All Shoe Intelligence articles in Volume 24, Issue 23+24 – Page 2
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News briefs
H&M cuts 1,500 jobs
H&M is reducing its workforce by about 1,500 positions as part of a cost savings and efficiency program. Overall, the Swedish retailer estimates the program will provide annual savings of about SEK 2 billion (€182.2m), which it expects to “become visible” in the second half of 2023. The program is ...
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ArticleCaleres maintains sales outlook as Brand Portfolio outperforms
Caleres maintained its outlook for full-year sales growth of four to six percent while tightening earnings per share expectations to the top end of its guidance range, as management confirmed the company is on track for another record year for earnings despite a challenging economic backdrop. Caleres now sees adjusted ...
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News briefs
U.S. footwear site traffic flat during Black Friday
In the U.S., footwear retailers experienced flat site traffic during Black Friday compared with the Black Friday of 2021. For all retailers surveyed, traffic grew 11 percent, according to Bluecore, a retail marketing platform. The total number orders fell by 8 percent year-over-year for footwear retailers but increased by 5 ...
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News briefs
Superdry in talks to refinance its debt
Superdry is in talks with Bantry Bay Capital, a specialist lending provider, to obtain a financing that would replace an existing £70 million (€80.1m) asset-backed lending facility which expires at the end of January. “There can be no certainty that an agreement will be reached, nor as to the terms ...
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ArticleCCC targets cost savings, cuts revenue forecast in a difficult market
CCC Group, the Polish footwear and fashion group, cut its full-year outlook for revenues and capital expenditures and announced it would put into place cost savings measures totaling 300 million zloty (€64.0 million) as it continues to navigate through what it described as an “extremely challenging” year for retailers. Due ...
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News briefs
Deckers is the winner of Black Friday in the U.S. according to a broker
Deckers Brands, the parent company of the Ugg brand, was named the clearest winner of the Black Friday week in the U.S. by the footwear and apparel team at Wedbush Securities. Ugg was one of the only brands tracked by Wedbush that was less promotional during the week in the ...
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ArticleDr. Martens warns on profits as DTC sales soften
Dr. Martens has issued a warning on full-year profits, citing weakening demand, higher investment in its direct-to-consumer (DTC) push and a stronger U.S. dollar. The British company, famed for its lace up boots now popular with celebrities, said pre-tax profit fell by 5 percent to £57.9million (€67.5m) as DTC sales ...
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News briefs
Genesco and Designer Brands appoint new board members
Genesco has appointed Matthew Bilunas and Carolyn Bojanowski as independent directors of its board, effective Jan. 29, which is the beginning of the company’s fiscal year. Bilunas is chief financial officer of Best Buy, a retailer of electronic devices, and Carolyn Bojanowski is executive vice president in charge of merchandising ...
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News briefs
Allbirds opens another store in the Boston area
Allbirds has opened its fifth retail site in the Boston area and one of the footwear brand’s biggest in the world. The store measures 3,700 square feet and uses natural materials throughout the space. It is located at 800 Boylston Street in the Prudential Center. Headquartered in San Francisco, the ...
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News briefs
Primark unveils £140m investment to open 4 new stores, create jobs
Primark plans to invest £140million (€163.1m) as it looks to increase footfall during the cost of living crisis hitting the U.K. The program will result in the opening of four new stores and the creation of at least 850 jobs. Associated British Food, the parent company of the fast fashion ...
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News briefs
Havaianas expands its flip flop ReCycle program in Asia
Havaianas has pledged to collect 10 percent of the total sold flip flops sold in its APAC locations by 2030, according to Inside Retail Asia Edition. Following on from its successful ReCycle initiative in Australia, launched in October 2021, Havaianas Asia Pacific is extending the initiative across APAC locations. In-store ...
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ArticleConsumer sentiment improves in Europe
Consumer sentiment improved slightly in Germany, France and Italy, the three main economies of the European Union, but consumers remain cautious in a difficult economic environment. In December, German consumer sentiment is expected to rise by 1.7 points to -40.2 points from -41.9 points in November, according to the market ...
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News briefs
Piquadro narrows its net loss
In the first half ended Sept. 30, the Italian leather goods firm Piquadro posted a net loss of €0.1 million, down from the €1.5 million loss a year earlier. It booked sales of €80.23 million, up by 26 percent year-on-year. Ebitda rose to €10.2 million from €8.5 million and adjusted ...
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ArticleBoohoo embroiled in another scandal on alleged working conditions
Boohoo has found itself embroiled in yet another scandal over alleged working practices after an undercover newspaper investigation. The London-based newspaper The Times placed a reporter in Boohoo’s warehouse in Burnley, north-west England, for a month, where staff described themselves as “slaves” and walked the equivalent of a half marathon ...
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News briefs
Gucci’s creative director leaves
Gucci’s creative director, Alessandro Michele, has stepped down after holding the job since 2015. During his tenure, Michele revived the Italian brand owned by the French luxury goods company Kering. In a statement, Kering said that Michele had “played a fundamental part in making the brand what it is today.” ...
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ArticleCoats’ apparel and footwear business slows down
The Apparel & Footwear (A&F) division of Coats enjoyed a 14 percent year-over-year increase in organic revenues in the first ten months of 2022 but growth slowed down to 3 percent in the four months July 1 to Oct. 31. Meanwhile, total revenues of the British company, which produces industrial ...
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News briefs
French footwear sales fall 8.2% in October
Footwear sales in France fell by 8.2 percent month-on-month in October on a seasonally and working-day adjusted basis after rising by 3.3 percent in September, according to the latest survey on retail trade released by the Bank of France. In the three months to October, shoe sales dropped by 5.2 ...
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News briefs
OrthoLite Cirql names sales director in Vietnam
U.S.-based insole specialist OrthoLite has introduced Juan Cutina as sales director for its recently launched OrthoLite Cirql division. Cirql – an EVA foam that is plastic-free, recyclable, biodegradable and industrially compostable – is a patented solution for footwear that helps brands and factories to create a circular business. OrthoLite Cirql ...
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News briefs
CCC’s shareholders approve capital boost
Shareholders of CCC Group approved plans for equity financing of up to 500 million zloty (€106.3 million), as the Polish group seeks to raise fresh cash to bring down debt. In an extraordinary general meeting on Nov. 17, shareholders approved a resolution to issue up to 14 million new shares ...
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News briefs
Oboz Footwear has a new head of finance
Oboz Footwear, an American outdoor footwear company based in Bozeman, has hired Rob Leo as its vice president of finance. Leo joins the company from Skullcandy, a provider of headphones, earphones and other devices. “Rob brings a wealth of knowledge, great ideas and enthusiasm to our finance team,” said Amy ...
