Chinese e-commerce group JD.com on Thursday reported forecast beating second-quarter profits, helped by price cuts that attracted cost-sensitive consumers to its platform. JD.com’s US-listed shares rose as much as 3.5 percent in premarket trading. Major Chinese vendors like JD.com and Alibaba have increased focus on discounts and lower-priced goods as Chinese shoppers have become more...Read More
All products and services featured are independently chosen by editors. However, Footwear News may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes. After more than 50 years in business, John Fluevog is launching sneakers. On Monday, the designer, launched the DDFT Velocity...Read More
Tapestry Inc. — in the midst of a fight with the Federal Trade Commission to keep its $8.5 billion deal to buy Capri Holdings — topped Wall Street’s estimates in a fiscal fourth quarter that illustrated how the parent of Coach, Kate Spade and Stuart Weitzman could benefit from the deal. Net income for the quarter...Read More
Swiss sneaker giant On reported net sales of CHF 567.7 million ($654.4 million) in the three months ending June 2024, up 28 percent from the same period last year and setting a new record for revenue for the second straight quarter. However, shares were down as much as 10 percent in pre-market trading Tuesday, after...Read More
On Holding had another stellar quarter as the Swiss brand continued to defend its prime spot in the ultra-competitive running market. In the second quarter, the running shoe company reported record net sales of 567.7 million Swiss francs, up 27.8 percent from the same period a year ago. (Sales increased 29.4 percent on a constant...Read More
Here, the latest executive moves in beauty — from wearable wellness company Ōura’s new chief design officer, to the newly-created roles at fragrance brands Ledda and House of Bō, and more. James Park courtesy James Park, most recently president at Herbivore Botanicals, has joined The 7 Virtues as chief executive officer. The 2010-founded fragrance brand...Read More
Wolverine Worldwide’s turnaround efforts continued in the second quarter as president and chief executive officer Chris Hufnagel reported better-than-expected revenue in the period despite seeing overall sales declines. On Wednesday, the Rockford, Mich.-based company reported that revenues decreased 27.8 percent in the second quarter to $425.2 million, down from $589.1 million the same time last...Read More
VF Corp reported a smaller-than-expected drop in first-quarter revenue on Tuesday, helped by improvement in its China business as well as leaner inventory levels, sending its shares up about 7 percent in extended trading. Along with several global apparel retailers such as H&M and Zara, VF Corp has been facing some disruptions due to political...Read More
BERLIN – Sales at Puma were down 0.2 percent on a currency-adjusted basis to 2.12 billion euros in the second quarter as consumers tightened their belts, prompting the German sportswear maker to lower its forecast for full-year operating profit. Despite a slow start to the year, Puma racked up 4.22 billion in sales in the...Read More
PARIS – L’Oréal is digging deeper into the dermatological products market, taking a 10 percent stake in Galderma, the pure-play dermatology leader and among the largest in injectable aesthetics, which it originally co-founded. L’Oréal said Monday it had acquired the share in Galderma Group AG from Sunshine SwissCo AG, a consortium led by EQT, Abu Dhabi...Read More
