Companies
Farfetch's CFO to step down by the end of 2023
The luxury e-tailer has announced that Elliot Jordan will step down from his role as Chief Financial Officer by the end of 2023. Meanwhile, Farfetch will initiate the search for a successor
Foot Locker names interim CFO
In addition to his current duties as Senior Vice President of investor relations and financial planning and analysis, Robert Higginbotham will undertake the role of interim CFO of Foot Locker
Spain Retail: retailers and consumers have shown themselves resilient at the end of 2022
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.
Farfetch: growth slowed down in the fourth quarter of 2022
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
Sportswear brand Castore plans to secure capital injection
The Manchester-based sportwear brand is working with the multinational investment bank Rothschild to raise around 200 million US dollars to fund its expansion
Clarks appoints creative specialist
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
Caleres foresees record annual sales
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
Zalando to cut hundreds of jobs
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
Parent company of Havaianas posts profit loss
The Brazilian Alpargatas reported fourth quarter and full year results below expectations, with inflation eroding consumers’ purchasing power notably in Brazil
EU Commissioner Virginijus Sinkevičius endorses Green Pact for the Portuguese footwear cluster
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
Amazon reports net loss in 2022
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
France Retail: inflation will yet impact retail, but there is a light at the end of the tunnel
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.
Hermès posts robust full year results
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
Crocs reports record annual revenue
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
Kering fourth quarter sales declined by 7%
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%-
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