Zegna’s Q4 revenues dip 0.5% but shoes post ‘exceptional performance’
The Italian fashion house Ermenegildo Zegna generated revenues of €407 million in the fourth quarter of 2022, down by a reported 0.5 percent on the year earlier and 2.9 percent lower at constant exchange rates, as sales were hit by new Covid-19 restrictions affecting the Greater China region. The owner ...
Primark posts a rise in Christmas sales
Primark reported a rise in Christmas sales as consumers continued returning to city shopping centers and retail parks after the easing of Covid-19 restrictions.
Boohoo lowers its guidance on declining sales
Boohoo has lowered its full-year revenue guidance after sales fell sharply in the last four months of 2022 due to longer delivery times and shoppers returning to physical stores. But more worrisome, the British online fashion retailer is losing market share in the U.S. and Continental Europe.
Shoe retailer Schuh-Oase files for bankruptcy
The German footwear retailer Schuh-Oase has filed for bankruptcy, the latest of many shoe companies caught in a wave of insolvencies that has been gathering pace in Europe’s biggest economy.
The Danish trade show CIFF buys its rival Revolver
Two major Danish fashion trade fairs are merging as Copenhagen International Fashion Fair (CIFF) acquires its rival Revolver effective from summer 2023, in a move aimed at strengthening Copenhagen’s position as Scandinavia’s fashion capital.
C-Suite interview: NeroGiardini aims to double in three years its sales from the Covid-19 trough
After three difficult years, that led to a significant reduction in sales, NeroGiardini is focusing on new markets to sell its wholly Italian made footwear. This year the Italian company will be entering the South Korean market.
Designer Brands appoints a new CEO
Designer Brands said that its board has appointed Doug Howe, currently the president of the group’s footwear chain DSW, to succeed Roger Rawlins as chief executive officer, effective April 1, 2023.
VF's CEO steps down
VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board since 2009, will serve as interim chairman of the board.
Caleres’ CEO to step down in January
Diane Sullivan, who has served as Caleres’ chief executive officer for more than a decade, will retire as CEO on Jan. 15, 2023, and will assume the role of executive chairman. At that time, Jay Schmidt will succeed her as chief executive officer.
Italian shoemakers’ 2022 revenues rose by 13.2%
Italian footwear manufacturers estimated that in 2022 aggregate revenues rose by 13.2 percent compared with 2021 and were slightly above pre-Covid levels, up by 0.4 percent from 2019, when the industry’s sales totaled €14.3 billion.
Stocks 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.
Consumer sentiment improves in Europe
Consumer sentiment improved slightly in Germany, France and Italy, the three main economies of the European Union, but consumers remain cautious in a difficult economic environment.
Global footwear market to enjoy sustained growth in the coming years
The global footwear market is expected to grow at a sustained pace over the coming years, according to various surveys that were released in the past weeks. However, the estimates regarding the actual size of the market and the forecasts of its growth rate vary significantly from one market research ...
