Academy Sports Trims Full-Year Outlook On Q1 Shortfall
Academy Sports and Outdoors, Inc. slightly reduced its guidance for the year after reporting results for the first quarter ended April 29 missed plan although the sporting goods chains predicted sales would improve in the back half of the year.
G-III Apparel Lifts 2023 Outlook On Strong First Quarter
G-III Apparel Group, Ltd. raised its outlook for sales and earnings for the year after reporting first-quarter results came in well above its guidance. The company also announced a new long-term license for the Halston brand.
VF Corp. Launches Operations At New Ontario, CA Distribution Center
VF Corp. started operations at its new distribution center in Ontario, CA, employing approximately 550 people during peak periods. The company said the new 1.2 million-square-foot facility is the largest and most efficient within its global network of 46 distribution centers.
New Balance Breaks Ground On Maine Factory Expansion
New Balance broke ground to expand its athletic footwear manufacturing factory in Skowhegan, ME. The $65 million, 120,000-square-foot single-story addition, scheduled to be completed by the end of 2024, will add 200 jobs and double the factory’s production capabilities.
Icebreaker’s North America GM Adds Smartwool Responsibility For Region
Smartwool and Icebreaker reported that Icebreaker’s general manager for North America, Noah Bryan, will assume responsibility for Smartwool’s North America region as well, effective immediately.
Mountain Khakis Hires New Sales Director
With 20-plus years of experience in sales and retail roles, Mountain Khakis hired Justin Julian as sales director.
Nike Opens A Nike Live Location In Kentucky
Nike opened a Nike Live store at the Oxmoor Center, a shopping mall in Louisville, KY. Dubbed “Nike by Louisville,” the 4,900-square-foot space sits between Dick’s Sporting Goods and Von Maur department store.
SGB Media Reports Top 25 Most-Read Articles For May 2023
SGB Media’s Top 25 most-read articles for May 2023 include the unfortunate news about an industry leader passing away; staff cuts at various companies; a lawsuit against former employees; tough Q1 results amid heavy inventories for both brands and retailers; and several reports covering the Adidas x Yeezy debacle. On the upside, the top stories SGB Media covered for the month included…
Saks Survey: Luxury Spending Shifts To Travel, Savings
Saks’ latest Luxury Pulse Survey*, fielded in late April and early May, found that respondents were concerned (60 percent) about the overall economy but optimistic (67 percent) about their financial situation. Compared to the retailer’s last survey in late January, spending on luxury goods decelerated as consumers focused more on savings and travel.
Mark Nenow Resigns As President Of Sorel Brand
Columbia Sportswear Company announced that Mark Nenow, president of the Sorel brand, has resigned to focus on his health.
NRF: Consumers To Spend Record Amount For Father’s Day
Consumers will collectively spend a record-high $22.9 billion to celebrate Father’s Day this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. The total expected spending for the holiday is up 14.5 percent from last year’s $20 billion and exceeds the previous record of $20.1 billion in 2021.
Patagonia Settles Trademark Lawsuit Against Gap
Patagonia settled its lawsuit accusing Gap, Inc of illegally copying its longstanding Snap-T fleece design.
Mountain Hardwear Appoints VP Of Marketing
Mountain Hardwear promoted Matt Burbach to vice president of marketing. Burbach has been the company’s global marketing director for the past two years.
Costco U.S. Non-Fuel Comp Store Sales Up 1.7 Percent In May; E-commerce Falls
Costco Wholesale Corporation reported net sales of $18.45 billion for the retail month of May, the four weeks ended May 28, 2023, an increase of 1.2 percent from $18.23 billion last year.
Nike Apparel To Return To Macy’s
On its first-quarter analyst call, Macy’s confirmed that Nike apparel would return to its selling floors. Nike ended distribution to the department store in 2021.
