Shoe Zone has reopened 416 stores out of 470
The British footwear retailer Shoe Zone has reopened most of its store network, which is exiting the lockdown streamlined, as the company decided to permanently close 20 locations. Meanwhile, online sales were up by 32 percent in the fiscal first half.
Shoe Carnival’s online sales soar
After a difficult first quarter, Shoe Carnival is experiencing a strong rebound in sales, so much so that it has issued a business update.
Designer Brands misses expectations in Q1
The Covid-19 pandemic has taken its toll on Designer Brands, the American shoe retailing group previously called DSW. It recorded significantly lower sales and heavy losses for its first quarter ended on May 2 – both worse than analysts’ expectations - hampered by strong markdowns and store closures from March ...
Boohoo buys two brands, Oasis and Warehouse
In the wake of its capital increase, that raised £197.7 million (€220.8m-$248.0m) in gross proceeds on May 15, the U.K. online fashion retailer Boohoo has bought two brands, Oasis and Warehouse, for £5.25 million (€5.9m-$6.6m) from Hilco Capital. The two brands will be integrated onto Boohoo’s platform, benefiting from the ...
Genesco ends first quarter deep in the red
Genesco, the parent company of shoe retail chains such as Journeys and Johnston & Murphy in the U.S. and Schuh in the U.K., faced a $79.3 million impairment charge in the first fiscal quarter ended on May 2, and ended with a net loss of $134.7 million, against income of ...
Zara’s parent wants 25% of sales online within 2 years
Inditex, the Spanish group that owns the brands Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, wants online sales to represent over 25 percent of the total by 2022, compared with 14 percent in 2019, and to restructure its store network, that will be further ...
Caleres to accelerate store closures as e-commerce surges
The Covid-19 pandemic has led to a dramatic surge in the importance of e-commerce in Caleres’ sales, representing about a third of the company’s revenues in its fiscal first quarter, and prompting it to accelerate the closure of some 160 stores by the end of 2021.
Steve Madden posts $17.5m loss in Q1
After a great year in 2019, Steve Madden was hit hard by the coronavirus pandemic and posted lower-than-expected results for the first quarter. The New York-based company recorded a net loss of $17.5 million, compared with a net income of $34.5 million for the year-ago quarter. Revenues decreased by 13.6 ...