JD Sports Acquires Balance of Shares in Poland-Based Sports Retailer
JD exercised its rights under a call option to acquire the outstanding 40 percent minority stake of Marketing Investment Group S.A. (MIG) to become MIG’s 100 percent sole owner.
Report: Small Businesses Report Significant Hiring Decline in July
The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted decrease of 2.1 percent in July. This month’s reading is a dramatic reversal from the strong hiring reported in June.
EXEC: Mizuno Posts Strong Fiscal Q1 Results; Footwear Jumps 46 Percent
The company reported sales grew in strong double-digits in the fiscal first quarter ended June 30, driven by double-digit growth across all categories. The Japan-based company is maintaining its forecast for sales of ¥225 billion in fiscal full-year 2023.
Hanesbrands Faces Activist Investor Calling for Leadership Changes
Barington Capital, an activist shareholder group, issued a letter calling for changes in the Board of Directors of Hanesbrands, possibly the CEO and other operational changes to reduce debt. In response, Hanesbrands highlighted progress under its Full Potential strategy and said it remains committed to driving shareholder value.
EXEC: Asics Corp. Increases Full-Year Guidance on Strong H1 Results
For the first half ended June 30, net sales were ¥290.0 billion, recording the highest for the six month period and increased year-over-year in all regions and categories.
EXEC: Black Diamond Sales Thwarted By Weak Open-To-Buy Orders
Black Diamond’s sales fell 23.7 percent in the second quarter due to a combination of lower consumer demand and continued lower open-to-buys as its primary North American wholesale partners work down inventory levels, according to its parent Clarus Corp. Company officials see improvement but do not expect marketplace inventories to rebalance until year-end.
Under Armour Limits Fiscal Q1 Downside with Strong International Growth
Total net revenue was down 2.4 percent (-1.3 percent currency-neutral) year-over-year to $1.32 billion in the fiscal first quarter ended June 30. Wholesale revenues declined 6.3 percent while DTC increased 4.5 percent.
NRF Sees Cargo Volume Hitting Yearly Peak in August
Import cargo volume at the nation’s major container ports is forecasted to hit its highest level in nearly a year in August as retailers stock up for the winter holidays, according to Global Port Tracker’s report released by the National Retail Federation.
Equip Names New Sales VP for Rab and Lowe Alpine
Rab and Lowe Alpine has named Ross Herr to the company’s new position of VP of U.S. Sales, putting a proven industry veteran in charge of the sales direction for both brands in the United States.
Quicksilver’s Global General Manager Resigns at Boardriders
Brad Blankinship, Quiksilver’s general manager since November 2021, confirmed on LinkedIn reports that he had resigned from the company.
Topo Designs Names New CEO
Topo Designs, the Colorado-based outdoor brand, promoted Matt Williams, effective immediately, to CEO. Previously Williams was the company’s chief operating officer. He succeeds Co-Founder Mark Hansen, who is retaining his seat on Topo Designs’ Board of Directors.
Nordstrom Rack to Open Store in Queen Creek, AZ
Nordstrom, Inc. plans to open a new Nordstrom Rack in spring 2024 in Queen Creek, AZ. Nordstrom Rack is the off-price retail division of Nordstrom, Inc.
EXEC: Analysts Gaining Confidence in Adidas’ Turnaround
While some still see an uphill battle for Adidas to regain share in the competitive landscape, the majority of analysts covering the stock were encouraged by the progress the company made in the second quarter toward a turnaround, including building momentum in its underlying business on the back of the “terrace” trend.
Rally House Opens Seven Stores in Record-Breaking Weekend
Rally House opened seven stores in five states over the weekend, marking the first time in the retailer’s history to open that number of doors in one weekend.
NRF Launches Center for Digital Risk and Innovation
The Center is expected to serve as the focal point for NRF’s engagement on technology issues that have significant policy and risk management implications for the global retail industry.
