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Tag: International

  • Blockchain revolution comes to world of humanitarian aid

    Blockchain revolution comes to world of humanitarian aid

    Blockchain, the technology behind the cryptocurrency Bitcoin, is taking root in a sector far from finance: the world of humanitarian aid.

    By offering refugees a virtual identity, reassuring donors that their money is being well spent, or rushing funds where they are needed most, aid charities are experimenting with the technology in the hope that it can improve their work.

    “We are at the very beginning. There is a lot of hype,” said Christopher Fabian, leader of Unicef’s Ventures Fund, which invests in open source technology solutions.

    At the end of 2017, Unicef – the UN agency dedicated to protecting children – brought together Russian-speaking blockchain experts in a meeting in Kazakhstan.

    The goal? To develop a “smart contract” that would facilitate transactions between the organisation and its numerous partners for deliveries and payments, if certain conditions were met.

    “It totally failed, but we learned a lot from that and will do the same challenge this year in Mexico,” Fabian admitted, adding that he could envision a host of future projects using blockchain for the “social good” – even if most of them will fail.

    But the UN gency is thirsty for innovation.

    Its French office has also launched an operation dubbed “Game Chaingers” (for blockchain), which challenges tech geeks and gaming enthusiasts to install on their computers software aimed at creating Ethereum, a virtual currency, to help Syrian children.

    Blockchain allows users to create and spread information across a large network of computers, which its proponents say lends it both transparency and security. And the applications for the technology are multiplying quickly.

    For aid and development groups, blockchain can come in all shapes and sizes.

    Aid donors could, for example, trace their contributions as they spread across an organisation. The platform Disberse, supported by a network of 42 humanitarian groups, already road-tested this application by tracking money sent by a British association to four schools in Swaziland.

    In theory, the technique can reduce transaction costs, fight corruption by making everything transparent, and allow a better record of where food aid is directed, or make sure that medicines are not counterfeited.

    Those in charge of programmes that directly send money to people in need also see it as a way of more easily controlling the disbursement of funds or avoiding use of financial intermediaries such as banks, which might also take a cut.

    “In the old days, we were delivering aid at the back of the truck,” said Alex Sloan, a consultant at the World Food Programme’s Innovation Accelerator, which works with startups and others to help fight hunger.

    “Now, we are moving towards distributing cash to our beneficiaries, in the form of actual cash, through vouchers, e-cards, etc.”

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  • Muse Shopping Centre’s new Incubator Store designed by JHP

    Muse Shopping Centre’s new Incubator Store designed by JHP

    JHP have been appointed by French developer Apsys to create a radical new store concept. ‘The Collection by Muse’, located in the newly opened Muse shopping centre in Metz, France, is the ultimate incubator store. Its flexible design and centralized POS system allow it to host brands on a temporary basis. Brands range from already established brands to young designers and emerging labels from all around the world, and are as diverse as Fashion, Accessories, Beauty, Home, Objects and Technology companies. Current tenant is upcoming French fashion label ‘French Mode’.

    The principle is simple: every three to four months, a new brand takes the reins of the shop to exhibit their collections. Located on the first floor of Muse, the Collection by Muse’s main purpose is to incubate new retailers and brands, test the popularity of new categories, respond to seasonal demand, inspire and encourage customers to return again and again.

    Muse, Lorraine’s new mall, opened its doors to the public on 22 November 2017, opposite the Centre Pompidou-Metz museum complex and a few minutes’ walk from Metz city centre in France. As the cornerstone of the new Amphithéâtre quarter, Muse fosters an urban mix thanks to a combination of retail outlets, homes, offices and leisure facilities of over 80,000 sqm.

    The centre accommodates 112 outlets including fashion boutiques, home décor stores, restaurants and day-to-day shops, including Primark, Carrefour Market, Superdry, New Look, Zadig & Voltaire, Sephora, and the restaurants Burger King, Air Bagels and Beef House.

     

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  • Under Armour Asia saves the brand globally

    Under Armour Asia saves the brand globally

    Under Armour Asia sales soared 61 per cent in the 12 months to December – a highlight in the US-headquartered sportswear retailer’s year in which it lost US$48 million.

