Product & Marketing – Page 105
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ArticleArezzo continues to book record sales
Arezzo & Co continued its record-breaking streak, having posted its highest-ever revenues for a second quarter and its biggest-ever sales day. The company said its second-quarter gross revenues reached $1.4 billion Brazilian reais (€260 million) in the quarter, representing a 21.6 percent increase year-on-year and a 100.8 percent increase over ...
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ArticleFerragamo’s sales weakness expected to continue until Q4
After suffering a 4.8 percent decline in total revenues to €600.1 million in the first half due to two consecutive quarterly decreases, Salvatore Ferragamo is expected to experience another weak third quarter before showing signs of recovery in the final three months of the year, according to Paola Carboni, financial ...
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News briefs
Allbirds’ Q2 operating loss rises slightly
Allbirds, which continues to move forward with its “strategic transformation plan” announced in March, intends to complete distribution agreements with partners in Canada and South Korea during the second half of 2023. In the second quarter of 2023, total sales fell 9.8 percent to $70.5 million from $78.2 million, ...
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ArticleWolverine’s new CEO to spearhead turnaround as Q2 results tumble
Chris Hufnagel, who was named president and CEO on Aug. 10, of Wolverine Worldwide, Inc (WWW) with immediate effect following the sudden departure of Brendan Hoffman, faces numerous headwinds from day one, with the group’s second-quarter figures now released. They range from getting inventory and debt to proper levels and ...
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ArticleTapestry to buy Capri in a deal worth $8.5bn
Tapestry, the U.S. owner of the brands Coach, Kate Spade and Stuart Weitzman, has entered into a definitive agreement to buy Capri Holdings, which owns the brands Versace, Jimmy Choo and Michael Kors. Under the terms of the transaction Capri shareholders will receive $57.00 per share in cash. The total ...
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News briefs
Advent takes over Zimmermann
The U.S. private equity firm Advent International has reached an agreement to buy a majority stake in Australian fashion brand Zimmermann from the Italian private equity Style Capital. No financial details were released but according to Reuters, the transaction valued Zimmermann about 14 times its core profit, or more than ...
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ArticleHow reshoring requests proved short-lived for Portuguese producers
Demand to reshore footwear manufacturing from Asia to Portugal has petered out after growing substantially in 2022, several Portuguese producers told Shoe Intelligence. Last year, as high inflation, energy prices and China’s zero-covid policies upended the global footwear supply chain, Portuguese manufacturers were approached by clients who wanted to reshore ...
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News briefs
Vulcabras Q2 results bolstered by locally made athletic footwear
The Brazilian Vulcabras group, which produced double-digit second-quarter gains in revenues, gross margin and net profit, was aided by a 14.2 percent increase in market-produced footwear to 608.2 million Brazilian reais (€112.8m). Overall, Ebit expanded by 40 percent to R$148.1 million (€27.5m) as year-over-year gross margin increased by 540 basis ...
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ArticleAlpargatas still plagued by inefficiencies, high inventory levels
Alpargatas, the Brazilian parent of flip-flop brand Havaianas and the Rothy’s footwear brand, continues to be challenged by high inventory levels in the South American market and inefficiencies in its overall operation that are impacting sales, margins and profitability. The group reported a 53.1 million Brazilian reais (€9.9m) consolidated net ...
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ArticleSteve Madden’s expects an improvement in H2 after Q2 sales fall 17%
Steve Madden’s revenues decreased by 16.8 percent to $445.3 million in the second quarter of 2023 from $535.0 million a year earlier. However, the company expects an improvement in the second half of the year even if it remains cautious especially regarding re-orders from wholesale clients. Revenues for the wholesale ...
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News briefs
Vibram becomes a bluesign system partner
Vibram, an Italian producer of high-performance rubber soles, has become a partner of the bluesign system. Bluesign is a Swiss material verification solutions firm. The collaboration between the two parties started in November 2022. According to Vibram it is the “first shoe sole manufacturer and the first footwear brand ...
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ArticleNext lifts guidance again on strong rise in Q2 full-price sales
Next has raised its annual profit forecasts again after strong second-quarter full-price sales and better-than-expected clearances of summer stock. The British fashion retailer raised guidance by £10 million (€11.6m) to £845 million (€980m), just six weeks after its last upgrade. Next also forecast that annual full-price sales will be 1.8 ...
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ArticleBoot Barn’s Q1 sales rise, beating the company’s forecast
Boot Barn’s net sales rose by 4.9 percent to $383.7 million in the first fiscal quarter ended on July 1, from $365.86 million the previous year. Net income fell from $39.3 million to $34.3 million, with net income per diluted share coming in at $1.11, compared to $1.26 the previous ...
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ArticleWeyco posts higher profit, margin despite lower Q2 sales
Weyco Group suffered a 9.9 percent decline in second-quarter sales to $67.0 million as the group’s portfolio of footwear brands faced difficult year-over-year comparisons and a wholesale market flush with inventory. Nonetheless, the group improved several operating metrics in the period ended June 30. Operating income rose by 18 percent ...
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ArticleAra to sell Lloyd and Salamander
The German footwear group Ara is parting ways with its subsidiaries Lloyd Shoes and Salamander. The group announced plans to reorganize and focus exclusively on the Ara Shoes brand, which was founded more than 70 years ago and which in the past three years, similarly to many other brands ...
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News briefs
Havaianas renews eyewear license with Safilo
Alpargatas, the Brazilian footwear group, has renewed the license agreement between its brand Havaianas and the Italian eyewear manufacturer Safilo. Under the agreement, Safilo has the right to design, produce and distribute frames for corrective eyewear and sunglasses under the Havaianas brand until Dec. 31, 2028. Safilo first announced its ...
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News briefs
Pollini’s sales rise slightly in H1
Pollini, the luxury footwear brand owned by the Italian fashion house Aeffe, posted sales of €17.2 million in the first half of 2023, up by a reported 3.4 percent from a year earlier. The brand represented 10.5 percent of the group’s revenues. During the period, Aeffe posted sales of €162.9 ...
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News briefs
Eulero Capital takes over Mondeox
The investment firm Eulero Capital has acquired a 60 percent stake in the Italian footwear manufacturer Mondeox from the Florian family, according to the daily Il Sole 24 Ore. Mondex was founded in 1993 by Maurizio Florian and his wife Maria Antonia. The company specializes in outdoor footwear and work ...
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ArticleCoats forecasts gradual demand improvement in H2
Coats, the U.K.-based maker of industrial yarns and structural components for footwear, suffered headwinds during the first half of 2023 due to difficult year-over-year comparisons and widespread industry destocking. Adjusted operating profit slipped by 14 percent to $107 million the six months ended June 30 from $125 million a year ...
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ArticleVF cuts its FY revenue guidance
VF Corp., the parent of brands such as Vans, Timberland and The North Face, reporting a loss of $57.4 million in the first quarter ended July 1 against a loss of $55.96 million in the year-ago period on an 8 percent revenue decline to $2.09 billion from $2.26 billion. Adjusted ...
