All Shoe Intelligence articles in Volume 24, Issue 17+18 – Page 3
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ArticleStuart Weitzman is profitable again despite a weak Q4
Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, posted higher sales and returned to an operating profit in the full year ended on July 2 despite a weak fourth quarter. Revenues for the full year increased by 12 percent to $317.7 million, or by 11 percent on ...
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News briefs
Allbirds appoints a Nike veteran to its board
Allbirds appointed Ann Freeman to its board of directors, effective Aug. 16. Freeman is an industry veteran who spent more than 26 years at Nike, where she held multiple leadership positions across all major global markets. Most recently, she was VP and GM of North America, Nike’s largest market, where ...
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News briefs
Veja launches a shoe repair service in Berlin
On Sept. 1, a sneaker repair shop will come on stream in the newly opened Veja store in Berlin-Mitte. The repair service will be available to Veja sneakers and other brands. Veja’s store is located at Alte Schönhauser Str. 42, and is open Monday through Saturday from 10 am. to ...
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ArticleHow a Serbian shoemaker is benefiting from Russia’s need for new suppliers
The huge exodus of Western brands out of Russia following the country’s invasion of Ukraine in Feb. 24, has created a void benefiting to companies from countries non abiding to Western sanctions. Thanks to tight historical and cultural ties, Serbia continues to trade with Russia, even though the country has ...
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News briefs
TJX’s sales decline in Q2 and are expected to be weak in H2
TJX rerported that in the second quarter ended July 30 net sales fell by 2 percent year-on-year to $11.8 billion as U.S. comparable store sales decreased by 5 percent. Net income for the second quarter was $809 million, and diluted earnings per share (EPS) were $0.69 versus $0.64 a year ...
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News briefsAsos’ COO and CFO Mat Dunn steps down
Asos’s chief operating officer (COO) and chief financial officer (CFO) Mat Dunn and the board of the British fashion online retailer have agreed a phased plan under which the manager will step down from his roles as the company restructures its executive team. The announcement comes two months after the ...
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News briefsVulcabras’ sales, profits soar in Q2
Vulcabras’ net income rose by 207 percent to 95.0 million Brazilian reais (€18.1m) from R$30.9 million for the period ended June 30. Operating earnings (Ebit) increased 73 percent to R$236.2 million (€45.1m). Ebitda was 30 percent higher at R$133.4 million (€25.5m) as the year-on-year gross margin percentage improved to 36.0 ...
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ArticleAlpargatas sees Havaianas’ revenues fall double-digit rates in U.S., China
Alpargatas suffered double-digit rate declines in the sales of its rubber sandal brand in both the U.S. and China during the second quarter but realized an 11.8 percent increase in price per pair during the period. Havaianas’ sales declined 46.3 percent in China to 8.7 million Brazilian reais (€1.7m) due ...
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News briefsThredUP loses $28 million in Q2, to axe 15% of headcount
ThredUP, a Californian company operating in the apparel resale market that also provides a platform for third-party brands, announced its financial results for the second quarter ended June 30. Revenues increased by 27 percent to $76.4 million, while active buyers increased by 29 percent to 1.7 million. The gross margin ...
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ArticleABG reaches deal to take over Ted Baker
The American brand management company Authentic Brands Group (ABG) and Ted Baker have reached an agreement on the terms of a recommended final cash offer by ABG-Robin BidCo, a newly incorporated entity wholly-owned by ABG, to acquire the entire share capital of the British fashion group for 110 pence ...
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Article
Yue Yuen H1 profits dragged down by Pou Sheng
Yue Yuen reported a 2.8 percent increase in first-half net income of $175.0 million versus $170.3 million for the six months ended June 30. Six-month revenues fell by 2.0 percent to $4,709,792,000 from $4,807,087,000, however, manufacturing segment sales were up by 14.4 percent to $3.19 billion. Ebit declined 17.7 percent ...
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ArticleWolverine lowers FY forecast
Wolverine Worldwide, concerned about inventory escalation in various U.S. retail channels and the likelihood of higher wholesale order cancellations in the market for the remainder of the year, has lowered its FY22 outlook downward. Lingering supply chain delays and currency exchange rates also contributed to the revision. The adjustment was ...
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News briefs
Ferragamo partners with Farfetch
Salvatore Ferragamo has entered into a partnership with Farfetch as part of its plan to widen its audience and engage with younger consumers. The commercial agreement will enable Ferragamo to benefit from a global audience through Farfetch Marketplace and benefit from the services of Farfetch Media Solutions. Marco Gobbetti, Ferragamo’s ...
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ArticleCoats buys Renoflex and becomes a footwear component giant
Hot on the heels of the acquisition of Texon, a U.S. provider of footwear solutions, Coats announced the takeover of Rhenoflex, a German manufacturer of structural material solutions for the footwear industry. The back-to-back acquistions have turned the British industrial thread manufacturer into a significant supplier of components for the ...
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ArticleJimmy Choo continues to grow strongly
In the first quarter ended July 2, Jimmy Choo posted revenues of $172 million, up by 21.1 percent year-over-year on a reported basis and by 30.3 percent at constant currency rates. Excluding mainland China, which has been impacted by tough Covid-19 restrictions, revenues grew a reported 32 percent and 43 ...
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News briefsAssocalzaturifici picks Giovanna Ceolini as acting president
Giovanna Ceolini has been appointed acting president of Assocalzaturifici, the Italian footwear association. She replaces Siro Badon, who resigned on July 26 for personal and professional reasons. Ceolini was chosen based on the association’s bye-laws that establishes that in the event of the early resignation of the president, he is ...
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News briefs
McLaren teams up with Athletic Propulsion Labs
British carmaker McLaren Automotive and Athletic Propulsion Labs (APL), a high-performance athletic footwear brand, have teamed up to create a new range of luxury footwear. The first offering from the collaboration is the limited-edition APL | McLaren HySpeed, a new silhouette designed as an all-purpose performance running shoe inspired by ...
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ArticleAllbirds cuts costs and jobs as loss widens
Allbirds reported a net loss of nearly $29.4 million in the second quarter ended June 30 against a loss of $7.6 million a year earlier. The operating loss was $29.3 million versus a loss of $4.17 million. Total revenues increased by15 percent, or 18 percent currency-neutral, to $78.2 million from ...
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News briefs
Issey Miyake dies at 84
The Japanese designer Issey Miyake has died at the age of 84. Miyake was born in Hiroshima in 1938 and moved to Paris in the 1960s, where he worked with fashion designers Guy Laroche and Hubert de Givenchy. After moving to New York for a short time, he headed back ...
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