    Global revenue was up a mere 3 per cent to $5 billion with the company losing ground in the wholesale sector, but raising its direct sales – which now account for 35 per cent of turnover – by 14 per cent.

    Asia was by far Under Armour’s top-performing market, with sales in Latin America up 28 per cent and in Europe, Middle East and Africa, by 42 per cent. It is in the company’s core North American market where the damage is being done – sales fell 5 per cent

    The loss was caused by restructuring costs and impairments of $124 million. Those excluded, Under Armour achieved an operating surplus of $87 million.

    While noting a small improvement in the company’s fourth quarter, retail analyst Neil Saunders, MD of GlobalData Retail, said the results “show signs of a company in difficulty”.

    Fourth-quarter sales rose 4.6 per cent, a sharp turnaround from the 4.5 per cent decline of the preceding quarter, but that growth came entirely from overseas markets, led by Under Armour Asia, up 66 per cent.

    “While overseas growth is to be applauded, it carries investment costs and also accounts for just 25 per cent of group revenue,” noted Saunders. “As such, Under Armour is reliant on its North American operation to drive performance on both the top and bottom lines. Unfortunately, the North American division had a lamentable quarter and is the main source of Under Armour’s woes.”

    Saunders said the brand has “lost power” in North America.

    “Compared to last year, Under Armour was firmly off the radar for holiday gifting. Far fewer people thought of or requested the brand for gifts, and consequently fewer people bought into it. Under Armour has spent too much time trying to expand its footprint and product coverage, and too little time building connections with customers.”

    He said Under Armour was failing in terms of customer experience.

    “Customer service at some of its own stores leaves a lot to be desired. Meanwhile, expansion into retailers like Kohl’s has weakened exclusivity and made the brand feel commoditised and ubiquitous.”

    GlobalData Retail’s consumer data reveals Under Armour has lost its way, with consumers unsure what the brand stands for, what it specialises in, and why they should use it.

    “For many, it has become something of an also-ran,” said Saunders. “These shallow roots are dangerous: they leave Under Armour vulnerable to competition and the vagaries of changing market conditions.”

    In contrast, rival Lululemon has a very clear sense of identity, and its approach is more disciplined and focused, which has helped it maintain price integrity and remain a destination of choice for many consumers.

    “While we do not believe that Under Armour should simply emulate Lululemon, we do think it can learn some lessons from its playbook.”

    Saunders said Under Armour has already warned of further full-year revenue decline in North America this year and operating profit will also be weak thanks to restructuring and impairment costs.

    “For all of this, Under Armour still has potential; but it needs to use the year ahead to regroup and rethink its strategy. The company that once believed it could challenge Nike has come down to earth with a bump. Humble reflection is now the order of the day.”

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  • Kering to celebrate new sales record

    Kering to celebrate new sales record

    In a “phenomenal” result, global luxury group Kering had record operating revenue last year, driven in large part by the popularity of Gucci.

    Kering’s income totalled €15.4 billion (US$19 billion), up 25 per cent as reported or 27.2 per cent on a comparable basis. Revenue from luxury activities was up 27.5 per cent as reported, or 29.9 per cent on a comparable basis, while for sport and lifestyle activities, revenue was up 12.8 per cent as reported or 14.7 per cent on a comparable basis.

    Describing it as a phenomenal year, chairman/CEO François-Henri Pinault says the group created more than €3 billion in extra revenues in a single year, and generated more than €1 billion in additional EBIT.

    In a performance “nothing short of spectacular”, Gucci was amplifying its desirability across all markets.

    “Saint Laurent is on a rapid growth track, while Bottega Veneta pursues its redeployment. Balenciaga is charting an impressive development trajectory, and our other luxury brands are experiencing positive momentum,” says Pinault.

    Revenue for luxury activities topped €10 billion last year, up 29.9 per cent year on year based on comparable data. Comparable growth was up 44.6 per cent for Gucci and 25.3 per cent for Yves Saint Laurent.

    Other luxury brands saw accelerated revenue growth (up 14.1 per cent on a comparable basis), especially Balenciaga, which delivered the fastest growth rate of all group brands in the second half.
    Puma’s revenue topped €4 billion for the first time, a rise of 15.8 per cent on a comparable basis, while recurring operating income for the brand jumped 92.7 per cent.

