Footwear retailer Genesco Inc, known for its Journeys brand, estimated second-quarter results below analysts' forecast, hurt by challenging sales environment, and the company slashed its adjusted profit outlook for the current year.
Following date changes announced by the Milanese international footwear trade show, which is scheduling its two yearly shows earlier in the season, other Italian trade shows – including the leather-goods show and the Chinese edition of TheMicam – are adjusting their calendars.
Online retailers JustFab and ShoeDazzle are making a bigger-is-better play and merging in an effort to grow faster, the companies said Wednesday. "Ecommerce is all about that mass scale," said Adam Goldenberg, currently co-chief executive of JustFab.
Danish fashion magnate Anders Holch Povlsen has taken a 10 percent stake in Europe's biggest online fashion retailer Zalando from early stage investors as bricks-and-mortar retailers look to take a slice of booming e-commerce.
Rocket Internet, the venture capital company behind online brands such as retailer Zalando, says investors' growing interest in internet businesses could help it more than triple its portfolio over the next five years.