Latest News Briefs – Page 14
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News briefs
Columbia appoints a new president for Sorel
Columbia Sportswear Company has appointed a new president for its Sorel brand. Cory Long will be joining the company in December. Long is a veteran of the footwear and apparel industry, most recently serving as global general manager and chief global merchant of DC Shoes. He has leadership experience at ...
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News briefs
Skechers ready to “completely vindicate itself” against Nike lawsuit
Skechers has issued a response to the patent suit filed against it by Nike in a California-based federal court on Nov. 6, saying it will “vigorously defend” itself. Nike is suing Skechers for allegedly violating its Flyknit patents. Flyknit is a lightweight yarn woven into a one-piece shoe upper. A ...
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News briefs
Burberry issues a profit warning as demand for luxury goods slows down
Burberry warned that due to a slowdown in luxury demand globally it is unlikely to achieve its revenues target for the year ending at the end of March and in this context the adjusted operating profit is now expected to come in towards the lower end of the £552 million ...
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News briefs
Gabor and ECC make reordering easier
The German shoe manufacturer Gabor Shoes has partnered with European-Clearing-Center (ECC) and the merchandise management system provider ETOS on a project aimed at making reordering easier and less costly. The shoe retailer Roman Degenhardt also joined the project and is testing its implementation. “ELViS, an acronym for our electronic supplier ...
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News briefs
Dr. Martens appoints a new CFO
Dr. Martens has appointed Giles Wilson as chief financial officer. He will take up his role with the British shoe maker in 2024. The actual date still has to be confirmed. Wilson joins Dr. Martens from William Grant & Sons Limited, one of the largest global spirits companies, owners ...
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News briefs
PVH sells Warners, Olga and True & Co. to Basic Resources
PVH is selling its Warners, Olga and True & Co. businesses to Basic Resources for $160 million, plus an earnout based on the net sales on a portion of the acquired businesses for calendar 2024, with a maximum value of $10 million. The transaction is expected to close at the ...
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News briefs
Dr. Martens’ trading data is weak - Barclays
Data from Google Trends and Similarweb for Dr. Martens looks weak, lapping already poor data from 2022, according to Barclays. The British footwear company has a lot to deliver in the second half of its fiscal year, ending in March, to meet estimates. The task could be difficult if a ...
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News briefs
Comfort One Shoes buys Saxon Shoes
Comfort One Shoes, a Northern Virginia-based retailer, has bought Saxon Shoes, a footwear retailer based in Richemont and founded by the Weiner family 70 years ago. No financial details were available. Comfort One Shoes intends to retain the Saxon Shoes brand and keep the store at the Short Pump Town ...
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News briefs
Bata India’s sales slip on inflationary pressure
Bata India said that in the second quarter end Sept. 30 revenues fell by 1.3 percent year-on-year to 8,191 million rupee (€92.0m), despite expanding its retail network, as inflationary pressure affected demand. In September, annual inflation in India stood at 5.02 percent, down from 6.83 percent in August. Ebitda rose ...
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News briefs
Walmart and Vans settle trademark dispute
Walmart and Vans have settled a trademark lawsuit, under which Vans, which is owned by VF Corp. accused the U.S. retailer of copying the designs of its shoes, according to a filing with a Californian District Court. The trial was scheduled to start on Nov. 28. The companies said that ...
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News briefs
Orangenkinder opens new factory
The German children’s shoe manufacturer Orangenkinder opened a new factory as it expands its production capacity amid increasing demand. The company moved operations to a new factory in Wilhelmsdorf, near Erlangen, six kilometers away from its previous location in Oberreichenbach, at the end of September. The managing director, Verena ...
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News briefs
New CEO for Garmont
Garmont International, the Italian manufacturer of technical footwear, has appointed Andrea Nalesso as its new CEO. Nalesso takes over from Pierangelo Bressan, who remains chairman of the board and a shareholder in Garmont. After several years as sales manager at Geox and Dainese, Nalesso was managing director of several equipment ...
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News briefs
Italian economy may slow down in the coming months
Italy’s economy could slow down in coming months as business and consumer surveys indicate a continued decline in confidence, wrote statistics institute Istat in its monthly note on the Italian economy. Istat noted that consumer confidence fell for the fourth consecutive month in October, reaching its lowest level since January. ...
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News briefs
Görtz’s CFO leaves
Görtz’s management overhaul continues as the German shoe retailer undergoes an extensive transformation after resurfacing from bankruptcy and finding a new owner. After the CEO, Frank Revermann, left the Hamburg-based shoe chain at the end of July after almost eight years at the helm, the chief financial officer, Tobias ...
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News briefs
Frasers hikes its stake in Asos
Frasers Group has increased its stake in the British online fashion retailer Asos to 19.52 percent from 19.00 percent, according to a filing with the London Stock Exchange. Based on the filing, 12.74 percent of the voting rights are held through shares and the remaining 6.78 percent through financial instruments, ...
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News briefs
Cofra to build a factory in Egypt
The Italian safety footwear manufacturer Cofra is planning to invest €10 million in a factory in Egypt, Arab Finance reported citing the minister of trade and industry, Ahmed Samir. The factory will occupy a 50,000-square-meter area in the Robbiki Leather City cluster and is expected to create 2,000 jobs. ...
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News briefs
France launches scheme to repair shoes and clothing
On Nov. 7, the French gouvernment launched a subsidized program for the mending of clothing and footwear. The so-called “bonus réparation” is “good for the environment but also for purchasing power” said Christophe Béchu, the minister for ecological transition. Consumers will be able to have their clothes and shoes ...
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News briefs
Bangladeshi textile minimum wage increased by over 56%
The minimum wage committee of Bangladesh has approved a 56.25 percent raise in the minimum monthly salary of the country’s four million textile sector workers, bringing it to 12,500 takas (about €104). Raisha Afroz, the secretary of the government-nominated committee, told the news agency AFP that the new minimum salary ...
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News briefs
BasicNet’s sales rise, Ebit declines
BasicNet, the Italian parent of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands, said that in the first nine months of 2023 consolidated revenues rose by 5.3 percent year-on-year to €297.5 million, while aggregate group brands revenues slipped by 7.6 percent to €858.4 million. Meanwhile, Ebitda increased by ...
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News briefs
Amazon posts 13% sales increase and more than triples net income in Q3
Amazon posted net sales of $143.1 billion in the third quarter ended Sept. 30, representing an increase of 13 percent compared with Q3 2022. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, the sales increase was 11 percent. International sales rose by ...
