Canada Ports’ Wage Agreement Rejected, Strike Threat Continues
Canada’s west coast ports’ dockworkers’ union voted against the federal mediator’s “recommended terms of settlement” for the contested collective bargaining agreement, threatening to again shut down British Columbia’s ports.
Life Time Partners with Australian Activewear Brand LSKD
Life Time signed an agreement with LSKD, the Australian activewear company, to outfit its nearly 5,000 female coaches, instructors and trainers across its more than 165 athletic country clubs in North America. It has a similar agreement with Ten Thousand as the exclusive men’s fitness training apparel brand.
EXEC: Nike Hit by Lawsuit Over Pocket Bras
Nike is facing a lawsuit in Boston Federal Court by an inventor who claims the sportswear giant stole her technology for a line of sports bras with pockets. In court papers, SherryWear, LLC said that its founder, Sherry Goff, first pitched her patented Pocket Bra to Nike in 2015.
VF Corp. Names New VP/GM For Vans EMEA Region
VF Corp. promoted Andreas Olsson to VP/GM of Vans EMEA, effective July 17. Olsson had been the VP of sales at Vans for the EMEA region.
True Religion Appoints Pac Sun Marketing Vet as Chief Marketing Officer
True Religion hired Kristen D’Arcy as chief marketing officer, a newly-created role at the company, reporting to CEO Michael Buckley. The position was reported to be an instrumental component in True Religion’s future growth strategy.
Play It Again Sports’ Parent Sees Q2 Profits Improve Sharply
Winmark Corp., the parent of Play It Again Sports, reported earnings improved 14.9 percent in the second quarter ended July 1.
U.S. Trade Activity Rebounds But Global Trend Continues to Weaken
Volume of new orders and invoices exchanged between U.S. buyers and their suppliers grew at 3 points above its expected range in Q2, recovering from a level 6 points below the baseline in the previous two quarters.
Fashion Brand Styched Acquires India Sneaker Startup Flatheads
Styched, an online apparel brand based in India and founded in 2019, acquired Flatheads, a direct-to-customer (DTC) online casual sneaker start-up that gained attention after appearing in season two of Shark Tank India.
South Korean Fashion E-tailer Musinsa Nets $190 Million Funding Round
Musinsa, an online fashion platform in South Korea, raised a $190 million round of Series C funding led by KKR, with participation from Wellington Management.
EXEC: Anta Sports Sees Retail Sales Accelerate in Q2; Fila Up in High-Teens
Anta brand retail sales increased in high-single-digits in Q2, while Fila brand sales increased in the high teens. The All Other Brands segment posted 70 percent to 75 percent growth in the period.
Retail Sales Up Again in June Despite Slower Job Growth
The U.S. Census Bureau is reporting overall retail sales in June were up 0.2 percent from May and up 1.5 percent year-over-year (YoY). Sporting goods stores were down 1 percent MoM seasonally adjusted and down 0.9 percent unadjusted YoY.
Academy Is Opening Two More Stores In Central Texas In F23
Academy Sports and Outdoors, Inc. reported it will open two new stores in Central Texas this fall in Brenham and Kyle, respectively and is on track to open 13-to-15 stores in 2023, with the goal of opening 120-to-140 new stores by the end of 2027.
EXEC: Lululemon Lays Off 100 Employees at Mirror Business
Lululemon confirmed with SGB Media reports that it has laid off 100 employees from Lululemon Studio, which represents its Mirror connected fitness business. In mid-April, reports arrived that Lululemon was working with an advisor to explore the sale of Mirror.
Next Level Apparel Appoints New VP of Marketing
Next Level Apparel appointed Torin Rea as vice president of marketing to drive brand awareness and develop growth strategies for the brand.
Wolverine World Wide, Inc.’s Debt Ratings Outlook Lowered
S&P Global Ratings revised its outlook on Wolverine World Wide Inc. due to the footwear company’s recent underperformance and challenging conditions going forward.
