S&V Weekly Newsletter Vol.11 No.32, August 11 2025
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Cape Union Mart growing casual as an add-on to outdoor apparel
Steve Pearson, GM, and Vuyolwethu Yekiso, Buying Lead, responded to questions about Cape Union Mart’s apparel local sourcing, and about its new casual footwear offering.
We are committed to growing the contribution of local production. In addition to being a proudly South African retailer, we are also a proudly South African manufacturer. Our partnership with local suppliers/agents is part of supporting local businesses.
Our sheep’s wool slippers, vellie boots and EVA flip flops are locally made. These are core product categories in our footwear business with consistent year-on-year volume growths. Our vellie boots and sheep’s wool slippers are 100% local meaning all materials and components are from South Africa.
We have a growing market share as a leisure apparel destination, and are banking some of the learnings taken from other retail brands in our stable.
Our leisure range is changing at the moment, influenced in part by Old Khaki, which has a separate team and buyer.
Cape Union Mart offers a leisure footwear and outerwear range through our in-house brands, Rare Earth (our women's leisure brand) and K Way Elements (our men's leisure brand). Both brands operate under the K Way umbrella, which is renowned for its focus on technical performance.
Our leisure footwear mirrors the ethos of our leisure outerwear, designed to meet the needs of our customers who seek versatility in travel, work, and safari. Each product embodies K Way’s brand promise of quality, durability, and innovation.
In the footwear category, we have enhanced this ethos to emphasise timeless style and comfort. Our footwear range is primarily crafted from premium materials and components, incorporating extra technical features, when possible, to ensure suitability for everyday wear.
Our range is a combination of international and local. Locally, we have worked with Bolton Footwear and Smileys Footwear.
Is it a risk to include non-technical casual wear in a store best known for more technical merchandise? No, as we offer leisure as a lifestyle solution and our leisure is our outdoor customer at work, or when traveling or on safari …… and think of Rare Earth as the partner.
 
Extracts from global company results
Under Armour: First quarter fiscal 2026
"We are pleased our quarterly results met or exceeded our expectations as we drive a bold transformation – sharpening Under Armour into a brand where sports credibility, innovation and style meet operational discipline," said Under Armour President and CEO Kevin Plank. "Despite ongoing uncertainty, our brand is gaining strength and we're executing our strategic plan with clarity and confidence." Plank continued, "Moving ahead, we're focused on strengthening our brand positioning with premium products and increasing our average selling prices through innovative offerings, optimizing our top-volume programs, and creating a more compelling full, price-to-value proposition. Regardless of the backdrop, this is about building a fearless, thoughtful, and stronger Under Armour."
First Quarter Fiscal 2026 Review
- Revenue declined 4% to $1.1 billion (down 4% currency-neutral).
- North American revenue decreased 5% to $670 million, while international revenue declined 1% to $467 million (down 2% currency-neutral). Within the international business, revenue in EMEA increased 10% (up 6% currency-neutral), decreased 10% in Asia-Pacific (down 10% currency-neutral), and declined 15% in Latin America (down 8% currency-neutral).
- Wholesale revenue decreased 5% to $649 million, and direct-to-consumer revenue fell 3% to $463 million. Revenue from owned and operated stores increased 1%, while eCommerce revenue declined 12% and accounted for 31% of the total direct-to-consumer business for the quarter.
- Apparel revenue decreased 1% to $747 million, footwear revenue declined 14% to $266 million, and accessories revenue increased 8% to $100 million.
- Gross margin increased 70 basis points to 48.2%, primarily due to favourable foreign exchange, pricing, and product mix, partially offset by an unfavourable channel mix and higher supply chain costs compared to the prior year.
- Selling, general, and administrative expenses decreased 37% to $530 million as the prior year included a significant legal reserve expense. Adjusted selling, general, and administrative expenses decreased 6% to $522 million, which excludes approximately $8 million in transformation expenses related to our Fiscal 2025 Restructuring Plan.
- Restructuring charges were $13 million.