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  • GreyOrange to showcase expanded AI-powered Butler range at LogiMat 2018 for autonomous order fulfilment

    GreyOrange to showcase expanded AI-powered Butler range at LogiMat 2018 for autonomous order fulfilment

    Robotics and supply chain automation company, GreyOrange, will launch its new goods-to-person Butler XL at LogiMat 2018, the 16th International Trade Fair for Intralogistics Solutions and Process Management in Stuttgart, Germany on 13-15 March.

    With the new ButlerTM XL, GreyOrange expands the range of goods-to-person solutions that can be used in manufacturing facilities and omnichannel warehouses, to move different kinds of loads from raw materials to finished goods. The Butler XL can handle a payload of 1600 kgs (3500 lbs) including pallets, drums and sacks. Designed to work in tandem with the current Butler system, this makes it easy to add its new capabilities to existing operations.

    The new Butler robotics system will support multi-floor operations with the integration of an elevator. This provides greater flexibility to optimise handling of inventory across a facility.

    GreyOrange is a fast-growing company in supply chain automation, deploying its AI-enabled ButlerTM robotics system in warehouses and fulfilment centers for e-commerce, retail and consumer packaged goods. In the last year. GreyOrange has rapidly expanded its presence with its Butler goods-to-person system deployed in Japan, Hong Kong, India and the Americas, plus a new site currently being installed in Europe.

    Samay Kohli, Group Chief Executive Officer, GreyOrange, said, “The Butler goods-to-person robotics solution has been very well received since its launch. The Logistics industry has made huge strides in terms of adopting new technologies, and worldwide we are seeing increasing interest in our automation solutions driven by Artificial Intelligence. At LogiMat we will demonstrate how our expanded range of Butler products addresses supply chain complexities to deliver end-to-end efficiencies from inbound, inventory management to outbound. We invite everyone to our Stand to get a demo of our new products and see its advantages.”

    GreyMatter is the software platform developed by GreyOrange to revolutionise warehouse operations by connecting people, process and technology more efficiently using Artificial Intelligence. In real-time, it integrates and delivers all of the functionality, intelligence and services required for optimum warehouse operations. At every step of the process, from receiving to storage to picking to fulfillment, orders are consolidated through automation.

  • Tesco trolleys accused of sexism and gender apartheid

    Tesco trolleys accused of sexism and gender apartheid

    Tesco is to introduce new safety warning stickers on its trolleys after a social media storm saw it accused of “gender apartheid”.

    The warnings feature drawings of a woman and a child demonstrating how to allow children to ride in trolleys safely. A Manchester woman took to social media complaining the warnings were sexist because they featured a woman and child, enhancing social stereotypes that it was a woman’s role to do the shopping.

    Matt O’Connor, from an organisation called Fathers4Justice, went even further, saying: “Tesco needs to stop this gender apartheid”.

    Using a hashtag ‘everyday sexism’, the original complainant Tweeted “Tesco, is it only women who do the food shopping and look after the kids?”

    Samantha Rennie, executive director at equality group the Rosa UK Fund for Women and Girls, told the Manchester Evening News: “It… plays a role in reinforcing stereotypical ideas of the woman being responsible for the weekly food shop.”

    However, newspaper readers took a saner perspective on the issue. An online survey of readers showed 90 per cent did not believe the trolley warnings were sexist, (although it did not disclose the number of votes).

    One local Manchester man Tweeted that the complaint showed “The world’s gone mad”.

    “The [Manchester] woman who complained needs to get a life. It may be a man dressed as a woman.”

    Tesco says it has ordered new warning signs featuring gender neutral characters which will be placed on the next 20,000 new trolleys to be put into service across the UK.

    Discount brand mooted

    Meanwhile, Tesco has not commented on reports it is planning a bare-essentials style grocery chain to tackle German rivals Aldi and Lidl head on.

    The Sunday Times newspaper has reported that Tesco will launch a separate brand where goods are price matched to Aldi and Lidl’s offer, to try to win back customers lost to the German brands over the last decade.

