Retail
Steve Madden: consumers are pulling back spend
The New York-based designer and marketer of footwear, accessories and apparel for women, men and children reported a revenue growth in the second quarter of 2022, confirming its full year outlook. Despite that, there are concerns about consumption trends
Rack Room Shoes strengthens merchandising team
The US-based retail chain has strengthened its merchant team, promoting Melanie Ortlieb to Senior Director of Planning and Allocation and three senior buyers from the merchandising team
Tapestry announces retirement of COO Tom Glaser
The New York based fashion house, owner of brands Coach, Kate Spade and Stuart Weitzman, has also announced Scott Roe is to be appointed to the dual role of CFO & COO of Tapestry
Amazon announces second quarter results
The Seattle-based online retail giant reported its second consecutive quarterly loss, but revenue was above analysts' expectations
Elias Gröndal: the European footwear industry will be very strong
Today we spoke with Elias Gröndal, founder and CEO of the online footwear sourcing platform FindSourcing, now Resourced. We discussed some of the main topics impacting the footwear industry at the moment. Watch the video with our conversation
Nordstrom names two new Executive leaders
The Seattle-based department store announced the promotion of Deniz Anders to Senior Vice President and Chief Marketing Officer. Nina Barjesteh, a Senior Executive at DICK's Sporting Goods, will join the company as President, Nordstrom Product Group
Athletic footwear sales declined in the first quarter
According to the NPD Group retail tracking service, athletic footwear sales in the US decreased by 8.2% from January through March 2022, on a comparable basis to the same period in 2021
Japan Retail: imported inflation troubles retail despite positive signs on consumer mood
Despite positive signs regarding the consumers’ mood, which is leading the BoJ to focus on boosting domestic demand, retailers are facing imported inflation unseen for decades. So, as the yen sinks, it is more accurate to wonder whether Japanese companies’ margins can resist for much longer to fully pass on rising costs to consumers. In addition, the sanctions imposed following Russia’s invasion of Ukraine will certainly take a toll on retail, alongside persistent supply chain disruptions caused by the pandemic, even as the country moves away from those times. Since expenses on energy and food cannot be readily cut, the slack demand for footwear already observed is far from being a surprise
US Retail: consumer confidence collapses while footwear retail slowly loses its drive
Despite the declining trend of the monthly shoe store retail sales and persistent macroeconomic headwinds such as supply chain disruptions and the continuous rise of inflation, US companies are displaying some optimism towards the remaining year. That is not the same as saying there is no caution or concerns on the horizon. The pace of the increase in footwear prices is in fact slowing, suggesting that the pressure of demand might be no more at work in the US. The critical point is that consumer confidence collapsed due to inflation and the war in Ukraine, which might restrain consumer spending this year
Spain: price is the main factor consumers look at when doing a purchase
According to the Association for Media Research (AIMC), price was the main factor considered by Spanish when buying clothing and accessories last year, followed by quality and comfort
JD Sports appoints new Chairman
The UK-based retailer announced that Andrew Higginson has been named Chair of the group, effective today, after a thorough search process carried out by the Board
DSW tests new format store ahead of back-to-school season
The footwear chain, owned by Designer Brands, has been testing since May in its Hedwig Village store in Houston a new store format to better engage with the youngest consumers
Ferragamo opens NFT booth in Soho's concept store
The space, conceived as a new retail experience and creative hub, includes a hologram sneaker customization tool and an immersive NFT boot that allows customers to create their digital artwork
Germany Retail: war and inflation raise concerns for retail
Despite the lifting of COVID-19 restrictions in February, the declining trend of the TCF (Textile, Clothing, and Footwear) Retail Sales Index is clear and is aligned with the plunge in consumer confidence. The war in Ukraine and the high inflation are playing a major role in the severe blow inflicted on both consumers’ and retailers’ confidence. Meanwhile, footwear consumer prices have slightly increased in March, and it is foreseeable that companies continue passing on higher costs to consumers in the near future
Shanghai: fashion retailers struggle to clear stock
Almost a month since Shanghai lifted the strict COVID-19 lockdown, stores are struggling with piles of unsold stock, as wary consumers avoid shopping districts-
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