- Operating income was $3 million. Excluding transformation expenses and restructuring charges, adjusted operating income was $24 million.
- Net loss was $3 million. Adjusted net income was $9 million.
Second Quarter Fiscal 2026 Outlook
Given ongoing uncertainty around trade policies and the broader macroeconomic environment, including potential demand and cost impacts from tariffs, key considerations for our fiscal 2026 second-quarter outlook compared to the same period in the prior fiscal year include:
- Revenue is expected to decline 6 to 7%. This includes an anticipated low-double-digit percent decrease in North America, high-single-digit percent growth in EMEA, and a low-teens percent decline in the Asia-Pacific region.
- Gross margin is expected to decline 340 to 360 basis points, primarily due to supply chain headwinds, mainly resulting from anticipated impacts of tariffs, along with an unfavourable channel mix. Favourable foreign exchange impacts and pricing benefits are expected to offset this decline partially.
Skechers: Second quarter 2025
Second Quarter 2025 Highlights
- Second quarter sales of $2.44 billion, a year-over-year increase of 13.1%, which includes a favourable impact due to foreign currency exchange rates of $33.9 million; sales of $2.41 billion on a constant currency basis, a year-over-year increase of 11.5%
- Wholesale sales grew 15.0%
- Direct-to-Consumer sales grew 11.0%
- Diluted earnings per share of $1.13, which includes a favourable impact due to foreign currency exchange rates of $0.30 per share; diluted earnings per share on a constant currency basis of $0.83
Appointment
Mossel Bay, W. Cape, SA – Anya Brits has been appointed as Environmental Officer at Cape Karoo International’s Mossel Bay tannery.
They Said It
"Reminiscing recently on how our once great South African shoe industry has been decimated by neglect from our government." - Rowan Allison, Alleather Sales, Durban, KZN, SA. He then listed about 50 former shoe factories and tanneries which are no more. Sobering reading.
Got anything you'd like to share?
Do you have any suggestions, comments or experiences about the industry that you'd like to share with the industry? - tony@svmag.co.za
Birthdays this week
11/08/1953: Andy Stern, Intershu, Johannesburg, Gauteng, SA.
11/08/1978: Natashia Singh, Palm Footwear, Durban, KZN, SA.
12/08/1962: Alyssa Joubert, Ally Shoes, Hermanus, W. Cape, SA.
13/08/1969: Clinton Hoar, XS Denim, Durban, KZN, SA.
14/08/1949: Benjy Lapiner, Cape Produce Company, Port Elizabeth, E. Cape, SA.
15/08:19??: Bob McDonald, retired, formerly Budget Footwear [closed], Durban, KZN, SA.
16/08/1948: Bill Zurich, retired, formerly Shoeperama, Pretoria, Gauteng, SA.
16/08/1948: Chris Williamson, Trader Vic, Johannesburg, Gauteng, SA.
16/08/1957: Paul McMillan, Reflex, Great Brak River, W. Cape, SA.
16/08/1969: Rajeev Pattundeen, Palm Footwear, Durban, KZN, SA.
17/08/1959: Berkly Lupton, agent, Johannesburg, Gauteng, SA.
17/08/1972: Alistair Watt, Bresan Footwear, Pietermaritzburg, KZN, SA.
In memoriam this week
11/08/2011: Ken Riches (b. 15/07/1922), LIRI (closed), educator, Port Elizabeth, E. Cape, SA.
11/08/2022: Walter Kassier (b. 12/01/1946), Eston Leather (closed), Eston, KZN, SA.
12/08/2022: Essop Kader (b. 01/10/1954), Kaytex Belts, Pretoria, Gauteng, SA.
15/08/2011: Geoffrey Leonard Keane-Murphy (b. 08/03/1927), consultant, Durban, KZN, SA.
15/08/2011: Newton Wade (b. 16/06/1925), Panama Shoes (closed), Durban, KZN, SA.
15/08/2015: MH Moosaji, Trendsetters, KwaDukuza, KZN, SA.
