News
Caleres announces record annual sales
The US-based footwear group reached record annual net sales of 2.97 billion US dollars in 2022, up by 6.9% over the prior year, led by its brand portfolio segment
APLF due to return to Hong Kong
At the last edition of APLF, held from the 13th through the 15th in Dubai, the organization of the event confirmed that the next edition will once again take place in Hong Kong
UK Spring Budget fails to meet retailers expectations
British retail bodies believe the Government could have gone further to support businesses with the Spring Budget. No changes were introduced concerning VAT-free shopping, shopping hours or business rates
Inditex posts strong yearly performance
The Spanish-based fashion group, owner of Zara and Stradivarius, among others, reported a sales growth of 17.5% in 2022, as compared to the prior year, reaching 32.6 billion euros
Skechers and Martha Stewart release their first footwear collection
The US-based company teamed up with Martha Stewart to create the capsule collection A Day in the Life of Martha, covering her favourite looks for daywear, entertaining and weekend wellness
US discretionary retail sales dropped in February
According to Circana (formerly IRI) and the NPD Group, discretionary US general merchandise retail sales fell by 4% last month, year-over-year, and unit sales were down by 5%
German footwear exports up by 19.4% in 2022
German footwear exports in 2022 grew in value by 19.4% over the prior year, totalling 9.6 billion euros, says the Federal Association of the German Footwear and Leather Goods Industry (HDS/L)
Prada reports annual revenue growth of 21%
The Italian-based luxury group reported a net sales growth of 21% in 2022 over the prior year. Both the Prada and Miu Miu brands performed “strongly”
VF Corp closes second green bond
The US-based company announced that it has closed a second green bond offering of 500 million euros to support further key sustainability initiatives
US Retail: slower growth for retail in the coming months
The available data suggests that footwear sales dipped in the last quarter of 2022. With inflation eating the wage growth and impacting the stability of the labour market, US consumers appear to have deemed footwear purchases as not essential. This situation is somewhat corroborated by the negative performances of several companies in the fashion category, such as Capri, Nordstrom and VF Corp, in the fourth quarter of the year. Their main concern relates to the excess inventory, which led to a highly promotional environment and caused imports to reduce. Accounting for the mixed feelings on the consumers’ side, it is safe to endorse cautious prospects for retail for these first months of 2023
Grendene posts fourth quarter results below expectations
The Brazilian footwear company suffered a revenue decline and an earnings loss in the last quarter of 2022, mainly due to a decline in the consumers’ disposable income caused by the difficult macro environment
ACCC launches investigation on Australian businesses for greenwashing
Australia's Competition and Consumer Commission (ACCC) will investigate several businesses, especially in the cosmetic, clothing and footwear and food and drink sectors, for potential greenwashing
Vapesol announces new investment
The Portuguese producer of footwear soles announced an investment in a new pavilion to optimize its response capability. The goal is to reach an annual production of 5 million soles
adidas extends CFO's contract
The German-based company has announced that Chief Financial Officer Harm Ohlmeyer will remain in the role until the beginning of 2028. Changes to its executive board were also made
Ferragamo confirms full year 2022 results
The Italian-based luxury group recorded revenue growth of 10.2% in 2022 over the prior year, reaching 1.25 billion euros, with sales growing in all regions except for Asia Pacific
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