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Steve Madden beat its own expectations in the first quarter of 2021 with revenues increasing by 0.5 percent to $361.0 million and a net income of $21.2 million, or $0.26 per diluted share, compared to net loss of $17.5 million, or $0.22 per diluted share, a year earlier.
Raising its guidance for the full financial year after a very strong first quarter, Crocs predicted that its revenues will grow by between 40 and 50 percent in 2021 from last year’s level of $1,386 million, up from its previous forecast of 20-25 percent growth.
In a business update, Stella International said revenues for the first quarter increased by 15.3 percent to $303.4 million. This is mainly due to a favorable comparison base with last year’s first quarter, when the Chinese company’s revenues were affected by store and factory closures, as well as lower demand ...
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The German footwear chain Görtz received a €28 million loan from the German federal government’s Economic Stabilization Fund (WSF) to weather the impact of the coronavirus crisis. The company’s funding request was approved in April, according to the ministry of economics.
Tod’s’ shares rose by 11.39 percent to €39.32 in trading on the Milan exchange on April 23 after the announcement that LVMH would increase its stake in the Italian footwear company to 10.0 percent, a move analysts believe could be a prelude to an eventual acquisition.
Acting in behalf of Midcap Funding XVII Trust, which is Hickies’ main lender, Hilco Streambank is seeking bids for the acquisition of the American brand of no-tie shoelaces and related assets on its website by May 20 at the latest, setting a date of May 25 for their auction. The ...
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The German shoe retailer HR Group has appointed a new CEO. Steffen Rosenbauer, the managing director of the group’s Reno footwear chain, took up the post on April 1 as Peter Wolf resigned after a three-year tenure to return focusing on the role of chairman of the advisory board.
The majority shareholder in Salvatore Ferragamo has presented its slate of candidates for the Italian luxury group’s new board, with Micaela Le Divelec Lemmi confirmed as CEO despite speculation of a management shakeup. Executive deputy chairman Michele Norsa, the CEO of Ferragamo from 2006 to 2016 who rejoined the company ...
Shoe Carnival’s board has unanimously elected Mark Worden as the next CEO, effective Sept. 30. Worden is the chief customer officer of the American footwear retailer and will succeed Cliff Sifford, who will step down as CEO but will continue as vice chairman of the board. Sifford joined the company ...
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In March, demand for shoes in Russia was estimated 15 percent lower in volume than during the same period of the previous year, according to a research conducted by the Russian IT firm Evotor.
Footwear is the only subsector of the Brand Finance Apparel 50 2021 survey to increase in brand value year-on-year, posting a 9 percent increase on average to $5.0 billion. New entrants in the ranking, Timberland and Converse, recorded 47 percent and 8 percent increases in brand value respectively.
Vietnam’s Leather, Footwear and Handbag Association (Lefaso) expects its industry to achieve exports of more than $20 billion this year after suffering from a decline last year due to the impact of the Covid-19 pandemic on supply chains, consumption and trade.
Germany’s footwear and leather goods sector took a heavy hit from the coronavirus pandemic in 2020 and the impact of the crisis is expected to continue to be felt this year, according to reports from the Federal Association of the Shoe and Leather Goods Industry (HDS/L).
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