    The stores would likely stock around 3000 SKUs and the brand and store format would be designed to stand apart from Tesco so as not to cannibalise its main brand’s sales. A typical Tesco supermarket stocks up to 30,000 items.

    The discounters are continuing to eat into the market share of Britain’s so-called ‘big four’ chains. In the latest quarterly data published by Retail Gazette, Tesco’s sales rose 2.6 per cent while Aldi and Lidl reported 16.2 and 16.3 per cent increase respectively.

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  • Fosun International reportedly acquires Lanvin

    Fosun International reportedly acquires Lanvin

    Fosun International has purchased Paris fashion brand Lanvin for more than 100 million euros, two sources close to the matter have revealed to the French fashion press.

    Sources revealed to FashionNetwork.com late Friday that the Chinese group would acquire France’s oldest fashion maison, beating out Qatar’s Mayhoola, winning the auction-style fight for Lanvin that has been ongoing for some weeks.

    “Fosun has won Lanvin and an announcement should be made this week,” one of the sources said.

    The deal will see Fosun International invest more than 100 million euros in Lanvin with the company issuing new shares to its new controlling shareholder.

    Current majority shareholder Shaw-Lan Wang, the Chinese, Taiwan-based entrepreneur, who goes by Madame Shaw, will remain a minority shareholder alongside Swiss German entrepreneur Ralph Bartel, who had to increase his stake in Lanvin to do so. It remains unclear how much of the cash will go to Madame Shaw.

    “It is a surprising decision,” one of the sources said. “This is a complex affair, many will be watching how Fosun handles it.”

    It’s a blow to Mayhoola’s portfolio also. The owner of Valentino and Balmain has been eyeing Lanvin for a decade now.

    Sales at Lanvin have more than halved in the past three years to less than 100 million euros as the French fashion house struggled to reinvent itself under two successive designers in a desperate attempt to find the right strategy after sacking its star designer Alber Elbaz in 2015.

    Owned by Shanghai billionaire Guo Guangchang, Fosun International already has investments in luxury companies, namely French holiday operator Club Med and knitwear band St. John in the United States. It also has stakes in insurance and trading companies.

    It was reported in September last year that the Chinese investor was also in the running to purchase Swiss luxury brand Bally. However, it was announced this week that fellow Asian investor Shangdong Ruyi, the Chinese group that also controls SMCP and Aquascutum, has acquired Bally.

    Lanvin, Fosun International and Mayhoola were unavailable to make a comment on the news.

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  • Shiseido’s results for 2017

    Shiseido’s results for 2017

    Shiseido just released its results for the Fiscal Year Ended 31 December 2017.

    Shiseido achieved Global Net Sales of ¥1,005,062 (compared to ¥850,306 in 2016) and a Global Operating Income of ¥80,437 (compared to ¥36,780 in 2016).

    In the Asia Pacific Business, the brands driving sales are Clé de Peau Beauté, NARS, and other brands in the prestige category, mainly in South Korea, Thailand, and Taiwan.

    Sales of Clé de Peau Beauté were particularly strong in the flagship store opened in Singapore.

    In the cosmetics and personal care categories, sales growth was seen for SENKA, which benefited from enhanced marketing tailored to the differing consumer preferences and lifestyles in each country, and for the sunscreen ANESSA, owing to an expansion of sales channels.

    The growth is the result of the improvement in the product mix and higher margins.

    The Shiseido Group formulated VISION 2020, a medium- to long-term strategy in 2014 while positioning the three years from fiscal years 2018 to 2020, as the period to accelerate growth in order to tackle a new strategy.

    It seems this long-term strategy is working and the company plans to announce the new three-year medium-term management plan on 5 March 2018, and disclose the consolidated results forecasts and the dividend forecast for the fiscal year ending December 2018, the initial year of the plan.

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  • Pandora posts good numbers in challenging market

    Pandora posts good numbers in challenging market

    Danish jewellery manufacturer and retailer Pandora reports a strong year despite market challenges.

    Group Pandora sales increased by 12 per cent (15 per cent in local currency) last year to DKK22.7 billion (US$3.7 billion). Revenue from Pandora-owned retail grew 42 per cent (46 per cent in local currency). ​

    Like-for-like sales-out growth for the brand’s concept stores was 11 per cent.

