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Wolverine Worldwide announces transformation initiatives after weak quarter
The US-based footwear company delivered a weak third quarter performance and announced a series of strategic initiatives that should put the company on a path to profitable growth
Tapestry’s sales growth slows down
The US-based company posted record net sales of 1.51 billion US dollars in the first quarter of fiscal 2024, but a figure only slightly higher than the one recorded a year ago
Birkenstock names new managing director for Greater China
The German-based company has appointed Tiffany Wu to the newly created position of Managing Director of Greater China. Her aim will be to strengthen the company’s presence in the region
Japan Retail: footwear trade is not expected to improve until the end of the year
Despite some positive news on the growth of department store sales and the return of foreign tourists, rising consumer prices set alarm bells ringing in September, suggesting that Japanese consumers in general are cutting back on spending and may be at their breaking point. In addition, the reduction in the volume of footwear imports and the impact of the country’s monetary policy on the cost of imported goods is another sign that footwear retail is unlikely to improve by the end of the year. The Government has been taking measures, but the outcome shouldn’t be seen until 2024
Portuguese Lavoro introduces ecological sole made from air
The Portuguese professional footwear brand presented a new ecological sole resulting from the combination of gas and TPU with a better mechanical performance
Participants at the 7th World Footwear Congress call for greater international cooperation
The 7th edition of the World Footwear Congress ended last week on a positive note, with the industry recognising the need for greater international cooperation to reshape its future
Under Armour reports better-than-expected results
The US-based company posted a better-than-expected second quarter performance, but due to the challenges faced in the North American region, it decided to lower its revenue guidance for fiscal 2024
US Retail: footwear prospects until the end of the year are at a standstill
Despite signs of a certain resilience from consumers over the summer, companies are taking a cautious approach for the rest of 2023. The long deceleration in footwear inflation came to a halt in August, so if the trend recedes, wage increases will have to follow suit, or the positive outlook for footwear retail could be jeopardised. It’s not surprising how carefully retailers are managing their inventory at the moment: neither too much nor too little
Timberland’s President Susie Mulder exits the company
Timberland’s global brand president Susie Mulder is existing VF Corp to pursue another opportunity, says Footwear News. She will be replaced on an interim basis by veteran Nina Flood
Rocky Brands reports another net sales decline
The US-based footwear manufacturer reported a net sales decrease of 14.8% in the third quarter of 2023, as compared to the same period of 2022, while emphasising an improvement on the prior quarter
Owner of Melissa and Ipanema delivers weak third quarter performance
The Brazilian Grendene posted a revenue decline in the third quarter of 2023, as unfavourable domestic macroeconomic conditions and the global economic slowdown continue to impact consumer demand
Global leather industry issues manifesto ahead of COP28
Leather associations from around the world have signed a manifesto to call on COP28 delegates to recognise the positive role of natural materials such as leather in people’s lives and livelihoods
Prada announces nine months results
The Italian-based luxury group posted a 17% increase in revenue in the first nine months of 2023, as compared to the same period of last year, underpinned by solid retail sales growth in all regions
Columbia Sportswear’s net sales increase but profits decline
The US-based company reported a net sales growth of 3% but a net income decline of 7% year-over-year in the third quarter of 2023, highlighting some improvements in the US marketplace
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