All Tapestry articles
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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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News briefs
US court hearing on Tapestry, Capri merger due Sept. 9
Jennifer Rochon, a US District Judge for the Southern District of New York in Manhattan, has set Sept. 9 as the date for the hearing regarding Tapestry’s proposal to acquire Capri Holdings, according to Bloomberg. On April 22, the US Federal Trade Commission (FTC) decided to sue to block Tapestry’s ...
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ArticleUS regulator moves to block Tapestry’s acquisition of Capri
On April 22, the US Federal Trade Commission (FTC) decided to sue to block Tapestry’s $8.5 billion acquisition of Capri Holdings. However, the companies plan to defend their case in court and to complete the transaction by the end of 2024. “If allowed, the deal would eliminate direct head-to-head competition ...
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News briefs
US regulator reportedly to vote on blocking Tapestry, Capri merger
The five commissioners of the The Federal Trade Commission (FTC) are scheduled to meet next week to vote on whether to file a lawsuit to block Tapestry’s $8.5 billion takeover of Capri Holdings, The New York Times reported, citing two sources familiar with the matter. The newspaper noted that the ...
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ArticleFootwear stocks treaded water in a quarter marked by shareholder activism
The prices of stocks monitored by Shoe Intelligence grew by 1.3 percent on average in the first quarter of 2024, compared with the previous three months, in very volatile trade. The quarter was marked by shareholder activism. Tabor Asset Management, a US investment company that has a 1.1 percent stake ...
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News briefs
Capri Holdings buys the Tuscan shoemaker Sicla
Capri Holdings has agreed to acquire the Tuscan shoemaker Sicla to bolster its manufacturing capabilities. In 2019, Capri had already bought a Tuscan shoemaker, Alberto Gozzi, located in Pistoia, which supplies the group’s three brands. Sicla produces for Jimmy Choo, the luxury footwear brand owned by Capri along with Michael ...
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ArticleStuart Weitzman’s sales trend improves
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $82.2 million in the fiscal second quarter ended on Dec. 30, down by 4 percent year-over-year on a reported basis and by 3 percent at constant currency rates. Despite still being negative, the trend was ...
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ArticleJimmy Choo’s Q3 sales and profitability decline
In the third fiscal quarter ended on Dec. 30, Jimmy Choo posted revenues of $166 million, down by 1.2 percent compared with the prior year on a reported basis and by 3.0 percent at constant currency rates. The brand’s retail sales were approximately flat, while wholesale revenue decreased by a ...
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ArticleStuart Weitzman sales drop on lower off-price shipments, slower recovery in China
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $52.6 million in the fiscal first quarter ended on Sept. 30, down by 19 percent year-over-year on a reported basis and by 18 percent at constant currency rates. “Results in the quarter were pressured against ...
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ArticleThe stocks of footwear companies continued to be under pressure in Q3
The prices of stocks monitored by Shoe Intelligence fell by 7 percent on average in the third quarter of 2023 compared with the previous three months amid ongoing concern about the economic outlook due to weak demand, higher interest rates and stubborn inflation. In the second quarter, the panel was ...
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News briefs
Stuart Weitzman in an eyewear license deal with Safilo
Stuart Weitzman, the New York luxury footwear brand owned by Tapestry, has entered into an exclusive global licensing agreement with Safilo that runs through June 2029. Under the deal the Italian eyewear company will design, manufacture and distribute Stuart Weitzman branded sunglasses and optical eyewear collections. The first collection will ...
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ArticleStuart Weitzman will be relying on sneakers, China to boost sales
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted fourth-quarter sales that were more than $12 million below expectations of financial analysts. However, the brand is relying on the launch of an extended sneaker assortment and the reopening of the Chinese market, after the lifting of ...
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ArticleJimmy Choo’s Q1 sales rise as expected
In the first fiscal quarter ended on July 1, Jimmy Choo posted revenues of $183 million, up by 6.4 percent compared to the prior year on a reported basis and by 7.0 percent at constant currency rates. The brand’s operating income was $16 million and operating margin 8.7 percent, compared ...
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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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ArticleStuart Weitzman’s Q3 sales up a currency-neutral 10%
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $68 million in the fiscal third quarter ended on April 1, up by 7 percent year-on-year on a reported basis and by 10 percent at constant currency rates. “In the third quarter, we delivered 10 ...
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ArticleStuart Weitzman’s Q2 sales down nearly 24%
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $85 million in the fiscal second quarter ended Dec. 31, down 23.6 percent year-on-year at constant currency rates. “Revenue declined in the quarter, impacted by the brand’s significant exposure to China as well as a ...
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ArticleStocks of U.S. footwear companies rebound in Q4
Trading remained very volatile in the fourth quarter of 2022 with the various clusters of our universe of stocks often fluctuating significantly compared with the previous three months. Overall, Shoe Intelligence’s selection of stocks continues to trend water, rising by just over 2 percent on average. Shares of Brazilian footwear ...
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ArticleGolden Goose ranks among the fastest growing luxury goods brands
Golden Goose, the Italian producer of luxury sneakers, ranked third among the 20 fastest growing luxury goods companies over the past three years, according to Deloitte’s report Global Powers of Luxury Goods 2022. In the 2021 fiscal year, Golden Goose’s estimated revenues were $456 million, up by 45.0 percent from ...
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ArticleNevada attracts footwear distribution centers
Over the past year, several distribution center projects have been announced in Nevada by companies working in the footwear industry, according to Footwear Distributors and Retailers of America (FDRA). The announcements include a 730,000 square foot site by Crocs, a 450,000 square foot facility by Footlocker, a 788,000 square foot ...
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ArticleStuart Weitzman’s sales are flat, operating result negative
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $65 million in the fiscal first quarter ended Oct. 1, unchanged year-on-yer at constant currency rates. “We delivered growth in North America, aided by strength in the wholesale channel, while pressure remained in the highly ...
