S&P has a negative credit outlook for Crocs
Having completed its review of Crocs following its $2.5 billion takeover of Hey Dude, Standard & Poor’s gave a negative outlook to the company, in contrast with the stable outlook assigned by Moody’s. S&P indicated that it might downgrade Crocs if it fails to integrate the casual footwear brand as ...
JD raises its profit forecast again
JD Sports Fashion expects that its pre-tax profit for the financial year ending Jan. 29 year will reach a level of at least £875 million (€1,050m-$1,197m), well ahead of the analysts’ consensus averaging £810 million, as its sales went up by more than 10 percent on a same-store basis in ...
Next cuts sick pay for unvaccinated staff isolating after Covid contact
The British fashion retailer Next is cutting sick pay for unvaccinated staff who must self-isolate due to exposure to Covid-19.
StockX is reportedly working on its IPO
StockX, the fast-growing auction platform for heritage sneakers and other collectibles, has started working on a public offering with Morgan Stanley and Goldman Sachs, said Bloomberg, quoting “people with knowledge of the matter.” The report, which could not be confirmed, comes a couple of months after StockX announced its first ...
Asos’ Christmas season revenues disappoint
Asos reported weaker-than-expected sales over the Christmas period due to “challenging” market conditions. Nevertheless, it announced plans to transfer to the London Stock Exchange’s main list by the end of February to be more appealing to large investors.
Rodolfo Zengarini obtains Bikkembergs license
Rodolfo Zengarini has obtained a five-year license to produce footwear under the Bikkembergs brand, starting with the 2023 spring/summer collection. The companies have however already started a partial collaboration on the forthcoming autumn/winter collection.
Premiata launches a ready-to-wear collection
Premiata launched its first ready-to-wear collection at the 101st edition of Pitti Immagine Uomo, held in Florence from Jan. 11 to 14, as part of its product diversification. The Italian footwear company known for its sneakers launched a collection of backpacks early last year.
Sergio Rossi appoints Evangelie Smyrniotaki as artistic director
The Italian shoe maker Sergio Rossi has appointed Evangelie Smyrniotaki, the founder in 2011 of the fashion blog Style Heroine, as its new artistic director. Smyrniotaki has frequently collaborated with high-end fashion brands such as Chanel, Prada and Versace.
Piquadro starts footwear collaboration with ACBC
The Italian leather goods company Piquadro presented its first collection of unisex sneakers called Corner20 at the Pitti Immagine Uomo trade show held in Florence from Jan. 11 to 14. The shoes were produced in collaboration with ACBC and are matched with a selection of backpacks.
Caleres hikes its full-year guidance
Caleres raised its earnings per share outlook for the fiscal year ending Jan. 29.
Shoe Zone returns to an annual profit
Shoe Zone swung to an annual profit, driven by lower costs and online sales as it aimed to push forward with its “Big Box” and hybrid store expansion strategy.
Rizzo’s debt restructuring to be discussed Jan. 24
The Stockholm District Court will hold hearings on Jan. 24 to discuss a debt restructuring proposal for Rizzo and its subsidiary Rizzo International. The court also approved to Rizzo’s request to extend its restructuring period for an additional three months to March 21.
CTC names Françoise Nicolas as general director
Centre Technique du Cuir (CTC), the French-based research and training group that redistributes funds collected among its members to support the national leather industry, has appointed Françoise Nicolas as its general director.
Global orthopedic footwear sales to rise nearly 6% a year
The global orthopedic footwear industry is expected to reach $11,741 million by the end of 2028 compared with $7,513 million in 2020, representing a compounded average growth rate (CAGR) of 5.85 percent over the period, according to Kenneth Research.
Hotter Shoes revenues up 9% over Christmas
Hotter Shoes’ revenues jumped by more than 9 percent during the key November-December trading period as its soon-to-be rebranded parent company gets set to list on the AIM segment of the London Stock Exchange (LSE) at the end of January.
Boot Barn's Q3 sales reach $486m
In its third fiscal quarter ended Dec. 25, Boot Barn posted net sales of $485.9 million, up by 71.1 percent from the quarter ended Dec. 28, 2019, according to preliminary data released by the company.
Crocs improves its 2021 sales guidance
Crocs expects to post record 2021 revenues with growth reaching 67 percent against 2020. This compares with a previous guidance of a 62-65 percent sales increase.
Shoe industry marked by IPOs and takeovers in Q4
The footwear industry witnessed further extraordinary finance transactions during the fourth quarter as companies continue to take advantage of the abundant liquidity injected into the financial system by central banks worldwide to shore up the economy after the Covid-19 outbreak last year.
Superfeet founder passes away
Dennis Brown, the founder of Northwest Podiatric Laboratory and Superfeet Worldwide, a leading American supplier of comfort insoles, died on Dec. 31 at his home in Blaine, Washington. He was 96 years old.
Portuguese shoemakers to invest €140m to bolster their competitiveness
The Portuguese footwear industry will invest €140 million over the next three years through Cluster do Calçado e Moda (the footwear and fashion cluster), a progam led by Apiccaps, the Portuguese footwear, components and leather goods manufacturers association, and the Portuguese footwear technological center, CTCP, to become “the international reference ...