All Shoe Intelligence articles in Volume 25, Issue 11+12
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 25 - 11+12
Expo Riva Schuh adds two new halls and expects a “huge” attendance | Dr. Martens warns of declining margins in the current fiscal year | Unbound puts itself up for sale as funding crisis continues | Coats’ sales are hit by destocking | Shoe Zone’s half-year sales surge, but profit halved | Jimmy Choo posts record sales and is set to continue growing | Geox trims 2023 sales target after 21% increase in Q1 | Permira buys a majority stake in Gruppo Florence | Tod’s’ Q1 sales beat expectations | Prada’s Q1 footwear sales up 20% | How an Italian startup is working with the fashion industry to promote upcycling | Russia’s Zenden plans to push on sports footwear | Authentic Brands Group buys the rights to the Hunter brand | Genesco slashes its FY earnings guidance on “dramatic” change in consumer sentiment | Caleres launches a cost-savings program as business softens | Shoe Carnival trims its FY guidance as first-quarter sales fall | Steve Madden’s Q1 sales decline despite growth outside the U.S. | Stuart Weitzman’s Q3 sales up a currency-neutral 10% | Hoka sales seen rising 20% in FY24, continuing to underpin Deckers growth | Wolverine explores options for Sperry | VF Corp. has a “realistic” turnaround strategy in place | Allbirds reports wider loss but outlines cost-saving measures | Boot Barn reports lower-than-expected Q4 revenues, expects weak sales in Q1 | Yue Yuen Q1 results impacted by soft global footwear demand | Relaxo’s FY revenues rise but earnings slip on higher costs | One of Alpargatas’ main shareholders wants to increase its stake | Grendene sales inch up despite challenging domestic market, slump in exports | Asos raises £80m by issuing shares | Boohoo swings to FY loss but forecasts return to profit this year | Farfetch resumes growth in Q1 and confirms its full-year guidance | Alibaba misses revenue forecast but steps up investments | Amazon posts 9% sales increase in Q1
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News briefs
Coats appoints BNP Paribas as joint broker
Coats, the British manufacturer of industrial thread and footwear components, has appointed BNP Paribas as its joint corporate broker alongside Peel Hunt, its existing corporate broker, with immediate effect.
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News briefs
Vibram launches eco-friendly FiveFingers models
Vibram, the Italian manufacturer of high-performance soles, continues to reduce its environmental footprint by “sustainably making over” two of its Vibram FiveFingers barefoot shoe models, the FiveFingers KSO Eco and the Vibram FiveFingers Vi-B Eco. To do so, the R&D department has developed eco-friendly rubber compounds and is using new, ...
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News briefs
Sorel’s president steps down
Columbia Sportswear Company announced that Mark Nenow, president of the Sorel brand, has resigned to focus on his health. Nenow joined the company in 2007 to lead footwear. He recognized a unique opportunity to transform the Sorel brand, from primarily a men’s winter work boot to a fashion-forward, all-season women’s ...
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ArticleGörtz may have found a new investor after the Wangenheims back down
The troubled Hamburg-based shoe retailer Görtz has reportedly found a new investor, potentially bringing a long period of uncertainty to an end. After an eventful year, marked by a capital injection from the German government, a sweeping reorganization effort, a pandemic-driven bankruptcy, a tentative deal with new investors and their ...
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ArticleDr. Martens warns of declining margins in the current fiscal year
Shares in Dr. Martens nosedived as the British bootmaker warned that operating margins for the full year ending in March 2024 could be lower than in the previous 12 months because of extra costs stemming from blunders at its Los Angeles distribution center. Current full-year Ebitda margins are expected to ...
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News briefs
Asos out of fashion as shares dumped from FTSE 250
The British fast fashion retailer Asos, once valued at more than £7 billion (€8bn), has been relegated from London’s FTSE 250 index of mid-sized companies, a sign of how its performance has declined in the post-Covid pandemic recovery. Its shares were worth 333 pence each on June 1, giving it ...
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ArticleCaleres launches a cost-savings program as business softens
Caleres is the latest of string of footwear companies announcing weaker-than-expected sales because of a “challenging” U.S. retailing environment. To maintain its adjusted earnings guidance for the full year, the group launched a cost-saving program. In the first quarter ended April 29, net sales were down by 9.8 percent year-over-year ...
