Product & Marketing – Page 67
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ArticleArezzo’s sales lifted driven by e-commerce and own stores
Arezzo & Co posted gross revenues of 1,358 million Brazilian reais (€244.2m) in the first quarter of 2024, up by 5.6 percent compared to the year earlier driven by e-commerce and own stores. The number of shoes sold rose by 1.3 percent year-on-year to 4.653 million pairs the three-month period, ...
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ArticleFerragamo’s Q1 sales decline sharply
Salvatore Ferragamo’s first-quarter revenues fell by 18.3 percent to €227 million, with sharp declines in all regions and missing market expectations by about €3 million. At constant exchange rates, the drop was limited at 16.6 percent. Net sales, which exclude certain revenues such as licenses, dropped by 19.2 percent as ...
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News briefs
Moreschi proceeds with the firing of 59 workers
As announced in February, Moreschi, an Italian producer of upscale shoes, has proceeded with the firing of 59 people as part of its plans to outsource its production to third parties. In February, the Italian footwear company controlled by the Swiss group Hurley said that its own production was “not ...
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News briefs
Tod’s can be delisted after a successful public tender
Crown Bidco, the investment vehicle used by L Catterton to buy out Tod’s’ minority shareholders at €43 per share, has obtained sufficient acceptances to delist the Italian luxury goods group. In the public tender that ended on May 8, Crown Bidco obtained acceptances for 5.855 million shares, representing 17.691 percent ...
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ArticleWolverine starts to see the signs of a turnaround
In a self-proclaimed “transition year,” Wolverine Worldwide is beginning to witness ”proof points” of its efforts to turn around its business. These developments in the first quarter, when the company exceeded Wall Street’s revenue expectations, included higher gross margins, less promotion in the direct-to-consumer channel, a sharply lower inventory level, ...
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News briefs
Dr. Martens’ new CFO joins early
Dr. Martens said that Giles Wilson, who has been appointed to the role of Chief Financial Officer, will join the company and the board on May 13, two weeks earlier than the previously announced date of May 27. Wilson is replacing Jon Mortimore, who is retiring from the ...
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ArticleStuart Weitzman books lower sales and a loss in Q3
Stuart Weitzman, the premium footwear brand of the US fashion group Tapestry, posted sales of $56.1 million in the fiscal third quarter ended March 30, down by 18 percent year-on-year on a reported basis and by 17 percent at constant currency rates. During the quarter, the brand posted an operating ...
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ArticleWeyco posts weaker sales but expects an improvement in H2
Weyco’s net sales in the first quarter of 2024 dropped by 17 percent year-on-year to $71.6 million, driven by the Bogs brand in the North American wholesale channel. “Although we expect sales to remain soft through the second quarter, we are optimistic that demand will improve in the back half ...
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ArticleBoohoo losses widen as Shein, weak demand hit revenues globally
Boohoo, the British online fashion retailer which is facing competition from rival Shein, weak demand and high return rates, reported wider annual losses after revenues fell by 17 percent. Boohoo posted a loss before tax of £160 million (€186.6m), compared with a £90.7 million loss a year earlier. Adjusted Ebitda ...
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News briefs
Imbox Protection opens new headquarters in Denmark
Imbox Protection, a provider of in-store footwear protection technology, has opened its new global headquarters at Ved Skoven 54, 8541 in Skødstrup, Denmark. The company highlighted that “solar power constitutes a substantial part of powering the headquarters,” which comprise a 14,000 square foot office and a 9,700 square foot warehouse. ...
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ArticleCentral Asia and Caucasus expand footwear exports to Russia
In 2023, Russia saw a hike in footwear imports from Armenia, Kazakhstan and Kirgizstan, all members of the Russian-led Eurasia Economic Union trade block. But, the increase is primarily attributed to re-exports of footwear from Europe. Armenia exported shoes worth $33 million in 2023, which was 11 times higher than ...
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News briefs
Wolverine names a new CFO
Wolverine Worldwide, the Michigan-based footwear company, has named Taryn Miller as chief financial officer (CFO). She will report directly to Chris Hufnagel, the company’s president and CEO. Miller previously served as the vice president of corporate and commercial finance at Corteva Agriscience, an international agriculture company. In this role, ...
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ArticleCrocs maintains its sales guidance and names a new CFO
Crocs Inc. maintained its guidance for the full year of 3 to 5 percent sales growth, despite downgrading its expectations for Heydude, as the Crocs brand instead is seen outpacing previous expectations after a strong first-quarter showing. The outlook was released along first-quarter results that showed revenues at the enterprise ...
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News briefs
Zalando posted an operating profit in Q1
Zalando said that adjusted Ebit in the first quarter rose to a positive €28.3 million, representing a margin of 1.3 percent, compared to a negative €0.7 million in the prior-year period. “The substantial improvement in profitability was driven by lower fulfilment costs and successful inventory management, leading to an improved ...
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News briefs
LVMH could take over Tod’s
LVMH could end up taking over Tod’s after the footwear company is delisted, according to the British bank Barclays. With the purpose of delisting Tod’s from the Milan stock exchange, L Catterton, a private equity firm backed by the French luxury goods group, launched on March 25 a public ...
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News briefs
Lowa's 2023 sales slip slightly
Lowa’s production volume was stable in the past financial year despite weaker market demand and delays due to introducing new IT systems in production. In its 100th year, the German hiking and mountaineering boot specialist, part of the Italian Tecnica Group, sold around 3.06 million pairs of shoes, roughly the ...
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News briefs
JD Sports opens a store in Bahrain in partnership with GMG
JD Sports Fashion has marked its entry into the Middle East with the inauguration of a new store located at Bahrain’s Marassi Galleria Mall, a beachfront shopping destination. Operated under a franchise agreement with GMG, the 504-square meter store will offer customers access to the latest releases from a diverse ...
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ArticleFitFlop picks Ryder as its logistics provider in North America
FitFlop has picked Ryder as its supply chain and logistics provider to support its grow in the US and Canada. The British brand’s American logistics operations are located within Ryder’s newly built 700,000-square-foot multiclient warehouse facility in Columbus, Ohio. The company also provides FitFlop with e-commerce and omnichannel fulfillment services ...
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ArticleJosef Seibel launches its one brand concept in Europe
Starting with the autumn/winter 2024/2025 collection, Josef Seibel is streamlining its business with the one brand concept through which all its goods in Europe will be sold under the eponymous brand name. At the end of 2019, the German footwear company announced that it was selling the trademark rights to ...
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ArticleTecnica Group is working on a 5-year business plan
Tecnica Group is working a on five-year business which could lead to an initial public offering, according to the Italian newspaper Il Sole 24 Ore. In 2023, the Italian group, which owns the brands Tecnica, Nordica, Blizzard, Lowa, Moon Boot and Rollerblade, posted sales of €540 million and adjusted Ebitda ...
