Golden Goose’s Debt Ratings Upgraded on Improving Sales
Moody’s Ratings upgraded Golden Goose S.p.A.’s debt ratings due to its strong revenue and profit performance in recent years with the aid of store openings. Sales have vaulted 60 percent from December 2021 to June 2024.
Puma NYC Flagship + A$AP Rocky Debut Latest Motorsport-Inspired Collection
Last night, November 7, Puma held a store event for customers with A$AP Rocky to debut the brand’s latest motorsport-inspired collab collection of footwear, apparel and accessories.
EXEC: Alpargatas Saw Havaianas Taking Market Share, Posting Growth in Q3
The management team at Alpargatas, the Brazil-based parent of the Havaianas and Rothy’s brands, offered their take on the 2024 third quarter with a particular focus on the company’s strategic review and transformation process that has already started to bear fruit for the Havaianas flip-flop brand.
Schoeller to Close Swiss Manufacturing Plant, 170 Employees To Lose Jobs
The company cited Switzerland’s high labor and energy costs, the strong Swiss franc, and poor market environment since the pandemic to cover production costs. However, the company will continue production of its high-tech textiles in Asia with no disruption.
NRF: Holiday Spending on Track for Steady Growth Amid ‘Mixed Signals’ on Economic Data
NRF Chief Economist, Jack Kleinhenz, reported in the November Issue of the NRF’s Monthly Economic Review, that it continues to expect steady sales growth for the winter holiday season despite contradictions in the latest economic indicators.
The Buckle’s October Comps Show Slight Gain
Buckle, Inc. reported that comparable store net sales for the 4-week period ended November 2 and increased by 0.6 percent year over year. Net sales increased 0.1 percent to $87.9 million from $87.8 million a year ago.
Caleres Adds Two Board Members
The parent of Famous Footwear has added Kyle Gendreau, CEO of Samsonite International S.A. and Molly Langenstein, former CEO of Chico’s FAS, to its board, bringing the total to twelve members.
EXEC: Under Armour Shares Pop on Strong Q2 Earnings Beat
Shares of Under Armour surged 27 percent on Thursday after the company reported operating earnings topped guidance by $50 million due to efforts to reduce promotions at its DTC channels, particularly online. Under Armour President and CEO Kevin Plank expressed confidence that initiatives to elevate product and storytelling will drive a return to growth.
Steve Madden Posts DD Revenue Increase on Boost from Almost Famous in Q3
Steven Madden, Ltd. reported third quarter revenue increased 13.0 percent to $624.7 million, compared to $552.7 million in the Q3 period of 2023. Revenue for the Wholesale business was $495.7 million, a 14.4 percent increase compared to the third quarter of 2023. Excluding the newly acquired Almost Famous, Wholesale revenue increased 4.8 percent. Gross profit […]
EXEC: SportChek’s Q3 Retail Sales Grow and Helly Hansen Declines for Parent Canadian Tire
SportChek retail sales increased 2.0 percent year-over-year and comparable sales were up 2.9 percent for the quarter, marking two consecutive quarters in which SportChek outperformed industry trends.
Merrell and Saucony Post Above-Plan Q3 Sales; Parent Lifts FY Guidance
Wolverine World Wide, Inc. raised its revenue and earnings guidance for the year after sales in the third quarter, which exceeded company expectations, driven by above-plan performances from Merrell and Saucony. Gross margins expanded 450 basis points on significantly lower inventory levels.
EXEC: Puma Eyes Boost from Low-Profile Footwear Trend
Puma’s growth accelerated in the third quarter to a 5 percent currency-adjusted (ca) gain from 2.1 percent in the second quarter, led by a recovery in footwear demand. Arne Freundt, CEO of Puma, said on a media call, “I’m very confident to say that we are leading the low-profile trend.”
Allbirds Resets Distribution Agreements for Europe and Latin America
Allbirds, Inc. signed distribution agreements with Chris Sports in Europe and Wystam in Latin America. The company has now signed distribution agreements with 11 companies globally.
Allbirds’ Sales Decline 25 Percent In Third Quarter
Allbirds, Inc. logged a loss of $67.6 million in the third quarter as sales fell 25 percent, in line with guidance. The footwear maker slightly improved its earnings guidance for the year while lowering its sales targets.
Revolve Group’s Q3 Profits Surge On 10 Percent Sales Growth
The online fashion retailer reported adjusted earnings jumped 85 percent in the third quarter ended September 30 on a 10 percent revenue gain.