16/08/1997: Ed Aubin, agent, Port Elizabeth, E. Cape, SA.
16/08/2012: Margaret Jordaan (b. 15/01/1931), Centra-Cast, Durban, KZN, SA.
17/08/2016: Alan Sykes (b.17/10/1945), Western Tanning (now Mossop Western Tanning) and Corium (closed), Wellington, W. Cape, SA.
17/08/2020: Manilal Jeeva (b. 23/07/1944), P. Jeeva Outfitters, Pretoria, Gauteng, SA.
Have you let us know about your birthday, or the birthdays of your colleagues? Our readers love this section, so please become part of it. This also applies to the In Memoriam section. Help us remember former colleagues.
Directory entries updated last week
Bolton Footwear (Pty) Ltd, Cape Town, W. Cape, SA.
Fairs & events updated last week – see calendar for details
17-20 November 2025: The International Cotton Advisory Committee's 83rd Plenary Meeting, Malaika Beach Resort on the shores of Lake Victoria in Mwanza, Tanzania.
 
Exchange rates
Note: For previous rates, see HERE
1. SA Rand (ZAR)/Lesotho Loti (LSL)/Namibian Dollar (NAD)/Swazi Lilangeni (SZL)
Source: http://www.x-rates.com/calculator/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 01/03/2025 |
R19.38 |
R23.50 |
R18.68 |
R 2.56 |
| 08/03/2025 |
R19.73 |
R23.53 |
R18.22 |
R 2.52 |
| 15/03/2025 |
R19.78 |
R23.49 |
R18.16 |
R 2.51 |
| 22/03/2025 |
R19.71 |
R23.54 |
R18.22 |
R 2.51 |
| 29/03/2025 |
R19.88 |
R23.77 |
R18.34 |
R 2.52 |
| 05/04/2025 |
R20.93 |
R24.73 |
R19.10 |
R 2.62 |
| 12/04/2025 |
R21.73 |
R25.03 |
R19.13 |
R 2.62 |
| 18/04/2025 |
R21.44 |
R25.00 |
R18.83 |
R 2.57 |
| 26/04/2025 |
R21.23 |
R24.85 |
R18.65 |
R 2.56 |
| 03/05/2025 |
R20.79 |
R24.42 |
R18.40 |
R 2.53 |
| 10/05/2025 |
R20.47 |
R24.20 |
R18.19 |
R 2.51 |
| 17/05/2025 |
R20.14 |
R23.96 |
R18.04 |
R 2.50 |
| 24/05/2025 |
R20.28 |
R24.12 |
R17.84 |
R 2.48 |
| 02/06/2025 |
R20.42 |
R24.23 |
R17.89 |
R 2.48 |
| 05/06/2025 |
R20.26 |
R24.06 |
R17.78 |
R 2.47 |
| 14/06/2025 |
R20.73 |
R24.35 |
R17.94 |
R 2.49 |
| 21/06/2025 |
R20.75 |
R24.23 |
R18.01 |
R 2.50 |
| 28/06/2025 |
R20.88 |
R24.46 |
R17.82 |
R 2.48 |
| 05/07/2025 |
R20.70 |
R24.00 |
R17.58 |
R 2.45 |
| 12/07/2025 |
R20.93 |
R24.18 |
R17.90 |
R 2.49 |
| 19/07/2025 |
R20.60 |
R23.78 |
R17.72 |
R 2.46 |
| 28/07/2025 |
R20.82 |
R23.90 |
R17.81 |
R 2.48 |
| 04/08/2025 |
R20.79 |
R23.87 |
R17.98 |
R 2.50 |
| 09/08/2025 |
R20.62 |
R23.85 |
R17.74 |
R 2.49 |
2. Botswana Pula
Source: http://www.x-rates.com/calculator/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 01/03/2025 |
14.29 |
17.32 |
13.77 |
1.89 |
| 08/03/2025 |
