All Shoe Intelligence articles in Volume 24, Issue 23+24 – Page 5
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ArticleFlorence buys a third footwear manufacturer
Gruppo Florence has bought a third Italian footwear company with the acquistion of Taccetti, located in Montelupo Fiorentino in Tuscany. Founded in 1954, but with a founding family involved in footwear since 1880, Taccetti produces luxury women’s shoes. It employs 270 people and has a production capacity of 2,000 ...
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ArticleCrocs raises guidance after another strong quarter
Strong third-quarter results at Crocs were negatively impacted on the gross margin line by inflationary expenses and higher freight and inventory handling costs, but 45 percent of the expenses are seen as transitory. Gross margin came in at 54.9 percent against 63.9 percent in the year-ago period ended Sept. 30. ...
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News briefs
Scarpa leads EU-funded recycling project
Scarpa, the Italian outdoor footwear specialist, has announced the launch of Re-Shoes, a recycling initiative backed by the European Union (EU). As the project leader, Scarpa will coordinate the efforts of a consortium of international companies that involve the recycling of end-of-life footwear reprocessed into new footwear. The project, which ...
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ArticleRocky Brands lowers FY revenue outlook
Despite reporting steady or strong sales from its portfolio of footwear brands during the third quarter, Rocky Brands has lowered its full-year revenue outlook due to a difficult, year-over-year sales comparison in the fourth quarter. Through nine months, the parent of the Durango and Georgia brands, among others, had a ...
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ArticleWeyco expects sales dip after record Q3
Weyco Group generated record sales in the third quarter of 2022, with revenues jumping by 56 percent compared to the year earlier to $97.0 million. Growth was led by its North America wholesale business and underpinned by strong consumer demand, higher selling prices and the “abnormally low” revenues seen in ...
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News briefs
eBay’s sales continue to decline
eBay has posted another revenue decline in the third quarter, which was marked by inflation and economic worries. In the quarter ended Sept. 30, revenues fell by 5 percent year-on-year to $2.4 billion. Adjusted income fell by 7 percent to $552 million. eBay has been struggling since the pandemic online ...
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News briefsNext maintains FY guidance as Q3 comes in ahead of expectations
Next maintained its full-year guidance as it posted a rise in third-quarter sales, despite soaring inflation hitting consumer spending. Full-price sales were up by 0.4 percent year-on-year in the 13 weeks to Oct. 29, slightly ahead of the expectations of the British fashion retailer. Online sales fell by 1.9 percent ...
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ArticleZalando resumes growth in Q3
In the third quarter of 2022, Zalando’s net loss widened to €35.4 million from €8.4 million a year as capital expenditure grew to €77.0 million from €57.7 million. However, the German online fashion retailer resumed sales growth after a weak first half. In the third quarter, the gross merchandise volume ...
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News briefs
Revenues of major fashion groups up 18%
Global revenues for the major players in the fashion sector rose by 18 percent in the first nine months of 2022, with a 15 percent rise at constant currency rates, according to a report from the research arm of the Italian investment bank Mediobanca. The report analyzed the results of ...
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ArticleEmerging designer: Scylia Chevaux’s debut collection appeals to Japanese department stores
Held back, as was much else, by the Covid pandemic, and originally intended to be launched at least a year earlier, Scylia Chevaux’s 10.2” range made its debut of men’s and women shoes, boots, and accessories, at the September 2022 edition of the Micam footwear show in ...
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News briefs
H&M’s Arket opens flagship in Paris
The first French flagship store of Arket, H&M’s “one-stop destination for sustainable fashion for women, men and children,” opens Nov. 4 in a sleek Scandinavian design at 13 Rue des Archives in Paris. The store covers 400 square meters on two floors and overlooks a courtyard with a terrace. Arket ...
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ArticleCCC to raise funds, restructure debt
CCC Group announced plans to extend the duration of financing set to mature in the first half of 2023 and has called an extraordinary general meeting of shareholders on Nov. 17 to discuss equity financing of up to 500 million zloty (€106.3m) as it looks to raise fresh cash to ...
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ArticleVulcabras’ operating margin narrows in Q3
Vulcabras’ recurring net income rose by 36 percent to 99.9 million Brazilian reais (€19.6m) in the third quarter of 2022 from R$73.6 million a year earlier. Ebitda declined by 4.8 percent to R$132.2 million (€25.9m) from R$138.9 million and the Ebitda margin narrowed by 6.0 percentage points to 19.9 percent. ...
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News briefs
German energy price cap effective from early 2023
German energy price caps announced by the Chancellor Olaf Scholz to mitigate the impact of inflation will go into effect in early 2023, according to a government timetable. The gas price effect is set to go into effect on Jan. 1 for large companies and on March 1 for households ...
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News briefs
Amazon provides weak guidance for holiday season
Amazon has announced a net sales increase of 15 percent to $127.1 billion in the third quarter ended Sept. 30. Excluding the $5.0 billion unfavorable impact from year-over-year changes in foreign exchange rates during the quarter, net sales increased 19 percent versus third quarter 2021. Sales at the Amazon Web ...
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News briefs
Shopify sales rise 22% in Q3
In the third quarter, the e-commerce platform Shopify, headquartered in Ottawa, Canada, posted a 22 percent year-over-year revenue increase to U.S. $1.4 billion. “Our merchant solutions revenue as a percentage of GMV climbed to 2.14 percent, the highest level in Shopify’s history,” commented Harley Finkelstein, Shopify’s president. Despite the revenue ...
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