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Shoemakers report growth in sales

A number of international footwear companies have logged increased sales figures, including the following organisations.

Details from athletic footwear manufacturer Yue Yuen covering the first three quarters of 2021 indicate revenue close to USD 6.5 billion (GBP 4.9 billion), which is an upturn of 5.8 per cent year-on-year. Average price per pair for these first nine months was USD 18.43 (GBP 13.80) – a rise of 3.1 per cent. The company shipped 179 million pairs over this period, which is comparable to the same months in 2020. Yue Yuen stated that it had seen a solid, post-covid recovery in the first half of 2021, but that this had been largely offset by disruption to its Vietnamese manufacturing operations as well as weak retail sales in the third quarter. It now intends to expand production to what it calls ‘normal levels and in a safe and orderly manner’ during the coming months.

In the second quarter of its fiscal 2022 business period to the end of September 2021, California-based Deckers posted net sales that had grown by 15.8 per cent over the same months in 2020 to reach USD 721.9 million (GBP 540.5 million) – a result that was primarily driven by the Hoka brand’s performance. Domestic net sales rose by 20.4 per cent to total USD 514.6 million (GBP 385.3 million), and international trade reached USD 207.3 million (GBP 155.2 million), as compared to USD 196.1 million (GBP 146.8 million) in the similar period last year.

Italian footwear producer Geox has announced consolidated revenue of EUR 463.5 million (USD 523.4 million/GBP 392.0 million) for the first nine months of 2021. This is an increase of 7.8 per cent compared to the same period last year and is said to reflect the positive impact of retail stores gradually reopening since the second quarter. During this time, sales in Italy (which are responsible for 24.1 per cent of the company’s total revenue) rose by 9.4 per cent, to EUR 111.8 million (USD 126.3 million/GBP 94.6 million). Sales in North America grew by 4.2 per cent to EUR 19.1 million (USD 21.6 million/GBP 16.2 million) between January and September. Revenue from other countries generated EUR 119.7 million (USD 135.2 million/GBP 101.2 million) – up by 15.9 per cent compared to 2020, with the Chinese market seeing a 6.9 per cent boost and a 23 per cent improvement in Eastern Europe.

Michigan-based Wolverine Worldwide is said to have delivered strong double-digit revenue growth and exceptional earnings leverage, despite supply chain disruption and delays with global logistics, according to chairman and chief executive Blake Krueger. During the third quarter of 2021, the company reported increased revenue of 29.1 per cent year-on-year, reaching USD 636.7 million (GBP 476.9 million). Revenue from e-commerce was up by 45 per cent during the quarter of 2021 when compared to the same period in 2020, representing a 126 per cent rise over the third quarter of 2019.

The photograph above is courtesy of Wolverine Worldwide.

Publishing Data

This article was originally published on page 3 of the December 2021 issue of SATRA Bulletin.

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