    Pandora sales in Asia Pacific were up 25 per cent (28 per cent in local currency).

    Revenue from charms was up 8 per cent and revenue from bracelets increased 8 per cent. Full jewellery brand development remains on track with combined revenue from rings, earrings and necklaces, and pendants up 28 per cent. The three categories represented 26 per cent of group revenue compared with 23 per cent in 2016.

    Gross margin was 74.5 per cent last year, down from 75.1 per cent).

    Describing the year as “challenging and eventful”, CEO Anders Colding Friis says revenue was driven by a strong performance from Pandora-owned retail, and double-digit growth in local currency across all product categories.

  • Amazon 2017 sales soar, record-breaking Q4 profit

    Amazon 2017 sales soar, record-breaking Q4 profit

    Amazon has bested all previous financial quarters with the announcement this month company fourth-quarter revenues hit $60.5 billion, driving profits up 150% to $1.9 billion – a record profit gain for the US e-commerce giant.

    On the back of a strong Christmas period across both its namesake Amazon.com and the newly acquired Whole Foods Inc, Amazon said total revenues soared by 38% compared to the previous year.

    The American company was further helped out by its burgeoning cloud business, Amazon Web Services, which took in $5.11 billion, up 45% on last year.

    Over the three-month period ending December 31, the Seattle-based firm said net income more than doubled to $1.86 billion, or $3.75 per share, thanks also to a $789 million benefit from the U.S. Republican tax bill passed in December.

    The world’s largest online retailer drew millions of new customers to its Prime fast-shipping club too. Amazon said that Prime saw more than 4 million sign-ups in just seven days alone last quarter, and revenue from subscription fees grew 49% to $3.2 billion.

    Amazon said it expects operating profit this quarter of between $300 million and $1 billion.

    In a statement, chief executive officer Jeff Bezos also praised the company’s Alexa voice assistant: “Our 2017 projections for Alexa were very optimistic and we far exceeded them. We don’t see positive surprises of this magnitude very often.”

    Amazon continues to break into new retail territory. In addition to Alexa, the internet shopping giant opened its first automated grocery store in January in Seattle, Washington.

    Dubbed Amazon Go, the checkout-free grocery looks to set the stage for the future of physical store retailing where shoppers serve themselves, with the option of leaving without ‘paying’.

    Amazon also recently revealed a healthcare deal with partners Berkshire Hathaway and J.P. Morgan Chase. Looking ahead, it plans to “double down” on Alexa’s promotion while it continues to look for a second headquarters location in North America.

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  • Macy’s New Verona Collection Includes Hijabs

    Macy’s New Verona Collection Includes Hijabs

    Macy’s has launched what it describes as a “modest clothing brand” – the Verona Collection – targeting Muslims and women seeking conservative styling.

    The brand was founded by Lisa Vogl and finds its way onto Macy’s online store this month after Vogl graduated from the US department store’s incubator program The Workshop at Macy’s.

    “Verona Collection is more than a clothing brand. It’s a platform for a community of women to express their personal identity and embrace fashion that makes them feel confident on the inside and outside,” said Vogl. “Macy’s has been an amazing partner, helping us strengthen the foundation of our business through The Workshop at Macy’s and now introducing our brand to their consumers through this collaboration.”

    The Verona Collection will feature a curated selection of versatile, ready-to-wear pieces including dresses, tops, cardigans, pants and hijabs in a variety of colors and fabrics.

    Inspired by Vogl’s personal experience looking for fashionable and modest clothing, the modest clothing brand’s standout pieces include maxi dresses, versatile cardigans and hand-dyed hijabs. Accented with asymmetric buttons, the maxi dress is a modern take on a timeless classic and cardigans come in sleeveless and full sleeve styles for layering-look options. The hijabs are hand-dyed in versatile fabrics making them perfect for any occasion.

    “Through The Workshop at Macy’s, Lisa shared her vision to create a collection that speaks to a community of women looking for a solution to their fashion needs,” said Cassandra Jones, senior VP of Macy’s Fashion. “Verona Collection offers a unique and understated elegance through everyday essentials designed for versatility and comfort, and through our partnership, we can better serve our customer looking for modest fashion.”

