Arc’teryx Veteran Joins Sugarhouse Creative
Sugarhouse Creative hired Dan Green, a former VP of design and senior director of advanced concepts at Arc’teryx, as director of advanced concepts, a new role for the company.
Rally House Adds Stores in Detroit and Kansas City
Rally House announced it opened new stores in northern Detroit and Kansas City. Rally House operates over 180 stores across 18 states in the U.S.
United Sports Brands Acquired by Norwest Equity Partners
Norwest Equity Partners (NEP) has acquired United Sports Brands, the parent of Shock Doctor, McDavid, Cutters, Nathan, Pearl Izumi, and Glukos, from Bregal Partners. NEP’s history with USB brands dates to 2008, when it acquired Shock Doctor as part of its consumer products portfolio.
Backcountry Sells Bergfreunde European Subsidiary
Backcountry reported it entered into a definitive agreement to sell its European subsidiary, Bergfreunde, to Decathlon, the largest sporting goods retailer in the world.
Report: Black Friday Traffic Sees Uptick
Sensormatic Solutions released its initial shopper visit data for U.S. brick-and-mortar stores and shopping centers for Black Friday, November 24, noting that foot traffic increased 4.6 percent compared to 2022.
Report: U.S. Black Friday Retail Sales Up Modestly
According to Mastercard SpendingPulse, retail sales grew 2.5 percent year-over-year on Black Friday, slowing as expected from a gain of 12 percent on the same day a year ago.
Report: Black Friday Sees Record Online Spending
According to Adobe Analytics, a record $9.8 billion was spent online in the U.S. for Black Friday, up 7.5 percent year-over-year (YoY). Adobe had estimated this year’s Black Friday sales at $9.6 billion.
Puma Appoints GM for Puma Japan
Puma hired Ryokusai Inoue as general manager of Puma Japan, effective immediately. He replaces Kohei Hagio, who has held the position since 2021.
Wolverine World Wide Sees Debt Ratings Downgraded
Moody’s downgraded Wolverine World Wide, Inc.’s debt ratings to reflect Wolverine’s “ongoing steep revenue and earnings declines and Moody’s expectations that the challenging retail environment will hinder the company’s ability to realize significant near-term benefits from its turnaround efforts.”
Fanatics Commerce’s Debt Ratings Downgraded to Negative
Moody’s Investors Service downgraded Fanatics Commerce’s debt rating to reflect the online fan website’s “significantly weaker than expected earnings and cash flow and the risk that the increasingly difficult operating environment will challenge its ability to achieve the appropriate level of returns on its current investments and return EBITDA and EBITDA margins back to their previous levels.”
Nordstrom’s Sales Led by Active in Third Quarter
Nordstrom reported slightly higher earnings in the third quarter on improving gross margins. Sales were down 6.8 percent with sales slumping 9.4 percent at the Nordstrom flagship banner and declining 1.8 percent at Nordstrom Rack.
Urban Outfitter’s Profits Soar in Third Quarter
Profits at Urban Outfitters surged 123 percent in the third quarter as sales grew 9 percent. Retail segment comps advanced 5.6 percent as gains of 22.5 percent at Free People and 13.2 percent at Anthropologie offset a 14.2 percent decline at the Urban Outfitters banner.
EXEC: Wall Street Reacts to Strong Q3 for Dick’s and Hibbett
The third-quarter earnings beats and raised guidance for both Dick’s Sporting Goods and Hibbett increased investor confidence that the athletic retail space is positioned to at least outperform the broader retail sector in a challenging marketplace, although some analysts were concerned about margin pressures at Dick’s.
Reima USA Expands Indie Sales Rep Team
Reima USA hired Kerry O Sales to its independent sales rep network, marking a “significant step” in growing its U.S. business.
Free Fly Welcomes Christa Funk to Ambassador Team
Free Fly, a performance apparel brand, added Christa Funk to its growing ambassador team. Through her photography, Funk is known for capturing the waves, surf breaks and moments in big wave surfing.
