All Shoe Intelligence articles in Volume 19, Issue 11-12
View all stories from this issue.
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Article
Shoe Zone suffers from the weak pound
Shoe Zone, the U.K.'s biggest discount shoe retailer, saw revenues and profits drop in the six months ended 1 April due to the devaluation of sterling and continued store closures. As a result, it offered a cautious outlook for the remainder of the year.Sales declined by 2.3 percent over the ...
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Article
Leiser opens insolvency proceedings
The Leiser Group, with its 40 Leiser and Schuhhof stores, filed for insolvency proceedings under its own management at the local court of Augsburg in March, as previously reported. The proceedings were formally approved and opened on May 26. Three trustees from the Schneider Geiwitz law firm - Arndt Geiwitz, ...
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News briefs
In a preliminary statement, Zalando said its sales grew by...
In a preliminary statement, Zalando said its sales grew by between 22 and 24 percent in the first quarter of 2017, generating an operating margin of between one and three percent – lower than analysts had estimated. It confirmed projections for this year of growth between 20 and 25 percent ...
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News briefs
As reported in our last issue, a French startup, Saola,...
As reported in our last issue, a French startup, Saola, launched a campaign on Kickstarter on May 23 to collect funds for the development of its new eco-friendly shoes. After only 13 days, the brand reached its goal of raising a first batch of $25,000 to get the production started. ...
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News briefs
Fornarina has inaugurated a new showroom in Hong Kong, inside...
Fornarina has inaugurated a new showroom in Hong Kong, inside the Silvercord Building. Fornarina was acquired by Bright Fame Holdings, based in Hong Kong, last November. The new showroom is part of the brand's expansion plans in the Asia-Pacific region. Fornarina generates 35 percent of its revenues in Italy and ...
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Article
Kinnevik sells final stake in Rocket Internet
Kinnevik has sold its remaining stake in Rocket Internet, a German e-commerce company, for €244 million. The Swedish investment company was one of the first investors in Rocket after the founders, the Samwer brothers, Marc, Oliver and Alexander.Founded in 2007, Rocket Internet is one of Europe's most valuable tech groups. ...
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Article
Spanish shoe exports stabilize
After the unusual decline in value that they suffered in 2016, Spain's footwear exports dropped by only 1.02 percent to €834 million. Like last year, they carried lower average prices than before, as the total volume went up by 3.4 percent to 48 million pairs during the period.Average export prices ...
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News briefs
“Italian Shoes, European Footprint” is the title of the exhibition...
“Italian Shoes, European Footprint” is the title of the exhibition that opened in Brussels, in the premises of the European Parliament, on May 30. The event is promoted by Assocalzaturifici in collaboration with Colosseum, a cultural association based in Rome. The exhibition, which showcases the evolution of shoes across history, ...
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Article
SLEM will go on without van Enten
On June 7, the local newspaper in Waalwijk, Netherlands officially announced the departure of Nicoline van Enter, founder and head of SLEM (Schoenen Leder Educatie Museum), and its commercial director Thijs Torreman. Countering a report in the newspaper that they had been dismissed by municipal authorities, van Enter said that ...
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Article
Genesco’s earnings top guidance
The share price of Genesco, the U.S.-based owner of Journeys, Schuh, Lids and other retail banners, tumbled by 22.8 percent after the company revised down its guidance for 2017 following weaker-than-expected results for its first quarter ended April 29, 2017. Net income dropped by 90.6 percent from the year-ago quarter ...
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Article
DSW posts higher sales but profits tumble
DSW's shares dropped by 7.0 percent after it posted mixed results for its first fiscal quarter ended April 30, 2017. The American shoe retail chain's net income tumbled by 23.0 percent over the year-ago quarter to $23 million, with the company attributing this to planned clearance activity, restructuring costs, currency ...
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News briefs
The second edition of the European Shoeshow in Cologne, organized...
The second edition of the European Shoeshow in Cologne, organized by Wellfairs, has been cancelled. The show was supposed to take place on Sept. 24-25, but only 30 exhibitors registered for the show. Observers feel that suppliers may want to see the results of the first edition of the new ...
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Article
Payless will close more stores
Payless ShoeSource is looking to double the number of store closures that it had originally considered. The company filed for bankruptcy in early April and is asking the federal bankruptcy court in St. Louis, Missouri to be allowed to take steps to further rationalize its store network in the U.S. ...
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News briefs
Giggs, a German online retailer specializing in children's shoes, has...
Giggs, a German online retailer specializing in children's shoes, has decided to close up shop, reportedly because more than 60 percent of the products ordered were being returned. Giggs was asking parents to take measurements of their children's feet before placing their orders.
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News briefs
Wolfgang Illers, the long-time chief financial officer of the Wortmann...
Wolfgang Illers, the long-time chief financial officer of the Wortmann Group, has announced his retirement from the firm after 26 years. Tobias Seng, who has functioned as co-CFO of the big shoe producer since April, now assumes full responsibility for the position. The Wortmann Group, based in Detmold, Germany, is ...
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News briefs
Peter Prange, chief executive of the Klauser/Salamander group, left the...
Peter Prange, chief executive of the Klauser/Salamander group, left the company as planned on June 1, but will support it in an advisory capacity. Uwe Gradias and Heinrich Traude who joined the executive board of the company on May 1, following the acquisition of Salamander Germany and Schuhaus Klauser by ...
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News briefs
Cheaney has introduced the Donnington, a moccasin inspired by the...
Cheaney has introduced the Donnington, a moccasin inspired by the Italian driving shoes first produced in the 1960s. The new shoe will be made at a factory in Italy, rather than in Cheaney's own factory in Desborough, in the U.K., as the specialist machinery that is required to construct a ...
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News briefs
Ed Rosenfeld, the chairman and chief executive of Steve Madden,...
Ed Rosenfeld, the chairman and chief executive of Steve Madden, has been elected chairman of Footwear Distributors and Retailers of America (FDRA), the main shoe industry association in the U.S., as part of an executive reshuffle. Mike Jeppesen, president of the Global Operations Group and the Wolverine Heritage Group at Wolverine ...
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Former Porsche CEO puts more money into Shoepassion
Wendelin Wiedeking, the former chief executive of Porsche, has reportedly invested “several million euros” in Shoepassion. The investment will enable the young startup, based in Berlin, Germany, to strengthen its position and to grow internationally as a premium omni-channel retailer.Wiedeking became financially involved with Shoepassion when it merged with a ...
