Connect with us

Fashion

Schuh launches voluntary redundancy drive, to review store portfolio

Published

on


Published



January 24, 2025

A cost-cutting programme at Schuh includes a round of staff cuts. The major footwear retailer has begun a voluntary redundancy process, “citing rising costs and challenging economic conditions”.

Schuh

The Livingston, Scotland-based brand will also be reviewing its store portfolio “to ensure it was able to adapt to the current environment”. As of the end of 2023, the company operated 121 stores across all territories.

Although the number of job-losses have yet to be given, or details of which departments were at risk, the move is in stark contrast to just months ago when when Genesco-owned Schuh reported increasing its staff headcount.

In November, the company revealed it had created nearly 400 new roles during its latest financial year, pushing staff numbers to 4,369, exceeding pre-pandemic levels.

That came on the back of strong fiscal 2023 financial results when turnover increased to £380.8 million from £354.4 million with pre-tax profits rising from £13.4 million to £21 million. 

Speaking to The Scotsman newspaper, Schuh president Colin Temple said: “Our people have and always will be our most important asset. Due to ongoing challenging economic conditions and rising costs, we have made the difficult decision to restructure our business.

“We are going through a voluntary redundancy process in some areas of business. In the interest of respecting our employees during this time, we won’t be commenting any further.”

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fashion

Bubu Ogisi’s Iamisigo is winner of Zalando Visionary Award 2025

Published

on


Published



January 31, 2025

Zalando has announced Iamisigo, a Nigerian-founded brand, as winner of its Visionary Award 2025 “for its boundary-pushing exploration of artisanal craftsmanship and pioneering textile innovation”.

As well as the €50,000 prize, the label will present its collection on the runway at Copenhagen Fashion Week SS26 in August “with Zalando’s continued support through financial assistance for the show production, facilitating mentorship opportunities and tailored industry connections”.

The company said the award reflects its “commitment to supporting emerging designers who challenge conventions and inspire progress in the fashion industry”.

The brand blends heritage textiles with traditional craft techniques drawn from across Africa. It was founded by Bubu Ogisi and offers “contemporary designs with a bold, fresh perspective”.

At an exhibition at Copenhagen Fashion Week AW25 this week, the award finalists introduced their brands, presented their visions and ethos through a showcase of their hero pieces and a panel talk, hosted by Zalando. 

We’re told the jury chose Iamisigo “for its dedication to blending ethical sourcing with a commitment to empowering local communities. The brand’s distinct voice, visionary and magical aesthetic challenge conventions, offering a new perspective on what it means to drive positive change in fashion; transcending gender norms, designing for spirits and energies”.

The jury also said that Bubu Ogisi “embodies the essence of a visionary in many ways, and that she is a rare creative talent working in this space today, with a brand whose output is both beautiful and miraculous”.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Hoka-parent Deckers Outdoor’s forecast disappoints despite solid holiday quarter

Published

on


By

Reuters

Published



January 31, 2025

Deckers Outdoor on Thursday beat third-quarter sales estimates on robust holiday demand for its Hoka running shoes, but an in-line annual forecast caused the footwear maker’s shares to tumble 17% in extended trading.

Ugg

Hoka shoes with their oversized soles have been gaining market share from brands such as Nike in the sportswear category. The brand, which retails for up to $300 in the United States, have also enjoyed full-price sales.

This drove up the company’s third-quarter revenue by 17% to $1.83 billion, beating analysts’ average estimate of $1.73 billion, according to data compiled by LSEG. Deckers also raised its annual net sales forecast for a second time this year.

“The guidance looks pretty conservative and considering the beat, it’s bit of a negative read into the out quarter,” said Drake MacFarlane, analyst at MScience.

The popularity of the Hoka shoes and the success of the company’s Ugg boots and sandals has helped it post double-digit revenue growth for nearly seven quarters.

The company now expects annual net sales to increase about 15% to $4.9 billion, compared with its prior expectation of about 12% growth to $4.8 billion. Analysts estimated an increase of 14.9% to $4.93 billion.

Deckers expects annual earnings per share of $5.75 to $5.80, compared with its prior forecast of $5.15 to $5.25.

© Thomson Reuters 2025 All rights reserved.



Source link

Continue Reading

Fashion

Amazon ramps up ad spending on Elon Musk’s X, WSJ reports

Published

on


By

Reuters

Published



January 31, 2025

Amazon.com is increasing its advertising on billionaire Elon Musk’s social media platform X, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Reuters

The major shift comes after the e-commerce giant withdrew much of its advertising from the platform more than a year ago due to concerns over hate speech.

In 2023, Apple also pulled all of its advertising from X and has recently been in discussions about testing ads on the platform, the report said.

Several ad agencies, tech and media companies had also suspended advertising on X following Musk’s endorsement of an antisemitic post that falsely accused members of the Jewish community of inciting hatred against white people.

Monthly U.S. ad revenue at social media platform X has declined by at least 55% year-over-year each month since Musk bought the company, formerly known as Twitter, in October 2022. He had acknowledged that an extended boycott by advertisers could bankrupt X.

Musk has become one of the most influential figures following President Donald Trump‘s re-election. He now leads the Department of Government Efficiency, which aims to cut $2 trillion in government spending.

© Thomson Reuters 2025 All rights reserved.



Source link

Continue Reading

Trending

Copyright © Miami Select.