, up by 29 percent from the previous year primarily fuelled by the success of its flagship brand, Pikolinos. The year was the first under the full leadership of the second generation of ...
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ArticleANWR Media relaunches the e-commerce platform Schuhe.de
ANWR Media has relaunched its online store Schuhe.de with a comprehensive redesign, in a bid to further shift its digital strategy into higher gear. After the recent overhaul, the e-commerce platform will be further improved in the future, the company, which is part of ANWR Group, said. “The relaunch ...
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ArticleWolverine sells assets in Asia for $70m
Wolverine Worldwide announced the sale of assets in Asia that will generate a combined $70 million in proceeds and further streamline the group’s structure. The U.S. company will raise $61 million by exercizing an option to sell a minority ownership interest in the entity that owns the Saucony intellectual property ...
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ArticleVF’s fulfilment operations affected by cyber attack
VF Corp. suffered a cyber attack on Dec. 13 which is affecting its capacity to fulfill orders. On Dec. 13, VF “detected unauthorized occurrences on a portion of its information technology (IT) systems. Upon detecting the unauthorized occurrences, the company immediately began taking steps to contain, assess and remediate the ...
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ArticleEmerging designer: The Peshawari chappal: Çaplait!
A cultural appropriation clash at the highest levels of the international fashion world led — apart from a retraction and relaunch of the offending item — to a fresh career direction for a British-born Pakistani entrepreneur, the creation of a new niche industry preserving traditional local skills in his parents’ ...
