Consumers seem to have definitely pulled the rug out from under footwear companies, as can be seen by the wave of insolvencies observed in the footwear sector in recent months, in addition to the store closures recorded in 2022. And the online channel is having no better luck, with sales progressively losing the momentum of the positive results recorded in the summer of last year. Overall, the future of retail looks set to remain a little gloomier in the coming months   

The Spanish-based fashion group posted a sales and net income increase of 13% and 54%, respectively, in the first quarter of 2023, as compared to the same period of last year   

The US-based group has posted a 9.8% year-over-year sales decline in the first quarter of 2023, amid a challenging operating environment that forced it to take several cost-cutting measures   

The Portuguese manufacturer of professional footwear ICC – Footwear Industry and Commerce will invest 5 million euros to increase its productivity by 20% and double sales   

This news came after the fast fashion retailer's downgrade from London's FTSE 250 index of mid-sized companies, which reflects its declining performance in the post-pandemic period