All Retail articles – Page 11
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ArticleOpportunities and challenges arise for fashion brands as consumers embrace sustainability
A consumer shift towards sustainable products and production practices is creating key opportunities and new challenges for global fashion brands, a Bain & Company and WWF Italy report found. The study examines consumer behaviors related to sustainability and fashion, surveying 5,900 consumers across six countries (China, France, Germany, Italy, Japan, ...
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China drops Covid quarantine for in-coming travelers
Chinese health authorities announced that the countrywill abolish mandatory Covid-19 quarantine for travelers coming into the country from Jan. 8. The decision was made despite a jump in Covid cases in the country, which are estimated to have reached 250 million over the last three weeks. Meanwhile, countries including Japan ...
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Skechers opens a flagship store in Ireland
Skechers has opened a flagship store on Dublin’s Grafton Street. In addition to the Henry Street concept store and four other retail outlets in the greater Dublin area, the new 929 sqm location is designed to showcase Skechers’ extensive range and technologies in one of Ireland’s busiest neighborhoods and expand ...
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Article
Bos Group obtains the Scotch & Soda footwear license
Bos Group International is taking over the footwear license of Scotch & Soda, following the termination of the Dutch brand’s previous agreement with HS Footwear GmbH, which is part of Osnabrück-based Hamm Group. Peter Frericks will become the head of global sales and brand manager for Scotch & Soda at ...
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ArticleLanvin Group’s roller coaster market debut
Shares in Lanvin Group, the Chinese luxury goods group that owns the Italian shoemaker Sergio Rossi, plummeted about 25 percent on their market debut on the New York Stock Exchange, but the stock recovered most of its lost ground the following day. Lanvin’s flotation stems from the merger with Primavera ...
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Birkenstock opens fourth U.S. store
Birkenstock has opened its fourth company-owned store in the U.S. in the Marin Country Mart in Larkspur, California. The German brand’s other U.S. stores are in Brooklyn and SoHo in New York and Venice Beach, California.
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Primark on track to open 27 stores in its fiscal year
Associated British Foods, the conglomerate that owns Primark, said that so far in the fiscal year, which started on Sept. 18, 2022, the trading performance of the clothing retailer “has been encouraging.” Primark is on track to open 27 new stores in the fiscal year, ten of them opening in ...
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China eases Covid-19 restrictions
China announced a general relaxation of Covid-19 health rules, authorizing patients with mild symptoms and for asymptomatic cases to quarantine at home. Previously, such cases were sent to mass quarantine centers. The National Health Commission also indicated that negative PCR test results will no longer be needed for domestic travel ...
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ArticleGenesco cuts earnings guidance after ‘sluggish’ start to November sales
Genesco cut its guidance for earnings and tightened expectations for revenues in the full year ending in February 2023, as it took a more conservative approach after beginning the fourth quarter in November with a “sluggish” sales performance and stepping up promotional activity to attract bargain-conscious consumers. Genesco now forecasts ...
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Primark unveils €100m Spanish investment plan
Primark plans to invest €100 million in opening new stores and refurbish existing ones in Spain. The Irish clothes retailer, owned by Associated British Foods, will open eight new stores throughout the country, including the island of Lanzarote and the enclave of Melilla, Primark said in a statement. As part ...
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Next buys fashion retailer Joules, saving 1,450 jobs
The British apparel and footwear chain Joules has been bought out of administration by its founder Tom Joule and Next in a deal that will save 1,450 jobs. Next will buy around 100 Joules shops for £34 million (€39.5m) and take a 74 percent stake in the company after a ...
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Nike stores re-open in Russia under a new banner
The first Nike store was re-opened in Russia under the banner Nike Sport Point in the Outlet Village shopping center in Moscow. On June 23, Nike announced its decision to pull out from Russia in the wake of the country’s invasion of Ukraine. Following the move, the Cheryomushkinsky Court of ...
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ArticleOR Group nears bankruptcy
The Russian banks Sberbank and VTB Bank have joined bankruptcy proceedings against OR Group, the Russian arbitration courts database showed. Alongside Promsvyazbank, Sberbank and VTB Bank are the largest creditors of OR Group, formerly known as Obuv Rossii, which has been experiencing financial difficulties since the beginning of 2022. On ...
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H&M cuts 1,500 jobs
H&M is reducing its workforce by about 1,500 positions as part of a cost savings and efficiency program. Overall, the Swedish retailer estimates the program will provide annual savings of about SEK 2 billion (€182.2m), which it expects to “become visible” in the second half of 2023. The program is ...
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U.S. footwear site traffic flat during Black Friday
In the U.S., footwear retailers experienced flat site traffic during Black Friday compared with the Black Friday of 2021. For all retailers surveyed, traffic grew 11 percent, according to Bluecore, a retail marketing platform. The total number orders fell by 8 percent year-over-year for footwear retailers but increased by 5 ...
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ArticleCCC targets cost savings, cuts revenue forecast in a difficult market
CCC Group, the Polish footwear and fashion group, cut its full-year outlook for revenues and capital expenditures and announced it would put into place cost savings measures totaling 300 million zloty (€64.0 million) as it continues to navigate through what it described as an “extremely challenging” year for retailers. Due ...
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Deckers is the winner of Black Friday in the U.S. according to a broker
Deckers Brands, the parent company of the Ugg brand, was named the clearest winner of the Black Friday week in the U.S. by the footwear and apparel team at Wedbush Securities. Ugg was one of the only brands tracked by Wedbush that was less promotional during the week in the ...
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Allbirds opens another store in the Boston area
Allbirds has opened its fifth retail site in the Boston area and one of the footwear brand’s biggest in the world. The store measures 3,700 square feet and uses natural materials throughout the space. It is located at 800 Boylston Street in the Prudential Center. Headquartered in San Francisco, the ...
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Primark unveils £140m investment to open 4 new stores, create jobs
Primark plans to invest £140million (€163.1m) as it looks to increase footfall during the cost of living crisis hitting the U.K. The program will result in the opening of four new stores and the creation of at least 850 jobs. Associated British Food, the parent company of the fast fashion ...
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CCC’s shareholders approve capital boost
Shareholders of CCC Group approved plans for equity financing of up to 500 million zloty (€106.3 million), as the Polish group seeks to raise fresh cash to bring down debt. In an extraordinary general meeting on Nov. 17, shareholders approved a resolution to issue up to 14 million new shares ...
