Latest news with #DrScholl
Time of India
09-05-2025
- Business
- Time of India
Coach owner Tapestry lifts forecasts on solid demand for handbags
HighlightsTapestry raised its 2025 revenue and profit forecasts for the third time in 2023, anticipating profit of around $5 per share and annual revenue of approximately $6.95 billion. The company's sales exceeded expectations, driven by strong demand for its Coach handbags, particularly among younger shoppers in North America and China, leading to a significant 8.5 per cent increase in shares during premarket trading. Tapestry's net sales for the quarter ended March 29 reached $1.58 billion, surpassing estimates of $1.53 billion, and the company reported earnings of $1.03 per share, beating expectations of 88 cents. Tapestry on Thursday raised its 2025 revenue and profit forecasts for a third time this year, taking advantage of its limited exposure to the sweeping U.S. tariffs and higher full-price sale of its popular Coach handbags . Its shares jumped 8.5 per cent in premarket trading as steady demand for the company's Tabby, Brooklyn and Empire leather handbags among younger shoppers in North America and China helped it beat third-quarter results expectations. The company's sales benefited from product innovations, a sharp marketing strategy and full-price selling and come despite a downturn in the luxury market that has hurt players such as French luxury groups LVMH and Kering. Tapestry's price increases boosted margins, which grew 140 basis points in the quarter from last year. Sales in its biggest North America segment rose 9 per cent, while in Europe it surged 32%. Coach, which makes up roughly 80 per cent of overall sales for Tapestry, saw sales grow 13 per cent from last year. Coach products are made in Vietnam, Cambodia, the Philippines and India with no vendor providing 10 per cent or more of total inventory purchases, according to Tapestry's 2024 annual report. It also had limited exposure to China. The company divested its footwear brand Stuart Weitzman in February to Dr Scholl's footwear owner Caleres for $105 million. That was part of its effort to focus on higher-margin Coach and Kate Spade businesses following a failed attempt to merge with Michael Kors-owner Capri last year. Tapestry expects profit of around $5 per share, compared to a prior forecast of $4.85 to $4.90. Annual revenue is projected to be about $6.95 billion, compared to its earlier expectation of more than $6.85 billion. Net sales for the quarter ended March 29 came in at $1.58 billion, above estimate of $1.53 billion, according to data compiled by LSEG. It earned $1.03 per share, beating estimates of 88 cents.
Daily Mail
27-04-2025
- Entertainment
- Daily Mail
'Ugly' orthopaedic shoes are back in fashion - but would YOU splash out £600 for a pair?
They may have been designed to help with painful bunions and other foot-related maladies, but so-called 'orthopaedic' ugly shoes are back in style. Footwear from brand like Dr Scholls and Crocs will be the top choice among fashionistas this Summer - despite their lack of aesthetic appeal. According to the Telegraph, the practical footwear is coming back in vogue as part of the 70s boho revival. Shoes that were once born from pharmacies for being practical are set to become highly desirable as a style statement this Spring and Summer. The most recognisable style of Dr Scholls is the Pescura design, which features a flat wooden sole and a leather strap across the toes. They retails for around £117. And some pairs are selling for eye-watering sums, as designer brands are cashing in on the style. In a bid to attract high fashion lovers, Dr Scholls has teamed up with major fashion houses to create pricy new options. Among the designers to partner with the orthopaedic brand are Balenciaga, which created a line of 'ugly chic shoes'. There are six different pairs in the line, including high heeled versions of the Pescura design - with the most expensive pair from the Scholl x Balenciaga line costing a staggering £625. According to Demna Gvasalia, the former creative director of Balenciaga, she wanted to create 'the most comfortable heels ever made'. The result was a twist on the Pescura - heels were added to the traditional style, with a stiletto version and a lower heeled option, which boasts a cork sole. According to a description on Balenciaga's site: 'This Balenciaga product is part of a collaboration with Scholl. Combining creativity and savoir faire with technical expertise, this series of products aims to propose the most conformable