Shoemaker Skechers will give Nike a run for its money in next 3 years
American shoe-making company Skecher has grown in the last two decades to become the third largest footwear brand in the world, behind Nike and Adidas AG. Analysts are suggesting the company's earnings growth may be on par with that of Nike over the next three years, thanks to a broader footwear catalog, with predicted rates of around 15 percent.
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Indian economy is struggling and the worst is yet to come
Indian economy expanded at the rate of 3.1% in the first quarter of 2020, its weakest quarterly growth in the last eight years but the worst is yet to come as the data is not covering the impact of lockdowns and unemployment numbers. India's economy had been struggling well before the coronavirus pandemic hit, with the rate of expansion slumping to about half of what it was three years ago
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Plunging sales of Adidas
Plunging sales of Adidas
Adidas has predicted that sales will fall by 40% in the second quarter, as the impact of the coronavirus takes hold. The German sportswear giant on Monday reported a 19% decline in net sales for the first quarter from the year before, as 70% of its stores worldwide closed as a result of the Covid-19 pandemic. Adidas expects “both top- and bottom-line declines in the second quarter of 2020
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CNBC
Italian shoe designer Sergio Rossi dead from COVID-19
Sergio Rossi, the 85-year-old Italian women's footwear designer responsible for founding the high-end women's footwear industry in the mid-20th century, has passed away due to the COVID-19 infection. Rossi passed away in his hometown of Cesena in central Italy. The country's coronavirus death toll is the highest in the world at 13,915 confirmed deaths.
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Reuters
Crocs to provide free shoes to healthcare workers during the epidemic
Crocs has said that all healthcare workers can get a free pair of shoes from their website to help them combat the coronavirus. A number of healthcare workers had asked crocs to launch this initiative as their shoes are comfortable and very easy to clean. The company is ready to ship 10,000 shoes per day.
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