14.78 |
17.63 |
13.65 |
1.88 |
| 15/03/2025 |
14.83 |
17.62 |
13.62 |
1.88 |
| 22/03/2025 |
14.74 |
17.60 |
13.62 |
1.87 |
| 29/03/2025 |
14.71 |
17.57 |
13.58 |
1.87 |
| 05/04/2025 |
15.17 |
17.92 |
13.85 |
1.90 |
| 12/04/2025 |
15.78 |
18.18 |
13.90 |
1.90 |
| 18/04/2025 |
15.67 |
18.27 |
13.76 |
1.88 |
| 26/04/2025 |
15.67 |
18.33 |
13.77 |
1.89 |
| 03/05/2025 |
15.39 |
18.08 |
13.62 |
1.87 |
| 10/05/2025 |
15.28 |
18.06 |
13.58 |
1.87 |
| 17/05/2025 |
15.11 |
17.98 |
13.54 |
1.87 |
| 24/05/2025 |
15.34 |
18.26 |
13.49 |
1.87 |
| 02/06/2025 |
15.30 |
18.16 |
13.40 |
1.86 |
| 05/06/2025 |
15.28 |
18.15 |
13.41 |
1.86 |
| 14/06/2025 |
15.46 |
18.16 |
13.38 |
1.86 |
| 21/06/2025 |
15.43 |
18.02 |
13.39 |
1.86 |
| 28/06/2025 |
15.60 |
18.27 |
13.31 |
1.85 |
| 05/07/2025 |
15.58 |
18.07 |
13.23 |
1.84 |
| 12/07/2025 |
14.77 |
17.07 |
12.64 |
1.76 |
| 19/07/2025 |
16.22 |
18.72 |
13.95 |
1.94 |
| 28/07/2025 |
15.81 |
18.16 |
13.53 |
1.88 |
| 04/08/2025 |
15.75 |
18.09 |
13.62 |
1.89 |
| 09/08/2025 |
16.58 |
19.17 |
14.26 |
1.98 |
3. Malawian Kwacha (MWK) (buying)
Source: https://www.rbm.mw/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 01/03/2025 |
1836.44 |
2224.46 |
1717.02 |
95.68 |
| 08/03/2025 |
1912.31 |
2278.93 |
1717.02 |
97.50 |
| 15/03/2025 |
1917.62 |
2286.82 |
1717.02 |
96.82 |
| 22/03/2025 |
1916.03 |
2286.89 |
1717.02 |
97.27 |
| 29/03/2025 |
1907.36 |
2287.95 |
1717.02 |
97.04 |
| 05/04/2025 |
1956.35 |
2309.52 |
1717.02 |
93.40 |
| 12/04/2025 |
2004.45 |
2308.11 |
1717.02 |
91.33 |
| 18/04/2025 |
2009.58 |
2339.94 |
1717.02 |
93.66 |
| 26/04/2025 |
2006.57 |
2351.62 |
1717.02 |
94.02 |
| 03/05/2025 |
2002.68 |
2353.74 |
1717.02 |
96.02 |
| 10/05/2025 |
1988.00 |
2342.77 |
1717.02 |
97.06 |
| 17/05/2025 |
1983.41 |
2357.10 |
1717.02 |
98.16 |
| 24/05/2025 |
2000.56 |
2377.61 |
1717.02 |
98.49 |
| 02/06/2025 |
2017.01 |
2393.35 |
1717.02 |
98.73 |
| 05/06/2025 |
2022.14 |
2396.01 |
1717.02 |
99.61 |
| 14/06/2025 |
2040.88 |
2395.83 |
1717.02 |
98.50 |
| 21/06/2025 |
2037.88 |
2384.86 |
1717.02 |
98.25 |
| 28/06/2025 |
2070.95 |
2429.43 |
1717.02 |
99.17 |
| 05/07/2025 |
2082.80 |
2416.70 |
1717.02 |
100.70 |
| 12/07/2025 |
2065.11 |
2393.71 |
1717.02 |
99.44 |
| 19/07/2025 |
2054.50 |
2372.84 |
1717.02 |
99.43 |
| 28/07/2025 |
2072.89 |
2372.13 |
1717.02 |
99.60 |
| 04/08/2025 |
2043.89 |
2346.49 |
1717.02 |
98.34 |
| 09/08/2025 |
2059.63 |
2374.43 |
1717.02 |
99.76 |
4. Zambian Kwacha (ZMW) (buying)
