Zalando cuts its FY guidance again
Zalando has further cut its full-year guidance as macroeconomic conditions deteriorated in the second quarter. The company had already issued a profit-warning in May with the release of its first-quarter results, which included the first decline in quarterly sales of the history of the German online fashion retailer.
Germany faces ‘very difficult’ choices due to gas shortage
Germany faces gas shortages and will have to make “very difficult” choices for households and companies if Russian supplies continue to decline, warned the Economy Minister Robert Habeck.
U.K. consumer confidence at record low
Consumer confidence in the U.K. in June hit a new record low of -41, down from -40 in May and -9 in June 2021, according to data released by market research group GfK.
Boohoo names a new CFO
Boohoo has appointed Shaun McCabe as chief financial officer. He will succeed Neil Catto, who will become an executive director, remaining on the board of the British online fashion retailer, with responsibility for strategic projects.
French footwear sales surge in May
Retail sales in France in May rose by 0.6 percent in volume from April on a calendar and seasonally adjusted basis with a 2.8 percent decline in food sales offset by a 1.8 percent increase in the sales of manufactured goods, according to data released by the Bank of France.
Nike pulls out of Russia
The U.S. sportswear company Nike is pulling out of the Russian market. The brand had already suspended its activity in the country on March 3 following Russia’s invasion of Ukraine on Feb. 24.
Frasers hikes stake in Hugo Boss
Frasers Group, the parent company of Sports Direct, has increased its investment in Hugo Boss.
EU to use trade agreements to promote sustainability
The European Commission said that it took ”a major step in making EU trade greener, fairer and more sustainable” thanks to a new plan to enhance the contribution of trade agreements in protecting the climate, environment and labor rights worldwide.
Superfeet introduces hiking-specific Adapt insoles
Insoles manufacturer Superfeet has expanded the Adapt family of insoles by introducing Adapt Hike Max. Designed specifically for hiking, these insoles use the Adapt collection’s patented Adaptive Comfort Technology, and they are made with two layers of Superfeet’s Aerolyte foam. The Adapt Hike Max Insoles are the first hiking-focused insoles ...
JD Sports’ FY earnings surge
In the full year ended Jan. 29, JD Sports Fashion’s basic earnings per ordinary share rose to 7.17 pence (8.4 euro cents) from 4.61 pence as revenue grew to £8.563 billion (€9.977 bn) from £6.167 billion. Adjusted earnings per ordinary share doubled to £12.84 pence (€14.90) from 6.44 pence.
C-Suite interview: Safety Jogger to launch a workwear collection in November
Safety Jogger, the leading brand of the Belgian footwear and apparel company Cortina, is diversifying into workwear after having entered the outdoor market with the Safety Jogger Adventure footwear collection launched in May.
Walmart has a controlling stake in AI robotics automation provider
The U.S. retailer Walmart has a 62.2 percent stake in Symbotic, a provider of artificial intelligence-enabled robotics automation technology, according to a filing with the US Securities and Exchange Commission.
The Natural Fibers Alliance calls for suspension of Higg Index
In the wake of the recent New York Times article “How fashion giants recast plastic as good for the planet,” the Natural Fibers Alliance (NFA) is campaigning for an immediate suspension of the use of the Higg Index. Since its implementation in 2012 by the Sustainable Apparel Coalition, the ...
Primark to trial a click-&-collect service in the U.K.
The clothing, shoe and accessories retailer Primark is making its first move into online shopping in the U.K., where it will trial a ‘click-and-collect’ service as it reported a sharp rise in third-quarter sales.
Bata aims to double its Italian franchise network in 3 years
Bata, the Lausanne-based shoemaker plans to increase the number of its stores in franchising from about 90 currently to 200 by the end of 2024. The expansion of the network will focus on opening stores in the center of towns with a population of 40,000-80,000. The brand is also interested ...
Expo Riva Schuh continues to expand its International reach
The summer edition of Expo Riva Schuh & Gardabags, which was held from June 11 to 14 in Riva del Garda, Italy, was a vibrant event and a throwback to the pre-pandemic days when trade shows were paramount in aggregating the footwear business community.
El Naturalista enjoys a strong rebound with its summer collection
El Naturalista’s summer collection is benefiting from a 26 percent increase in sales compared with the previous year as the Spanish brand owned by The Art Company rebounds from the dip caused by the Covid-19 pandemic.
Sioux looks forward to returning to direct personal contacts at trade shows
In an exclusive interview wih Shoe Intelligence, Lewin Berner, the CEO of the German footwear company Sioux, explains the reasons behind the decision to manage distribution directly in the Benelux, his view on the war in Ukraine after Russia’s invasion on Feb. 24, the return of the company’s presence in ...
How a fast-growing Italian footwear e-tailer started as a game for two Millenials
Quanticlo, an Italian fast-fashion online company founded eight years ago, reached €5 million in revenues in 2021, growing by 58 percent from its pre-pandemic level of 2019. The brand targets further growth by strengthening its presence in its core European markets and building up consumer awareness.
Spartoo says 150 merchants are using its TooPost service
Spartoo, a French online retailer, said that 150 e-merchants have chosen its TooPost transport solution service.