    Shawn Outler, Macy’s executive VP– licensed businesses, food services and multicultural initiatives, says The Workshop at Macy’s, founded in 2011, nurtures and supports minority- and women-owned businesses to build their capabilities and become the next generation of retail partners.

    Items in the Verona Collection range in price from $12.95 to $84.95 and go on sale on macys.com from February 15.

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  • Amazon unveiled its plans for Whole Foods

    Amazon unveiled its plans for Whole Foods

    Ever since Amazon spent $13.7 billion on Whole Foods in June 2017, theories have been swirling as to why the world’s biggest e-commerce firm would get into the old-time business of selling groceries in stores.

    Now it is becoming clearer that what Amazon really wanted was a slice of real estate closer to consumers, to get goods faster to them than ever.

    The clearest signal so far: Amazon announced Thursday that people subscribing to its Prime service in four major U.S. cities (Austin, Cincinnati, Dallas and Virginia) can get groceries from Whole Foods delivered within just two hours of placing an order, for free. They’ll be able to order fresh meat, seafood, flowers and “most” of the items stocked in their local Whole Foods outlets, the company says.

    That means you could theoretically eat lunch, and then order your dinner ingredients on the same day.

    The move could have far-reaching consequences once Amazon begins introducing speedy delivery from other Whole Foods outlets across the world, raising consumer expectations and putting pressure on other grocers to offer the same kind of shipments too.

    In one movement, Amazon has also taken the so-called “last mile” delivery problem it’s been trying to solve with one-day deliveries on Prime, and flipped it on its head.

    Instead of driving goods to your house from a vast warehouse on the edge of the city, it’s bringing them direct from main street; with an order being processed just down the road, the last mile is now the “first mile.”

    For now, this applies to the groceries that are traditionally available in Whole Foods. But some in the e-commerce industry believe Amazon has been planning to seriously restructure Whole Foods stores, sectioning off areas that it can turn into miniature versions of its highly-automated warehouses.

    That could allow Prime customers to not only receive Whole Foods fresh fish and veg, but popular household items like toothpaste and baby diapers.

    Amazon wants to build a distributed supply chain, says Elram Goren, who runs CommonSense Robotics, an Israeli startup selling automated-warehouse technology to rival grocery chains, and to be “close to their customers.”

    While that might seem like a threat to other grocers, Goren contends that Amazon is setting an example those competitors can follow too. That is, if they’re willing to make radical changes to the way they use their stores, and also turn sections of them into “micro-fulfilment centers.”

    “For a very long time, e-commerce was growing extremely fast and companies like Walmart, Kroger or Albertsons, didn’t really have have any kind of strategic advantage over Amazon,” he adds.

    “But with online groceries they have that infrastructure. Think of a store. It already has a supply chain coming in, and it is by definition close to the customer.”

    Tom Adeyoola, who founded the British e-commerce startup Metail, agrees retailers need to embark on a “big change in mindset,” and take advantage of the fact that their stores are physically closer to customers than Amazon’s warehouses.

    “If you could have a big store footprint, how can you turn that into a fulfilment center?” he says. Companies with a trusted logistics model and reliable delivery service could have the most success, he adds.

    Amidst a so-called retail apocalypse that’s swallowing up storied retailers like JCPenney and Toys R’ Us, that could be a model worth thinking about.

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  • Off-White and Jimmy Choo together for Galeries Lafayette

    Off-White and Jimmy Choo together for Galeries Lafayette

    Announced in September 2017 during the spring/summer 2018 shows, the much anticipated “Off White c/o Jimmy Choo” collaboration will be launched globally on 21 February 2018 both online and in store.

    To mark the occasion, the two brands will open a pop-up store in Galeries Lafayette on Boulevard Haussmann in order to showcase the original collection’s different looks. The space will remain open until 4 March 2018.

    The collection is Jimmy Choo’s first partnership with a ready-to-wear designer for a line of commercial footwear.

    The brand has teamed up with Off-White, headed by fashion prodigy Virgil Abloh, which has previously worked on collaborations with sportswear-inspired brands such as Nike.

