Companies
Burberry names new CFO
The British label has announced that Kate Ferry, currently Chief Financial Officer of the McLaren Group, will join Burberry by early September 2023 to occupy the same role in the company
Genesco reports a slight decline in sales
The Nashville-based footwear group posted a decrease in net sales of 2% over fiscal 2023, reaching 2.38 billion US dollars, amidst a challenging consumer demand environment
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
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
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
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
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
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
adidas posts weak fourth quarter
The company swung to loss in the last quarter of 2022 and saw its annual profit fall by 83%, reflecting the impact of a poor performance in China and the end of the Yeezy partnership
Leather has a role to play in the fight against deforestation
The World Wildlife Fund (WWF) has called out for traceability along the leather value chain, while signalizing the key role leather can play in the fight against deforestation
Brazilian Arezzo acquires first international brand
The Brazilian footwear and accessories group has acquired a 65% share in the Milan-based shoe brand Paris Texas, suggesting it plans to continue expanding its global footprint-
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