News
Ferragamo first half profits plunge
The Italian luxury group has reported another weak quarterly performance. Both Ferragamo’s operating profit and net profit in the first half of the year fell by 41% and 71%, respectively
Japan Retail: slow but steady future for retail
After unexpectedly slipping into recession at the end of 2023, the Japanese economy appears to be back on track to grow 3.2% in 2024 (FMI forecast). Against this backdrop, fashion retail sales are outperforming the overall retail performance and, interestingly, footwear inflation is now below the 2% target for any economy. However, the picture is not so clear-cut. The weak yen could dampen any growth in imports and the country is still adjusting to a major change in monetary policy. Nevertheless, as predicted in our last Flash, it’s safe to say that a modest recovery has taken place in the sector
adidas confirms strong momentum
The German-based sportswear company has reported a robust performance in the second quarter, led by the footwear segment. As a result, it has again raised its full year outlook
State of West Bengal to invest in Calcutta Leather Complex
The Indian state government has announced a 100-billion-rupee (1.2 billion USD) investment in the Calcutta Leather Complex, creating an additional 250,000 jobs, the local media reported
Bright second quarter for Steve Madden
The New York-based footwear, accessories and apparel designer has reported another strong performance amid a “choppy” operating environment, with second quarter revenue up by 18% year-over-year
Tapestry appoints Eva Erdmann as CEO & Brand President of Kate Spade
The New York-based company has appointed Eva Erdmann as CEO & Brand President of its Kate Spade brand, effective October. She will succeed Liz Fraser, who is leaving Tapestry in September
Crocs raises full year earnings outlook
The US-based casual footwear company has reported a solid second quarter, driven by a strong performance of the Crocs brand internationally, and raised its full year earnings outlook as a result
Columbia Sportswear posts soft second quarter
While focusing on strategies to reignite long-term profitable growth, the US-based company posted another quarterly decline in sales amid continued challenging conditions in its home market
Deflationary trend helps revitalise UK fashion retail
The UK fashion retail sector benefited from a deflationary trend in July, according to the British Retail Consortium (BRC), giving consumers a temporary respite from recent difficult months
Prada reports strong first half
In a challenging macroeconomic environment, the Italy-based luxury group has reported a 17% first half revenue growth as compared to the same period of last year. Miu Miu continues to shine
New Chief Marketing Officer at Journeys
The US-based footwear company Genesco has appointed Stacy Doren as Executive Vice President and Chief Marketing Officer of the Journeys group. She joins the company from Levi’s
Expo Detalles Perú is just around the corner
Expo Detalles Perú, one of the main footwear trade fairs in Peru, will be held between the 7th and 9th of August 2024 in Lima and is expected to attract both national and international visitors
Deckers off to a strong start
The US-based company has reported a strong start to the current year, with first quarter net sales up by 22.1% year-over-year. Demand for Hoka and Ugg brands continues to drive growth
US retailers try to get ahead of shipping disruptions
Despite the risk of being stuck with excess inventory, US retailers are accelerating overseas orders to get ahead of worsening shipping disruptions amid rising freight rates and growing geopolitical concerns
Ted Baker to close all its UK stores
Ted Baker is planning to close all its UK stores within weeks, according to multiple reports. Hundreds of staff at the fashion retailer have reportedly been told they will lose their jobs
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