All Shoe Intelligence articles in Volume 25, Issue 21+22
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 25 - 21+22
Italy shoe making is attracting investments but faces labor constraints | First Italian companies ready for ESG certification under trade association’s aegis | How Serafini is relaunching itself after exiting creditor protection | Hermès could consider investments in Italian shoe, fashion suppliers | Prada’s footwear sales slow down sharply in Q3 | Ferragamo misses sales expecations in Q3 | Nice Footwear FY sales up 43.1% | Salamander and Klauser find a new owner | Deichmann names a new head of brand & licensing and ends the Onygo brand | ANWR and Sabu maintain their trade fair pattern “for the time being” | Shoe Zone’s FY revenues rise 6.1% | FitFlop picks Bleckmann as its logistics partner | Frasers to acquire SportScheck in Germany | CCC Group posts softer sales in Q3 led by the CCC and eobuwie banners | Russia mulls creating footwear clusters to boost local production | Skechers raises full-year earnings guidance as DTC continues to bolster Q3 sales gains | Skechers wins EU-wide injuction against Dockers by Gerli | Deckers raises full-year guidance again, plans to divest Sanuk | Caleres to leverage lead brands to resume growth in 2024 after September sales disappoint | VF drops guidance, launches turnaround plan | Crocs taking steps to reset Heydude business | Rocky Brands margins, profits rise in Q3 despite 15% sales decline | Boot Barn cuts guidance as sales continue to soften through October | Aldo in licensing agreement with ABG’s Roxy brand | World Shoe opens a shoe factory in Ghana | Brazilian shoemakers are relying on domestic demand to grow | Stella benefits from demand for premium categories | The Chinese brand Zuliz opens its first store abroad | Zalando cuts its full-year guidance for GMV, revenues | Spartoo’s H1 sales decline but earnings improve | Primark expected to grow sales and earnings in 2024
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ArticlePrimark expected to grow sales and earnings in 2024
Primark, the fast-fashion retailer owned by Associated British Foods (ABF), posted sales of £9.0 billion (€10.4bn) in the full year ended Sept. 16, up by 17 percent at actual exchange rates and 15 percent at constant currency rates. Like-for-like sales growth was 8.5 percent for the year. ”Trading was much ...
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News briefs
Frasers hikes its stake in Asos
Frasers Group has increased its stake in the British online fashion retailer Asos to 19.52 percent from 19.00 percent, according to a filing with the London Stock Exchange. Based on the filing, 12.74 percent of the voting rights are held through shares and the remaining 6.78 percent through financial instruments, ...
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France launches scheme to repair shoes and clothing
On Nov. 7, the French gouvernment launched a subsidized program for the mending of clothing and footwear. The so-called “bonus réparation” is “good for the environment but also for purchasing power” said Christophe Béchu, the minister for ecological transition. Consumers will be able to have their clothes and shoes ...
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News briefs
Cofra to build a factory in Egypt
The Italian safety footwear manufacturer Cofra is planning to invest €10 million in a factory in Egypt, Arab Finance reported citing the minister of trade and industry, Ahmed Samir. The factory will occupy a 50,000-square-meter area in the Robbiki Leather City cluster and is expected to create 2,000 jobs. ...
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News briefs
Bangladeshi textile minimum wage increased by over 56%
The minimum wage committee of Bangladesh has approved a 56.25 percent raise in the minimum monthly salary of the country’s four million textile sector workers, bringing it to 12,500 takas (about €104). Raisha Afroz, the secretary of the government-nominated committee, told the news agency AFP that the new minimum salary ...
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News briefs
BasicNet’s sales rise, Ebit declines
BasicNet, the Italian parent of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands, said that in the first nine months of 2023 consolidated revenues rose by 5.3 percent year-on-year to €297.5 million, while aggregate group brands revenues slipped by 7.6 percent to €858.4 million. Meanwhile, Ebitda increased by ...
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News briefs
Amazon posts 13% sales increase and more than triples net income in Q3
Amazon posted net sales of $143.1 billion in the third quarter ended Sept. 30, representing an increase of 13 percent compared with Q3 2022. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, the sales increase was 11 percent. International sales rose by ...
