All Shoe Intelligence articles in Volume 22, Issue 5+6 – Page 4

  • Article

    Shandong Ruyi fails to complete Bally’s takeover

    2020-03-24T11:14:00Z

    It’s not clear at this stage whether Shandong Ruyi will be the new owner of Bally . The Chinese textile and clothing manufacturer has failed to obtain financing to complete the $600 million acquisition of the Swiss shoe brand, according to the Reuters . Bally confirmed that the deal that ...

  • Article

    Vulcabras has restructured its production

    2020-03-24T11:13:00Z

    Noted for its insistence on local manufacturing of athletic and women’s shoes, the Vulcabras Azaleia group completed the second wave of expansion of its two main factories in Brazil at the end of last year. While starting the second phase of its expansion program, it concluded in January the sale ...

  • Article

    Alpargatas’ growth softened in Q4

    2020-03-24T11:12:00Z

    Against the backdrop of a Brazilian economy that grew by just 1.0 percent in 2019, in line with the previous one, Alpargatas ’ consolidated revenues grew by 9.8 percent last year to 3,712 million Brazilian reais (€672.4m-$724.4m), driven by the improvement of Havaianas in international markets. The adjusted net income ...

  • Article

    E-commerce drove Steve Madden

    2020-03-24T11:11:00Z

    Steve Madden issued a cautious outlook for 2020 due to headwinds from the coronavirus outbreak, China tariffs and the termination of the Kate Spade footwear license. It said on Feb. 27 that it expected revenues to remain flat or to increase by 1 percent compared with 2019, but then on ...

  • Article

    Florsheim outperforms Bogs

    2020-03-24T11:11:00Z

    After three quarters of growth, Bogs ’ sales declined in the fourth quarter of 2019, by 5 percent. The brand’s parent company, the Weyco Group , which also owns the international Florsheim network of stores, said that warm temperatures and lower precipitation across large parts of Canada and the U.S. ...

  • Article

    Designer Brands closes all U.S. stores

    2020-03-24T11:10:00Z

    Designer Brands , the American shoe retailing group previously called DSW , managed to significantly narrow its net loss in the fourth quarter. However, this good performance might be short-lived, as the group announced that it has closed all its stores in the U.S. from March 17 until further notice, ...

  • Article

    Britain’s Schuh Group tops guidance at Genesco

    2020-03-24T11:09:00Z

    Genesco , the parent company of shoe retail chains such as Journeys and Johnston Murphy in the U.S. and Schuh in the U.K., achieved profits that exceeded analysts’ expectations. Its net income for its fourth fiscal quarter, ended on Feb.1, reached $35.5 million, compared with a loss of ...

  • Article

    Famous Footwear stands out in Caleres’ results

    2020-03-24T11:08:00Z

    Last week Caleres withdrew its previous financial outlook, which included the estimated impact of the supply chain disruption related to the coronavirus outbreak during the first quarter of the current financial year. Its forecast called for its total revenues to remain flat this year, with those of its Brand Portfolio ...

  • Article

    After Europe, the U.S. shuts down at retail

    2020-03-24T11:08:00Z

    In the last few days, major shoe retail chains in the U.S. have announced a temporary closure of their stores because of the coronavirus epidemic, while continuing to pay the store personnel. Shoe Carnival , which is set to report its latest results later this week, said on March 19 ...

  • Article

    Weak sales of winter footwear in Russia and Ukraine

    2020-03-24T11:07:00Z

    Footwear retailers in Russia and Ukraine experienced a slump in sales because of abnormally warm weather this season. Sales in all categories of winter products plummeted by between 6 and 25 percent in Ukraine as compared to the previous winter, according to Igor Zabulonsky , general director of KarKat ...

  • Article

    Rocky Brands’ momentum continues

    2020-03-24T11:05:00Z

    After several quarters of good results, Rocky Brands ended the year on a high, scoring a net income increase of 41.0 percent for the fourth quarter to $5.1 million, on revenues that went up by 12.1 percent to $75.3 million, both exceeding analysts’ forecasts. The management attributed the significant ...

  • Article

    Crocs returns to profits in Q4

    2020-03-24T11:04:00Z

    Crocs continued to reap the benefits of its efforts to restructure, ending the year with a profit against a loss for the same quarter a year ago. In the fourth quarter ended Dec. 31, it delivered strong direct-to-consumer (DTC) growth and sell-through at the wholesale level, leading revenues to reach ...

  • Article

    Chemicals and coronavirus weigh on Wolverine’s results

    2020-03-24T11:03:00Z

    The group’s two biggest footwear brands, Merrell and Sperry, helped Wolverine Worldwide finish the last year on a high in terms of revenues, with both of them scoring growth in the mid-teens for the fourth quarter ended on Dec. 28. The company also benefited from an acceleration in direct-to-consumer sales ...

  • Article

    Geox’s FY net loss widens on one-off charges, lower sales

    2020-03-24T11:02:00Z

    Geox ’ net loss for the last financial year widened to €24.8 million from €5.3 million in 2018 as the company booked €15.0 million in one-off costs, against €9.8 million the previous year, and suffered a 2.6 percent decline in sales to €805.9 million (see Shoe Intelligence Vol. 22 n. ...

  • Article

    Italian fashion groups cut costs to mitigate coronavirus impact

    2020-03-24T10:59:00Z

    Tod’s , Salvatore Ferragamo , Prada and Aeffe , which are all listed companies, have announced measures to cut costs in order to mitigate the impact of the novel coronavirus epidemic, which has affected sales and manufacturing. Tod’s noted that the arrival of the novel coronavirus, known as Covid-19, ...

  • Article

    Gallery Shoes in the time of coronavirus

    2020-03-24T10:54:00Z

    After intensive consultations, and with the backing of the Federal Association of German Shoe Retailers (BDSE) and the Federal Association of the German Footwear and Leathergoods Industry (HDS/L) , the Gallery Shoes show took place as scheduled in Düsseldorf on March 8-10. According to the organizers, major global events ...

  • Article

    Lower attendance at Micam

    2020-03-24T10:53:00Z

    Attendance at Micam’s 89th edition, held on Feb. 16-19 in Milan, fell by 5 percent as compared to a year ago, largely due exceptional circumstances, according to the organizers, who had actually expected a higher rate of decline, considering especially the reports available at the time about the effect of ...

  • Article

    Lorenzo Moretti becomes new EMEA boss of Dr. Martens

    2020-03-24T10:52:00Z

    For about two years now, Dr. Martens has been opening new monobrand stores – now there are also innovations at the top of the European market: Lorenzo Moretti will be the new president for the EMEA region of Airwair International , the parent company of Dr. Martens. He comes ...