Gabriel Brothers Opens Largest Company DC In Ohio
Gabriel Brothers, Inc. announced the grand opening of its largest distribution center in Springfield, OH, with over 870,000 square feet.
Wolverine Rolling Sweaty Betty Into International Group; CEO to Depart
Wolverine World Wide, Inc. reported it intends to improve operating performance, fuel global growth and enable future investments into Sweaty Betty, the women’s activewear brand it acquired in August 2021.
NRF Forecasts Mid-Single-Digit Retail Sales Growth In 2023
The National Retail Federation issued its annual forecast today, anticipating that retail sales will grow between 4 percent and 6 percent in 2023. In total, NRF projects that retail sales will reach between $5.13 trillion and $5.23 trillion in 2023.
Helinox Opens Second Creative Center In Busan, South Korea
Helinox, the manufacturer of lightweight, portable furniture for outdoor use, recently opened its second multi-story Helinox Creative Center Busan (HCC Busan). Busan is the second largest city in South Korea know for urban design and outdoor escapes.
Dick’s SG To Open Store In Minnesota’s Rosedale Center
Dick’s Sporting Goods is opening an 80,000-square-foot store at Minnesota’s Rosedale Center. Poag Development Group, overseeing the construction of the store, formerly occupied by a Herberger, reported the news in a press release.
Outerstuff’s Debt Ratings Downgrade On Potential Default
S&P Global Ratings downgraded the debt ratings of Outerstuff LLC on an increasing likelihood of a default.
Adidas Retracts Opposition To BLM Trademark Application
Adidas AG, on Wednesday, reversed course 48 hours after asking the U.S. Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes, according to Reuters.
Goldtoe Socks Launches Sock Recycling Program
Goldtoe Socks is rolling out a free sock recycling program in partnership with TerraCycle. The program will offer consumers an easy way to recycle used socks from any brand to manufacture new socks.
Macy’s To Transition Chairman And CEO Role
Macy’s, Inc. Chairman and CEO Jeff Gennette plans to retire in February 2024 after serving the company for 40 years.
TJX Increases Dividend By 13 Percent
TJX Companies, Inc. announced that its Board of Directors had raised the amount of its quarterly dividend by 13 percent from the last dividend paid.
Compass Diversified Re-Works Board As Sally McCoy Plans Departure
Compass Diversified (CODI), owner of Velocity Outdoor, BOA, Marucci, Primaloft, 5.11, and other businesses in the active lifestyle space, announced that its Board of Directors had nominated a new director candidate for election at its 2023 Annual Meeting of Shareholders on May 25.
Lululemon’s Q4 Profits Drop On Mirror Impairment Charge
Lululemon Athletica Inc. reported a sharp decline in earnings for the fourth quarter due to an impairment charge of $442.7 million related to its Mirror connected-fitness business. Earnings on an adjusted basis grew 31 percent as comparable-store sales jumped 27 percent, topping analyst targets.
Burberry To Acquire Technical Outerwear Factory
Burberry announced plans to acquire a specialist technical outerwear factory from Pattern SpA, a longtime supplier whose business activities include engineering and production of luxury garments. The purchase price is €21 million ($23 mm).
Survey Says Consumer Interest In Sustainable Products/Practices Remains High
According to a survey of more than 1,000 U.S. consumers conducted by supply chain technology company Blue Yonder, nearly half of all respondents reported increased interest in eco-conscious habits over the past year; however, they remain wary of corporate sustainability claims.
The Pro’s Closet Rebrands As TPC
The Pro’s Closet, the certified pre-owned bike dealer, rebranded as TPC.
