Kith To Open First Store in Toronto
Kith will officially open its first store in Toronto, and its first in Canada, on September 22.
Saks Survey Indicates Early Signs of Luxury Spending Rebound
Saks’ latest Saks Luxury Pulse survey, fielded in late July, found that 58 percent of luxury consumers plan to spend the same or more on luxury in the next three months. This is an increase from 53 percent in the prior Saks Luxury Pulse fielded in late April, and represents the first increase in luxury spending plans since the survey began tracking this in May 2022.
EXEC: KMD Sees Rip Curl Post Solid FY Growth while Oboz Sales Jump 62 Percent
The parent company to the Rip Curl, Oboz and Kathmandu brands reported it had achieved record sales of over NZ$1.1 billion dollars in the fiscal year ended July 31, its first year of uninterrupted trade post-pandemic.
Mastercard: U.S. Holiday Retail Sales Expected to Grow 3.7 Percent
Mastercard SpendingPulse said sales are expected to rise 6.7 percent online and 2.9 in-store for the period November 1 through December 24, with the biggest gain iexpected to come in electronics with a 6 percent increase.
Authentic Brands’ Debt Ratings Upgraded by Moody’s
Moody’s Investors Service upgraded the debt ratings of Authentic Brands Group to reflect the conglomerate’s “solid” operating performance, increasing scale benefits and improving debt leverage.
EXEC: HSBC is Bullish on Adidas, Lululemon and Puma; Still Holds on Nike
In a bullish report, HSBC said that despite tough conditions expected to continue in the U.S., sales growth and margins should improve for the global sporting goods sector following its “post-pandemic hangover.” Beneficiaries include Adidas, Lululemon and Puma, all rated “Buys” by HSBC while Nike remains at “Hold” due to its U.S. exposure.
DTLR Names New CEO, Opens Next Gen Flagship
DTLR, acquired by JD Sports in May 2021, named Todd Kirssin as CEO while also opening its “Next Gen” retail concept.
Sportsman’s Warehouse Appoints New Board Member
Steven Sansom is a corporate executive with over 30 years of experience in high-growth businesses. He has served as founder and chairman of Steel Grove Capital Advisors and Steel Grove Family Office in Memphis, TN since September 2001.
HanesBrands Looking at Strategic Alternatives for Global Champion Business
The Board said it would consider a broad range of alternatives to maximize shareholder value, including, among others, a potential sale or other strategic transaction, including continuing to operate the business as part of HanesBrands.
Academy Sports + Outdoors Opens First Store in Kyle, TX
The new location marks the fifth store Academy has opened in 2023 as Academy looks to achieve its goal of opening a total of 120 to 140 new stores by the end of 2027.
Arizona’s Lewis & Clark Outfitters Closes
Lewis & Clark Outfitters, a bike and outdoor store, closed in Springdale, AZ after 23 years in business
NRF to Present Dick’s SG Chairman Ed Stack with The Visionary Award
Presented annually to an outstanding retail leader, the 2023 NRF Visionary Award honors Stack for his leadership of the largest omnichannel sporting goods retailer in the U.S., guiding the company’s evolution from two stores in upstate New York to a Fortune 500 company.
VF’s Outlook Changed to Negative by Moody’s
Moody’s Investors Service changed VF Corporation’s outlook to negative from stable, reflecting the effects of the unfavorable tax appeal ruling related to the company’s Timberland acquisition in 2011 and the continued risk associated with the turnaround of Vans.
Academy Sports Principal Accounting Officer to Depart
Academy Sports and Outdoors, Inc. said in a regulatory filing that Heather Davis, SVP, accounting, treasury and tax (principal accounting officer) is leaving the company to pursue a new opportunity, effective September 29.
Rossignol Continues To Grow Nordic Division
Rossignol Group promoted Jeff Courter, previous Nordic category manager for North America, to global technical product manager for the Nordic division as part of a number of promotions and additions to the division.
