All Retail articles – Page 28
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ArticleSan Marina placed into receivership
The French footwear retailer San Marina was placed under controlled administration, or receivership, on Sept. 22 at its request by a Marseille-based commercial court. San Marina employs 673 people in 163 stores in France. The so-called observation period of the receivership is set to last until March 23, 2023, ...
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News briefs
U.K. to introduce VAT-free shopping for foreigners
During the presentation of new budgetary measures, Kwasi Kwarteng, the U.K.’s newly appointed finance minister, officially referred to as the chancellor of the exchequer, said that the government has decided to introduce VAT-free shopping for overseas visitors. “We will replace the old paper-based system with a modern, digital one. And ...
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ArticleGörtz and Surf4Shoes file for bankruptcy amid uncertainty, soaring inflation
Görtz and Surf4Shoes are among the latest companies caught in a wave of bankruptcies that appears to be gathering pace in Germany. Heightened consumer uncertainty, sky-rocketing inflation and rising energy prices are seen as the main destabilizing factors, as the war in Ukraine rages and the European Union’s sanctions against ...
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News briefs
The Russian fashion market has nearly halved
Between February and August of 2022, the sales of shoes, clothes and accessories in Russia plummeted by 40.5 percent against the same period of the previous year, according to Anush Gasparyan, spokesperson for the Moscow-based think tank Fashion Consulting Group. As many as 23 percent of the Russian customers surveyed ...
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ArticleHotter Shoes lifts sales but notes pressure on consumer spending
Hotter Shoes’ owner, Unbound Group, reported higher half-year sales and margins driven by strong demand, despite the tougher economic outlook. Unbound, formerly known as Electra Private Equity, said revenues rose to £27.6 million (€31.60m) from £25.0 million, driven by its multi-channel sales model. It posted a pre-tax loss of £2.14 ...
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News briefs
More than half of German clothing retailers hit by supply issues
Overall German retailers are “very concerned” about the replenishing of their inventories and the situation could continue into the Christmas season, according to a survey carried out by the ifo Institute. In August, on average 77.5 percent of retailers complained about supply problems, up from 77.3 percent in July. Retailers ...
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News briefs
EU plans to ban products made with forced labour
The European Commission has proposed to prohibit products made with forced labour on the European Union market. The proposal covers all products, including those made in the EU for domestic consumption and exports, and imported goods, without targeting specific companies or industries. “This comprehensive approach is important because an estimated ...
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News briefs
BasicNet to open “Basic Village” in Milan
The Italian group BasicNet will open its “Basic Village” in Milan on Sept. 21 during Fashion Week. The 4,500-square meter space will feature offices, showrooms, restaurants, commercial activities and lofts. BasicNet Group is the parent company of the Kappa, K-Way, Sebago and Superga brands. K-Way accounts for 65 to 70 ...
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News briefs
Saucony to boost its retail presence in Spain
Saucony, a brand of Wolverine Worldwide, is planning to open around 20 shop-in-shops at El Corte Inglés’ department stores across Spain between 2022 and 2023, Modaes has reported. Specifically, between ten and twelve units will open in the fourth quarter of 2022, devoted to its Originals product line. Six or ...
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ArticleThe Italian retailers Scarpe&Scarpe and Pittarosso are due to merge
The financial group Pillarstone has taken over Scarpe & Scarpe and is expected to create in the near future a large footwear retailing group in Italy by merging it with Pittarosso. Responsible & Sustainable Corporate Turnaround Fund (RSCT), a turnaround fund managed by Pillarstone Italy, obtained 70 percent of Scarpe ...
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ArticleEcco completes the renovation of its headquarters
Ecco has completed the refurbishment of its headquarters located in Bredebro. The town, situated in southern Denmark, has been the company’s home since its foundation in 1963 by Birte and Karl Toosbuy. The site comprises various corporate functions including finance, supply chain, procurement, information technology, human resources and corporate responsibility. ...
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ArticleRussian footwear brand Basconi plans to expand
Amid a mass exodus of Western brands out of Russia, the local footwear company Basconi plans to enhance efforts aimed at improving the brand’s recognition and continues developing its franchise network, Vitaly Ifraimov, co-owner of Basconi, told to the Russian press. Basconi runs a network of 50 stores in Russia ...
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News briefsOnly two foreign brands entered Russian market in H1
In the first half of 2022, only two foreign brands, the Chinese sporting goods supplier Li-Ning and the perfume company Vilhelm Parfumerie, entered the Russian fashion market, which is the lowest figure since 2014, according to a research conducted by Knight Frank Russia. On the other hand, nearly 180 brands ...
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News briefs
Clarks US picks TPP Retail for labelling
Clarks US, the American unit of the British footwear group Clarks, has chosen TPP Retail’s Label IQ application to provide a comprehensive labelling solution for its stores. The TPP Retail’s solution was already rolled out in the group’s stores in the U.K., Ireland and Europe. “The TPP solution was a ...
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News briefsUFG strikes a licensing deal with Lyle & Scott
Unlimited Footwear Group (UFG) has entered a licensing agreement with the British brand Lyle & Scott, under which the Dutch footwear group will design, produce and distribute all upcoming branded Lyle & Scott footwear collections throughout the entire European Union, the U.K., Switzerland, Scandinavia and the U.S. The Lyle & ...
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ArticleHow a Serbian shoemaker is benefiting from Russia’s need for new suppliers
The huge exodus of Western brands out of Russia following the country’s invasion of Ukraine in Feb. 24, has created a void benefiting to companies from countries non abiding to Western sanctions. Thanks to tight historical and cultural ties, Serbia continues to trade with Russia, even though the country has ...
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News briefs
Next Q2 sales ahead of expectations
In the second quarter ended on July 30, Next’s full-price sales rose by 5.0 percent versus last year and were £50 million (€59.4m) more than it had expected. The British apparel retailer maintained its full-price sales growth guidance second half at 1.0 percent. But, Next increased its full-year profit guidance ...
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News briefs
Global Payments buys EVO
Global Payments, a U.S. provider of payment technology and software solutions, has reached an agreement to buy EVO for $34.00 per share. The bid represents a $4.0 billion of enterprise value for EVO. “The acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase ...
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News briefs
Shoe Zone improves its FY guidance
Shoe Zone has increased its full-year guidance and now expects adjusted profit before tax to be not less than £9.5 million (€11.5m). The forecast excludes the profit on the sale of freehold property and foreign exchange revaluations. The previous guidance for the full year ending on Oct. 2 was for ...
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ArticleHow the exodus out of Russia is creating opportunities for locals
Western footwear retailers that pulled out from the Russian market over the past few months in the wake of Russia’s invasion of Ukraine sold products worth 51.2 billion rubles (€911m) in the country in 2021, estimated Chestny Znak, a Russian regulator supervising the labelling of fashion products on the domestic ...
