All Shoe Intelligence articles in Volume 25, Issue 9+10
View all stories from this issue.
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ArticleJD Sports in talks to buy Courir
JD Sports Fashion announced that on May 8 it entered into exclusive negotiations with the owners of Groupe Courir to buy the French chain of sportswear for €325 million euros in cash. The acquisition is seen as a good fit for the British brokerage Peel Hunt and will enable JD ...
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News briefs
Next’s Total Platform has a bright future
Next’s Total Platform is expected to boost the long-term financial estimates and valuation for the British fashion retailer, according to the broker RBC Capital Markets. The platform offers brands Next’s infrastructure and online services, including next day delivery, quick refunds and AI-driven search and recommendations, the broker pointed out. Currently ...
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 25 - 9+10
NB Renaissance takes over U-Power | JD Sports in talks to buy Courir | Unbound withdraws support for WoolOvers offer as new bidder emerges | Czech footwear firm Vasky acquires Botas | After Reno, HR Group files for bankruptcy | Pölking files for bankruptcy | Görtz’s new owners disclosed | Dr. Martens lowers profits guidance again as distribution center blunder costs rise | Pittards’ overdraft facility increased by £340,000 | Marc O’Polo strengthens franchise business in the DACH region | Hooijer Footwear Group expands brand portfolio | Birkenstock’s factory in Pasewalk nears completion; new CFO appointed | Footway sees sales drop in Q1, but grows internationally | Golden Goose boosts FY sales above €500m | Ferragamo posts weak Q1 sales as its relaunch remains uncertain | Russian marketplaces join forces to clamp down on counterfeit goods | Skechers lifts full-year guidance after strong Q1, but braces for continued domestic wholesale headwinds | Crocs raises FY revenue outlook, banking on markets outside U.S. to pace growth | Weyco off to a ‘strong start’ in 2023 after sales increase 6% in Q1 | Rocky Brands suffers a sharp fall in Q1 sales due to excessive stocks at clients | Allbirds faces class action for alleged false and misleading information | Stella’s Q1 sales drop as clients clear out inventories | Yue Yuen to invest $276m in Indian plant | Phoenix International’s credit rating outlook is raised | Brazilian exports decline in volume in Q1 | Alpargatas looks to boost efficiency, seeks new CEO as sales and margins decrease in Q1 | Vulcabras posts strong Q1 results | Zalando near operating breakeven in Q1 | The stocks of former IPO stars Allbirds and Dr. Martens continue their freefall in Q1
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News briefs
Farfetch launches Reebok's European e-commerce
Farfetch, a leading platform provider for the luxury fashion industry, has announced that the partnership with Reebok to run its European e-commerce sites, announced following the sports retailer’s acquisition by Authentic Brands Group from Adidas in 2022, has now been implemented. The partnership announced at the time involves restructuring the ...
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News briefsScarpe&Scarpe aims for €230m in revenues this year
Scarpe&Scarpe’s sales rose by 15 percent to €207 million in 2022 from €180 million a year earlier. The Italian footwear retailer said that sales started to pick up in the fourth quarter, when they reached €75.3 million. Scarpe&Scarpe expects to increase its sales to €230 million in 2023 as well ...
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ArticleAlpargatas looks to boost efficiency, seeks new CEO as sales and margins decrease in Q1
Alpargatas reported a decline in sales volumes, revenues and margins in the first quarter of 2023, as it focuses on boosting operational efficiencies amid a “challenging” demand scenario and persistent inflation. The Brazilian owner of the flip-flop sandal brand Havaianas is also looking for a new CEO following the resignation ...
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ArticleNext sees spring sales hit by weak consumption and colder weather
Next maintained its full-year earnings guidance after recording a smaller-than-expected drop in first-quarter sales, but warned it expects a bigger decline in revenues this spring, due to the cost of living crisis and colder weather than last year. Total full-price sales were down by 0.7 percent in the 13 weeks ...
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ArticleAfter Reno, HR Group files for bankruptcy
After the German shoe retailer Reno filed for bankruptcy, its former parent company HR Group, one of the largest shoe retailers in the country, has gone down the same path. The group has applied for insolvency proceedings for nine companies - including Hamm Reno Group GmbH and Mayer Systempartner ...