Source: https://www.boz.zm/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 01/03/2025 |
29.67 |
35.91 |
28.51 |
1.54 |
| 08/03/2025 |
31.07 |
36.95 |
28.59 |
1.57 |
| 15/03/2025 |
31.17 |
37.02 |
28.61 |
1.57 |
| 22/03/2025 |
31.21 |
37.25 |
28.82 |
1.58 |
| 29/03/2025 |
30.80 |
36.95 |
28.55 |
1.57 |
| 05/04/2025 |
30.69 |
36.18 |
27.84 |
1.46 |
| 12/04/2025 |
32.17 |
37.01 |
28.19 |
1.46 |
| 18/04/2025 |
28.42 |
37.65 |
32.29 |
1.51 |
| 26/04/2025 |
31.80 |
37.33 |
28.02 |
1.48 |
| 03/05/2025 |
31.59 |
37.06 |
27.84 |
1.51 |
| 10/05/2025 |
29.81 |
35.19 |
26.47 |
1.45 |
| 17/05/2025 |
30.02 |
35.64 |
26.82 |
1.48 |
| 24/05/2025 |
30.95 |
36.89 |
27.34 |
1.52 |
| 02/06/2025 |
30.13 |
35.83 |
26.59 |
1.48 |
| 05/06/2025 |
28.79 |
34.19 |
25.29 |
1.42 |
| 14/06/2025 |
28.00 |
32.89 |
24.32 |
1.34 |
| 21/06/2025 |
26.59 |
31.18 |
23.10 |
1.28 |
| 28/06/2025 |
27.76 |
32.49 |
23.66 |
1.32 |
| 05/07/2025 |
28.57 |
33.11 |
24.25 |
1.37 |
| 12/07/2025 |
27.16 |
31.38 |
23.24 |
1.29 |
| 19/07/2025 |
26.77 |
30.91 |
22.95 |
1.29 |
| 28/07/2025 |
27.37 |
31.38 |
23.36 |
1.31 |
| 04/08/2025 |
Website would not open this morning |
| 09/08/2025 |
27.01 |
31.13 |
23.18 |
1.30 |
5. Zimbabwe Gold (ZiG)
Source: Source: https://www.rbz.co.zw/
| |
Euro € |
GBP £ |
US$ |
ZAR |
| 01/03/2025 |
ZIG 27.59 |
ZIG 33.42 |
ZIG 26.56 |
ZIG 0.69 |
| 08/03/2025 |
ZIG 28.79 |
ZIG 34.32 |
ZIG 26.64 |
ZIG 0.68 |
| 15/03/2025 |
ZIG 28.91 |
ZIG 34.51 |
ZIG 26.66 |
ZIG 0.68 |
| 22/03/2025 |
ZIG 28.90 |
ZIG 34.52 |
ZIG 26.70 |
ZIG 0.68 |
| 29/03/2025 |
ZIG 28.85 |
ZIG 34.60 |
ZIG 26.74 |
ZIG 0.68 |
| 05/04/2025 |
ZIG 29.68 |
ZIG 35.06 |
ZIG 26.78 |
ZIG 0.70 |
| 12/04/2025 |
ZIG 30.29 |
ZIG 34.88 |
ZIG 26.81 |
ZIG 0.72 |
| 18/04/2025 |
ZIG 30.44 |
ZIG 35.41 |
ZIG 26.79 |
ZIG 0.71 |
| 26/04/2025 |
ZIG 30.38 |
ZIG 35.62 |
ZIG 26.80 |
ZIG 0.70 |
| 03/05/2025 |
ZIG 30.33 |
ZIG 35.71 |
ZIG 26.81 |
ZIG 0.68 |
| 10/05/2025 |
ZIG 30.11 |
ZIG 35.49 |
ZIG 26.84 |
ZIG 0.68 |
| 17/05/2025 |
ZIG 30.11 |
ZIG 35.79 |
ZIG 26.86 |
ZIG 0.67 |
| 24/05/2025 |
ZIG 30.45 |
ZIG 36.18 |
ZIG 26.89 |
ZIG 0.66 |
| 02/06/2025 |
ZIG 30.60 |
ZIG 36.31 |
ZIG 26.92 |
ZIG 0.66 |
| 05/06/2025 |
ZIG 30.79 |
ZIG 36.54 |
ZIG 26.94 |
ZIG 0.65 |
| 14/06/2025 |
ZIG 31.06 |
ZIG 36.50 |
ZIG 26.97 |
ZIG 0.66 |
| 21/06/2025 |
ZIG 31.10 |
ZIG 36.42 |
ZIG 26.99 |
ZIG 0.66 |
| 28/06/2025 |
ZIG 31.48 |
ZIG 36.97 |
ZIG 26.93 |
ZIG 0.66 |
| 05/07/2025 |
ZIG 31.68 |
ZIG 36.78 |
ZIG 26.89 |
ZIG 0.65 |
| 12/07/2025 |
ZIG 31.35 |
ZIG 36.40 |
ZIG 26.83 |
ZIG 0.66 |
| 19/07/2025 |
ZIG 31.13 |
