Shoe Zone sees full-year profits halved as sales fall on weak consumer confidence, weather
Shoe Zone has halved earnings forecasts in another profit warning and claimed that recent tax and wage measures in the recent British government’s budget would force it to close an unspecified number of stores.
Birkenstock posts higher-than-expected Q4 results
Birkenstock reported revenues of €456 million in its fourth quarter ended Sept. 30, up by 22 percent on the year earlier on both a reported and constant currency basis. Financial analysts were expecting a top line of €440 million.
Designer Brands continues to ‘de-weatherize‘ business as Q3 boot sales slump 27%
Designer Brands said it would continue to take steps to reduce its reliance on seasonal footwear after sales of boots slumped 27 percent in the third quarter ended Nov. 2, nearly double the 15 percent decline it had forecast.
Hong Fu breaks ground on its Tamil Nadu factory
On Dec. 16, MK Stalin, the Chief Minister of the Indian state of Tamil Nadu, laid the foundation stone for a manufacturing unit of the Taiwanese footwear firm Hong Fu Industrial Group at the SIPCOT Park Industrial Estate at Panapakkam in the Ranipet district.
Zalando to take over About You
As part of its plans to create a pan-European e-commerce platform, German online retailer Zalando is acquiring the fashion group About You for €1.1 billion.
Otto Group changes legal status
The German mail order company Otto, owner of the Freemans, About You, Bonprix and Evri businesses, among others, is preparing to change its legal form and streamline its corporate structure as a generational handover gets underway.
Ecco has a new CEO
Ecco’s CEO, Panos Mytaros, has stepped down and been replaced by the group’s Chief Commercial Officer, Thomas Gøgsig. No explanation was given regarding the change at the helm.
Otto Group changes legal status
The German mail order company Otto, owner of the Freemans, About You, Bonprix and Evri businesses, among others, is preparing to change its legal form and streamline its corporate structure as a generational handover gets underway.
Boohoo appoints a new chairman
Boohoo’s Co-Founder Mahmud Kamani has been shifted from his role as Chairman to become Executive Vice Chair, with a board member, Tim Morris, appointed as independent Chairman amid ongoing calls from Frasers Group, a major shareholder in the British online fast fashion retailer, to have Kamani removed completely.
Russia’s footwear imports are declining
During the first nine months of 2024, Russia imported 261.6 million pairs of shoes, 11.2 percent less than the previous year, according to the Russian Center for Prospective Technologies, a government agency monitoring the retail industry.
Spanish footwear exports up in the first seven months of 2024
Spain’s footwear exports amounted to €2,056.5 million in the first seven months of 2024, up by 6.4 percent compared to the same period in 2023. Meanwhile the number of pairs shipped to foreign markets amounted to 105.8 million, rising by 8.6 percent year-on-year, according to data released by Fice, the ...
German leather goods industry suffers steep sales drop
According to the German footwear and leather goods trade association, HDS/L, the German leather goods industry faces a challenging second half of 2024, with sales falling and both imports and exports declining, reflecting broader economic pressures.
Italian footwear production continues to decline
In the second quarter of 2024, revenues of Italian footwear manufacturers fell by 8.0 percent year-on-year, slightly worse than previously anticipated and confirming the decline seen in the first three months of the year. In the first quarter, revenues contracted by 10.1 percent year-on-year, while production decreased by 20.5 percent. ...
