Cordura Brand Appoints European Business Development Manager
Invista’s Cordura brand hired Ruud Vermeij as European business development manager for the Cordura brand, responsible for developing and executing the commercial strategy for growing its consumer business in Europe.
Topgolf Callaway Gets Double-Digit Q2 Lift from Topgolf; Callaway Flat
The revenue increase was said to be driven by strong 16.6 percent growth at Topgolf, including approximately 1 percent same-venue sales growth.The result came despite an $8.0 million negative impact from FX rate variances.
EXEC: Under Armour Reduces North America Guidance on Wholesale Softness
Under Armour reported results for the fiscal first quarter ended June 30 came in line with expectations amid progress reducing inventory levels while reiterating its overall guidance for the year. However, sales guidance was reduced for North America as the brand was unable to overcome due to stubborn challenges at U.S. wholesale.
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.