    The pieces in the collaboration were inspired by Diana, Princess of Wales, channeling iconic 90’s design while also incorporating details reflecting current trends in order to appeal to the needs and tastes of modern princesses.

    In this spirit, the collection features conceptual shapes, tulle, floral embellishments and gemstones.

    Speaking of the collaboration, Sandra Choi, Jimmy Choo creative director, explained, “To collaborate with a brand like Off-White allows Jimmy Choo to explore a new avenue and take part in a different conversation.

    I love to mix it up by getting together with a different creative mind, identifying our synergies and combining our DNA to create a beautiful and surprising collection with unexpected links to the roots of our brand.”

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  • Skechers Q4 global sales jump 27 percent

    Skechers Q4 global sales jump 27 percent

    Shoe retailer Skechers posted a 27 per cent increase in sales in the last quarter, powered by a 40 per cent increase in international wholesale sales, and a strong performance in China.

    “Last year was monumental for Skechers as we achieved sales of more than US$4 billion for the first time in our 25-year history,” said Robert Greenberg, Skechers CEO.

    “This growth is due to our continued focus on efficiencies and infrastructure as well as innovation, comfort, and relevancy within our product design. In the US, we remained the No 1 walking, work, casual lifestyle, and casual dress footwear brand, and the No 2 casual athletic footwear brand.

    “Furthermore, we grew our Skechers store base to 2570 locations at year-end and saw impressive growth across the globe – including record sales on Single’s Day in China,” said Greenberg.

    “As we look ahead, with fresh styles shipping for spring, we believe we will remain a leader in the lifestyle footwear channel in the US, selectively expand our retail footprint, and continue our global growth as we see our international business becoming an increasingly larger piece of our total business.”

    Global annual sales rose $600 million year-on-year to $4.16 billion, “a testament to the worldwide strength and relevance of our product, marketing and brand,” added COO David Weinberg.

    In its own stores, Skechers achieve comparable same-store sales growth of 10.5 per cent in the US market and 16.5 per cent overseas. It added 75 stores during the year, 22 of them in the last quarter.

    While the company reported a net loss of $66.7 million for the last quarter, this was hugely impacted by a $99 million tax charge linked to the Trump government’s taxation reform enacted in December. Earnings from operations increased 96.9 per cent primarily due to sales growth.

    For the full year, Skechers earned $179.2 million, down 26.4 per cent on 2016’s $243.5 million, but that, too, is after the taxation impact.

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  • Columbia Sportswear Company Reports Record Sales and Earnings

    Columbia Sportswear Company Reports Record Sales and Earnings

    Columbia Sportswear has reported record fourth quarter net sales of US$776 million for the three months to December.

    The figure represents an 8 per cent increase on the same period a year earlier. Fourth quarter operating income was $109.4 million, but the company recorded a $7.1 million net loss for the period, largely due to restructuring costs under its Project Connect program.

    Full year net sales increased 4 per cent, to a record $2.47 billion, while full year net income fell from $191.9 million to $105.1 million, again due to restructuring costs and one-off items.

    President and CEO Tim Boyle described the sales figures as “better than expected” citing continued growth in Europe and North America, along with improved sales by distributor partners globally.

    “We are particularly encouraged by the strong results we achieved in Europe-direct in 2017, completing a third consecutive year of double-digit constant-currency net sales growth and continued improvement in operating margin. A relentless focus also drove 2017 net sales growth in the US, with expansion of direct-to-consumer offsetting challenges in wholesale resulting from the effect of bankruptcies, liquidations and stores closures.”

    Boyle said the company anticipates further sales and earnings growth this year, and a continuation of the company’s strategic repositioning.

    “With record cash and short-term investment balances of $768.1 million exiting 2017, and no long-term debt, we have the flexibility to adapt our business as our major markets continue to evolve. It is from this position of strength that we are investing in our strategic priorities to drive brand awareness and sales growth through increased, focused demand creation investments, enhance consumer experience and digital capabilities in all our channels and geographies, expand and improve global DTC operations with supporting processes and systems; and invest in our people and optimise our organisation across our portfolio of brands.”

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