News
Hundreds of jobs to be axed at Burberry
The UK-based luxury label plans to cut hundreds of jobs as part of a radical cost-cutting programme intended to bolster falling profits, the Telegraph reports
Saks Fifth Avenue owner to acquire Neiman Marcus
HBC, the parent company of Saks Fifth Avenue, has signed a definitive agreement to acquire the Neiman Marcus Group, owner of Neiman Marcus and Bergdorf Goodman, in a deal valued at 2.65 billion USD
Shoe Zone cuts full year guidance
The British footwear retailer has lowered its full year guidance due to continued cost pressures related to container prices and weaker-than-expected sales of its spring-summer collection
Alliance France Cuir appoints new president
Christophe Dehard has been elected as President of the French leather industry confederation Alliance France Cuir for the next three years. He succeeds Frank Boehly
Argentina: clothing and footwear consumption falls by 27%
The clothing and footwear sectors recorded a 27% year-on-year decline in the first five months of the year, according to the Argentine Chamber of Commerce and Services
Foot Locker relaunches FLX Rewards programme
As part of its Lace Up Plan, the US-based sportswear retailer has launched an enhanced FLX Rewards programme to transform the shopping experience for customers. A revamped mobile app will also follow
Nike loses trademark case against Puma
The US-based sportswear company has suffered a setback in its bid to trademark the capitalised version of the word “footware” for tech-related products after a European Union court backed a complaint by Puma
Optimistic expectations for footwear retail prices
76% of the respondents of the last edition of the World Footwear Business Conditions Survey expect footwear retail prices to increase over the next six months. The 10th edition of the World Footwear Business Conditions Survey results are now available
New Generation: meet Joana Trigueiros from Maray
With 18 years of experience in finance and marketing, Joana Trigueiros took over the shoe brand in 2019 when she realised its journey was coming to an end. Let’s find out more
UK Retail: are the winds starting to blow in retailers’ favour?
Despite a slight upturn in sales of Textile, Clothing and Footwear in March, a number of factors, including an early Easter, poor weather and the high cost of living, soon led to a visible lack of demand. This will most likely lead to a decline in the number of footwear imports, breaking the growth trend seen in the first quarter of the year. On the bright side, inflation is at its lowest since November 2021 and the economy seems to be picking up, so there is room for some improvement in consumer sentiment. With the UK on the brink of a General Election and a series of sporting events promising to bring people onto the streets, are the winds starting to blow in retailers’ favour?
Nike announces fourth quarter and full year results
The US-based sportswear giant has announced modest results for the fourth quarter and the full year, as it seeks to position itself for profitable growth in the long term
H&M posts solid second quarter
The Sweden-based fashion group has reported a solid performance in the second quarter of 2024. However it has also warned of a drop in sales in June, mainly due to “unstable weather” in some of its key markets
Scotch & Soda Northern Europe will not reopen
Following the declaration of bankruptcy on the 12th of June, the administrators have announced that the northern branch of Scotch & Soda will not be reopening
Yoox Net-a-Porter to exit China
The luxury fashion e-tailer Yoox Net-a-Porter (YNAP) is believed to be in the process of closing its China operations in order to focus investment and resources on its more profitable regions
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