Product & Marketing – Page 84
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News briefs
Burberry cuts its guidance
Burberry expects its adjusted operating profit in the fiscal year ending March 31, 2024 to come in betweem £410 million and £460 million (€477-535m), less than the previous guidance of towards the lower end of a £552 million to £668 million range (€642-776m). It said that it is committed to ...
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News briefs
Clarks Netherlands stores to shut as new GAB wholesale partnership starts
A shake-up of Clarks’ Benelux operations will see the closure of seven branded stores in the Netherlands as it ends its partnership with Mulder Schoenen and starts a new deal with Group Alain Broekaert (GAB). The British footwear company said its shoes will continue to be sold in the Netherlands, ...
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News briefs
Boohoo embroiled in factory closure and label-changing scandal
British fast fashion company Boohoo found itself embroiled in two more potential scandals as it considers closing a factory it established as a flagship center of excellence and was accused of removing original labels at the same plant and replacing them with ‘Made in UK’ tags.Boohoo is consulting with up ...
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News briefs
Sport 2000 Austria joins forces with ANWR Group
At an extraordinary general meeting on Jan. 11, 2024, the Zentrasport Österreich e. Gen. cooperative, which is part of the international retail network Sport 2000, decided to become part of ANWR Group eG and the Sport 2000 country network led by Sport 2000 Germany. In July 2023, the Austrian cooperative ...
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News briefs
Yue Yuen's manufacturing sales decline again in December
Manufacturing sales of Hong Kong-based Yue Yuen Industrial fell by 2.4 percent to $420.4 million in December. It was the slowest decline in manufacturing sales last year. For the whole of 2023, sales were down by 18.4 percent. However, sales at Yue Yuen’s retail business Pou Sheng grew by 15.9 ...
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ArticleExpo Riva Schuh to host 1,300 exhibitors
Expo Riva Schuh & Gardabags, scheduled from Jan. 13 to 16 at Riva del Garda, will host 1,300 exhibitors and brands from 39 countries. To mark its 100th edition, the Italian trade show will hold a “Celebration Night” during which it will honour “historical stakeholders who have accompanied and ...
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ArticleGenesco targets rents, moving non-selling activities out of stores to cut costs, boost profits
Genesco is focusing on bringing down rent costs and moving non-selling activities outside of stores, as it implements a $40 million cost-cutting program aimed at boosting profitability. “We are continuing to focus on rent, which is our biggest operating expense line,” explained Tom George, the chief financial officer, during the ...
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News briefs
SQIM raises €11m to develop mycelium-based materials
SQIM, an Italian start-up created in 2015 and specialized in materials bio-produced using mycelium, said that it has successfully closed an €11 million funding round in which participated CDP Venture Capital, ECBF VC, Kering Ventures and Progress Tech Transfer. The funds will enable SQIM, formerly known as Mogu, to launch ...
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News briefs
Informa to merge its Tech digital businesses with TechTarget
Informa, a British publishing, business intelligence and exhibition organizer, has reached an agreement to combine its Tech’s digital businesses with TechTarget. “Today we significantly strengthen Informa’s position in the growing B2B Digital Services market, creating a platform to serve B2B customers at scale digitally, as we already do in Live ...
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ArticleWolverine World Wide sells the Sperry brand to ABG and the inventory to Aldo
Wolverine World Wide has sold the rights to the Sperry brand to Authentic Brands Group (ABG) and part of the brand’s inventory to the Aldo Group for a total of about $130 million to be largely cashed in the first quarter. Wolverine will use the proceeds to pay down debt ...
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News briefs
Kybun Joya expands in the Middle East
The Swiss comfort shoes manufacturer Kybun Joya is expanding in the Middle East with the opening of 10 new stores in the Gulf states in the coming months. The company’s retail franchise has already grown to over 65 locations worldwide and it recently opened a new store in the ...
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News briefs
Schuh Mücke managing director Thomas Klein steps down
Schuh Mücke, the German shoe and sporting goods retail chain within the ANWR Group, has undergone a management change. The managing director, Thomas Klein, left the company at the end of December after 13 years spent working in various roles across the group. According to the Mücke Group, Klein ...
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ArticleShoe Zone to phase out Original format stores by end 2026
Shoe Zone plans to spend a minimum of 3-4 percent of sales annually to cover 50 store projects, head office infrastructure and IT changes after growing revenues in fiscal 2023, despite trading from fewer locations. As part of a reorganization of its estate, the British budget footwear company expects to ...
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ArticleMinelli partially saved
The French footwear retailer Minelli is being acquired by three investors and avoids going into liquidation, the news agency AFP reported citing a decision by a Marseille-based commercial tribunal. However, the investors will only keep a third of Minelli’s employees and less than half its stores. The retailer, rebranded Maison ...
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ArticleCrocs looks to international business to drive growth
Crocs expects international markets to outperform its domestic business in coming years, after a 2023 marked by a strong performance for the U.S. footwear group in Asia, led by “extraordinary” growth in China. Markets outside of the U.S. now represent nearly 40 percent of the group’s business, said Andrew Rees, ...
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News briefs
U.K. retail sales hit by weak consumer confidence in December
In December, total retail sales in the U.K. rose by 1.7 percent compared with 6.9 percent growth in the same period of 2022 and below the three-month average increase of 2.3 percent and the 12-month average rise of 3.6 percent, according to the latest survey released by the British Retail ...
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ArticleLuís Onofre re-elected at the helm of Apiccaps
Luís Onofre was re-elected president of Apiccaps, the Portuguese association of footwear, components and leather goods manufacturers, for a new three-year term. Joaquim Moreira will chair the association’s general meeting and Domingos Ferreira the supervisory board. In a statement, Onofre said that “it should be recognized that in recent years, ...
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News briefs
Caleres reiterates its full-year guidance
Caleres reaffirmed its financial outlook for consolidated sales and earnings per share (EPS) for the fiscal year 2023. The U.S. footwear company expects net sales to be down by 4.5 percent to 5.5 percent compared to fiscal 2022, diluted EPS of $3.96 to $4.06 and adjusted diluted EPS of $4.10 ...
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ArticleGenesco slashes FY earnings guidance after disappointing Christmas period
Genesco slashed its full-year earnings guidance in the wake of weak Christmas sales. In the nine weeks to Dec. 30, which represent about two-thirds of the company’s fiscal fourth quarter, like-for-like sales decreased by 4 percent. Same-store sales decreased by 6 percent and comparable sales for the company’s e-commerce businesses ...
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ArticleWolverine’s inventory and debt are below expectations at the end of 2023
Wolverine World Wide confirmed its sales and earnings guidance released in November, while inventory and net debt are below expectations. The U.S. company expects full-year and fourth-quarter revenues of approximately $2.24 billion and $527 million, respectively. The annual and quarterly revenues for the ongoing business are estimated at $2.20 billion ...
