The Textile, Clothing, and Footwear (TCF) retail sales index has improved in the fourth quarter of last year and several companies in the category appear to be less fearful about 2023, especially after their positive annual results. Moreover, retailers’ and consumers’ confidence indicators are showing that despite some lingering pessimism due to the challenging macroeconomic environment, things won’t get necessarily worse in the short term.
Despite achieving a record full year revenue, the luxury online retailer reported a fourth quarter 5% revenue decline and a 12% GMV decrease, as compared to the same quarter of fiscal 2021
The Manchester-based sportwear brand is working with the multinational investment bank Rothschild to raise around 200 million US dollars to fund its expansion
The British label has appointed the artist and film-maker Set Free Richardson to the role of Clarks Originals creative specialist, building on the duo’s previous collaboration
The US-based footwear group reported preliminary and unaudited fiscal 2022 sales and earnings ahead of previous expectations, following a stronger-than-anticipated holiday performance
The German-based online retailer announced that it will cut hundreds of jobs due to the increasingly challenging macroeconomic environment experienced after the COVID-19 pandemic
The Brazilian Alpargatas reported fourth quarter and full year results below expectations, with inflation eroding consumers’ purchasing power notably in Brazil
On the 24th of February, the European Commissioner for the Environment, Oceans and Fisheries will chair the ceremony that will publicly launch the Green Pact for the Portuguese footwear and leather goods cluster
Despite a better-than-expected fourth quarter last year, the Seattle-based company posted a full year net loss of 2.7 billion USD, as compared to a net income of 33.4 billion USD in 2021
Figures by the Banque de France suggest that retailers may have felt some relief in December 2022, but the weight of inflation in these results must not be overlooked, with turnover growing quite faster than the production itself. Moreover, the impact of inflation on footwear might yet be to be felt. French consumers tend to purchase the category during sales, but retailers may not be able to make the big discounts that would make consumers shop in a context of still significant inflation due to the need of preserving margins. However, there are signs of light at the end of the tunnel, as retailers’ and consumers’ confidence indicators show that there is room, at least, for the ceasing of confidence deterioration in 2023.
The luxury group posted a sales growth of nearly 30% in 2022 over the prior year, reaching 11.60 million euros. Despite the global uncertainty, the group is approaching 2023 with confidence
The US-based company reported having reached a “record” revenue of 3.6 billion US dollars, up by 53.7% over 2021, driven by strong consumer demand. As a result, it anticipates a strong 2023
The weak performance of Gucci in the last quarter of 2022 (sales down by 15% year-over-year) due to the situation in China impacted Kering’s performance in the quarter. But the group’s full year revenue still grew by 9%
The owner of high-profile brands such as Vans, The North Face and Timberland has appointed Silvia Onofri to the position of Brand President of the outwear brand Napapijri
The Baltimore-based company reported revenue growth of 3% in the third quarter of fiscal 2023, reaching 1.6 billion US dollars, as compared to the same period of the prior fiscal year