All Shoe Intelligence articles in Volume 25, Issue 17+18 – Page 4
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ArticleTapestry to buy Capri in a deal worth $8.5bn
Tapestry, the U.S. owner of the brands Coach, Kate Spade and Stuart Weitzman, has entered into a definitive agreement to buy Capri Holdings, which owns the brands Versace, Jimmy Choo and Michael Kors. Under the terms of the transaction Capri shareholders will receive $57.00 per share in cash. The total ...
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News briefs
Advent takes over Zimmermann
The U.S. private equity firm Advent International has reached an agreement to buy a majority stake in Australian fashion brand Zimmermann from the Italian private equity Style Capital. No financial details were released but according to Reuters, the transaction valued Zimmermann about 14 times its core profit, or more than ...
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ArticleHow reshoring requests proved short-lived for Portuguese producers
Demand to reshore footwear manufacturing from Asia to Portugal has petered out after growing substantially in 2022, several Portuguese producers told Shoe Intelligence. Last year, as high inflation, energy prices and China’s zero-covid policies upended the global footwear supply chain, Portuguese manufacturers were approached by clients who wanted to reshore ...
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News briefs
Vulcabras Q2 results bolstered by locally made athletic footwear
The Brazilian Vulcabras group, which produced double-digit second-quarter gains in revenues, gross margin and net profit, was aided by a 14.2 percent increase in market-produced footwear to 608.2 million Brazilian reais (€112.8m). Overall, Ebit expanded by 40 percent to R$148.1 million (€27.5m) as year-over-year gross margin increased by 540 basis ...
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News briefs
Vibram becomes a bluesign system partner
Vibram, an Italian producer of high-performance rubber soles, has become a partner of the bluesign system. Bluesign is a Swiss material verification solutions firm. The collaboration between the two parties started in November 2022. According to Vibram it is the “first shoe sole manufacturer and the first footwear brand ...
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ArticleAlpargatas still plagued by inefficiencies, high inventory levels
Alpargatas, the Brazilian parent of flip-flop brand Havaianas and the Rothy’s footwear brand, continues to be challenged by high inventory levels in the South American market and inefficiencies in its overall operation that are impacting sales, margins and profitability. The group reported a 53.1 million Brazilian reais (€9.9m) consolidated net ...
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ArticleSteve Madden’s expects an improvement in H2 after Q2 sales fall 17%
Steve Madden’s revenues decreased by 16.8 percent to $445.3 million in the second quarter of 2023 from $535.0 million a year earlier. However, the company expects an improvement in the second half of the year even if it remains cautious especially regarding re-orders from wholesale clients. Revenues for the wholesale ...
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ArticleNext lifts guidance again on strong rise in Q2 full-price sales
Next has raised its annual profit forecasts again after strong second-quarter full-price sales and better-than-expected clearances of summer stock. The British fashion retailer raised guidance by £10 million (€11.6m) to £845 million (€980m), just six weeks after its last upgrade. Next also forecast that annual full-price sales will be 1.8 ...
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ArticleBoot Barn’s Q1 sales rise, beating the company’s forecast
Boot Barn’s net sales rose by 4.9 percent to $383.7 million in the first fiscal quarter ended on July 1, from $365.86 million the previous year. Net income fell from $39.3 million to $34.3 million, with net income per diluted share coming in at $1.11, compared to $1.26 the previous ...
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ArticleWeyco posts higher profit, margin despite lower Q2 sales
Weyco Group suffered a 9.9 percent decline in second-quarter sales to $67.0 million as the group’s portfolio of footwear brands faced difficult year-over-year comparisons and a wholesale market flush with inventory. Nonetheless, the group improved several operating metrics in the period ended June 30. Operating income rose by 18 percent ...
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