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ArticleBoot Barn cuts guidance as sales continue to soften through October
Boot Barn cut its guidance for the full year after its sales performance progressively worsened during the second quarter ended on Sept. 30 and continued to soften at the start of its third quarter, amid signs of slowing consumer demand. Boot Barn now expects to post full-year sales of $1,677 ...
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News briefs
Inditex in a 3-year deal to buy a significant portion of cycora
Inditex has formed a strategic partnership with Ambercycle, a Los Angeles based material science company, to help scale textile-to-textile recycled polyester. As part of this collaboration, the Spanish company, which owns Zara, among other banners, has signed a three-year agreement to buy a significant portion of the annual production of ...
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News briefs
Ferragamo takes full control of 3 Chinese joint ventures
Salvatore Ferragamo is taking full control of three joint ventures in Greater China by buying out the minority shareholder Imaginex for $42.0 million. Under the transaction, Ferragamo and its subsidiary Ferragamo Hong Kong are acquiring 25 percent stakes in Ferragamo Moda (Shanghai) and Ferrimag and a 24.8 percent stake in ...
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News briefs
Caleres launches One Planet Standard designation
Caleres introduced the One Planet Standard designation for products that meet or exceed 51 percent on its Sustainable Footwear Index. The One Planet Standard considers the sustainability of a product across its entire lifecycle, including six key pillars: sample reduction, materials, packaging, supplier environmental social governance (ESG) initiatives, brand philanthropy ...
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News briefs
Lenzing to axe 500 jobs
Lenzing plans to reduce global personnel costs by up to €30 million, or the equivalent of around 500 full-time jobs, by not filling positions that fall vacant due to retirements and natural attrition, as well as by job cuts. The move is part of a larger plan to achieve €100 ...
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News briefs
Relaxo’s sales rise nearly 9% in H1
Relaxo Footwears, an Indian group that sells shoes under various brands including Relaxo, Flite, Bahamas and Sparx, posted revenues from operations of 1,454 crore rupee (€163.1m) in the first half ended Sept. 30, up by 8.75 percent year-on-year. Total income grew by 9.28 percent to INR 1,472 crore (€165.2m). In ...
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ArticleCrocs taking steps to reset Heydude business
There will be some immediate pain, largely negative wholesale growth in the fourth quarter, as Crocs takes additional steps to shore up the fortunes of its Heydude business. Those efforts are focused on distribution clean-up, greater segmentation by distribution channel coupled with stronger control of digital pricing, and the establishment ...
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ArticleRocky Brands margins, profits rise in Q3 despite 15% sales decline
Rocky Brands posted higher profits and margins in the third quarter of 2023, benefiting from lower freight costs, improved distribution center efficiencies and an increased share of higher-margin retail sales. Profitability gains came despite a decline in the top line, which decreased by 14.8 percent to $125.6 million in the ...
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News briefs
New Zealand sneaker brand has a new plant-based alternative to leather
New Zealand-based sustainable shoe brand YY Nation has released a new collection of court sneakers made using cactus. The release of the Fractus Cactus and the Status Cactus coincided with World Vegan Day on Nov.1. According to YY Nation, the cactus court sneaker range is “Crafted using natural materials ...
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News briefs
Eurmoda buys Macuz
Eurmoda, an Italian supplier of components to the fashion industry, has bought Macuz, a Tuscan producer of high-quality metal components for the fashion industry. No financial details were available. Founded in Florence in 1952 by Marcello and Alma Macuz, the company will join a group that also comprises Margot and ...
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ArticleZalando cuts its full-year guidance for GMV, revenues
After third-quarter revenues were affected by a “macroeconomic environment of low consumer sentiment and declining online sales”, Zalando cut its full-year gross merchandise volume (GMV) and revenues expectations due to continued pressure on demand for the rest of the year. “The quarter was also adversely impacted by the warmest September ...
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News briefs
Vulcabras’ sales rise by double-digits for 13th consecutive quarter
Despite a challenging retail environment and some unfavorable macroeconomic circumstances, the Brazilian Vulcabras group generated record quarterly sales, Ebitda, and gross margin for the period ended Sept. 30. Third-quarter revenues rose by 10.2 percent to 731.4 million Brazilian reais (€136.7m) as Ebit improved by 42 percent to R$149.1 million (€27.9m). ...
