Amazon’s sales slow down in Q2
Amazon posted net sales of $113.1 billion in the second quarter ended June 30, representing a 27 percent increase as compared to the prior year quarter. It was also, however, a significant slowdown from the second quarter of 2020, when sales jumped by 40 percent. Excluding the $2.5 billion favorable ...
Square to buy Afterpay in $29bn all-stock deal
The American fintech Square has reached an agreement to buy the Australian firm Afterpay in an all-stock deal with an implied value of about $29 billion based on Square’s share price on July 30. Afterpay specializes in buy now, pay later (BNPL) services.
VF raises FY guidance as Q1 sales and profits beat estimates
VF Corp lifted annual guidance after posting better-than-expected earnings and sales in its first quarter as retail demand for the company’s top brands continued to recover from the impact of the Covid-19 pandemic. Revenue for the three months to June 30 more than doubled year-on-year to $2.19 billion against analysts ...
ThredUp buys European resale platform Remix
ThredUp, a U.S. online resale platform for women’s and kids’ apparel, shoes and accessories, has entered into a definitive agreement to acquire Remix, a Bulgarian-based fashion resale company. The acquisition will accelerate thredUP’s growth plans in Europe, where the secondhand market was estimated to be $21 billion in 2020 and ...
Hermès’ sales rise sharply in H1
The revenues of the French luxury goods group Hermès totaled €4,235 million in the first half, an increase of 77 percent year-on-year at constant exchange rates and 70 percent at current rates led by the Americas.
Tapestry creates foundation, boosts ESG targets
Tapestry, the New York-based owner of Coach, Kate Spade and Stuart Weitzman, has formed the Tapestry Foundation to advance access and equity initiatives and to combat climate change. In addition, the American group is accelerating and amplifying its environmental, social and governance (ESG) targets and committing to a $15 U.S. ...
APLF rescheduled to March 2022
The organizers of APLF-Leather, Materials+ and Fashion Access have rescheduled the events from November 17-19, 2021 to March 30-April 1, 2022 in Hong Kong. The events had already been posptoned from July 5-7 due to restrictions caused by the Covid-19 pandemic.
Aeffe’s footwear, leather goods sales up 43.0%
In the first half of 2021, the footwear and leather goods division of Aeffe, the Italian fashion house that owns Pollini and other brands, posted an increase in sales of 43.0 percent at constant currency rates to €68.2 million. The division’s Ebitda rose to €8.0m, representing 11.8 percent of sales, ...
Grendene Q2 hit by Covid-19 resurgence
In the second quarter of 2021, the Brazilian shoe maker Grendene was affected by a resurgence of the Covid-19 pandemic in Brazil between March and April, resulting in lockdowns and lower-than-expected orders during the two months as more than 65 percent of the country’s retailers were closed.
Jimmy Choo sees annual sales at $550m
In the first quarter ended June 26, Jimmy Choo posted revenues of $142 million, up by 178 percent from the prior year when results were badly hit by the outbreak of the Covid-19 pandemic. The top line grew by 147 percent on a constant currency basis. The brand posted an ...
Geox closes its Serbian factory
Geox is closing down its Serbian plant in Vranje due to a decline in demand for formal men’s and women’s shoes, in which the factory is specialized.
Aquafil launches consumer e-shop for Econyl products
The yarn supplier Aquafil is reaching out to consumers. The Italian company has just launched an Econyl e-shop platform, where – for the first time – customers can buy a range of sports, lifestyle and fashion products made from the company’s regenerated nylon Econyl directly in one place. According to ...
Deckers Brands posts Q1 sales growth, raises FY outlook
Deckers Brands reported a first-quarter revenue increase of 78.2 percent to $504.7 million, while the company’s earnings per share increased to $1.71 compared to basic loss per share of $0.28 for the same period last year. The company has raised its full-year fiscal 2022 outlook and now expects earnings per ...
Dr. Martens warns of shipping delays due to Covid-19
The iconic British shoemaker Dr. Martens reported a big jump in first-quarter revenues, driven by continued growth in online sales and the reopening of stores.
Shoepassion launches digital photo measurement tool
Berlin-based footwear company Shoepassion expanded its Shoepassion ID foot measurement tool with a specially developed allocation algorithm that allows to automatically identify the right shoe size through a smartphone camera.
Lloyd Shoes expands sustainable product range with two new collections
The German shoe maker Lloyd Shoes is expanding its sustainable product range with the launch of new men’s and women’s collections crafted in innovative alternative materials for the coming autumn/winter season.
Prada operating profit above pre-Covid level
Prada finished the first half with earnings before interest and taxes (Ebit) above pre-Covid levels thanks to a recovery in sales and disciplined cost management.
Steve Madden Q2 above expectations
Steve Madden saw a 178.6 percent increase in revenues in the second quarter of 2021 to $397.9 million from $142.8 million a year earlier, when sales were badly affected by the the Covid-19 pandemic. Over the period, the gross margin widened to 42.7 percent from 39.1 percent.
OrthoLite pushes for zero waste in insoles
U.S. insole specialist OrthoLite, a supplier for over 350 footwear brands worldwide, has announced a widespread zero waste initiative to reduce the environmental impact of its products that are used in roughly 500 million pairs of shoes every year. The company’s commitment includes investment in a proprietary manufacturing system that ...
Dr. Martens opens a store in Hamburg
On July 22, Dr. Martens opened its first store in Hamburg on Mönckebergstrasse in Hamburg. The 107 square meter store contains artwork made by the local graffiti artist Anna T-Iron.