All Pittards articles
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Article
The stocks of footwear companies continued to be under pressure in Q3
The prices of stocks monitored by Shoe Intelligence fell by 7 percent on average in the third quarter of 2023 compared with the previous three months amid ongoing concern about the economic outlook due to weak demand, higher interest rates and stubborn inflation. In the second quarter, the panel was ...
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News briefs
Pittards prolongs creditor protection as sale proceeds
On Aug. 22, Pittards, a British producer of leather and luxury leather goods, filed a second notice of intention to appoint administrators to provide protection against creditors for a further 10 business days while a buyer for the business and assets is sought. On Aug. 8, the company announced the ...
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News briefs
Pittards in talks with investor ready to invest £1m
Pittards said that it has successfully concluded discussions with an unnamed trade investor, who has agreed to invest up to £1 million (€1.2m) via the subscription of up to 25,000,000 new ordinary shares at the price of 4 pence (4.6 euro cents) each under the current open offer to shareholders, ...
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Article
The stocks of footwear companies slip led by British firms
The prices of stocks monitored by Shoe Intelligence fell by 7 percent in the second quarter of 2023 compared with the previous three months, when the cohort gained about 5 percent. Shares were driven lower by British constituents of the panel. Some companies were hit by worrisome financial situations, but ...
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Article
Pittards’ overdraft facility increased by £340,000
Pittards’ overdraft facility was increased by £340,000 by Lloyds after the British leather and leather goods company completed a cash call. The bank also extended Pittards’ other borrowing facilities until June 30, 2023. Negotiations with Lloyds regarding new facilities or the restructuring of existing facilities remain ongoing, Pittards said. ...
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Article
The stocks of former IPO stars Allbirds and Dr. Martens continue their freefall in Q1
The prices of stocks monitored by Shoe Intelligence rebounded by about 5 percent overall in the first quarter of 2023 compared with the previous three months driven by some key clusters such as large U.S. footwear companies, online retailers and luxury goods groups. However, both Allbirds and Dr. Martens, previously ...
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News briefs
Pittards sells 100,000 treasury shares
Pittards said that on Jan. 6 it sold 50,000 treasury shares at a price of 58.25 pence (€0.66) per share and on Jan. 9 it sold another 50,000 treasury shares also at a price of 58.25 pence per share, raising gross proceeds of £58,250 (€66,000). Following the sale of treasury ...
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Article
Pittards enjoys a strong start to the year, expands business with Vivobarefoot
The British leather and leather goods company Pittards has started 2022 with the highest level of orders in three years and it expects shoe production in its factories in Addis Ababa, Ethiopia, to grow faster than in 2021. “We have started the current year with a better order book than ...
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Article
C-Suite interview: Pittards ‘open for business’ with turnkey footwear manufacturing solution
A leather maker approaching its 200-year milestone, Pittards is now looking to the next century with plans for an expanded role in the production of footwear and other finished projects. To that end, Pittards recently launched a vertically integrated-solution for footwear, offering services starting with the sourcing of leather up ...
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News briefs
Pittards sees 25% increase in January sales order book
Pittards, the British producer of leather and luxury leather goods, said its sales order book in January increased by 25 percent compared to the year earlier, with sales momentum continuing after revenues in 2021 jumped by 30 percent to £19.8 million (€23.5m). In a trading update on 2021 financial results, ...
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News briefs
Pittards not affected by situation in Ethiopia
Pittards, a British producer of leather and luxury leather goods, said that its activities in Ethiopia have not been affected by the war in the country. “The board is mindful of the current situation in Ethiopia. At present, the group’s operations in Ethiopia, including the free flow of goods, activities, ...
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Article
Pittards returns to profits as sales recovery gathers momentum
Pittards, the British leather and leathergoods manufacturer, which owns the brand Daines & Hathaway, returned to profit in the first half and said there are “clear signs” a recovery from the Covid-19 pandemic was gathering momentum with orders at their highest level for two years. Pre-tax profit for the six ...
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Article
Pittards posts operating profit in H2
Pittards , the British leather and leathergoods manufacturer, which owns the brand Daines Hathaway , posted a positive Ebitda of £0.3 million (€0.35m-$0.41m) in the second half of 2020, albeit down from £0.9 million (€1.0m-$1.2m) a year earlier. For the whole of 2020, the company posted a negative ...
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News briefs
Pittards’ sales recover in H2
Pittards , the British leather and leathergoods manufacturer, which owns the brand Daines Hathaway , posted sales of £15.2 million (€17.6m-$21.3m) in 2020, down from £22.3 million (€25.8m-$31.2m) in 2019 due to the impact of the Covid-19 pandemic. But in the second half, revenues stood at £8.6 million ...
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Article
Pittards sees more opportunity than risk in the “new normal”
Despite losing nearly half its sales and posting a net loss in the first half six months of the year, Pittards sees “more opportunity than risk in the new normal that is emerging.” The British leather and leathergoods manufacturer, which owns the brand Daines Hathaway , ...