All Shoe Intelligence articles in Volume 22, Issue 9+10 – Page 3
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Article
J.C. Penney files for bankruptcy protection
Founded in 1902, J.C. Penney has filed for bankruptcy protection in the wake of the Covid-19 pandemic, following Neiman Marcus and J.Crew .
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News briefs
Boohoo raises £197.7 million as it prepares itself for acquisitions
The U.K. online fashion retailer boohoo is building up a warchest to finance takeover opportunities that are expected to arise in the coming months in the wake the Covid-19 pandemic. The company already has its sights set on potential targets. Boohoo has raised gross proceeds of £197.7 million (€221.5m-$239.5m) ...
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Article
VF claims it can navigate through the Covid storm easily
In releasing its financial results for the fourth quarter ended on March 31, the management of VF Corp. insisted that the company is in a better position than some of its competitors to navigate through the “storm” caused by the coronavirus pandemic for several reasons, including good liquidity, a ...
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News briefs
German online shoe sales rose by 5.4% in April
According to a study by the German association for e-commerce and mail order, BEVH , online sales of shoes increased by 5.4 percent year-on-year to €357 million in April. Meanwhile, total online sales in Germany increased by 17.9 percent to €6.82 billion in April. In the first four months ...
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News briefs
Deichmann donates over a million face masks to Caritas
Deichmann , Europe’s largest shoe retailer, has donated over 1 million face masks to the charity Caritas in Berlin. The masks will be donated to people in need of care, socially disadvantaged or homeless in the German regions of Berlin, Brandenburg and Western Pomerania.
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News briefs
ANWR Schuh appoints new product manager for women’s shoes
ANWR Schuh has appointed Klaus Pommering as product manager for women’s shoes. He will be reporting directly to Albert Mayer , head of purchasing and product management. Pommering, 53, was previously purchasing manager for women’s shoes at the Leiser Group , the German shoe retailer with about 40 ...
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News briefs
Two Ten faces a huge increase in demand for aid
The American footwear sector’s charity Two Ten Foundation is receiving applications for financial assistance at a rate that is 10 times greater than at any other point in its history as people find themselves out of work due to the coronavirus, Footwearbiz reported. The foundation was ...
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Article
Another difficult quarter for Grendene
After several quarters of declining sales, Grendene was starting to see the light at the end of the tunnel in the opening months of the year, but Covid-19 dashed its hopes. Results for the first quarter were disappointing for the Brazilian group, which owns brands such as Ipanema ...
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Article
Heavy losses for Yue Yuen
As China struggled with the coronavirus outbreak early in the first quarter, Yue Yen Industrial Holdings was strongly impacted by government measures to contain the spread of the disease. The world’s largest shoe manufacturer posted a net loss of $56.3 million for the period, against net income of $75.5 ...
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Article
Some shoe stores resume operations in Russia
While big cities like Moscow and St. Petersbourg are still locked down, about 15 percent of the 85 Russian regions have allowed brick-and-mortar shoe stores and a few other types of retailers of non-essential items to resume operations after President Vladimir Putin lifted the nationwide quarantine designed to fend ...
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News briefs
Yoox Net-a-Porter Group reopens distribution centers
After Yoox Net-a-Porter Group (YNPG) had to close down its online stores, Net-a-Porter , Mr Porter , The Outnet and Yoox , at the end of March, Yoox, The Outnet and Mr Porter started to work again at the end of April and Net-a-Porter took orders again from ...
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News briefs
Alibaba offers fashion labels an outlet for excess stock
Alibaba launched a new service for retailers. Called Luxury Soho , the platform is for mark-downs in the way that the group’s Tmall Luxury Pavilion is for inaugural collections. Through it, fashion labels can manage inventory while targeting specific markets, notably Millennials and Gen Z in China’s secondary ...
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News briefs
Superga opens first flagship store in Germany
Superga , part of BasicNet , the parent company of Kappa , K-Way , Superga and other brands, opened a new flagship store in Berlin on May 2. The store covers 80 square meters and is located in the Bikini shopping mall. Superga had already opened a pop-up ...
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News briefs
Cat Footwear has a new global brand president
Cat Footwear , a division of Wolverine Worldwide , has appointed Chip Coe as its global brand president. He will be reporting to Chris Hufnagel , who belongs to Wolverine’s executive team and is global brand president of Merrell . Coe has been with Wolverine since 2010, serving as ...
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Article
U.S. footwear retailers reopen amid consumer wariness
American footwear retailers are gradually reopening with the staggered lifting of the lockdown in the U.S., but local consumers have expressed unease about shopping as the country continues to be affected by the Covid-19 pandemic.
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News briefs
Zalando opens new outlet stores, plans five extra outlets by 2022
Zalando has opened a 1,400-square-meter outlet store in Mannheim, bringing the total to nine in Germany. The opening was planned for April but was postponed after the recent lockdown in the country and the subsequent gradual reopening that was initially limited to stores of up to 800 square meters. ...
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Article
Tod’s very prudent as Q1 sales drop nearly 30%
In the first quarter, Tod’s sales fell by 29.4 percent to €152.8 million due to the impact of the Covid-19 pandemic and the company’s “very prudent” delivery policy, both toward its stores and wholesale clients. At constant currency rates, revenues fell by 29.7 percent. All the group’s brands and geographies ...
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Article
Ferragamo sees strong signs of recovery in China, South Korea
Salvatore Ferragamo swung to a net loss in the first quarter of the year, but it has seen strong signs of recovery in sales in China and South Korea since early May.
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News briefs
Le Coq Sportif and its parent book a loss for 2019
Airesis , the Swiss holding company of Le Coq Sportif and Movement Skis , reported a net loss of CHF 11.4 million (€10.8m-£11.8m) for 2019, compared with a loss of CHF 891,000 in the prior year. Consolidated revenues rose by 3 percent to CHF 157.5 million (€149.7m-£162.6m). ...
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News briefs
Paris, Milan take to digital catwalk
The Paris and Milan fashion weeks for the presentation of spring/summer 2021 menswear collections will be held digitally this year, with Paris preceding Milan and inverting the traditional international fashion show calendar as presentations go online due to the Covid-19 pandemic. Fédération de la Haute Couture et de la ...