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ArticleWeyco off to a ‘strong start’ in 2023 after sales increase 6% in Q1
Weyco Group generated sales of $86.3 million in the first quarter of 2023, a record for the first three months of the year and up by 6 percent from the previous record booked last year, as gains were posted in both its wholesale and retail segments in North America as ...
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ArticleRocky Brands suffers a sharp fall in Q1 sales due to excessive stocks at clients
In the first quarter of 2023, Rocky Brands suffered a 33.9 percent decline in sales to $110.4 million, driven by a 40.2 percent drop in wholesale sales to $80.1 million due to excess inventories at clients. Meanwhile, the company’s own retail sales increased by 3.1 percent to $29.5 million. Contract ...
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ArticleNB Renaissance takes over U-Power
NB Renaissance signed a binding agreement to buy U-Power, an Italian producer of safety footwear. No financial details were released. The investment firm will acquire all the company but Franco Uzzeni, who founded U-Power in 2006, will reinvest part of his proceeds in the footwear company and obtain a 30 ...
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News briefsWhite Mountain and Cliffs in licensing deal with Iconic Footwear
White Mountain and its sister brand Cliffs by White Mountain have signed a licensing agreement with Iconic Footwear for the distribution of slippers, hanging flip flops, aqua socks and water shoes for women, men and kids. This new collections will mark White Mountain and Cliffs’ first foray into new product ...
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News briefs
Ted Baker in licensing agreement with Aldo
The American brand management company Authentic Brands Group (ABG) signed a long-term licensing agreement regarding the Ted Baker brand with the Aldo Group, a Canadian fashion retailer and wholesaler. Under the ageement Aldo will take on design, production and distribution of Ted Baker footwear and handbags at wholesale throughout ...
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News briefs
FitFlop in India opens 2 more stores
FitFlop in India, the division of the Indian footwear retailer Metro Brands Limited which distributes the British footwear brand FitFlop in the Asian country, said that it has opened two more stores in the cities of Ahmedabad and Coimbatore. The stores are located in the Palladium Mall, Ahmedabad, and ...
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ArticleZalando near operating breakeven in Q1
Zalando was close to breakeven at operating level in the first quarter, but investors were spooked by news that demand remained “muted” and that orders came in below expectations, prompting a decline in the share price of the German online fashion retailer. Gross merchandise volume (GMV) rose by 2.8 percent ...
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News briefs
The German shoe maker EOD files for bankruptcy
The German footwear manufacturer EOD, known for the Groundies shoe brand, has filed for bankruptcy. The company applied for insolvency proceedings with the Freiburg District Court as it seeks to continue restructuring to get back on a stronger footing. EOD was already undergoing restructuring after liquidity came under pressure ...
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News briefsBoohoo reportedly asks suppliers for discounts in bid to cut costs
The British fast fashion retailer Boohoo has reportedly asked suppliers for discount on orders as it looks to manage costs. The Times newspaper reported that all suppliers received a call on Thursday requesting a 10 percent discount on all delivered and undelivered clothing orders. “This is major self-harm. They are ...
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News briefs
BasicNet’s Q1 direct sales lifted by K-Way France acquisition
BasicNet’s Ebit was flat at €10.8 million in the first quarter while Ebitda improved by 5.5 percent to €14.8 million for the period that ended March 31. Consolidated revenues grew by 27.7 percent to €108.0 million, including 36 percent direct sales growth to €91.4 million, aided by the group’s April ...
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ArticleMarc O’Polo strengthens franchise business in the DACH region
The Swedish-German fashion label Marc O’Polo is taking steps to strengthen its franchise business in Germany, Austria and Switzerland, collectively known as DACH, with relocations and new openings. In addition to its online and offline retail activities, the franchise business “is an important component of Marc O’Polo’s omnichannel strategy ...
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ArticleVulcabras posts strong Q1 results
Despite unstable macroeconomic conditions and a challenging retail environment, the Brazilian Vulcabras group reported record revenues and strong gross margin and Ebit growth in Q1, which ended March 31. Ebit rose by 45 percent to 93.2 million Brazilian reais (€16.7m) as the year-over-year gross margin grew by 430 basis points ...