shoes ever made. ' Another designer crossover is the Scholl x Philosophy di Lorenzo Serafini option. Philosophy is a diffusion line from the extremely upmarket Italian label Alberta Feretti. Among the options available in the range is the Mary Jane Clog Philosophy x Scholl, which has a RRP of £600. Inspired by traditional Mary Jane strap shoes, the clogs come in multiple colourways including black and brown. They boast a thick wooden sole with an enclosed toe and double strap with buckles. The description on the brand's website says: 'Mary Jane Clog in polished abrasive calfskin made in collaboration with Scholl. Characterized by a wooden structure and a leather upper with double strap, it features a design reminiscent of the seventies. 'Available in two color options: a total black version for a more glam-rock style and a leather variant for a more bohemian vibe.' The most famous Dr Scholl style - the Pescura - was designed in 1956. Old advertisements for the shoe say wearing them will 'shape, tone and firm your legs with every step you take'. This is due to how wearers are forced to grip onto the shoes with their toes, as they only have a strap at the front. Before their recent renaissance, the Pescura was considered a shoe for hippy-types, and desperately unfashionable. Fashion editor and ceramicist Deborah Brett told the Telegraph that when she was growing up, her mother wore Dr Scholls, specifically the Pescura model with a cream coloured strap. She said: 'Even as a child, I understood they were uncool. There's a German word: oko. It translates to 'eco', and basically means that you're a bit crusty.' However, she has now changed her opinion, and wears her mother's Scholls - which she has not yet had to get resoled, as they are so hardwearing. Describing how she likes to style them, Deborah said: 'I love Scholls with capri pants. You see a little bit of an ankle and they look really cool. Same with an A-line skirt – the shoes give you a bit of height, which you need with that silhouette. You can also pair them with a white linen suit in the summer, elevating your look from classically elegant to fashion-forward elegant.' Despite their utilitarian appearance, the Pescura is set to win over a legion of new fans, after actress Sarah Jessica Parker was spotted wearing on the set of And Just Like That last year. Perhaps surprisingly, the casual sandals received a lot of positive reviews as something fans seemed to definitely want to emulate when an image of the Sex and the City star was posted on Instagram. 'Loving the Dr. Scholls,' wrote one. 'The Dr Scholl's! I'm so jealous ❤️' said another.
Reuters
19-02-2025
- Business
- Reuters
Coach parent Tapestry to sell Stuart Weitzman footwear brand for $105 million
Feb 19 (Reuters) - Coach parent Tapestry (TPR.N), opens new tab will sell the Stuart Weitzman brand to Dr Scholl's footwear owner Caleres (CAL.N), opens new tab for $105 million in cash, the companies said on Wednesday. The divestment comes months after Tapestry and Michael Kors-owner Capri (CPRI.N), opens new tab abandoned their $8.5 billion merger following a legal challenge. "Stuart Weitzman will be a lead brand for Caleres, and with this combination the brand portfolio segment will generate nearly half of our total revenue and will continue to generate over half of our operating profit," said Caleres CEO Jay Schmidt. Caleres also houses Sam Edelman and Vince. Tapestry witnessed strong demand for Coach's Tabby handbags in the reported quarter, while Kate Spade and Stuart Weitzman lagged. The deal is expected to close in the summer of 2025, the companies said.
Yahoo
19-02-2025
- Business
- Yahoo
Coach parent Tapestry to sell Stuart Weitzman footwear brand for $105 million
(Reuters) - Coach parent Tapestry will sell the Stuart Weitzman brand to Dr Scholl's footwear owner Caleres for $105 million in cash, the companies said on Wednesday. The divestment comes months after Tapestry and Michael Kors-owner Capri abandoned their $8.5 billion merger following a legal challenge. "Stuart Weitzman will be a lead brand for Caleres, and with this combination the brand portfolio segment will generate nearly half of our total revenue and will continue to generate over half of our operating profit," said Caleres CEO Jay Schmidt. Caleres also houses Sam Edelman and Vince. Tapestry witnessed strong demand for Coach's Tabby handbags in the reported quarter, while Kate Spade and Stuart Weitzman lagged. The deal is expected to close in the summer of 2025, the companies said. Sign in to access your portfolio
