Shares of Wolverine Worldwide nudged up under 1 percent Wednesday morning on the news that the footwear company finished 2023 with revenue and earnings that were in line with its guidance, as well as inventory and debt levels that were better than expected, after months of aggressive divestitures and cost cutting measures. Even still, the Rockford, Mich.-based company reported that revenues in […]
PARIS — LVMH Moët Hennessy Louis Vuitton said organic sales for its key fashion and leather goods division rose 9 percent in the fourth quarter, in line with market expectations, confirming a normalization of growth rates even as the world’s biggest luxury group reported record full-year revenues for 2023. In results reported after the market close on Thursday, LVMH […]
With less than a week until Christmas, shoppers will need to head into physical stores to grab those last-minute gifts — or shell out more money for expedited shipping from online retailers. And that’s what independent footwear stores are banking on to help boost revenue as the year comes to a close. “So far, [our holiday] sales have […]
With less than a week until Christmas, shoppers will need to head into physical stores to grab those last-minute gifts — or shell out more money for expedited shipping from online retailers. And that’s what independent footwear stores are banking on to help boost revenue as the year comes to a close. “So far, [our holiday] sales have […]
Wolverine Worldwide on Monday announced new deals meant to cut costs and continue the ongoing transformation of its business. Among these moves include a new licensing model for the company’s Merrell and Saucony brands in China as well as a deal to sell its Asia-based leathers business. “We’ve taken fast, bold, and decisive actions to stabilize the company today, while working to […]
Steve Madden shares dipped a little more than 1 percent in pre-market trading after the company reported earnings for the third quarter and downgraded its full-year outlook. In the third quarter, the company reported revenues of $552.7 million, down 0.7 percent compared to the same quarter in 2022. Adjusted net income was $65.1 million, or $0.88 per diluted […]
Ralph Lauren Corp. continued to play its game well in the fiscal second quarter — despite weakness in the North American wholesale business and a tougher economy. The company has been on a campaign to elevate its brand and kept at it this quarter, boosting average unit retail prices at its own stores and on its website by […]
Hey Dude just had another rough quarter, but Crocs Inc. is optimistic it can strengthen its recently acquired brand through a tried and true playbook. In the period, Hey Dude revenues were down 8.3 percent to $246.9 million, with wholesale revenues down 19.4 percent due to wholesale partners being more cautious on at-once orders. In a call with […]
U.S. retail sales for holiday 2023 will grow between 3 percent and 4 percent over 2022 to between $957.3 billion and $966.6 billion, the National Retail Federation forecasts. The forecast, which is for the Nov. 1 to Dec. 1 period, marks a return to pre-pandemic holiday spending levels from more heady spending in more recent years. The […]
Holiday retail sales in the U.S. will rise 3.7 percent in a 2023 season marked by “normalizing” omnichannel trends, according to Mastercard. Executives from the giant payment processing company pointed out that the 3.7 percent rate pertains to the Nov. 1 to Dec. 24 period, and is in nominal numbers, which excludes inflation. That means that […]