ZIG 35.96 |
ZIG 26.80 |
ZIG 0.66 |
| 28/07/2025 |
ZIG 31.45 |
ZIG 35.98 |
ZIG 26.79 |
ZIG 0.66 |
| 04/08/2025 |
ZIG 31.02 |
ZIG 35.58 |
ZIG 26.79 |
ZIG 0.67 |
| 04/08/2025 |
Website would not open on Saturday |
Note: For previous rates, see HERE
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (08 August 2025) – The current average hide price decreased by 0.03% to R2.4682/kg from R2.4689/kg a week ago. The current price is 0.18% lower than the average price a month ago and was 10% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R2.00 Maximum price: R2.88. Please note: Our methodology weighs the prices we collect according to the number of hides they sell in a month. This is done to make it more representative of the prevailing market price. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. - Marlene Louw, senior agricultural economist, Nkhensani Mashimbyi, agricultural economist, and Zama Sangweni, agricultural economist, ABSA group.
Note: For previous prices, see HERE
Have a look at these links
We invite businesses to send us links to websites, Facebook pages and the like which they feel would be of interest to others. The links below are from our database:
His Place Men’s Boutique, Port Shepstone, KZN, SA. Men’s apparel retailer.
Hitech Chemicals cc, Durban, KZN, SA. Adhesive manufacturer.
THIS WEEK LAST YEAR!
Trading conditions: Signs of late upswing
Temu/Shein small parcels: SARS ruling will disappoint CTFL sector
READ IT HERE - S&V Weekly Newsletter Vol.10 No.33, August 12 2024
THIS WEEK FIVE YEARS AGO!!
Busby in voluntary business rescue, expects quick turnaround
Retail
- Botswana: Second lockdown
- Lesotho: Reducing risk
- Namibia: Focussing on fewer brands
- South Africa: Benefitting from payouts
- South Africa: Lower profits, more volume
Mr Tekkie expanding
Think! Shoes for sale
Manufacturing
- School shoe factory to reopen
- Small factory planned for Kimberley
Stock Exchange News Service (SENS)
- Pepkor to dispose of building division
READ IT HERE - S&V Weekly Newsletter Vol.6 No.32, Aug 11, 2020
NEWSLETTER ARCHIVE
All the past S&V Weekly Newsletters from January 2016 onwards are available in the newsletter archive.
VIEW THE ARCHIVE - CLICK HERE
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: Monday 18 August, 2025. Ad and editorial deadline Friday 15 August.
SAFLIA enquiries: Tel 0800SAFLIA * Email info@saflia.co.za * Website http://www.saflia.co.za
Our website www.svmag.co.za
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