Men’s Activewear Brand Ten Thousand Raises $21.5M
Ten Thousand, the men’s activewear brand based in Manhattan, reported it secured $21.5 million in a funding round led by Provenance, a Beverly Hills-based firm that invests in direct-to-consumer companies.
U.S. Consumer Sentiment Rises To Four-Month High
Consumer sentiment jumped 7.9 percent month-to-month to 63.9, in the first two weeks of June, reaching its highest level in four months, according to preliminary data from the University of Michigan survey of consumers.
Globe Intl. Appoints Surf/Beach Lifestyle Vet As New Board Chair
Globe International Ltd. appointed Harry Hodge as non-executive director and chair of the company’s Board of Directors. William Crothers resigned as chair and director of the Board of Directors after a three-year term, effective immediately.
Asics Invests In Virtual Reality Exercise
Asics Corp. announced that its investment subsidiary, Asics Ventures Corp., had invested in Valkyrie Industries, Ltd., a London-based startup that combines virtual reality with electrical muscle stimulation. The funding amount was undisclosed.
New Balance To Build Plant In Londonderry
New Balance plans to build a manufacturing plant near the Manchester-Boston Regional Airport in Londonderry, NH; this is the company’s sixth factory in the U.S. The others are in Maine and Massachusetts.
NRF Foundation Adds Four Members To Board Of Directors
The NRF Foundation reported adding four new members to its Board of Directors, elected during the organization’s summer board meeting in New York City.
Walmart Opens Its Largest Fulfillment Center Outside Indianapolis
Walmart celebrated the grand opening of a new 2.2 million-square-foot fulfillment center twenty miles northeast of Indianapolis in McCordsville, IN. The next-gen facility is Walmart’s largest fulfillment center to date and enable the retailer to fill orders more quickly.
Outdoor Product Sales A Reflection Of Shifting Post-Pandemic Lifestyle Trends
Sales across the $28 billion U.S. outdoor industry declined by 1 percent in the 12 months ending April 2023, versus the comparable prior-year period, impacted by consumers spending less on big-ticket equipment items and instead buying backpacks, blankets, camping accessories, and other versatile products.
Retail Market Breathes A Sigh Of Relief As West Coast Ports Deal Reached
The Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) announced a tentative agreement on a new six-year contract covering workers at all 29 West Coast ports.
Retail Sales See Slight Uptick In May; Sporting Goods Stores Up 2.5 Percent
Retail sales increased 0.3 percent from April to May and gained 1.6 percent year-over-year. Economists polled by Reuters had forecast sales would decline 0.1 percent month-over-month.
Sport 2000 Reaches €6.5 Bn In 2022 Sales; SGN Sports Leaving Group
Sport 2000 International, the world’s second-largest trade organization for independent sports retailers with 3,586 stores in 25 countries, recently reported it is reflecting on a successful year, closing the 2022 financial year with gross retail sales of €6.5 billion.
Google Introduces Virtual Try-On Using Generative AI
Google introduced a generative AI-powered virtual try-on option for shoppers searching for apparel online using digital models to represent an individual’s body type.
REI Workers Union Adding Pressure With Unfair Labor Practice Allegations
The Retail, Wholesale and Department Store Union (RWDSU) announced it would be filing Unfair Labor Practice charges (ULPs) against REI, Inc. in the Cleveland (Beachwood, OH) and SoHo (Manhattan, NY) unionized stores.
Grassroots Moving Spring Connect Show To Reno In 2024
Grassroots Connect, the twice-annual retail buying show of Grassroots Outdoor Alliance, will move its June show to Reno, NV, beginning in 2024.
REI To Open Re/Supply Store In Clackamas, OR This Summer
REI Co-op will open a Re/Supply store selling used gear and apparel in Clackamas, OR in late August 2023. Located in the Clackamas Town Center, the 16,113-square-foot store will open a few doors down from the co-op’s existing store which opened in 2007.
