Boohoo issues profit warning as H1 sales slump, product returns increase
Boohoo has issued a profit and sales warning after a 10 percent fall in first-half revenues driven by the cost-of-living crisis.
Pittards sees ‘strong’ order book after H1 sales rise 7%
Pittards, the British leather and leather goods company, posted revenues in the first half ended June 30 of £10.4 million (€11.7m), up by 7 percent on the year earlier, as its sales order book remained “strong” across market sectors.
Hotter 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.
Italian shoemakers start using the VCS self-assessment ESG program
VCS (Verified & Certified Steps), a software package allowing the self-assessment of environmental, social and governance (ESG) performances launched by Assocalzaturifici, the Italian footwear association, is currently being tested by three Italian shoemakers.
San 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.
Tod’s’ minority shareholder buyout to start on Sept. 26
DeVa Finance, which is controlled by DI.VI. Finanziaria di Diego Della Valle & C, announced that its offer to buy out Tod’s’ minority shareholders will run from Sept. 26 to Oct. 25.
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.
Management changes at Primark aim at boosting international expansion, digital sales
Associated British Foods (ABF), the parent company of Primark, has poached the finance chief of Marks & Spencer (M&S) and reinforced the management structure of its apparel retailing subsidiary. The two moves are expected to help Primark in its international expansion, especially in the U.S., and improve its online offering.
Tecovas poaches Deckers Brands’ CCO
Tecovas, an Austin-based western footwear, apparel, and accessories brand, announced that David Lafitte is joining the company as its chief executive officer starting June 27.
Consumer and business sentiment sinks in Europe
Consumer confidence continues to decline significantly in Europe due to rising inflation, an erosion in purchasing power and concern about the future due to a worsening of the macroeconomic environment and rising geopolitical tension following Russia’s invasion of Ukraine on Feb. 24.
German shoemakers concerned about the future despite H1 rebound
Despite a strong rebound in domestic and foreign sales in the first half of 2022, German shoemakers are concerned about the business environment due to growing inflation and the erosion of the purchasing power of consumers.
Italy faces a huge population decline
Italy is facing a huge decline in population as well as significant demographic changes that are likely to prompt further labor shortage and modify consumption patterns.
A report confirms the shift out of China into Vietnam
A report available on ResearchAndMarkets.com indicates that Nike and Adidas are leading a move out of China into Vietnam for the manufacturing of shoes, confirming a trend that has been observed in data and analyses that Shoe Intelligence has collected over the past years.
