Latest News Briefs – Page 30
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News briefs
UK clothing and footwear sales surge in August
In August, retail sales volumes for clothing and footwear rose by 2.9 percent month-on-month for clothing and footwear stores in the UK thanks to warmer weather and end-of-season sales, according to an initial estimate by the Office for National Statistics (ONS). Overall, British retail sales volumes are estimated to have ...
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News briefs
Deckers carries out a six-for-one share split
Deckers Brands carried out a six-for-one share split to make the ownership of its stock more affordable and attractive to a broader group of investors. The share split was approved by shareholders on Sept. 6 and shares started trading on a post-stock split adjusted basis on Sept. 17. ...
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Cambodian footwear exports up 22% in first 8 months of 2024
Cambodia exported $9,217 million worth of garments, footwear and travel goods in the first eight months of 2024, up by 22.8 percent from a year earlier, according to the General Department of Customs and Excise. Garments and textiles exports were up by 23 percent to $6,814 million, footwear grew by ...
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Shoes Düsseldorf moves dates forward
The German trade fair organizer Igedo has rescheduled its Shoes Düsseldorf trade fair, held at the Areal Böhler, to an earlier date. The footwear fair will now be held from Feb. 2 to 5, 2025, instead of the previously scheduled Feb. 23-25, moving it forward by four weeks compared ...
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Austrian shoe retailer Shoe4You opens four stores in Upper Austria
The Austrian shoe retailer Shoe4You is expanding its footprint in Upper Austria with the opening of four new stores in Wels, Schlüßlberg, Rohrbach and Bad Ischl. “With these new openings, we are expanding our accessibility and getting closer to our customers in Upper Austria, strengthening our market presence in ...
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Bernd Hummel closes a shoe factory in Germany
The German footwear manufacturer Bernd Hummel, the licensee of the Kangaroos label and owner of the Flip Flop brand, will halt production at its plant in Münchweiler, near Pirmasens, by the end of the year. The entrepreneur Bernd Hummel acquired the facility in 2012 from the bankruptcy estate of ...
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Kybun Joya appoints new COO to drive expansion
The Swiss comfort shoes manufacturer Kybun Joya is bolstering its management team with the appointment of a new chief operating officer. Steffen Breitschwerdt, 45, who previously held various management roles at Strellson, Joop!, Windsor and Philipp Plein, joined the company in August. The appointment of Breitschwerdt, who brings more ...
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News briefs
Demand for luxury goods to remain under pressure due to China
Consumer discretionary categories such as jewelry, beauty, apparel and footwear are expected to remain under pressure due to ongoing weakness in Chinese consumption, Deutsche Bank Research said in a note. The bank forecasts China’s retail sales to grow by 4.1 percent in 2024 and by 5.0 percent in 2025.
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Zegna’s organic sales slip in H1
In the first half of 2024, Ermenegildo Zegna’s revenues rose by 6 percent to €960.1 million. At constant currency rates, the top line rose by 8 percent while organic revenues dropped by 2.7 percent. The gross profit margin widened to 66.4 percent from 64.2 percent a year earlier. However, ...
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News briefs
THG to demerge its technology business
THG is looking into the option of demerging its technology services arm, THG Ingenuity, as the British e-commerce group looks to focus on its cash generative businesses. “After extensive discussions with shareholders over the past 12 months, THG is progressing options to demerge THG Ingenuity, leaving our highly profitable and ...
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News briefs
US footwear prices decline in August
In August 2024, the price of shoes declined in the US for the first time in a year, driven by women’s and children’s footwear, according to Footwear Distributors and Retailers of America (FDRA). Overall, footwear prices fell by 0.9 percent from a year earlier, with the prices of men’s shoes ...
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News briefs
US to plug trade loophole on low-value China shipments
The US government said it was taking steps to protect “American consumers, workers and businesses” from the “overuse and abuse” of a trade law that allows low-value shipments to come into the US without paying import duties and taxes. The so-called “de minimis” loophole allows shipments worth less than $800 ...
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News briefs
China to gradually increase the retirement age
China’s lawmakers have approved a proposal to gradually increase the retirement age, the news agency Xinhua reported. The legal retirement age will be increased from 60 to 63 years for men and to 55 from 50, or from 55 to 58 based on one’s employment, for women. The increase of ...
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News briefs
German shoe chain Gero Mure files for bankruptcy
The German shoe chain Gero Mure has filed for bankruptcy as rising costs, online competition and the lingering effects of the Covid-19 pandemic put a strain on footwear retail. Around 40 employees across six stores – two in Mannheim’s Planken shopping street, two in Baden-Baden, and one each in ...
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News briefs
Boohoo to supply US clients from the UK
Boohoo will cease supplying US customers from its distribution center in Pennsylvania and will fulfill all orders from its automated distribution center in Sheffield, England. “This move follows a recent trial of increasing the product range offered to US consumers by also fulfilling from the UK, which has led to ...
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Tapestry reportedly plans to sell Stuart Weitzman
Tapestry is close to selling Stuart Weitzman, according to various media reports. Giorgio Sarné, the CEO of the footwear brand, is set to leave his position but will remain in his job until October, according to Footwear News citing Tapestry. Along with Stuart Weitzman, Tapestry owns Coach and Kate Spade ...
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JD Sports shuts down large distribution hub in Derby
JD Sports Fashion has decided to shut down its warehouse on Derby Commercial Park, East Midlands, BBC News reported. The closure will result in the loss of nearly 200 jobs. The retailer had signed a 20-year lease on the 47,700 square meter facility just three years ago.
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Scarpa mourns the loss of Filippo Zanin and Francesco Favilli
Filippo Zanin and Francesco Favilli, a marketing specialist and a brand manager of the mountain category at Scarpa, passed away on Sept. 3 while climbing the south face of the Marmolada in the Italian Dolomites. Zanin, 36, and Favilli, 44, were expert mountaineers and rock climbers, both well-known in ...
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News briefs
Gucci may return to growth in H2 of 2025
Gucci is likely to be stuck in its turnaround for a while due to a tough luxury-demand environment and the time it will take for new products to ramp up, according to the broker RBC Capital Markets. Gucci is not expected to return to revenue growth until the second half ...
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News briefs
Givenchy names Sarah Burton as Creative Director
The French fashion house Givenchy, which is owned by the French luxury goods conglomerate LVMH, announced the appointment of Sarah Burton as Creative Director, with immediate effect. Burton will be responsible for the creative direction of all of the women’s and men’s collections. She will present her first collection in ...