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ArticleList prices for sneakers up 6.5% this year in U.S.
The average list price of sneakers in the U.S. at least seems to be higher than ever. What is certain, according to the latest edition of the USA Sneaker Market Index, is that said average list price has reached its highest point since the start of 2020, rising 14 percent. ...
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News briefs
Asos reportedly received a more than £1bn takeover approach in December
The Sunday Times reported that Asos had last December received a more than £1 billion (€1.5bn) approach from Trendyol, a Turkish company backed by the Chinese online giant Alibaba. A deal would have valued the British retailer at between £10 (£11.6) and £12 (13.9) per share, valuing the company at ...
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News briefs
Uwe Decker joins Solidus as CEO
The German shoe retailer Solidus announced a change at its helm. The Tuttlingen-based company has appointed an industry veteran, Uwe Decker, as CEO, succeeding Yvonne Breinlinger-Scheuring effective from Aug. 1, according to a statement. Over the course of his long career, Decker has held various management positions at well-known ...
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News briefs
Reno’s Swiss subsidiary also files for bankruptcy
Just weeks after Reno and its Austrian subsidiary filed for bankruptcy, the German shoe retailer’s Swiss subsidiary has followed suit at a cantonal court in Zug. The future of the company’s 65 employees and 16 branches is now uncertain. Reno’s Swiss subsidiary was caught up with the same problems ...
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News briefs
Gabor’s CEO Achim Gabor resigns
Achim Gabor, the CEO of the German shoe manufacturer Gabor Shoes AG, announced that he will be leaving the company by mid July 2023 for health reasons. Business operations will continue without restrictions, the Rosenheim-based company said in a statement. “All our customers, suppliers and partners can rely ...
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News briefs
German retail association cuts 2023 online sales forecast
HDE, the German retail association, has cut its online sales forecast as persistently high inflation has dampened consumer sentiment amid a continued reluctance to spend. For 2023, HDE has slashed its forecast to €89.4 billion, a nominal increase of 5.8 percent from the 2022 level. The previous forecast was ...
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ArticleAuthentic Brands Group buys the rights to the Hunter brand
Authentic Brands Group (ABG) announced on June 2 the acquisition of the intellectual property of Hunter, the British brand famous for its Original Wellington boot. No financial details were released, but Sky News cited a source suggested that the deal could value Hunter as much as £100 million (€116m). ...
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News briefs
Nike appoints new Converse CEO
Nike has announced a new president and CEO for Converse. Jared Carver succeeded Scott Uzzell on June 1. Carver reports to John Donahoe, president and CEO of Nike, Inc. Uzzell has transitioned to a new role as vice president and general manager, North America for Nike. Carver brings to the ...
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ArticleJimmy Choo posts record sales and is set to continue growing
In the full year end April 1, Jimmy Choo posted record revenues of $633 million, up by a reported 3.3 percent year-over-year and by 11.4 percent at constant currency rates, while its operating margin widened to 6.0 percent from 2.1 percent. The footwear brand is expected to increase sales in ...
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ArticleWolverine Worldwide appoints new company president and key brand leaders
Wolverine World Wide, Inc. (WWW), owner of lifestyle and footwear brands including Merrell, Saucony, Sperry, Sweaty Betty, Hush Puppies, Wolverine, Chaco and Stride Rite, this week made several executive appointments. The changes were made “to help drive future growth and accelerate its global brand-building efforts” and build on the strategic ...
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ArticleExpo Riva Schuh adds two new halls and expects a "huge" attendance
The Expo Riva Schuh & Gardabags trade show scheduled from June 17 to 20 will include two additional halls and the organizers, Riva del Garda Fierecongressi, are expecting the attendance to exceed the levels reached during the January edition. Between Jan. 14 and 17, over 8,600 visitors from more than ...
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News briefs
Jihua 3515 inaugurates a footwear research center
Jihua 3515, a footwear manufacturer based in the city of Luohe, in China’s Henan province, inaugurated a footwear research center on May 30. Founded in 1951, Jihua 3515 specializes in safety and work footwear, sports and outdoor shoes as well as formal styles. It has an annual capacity of more ...
