Adidas Ups Full-Year Guidance After Prelim Q2 Results Show Yeezy Sales Bump
Adidas now expects currency-neutral revenues to decline mid-single-digits in 2023, compared to prior guidance of a high-single-digit decline. Adi now expects to report an operating loss of €450 million in 2023 compared to the previously guided loss of €700 million.
Asics North America Names VP of U.S. Sales
Asics North America hired industry veteran Michael Dougherty as vice president of U.S. sales, effective immediately. He has over 15 years of global footwear industry experience, including at Clarks and New Balance.
Columbia Sportswear Company Hires Director of Strategic Accounts
Columbia Sportswear Company hired long-time Reebok and Adidas sales pro Dave Stellick as director of strategic accounts.
Adidas Outdoor North America GM Departs
Michael Kadous, North America’s senior director and GM for Adidas Outdoor, Terrex and Five Ten since March 2019, exited the brand.
Mountain Khakis Adds New Midwest Sales Agency
Mountain Khakis hired Ben Kiffmeyer and Round Lake Sales as its sales agency covering the Midwest region.
Gap, Inc. Appoints New Athleta CEO
Gap, Inc. hired Chris Blakeslee as president and CEO of Athleta, effective August 7. Most recently, he was president of sister companies Alo Yoga and Bella+Canvas since 2017.
Fenix Outdoor Posts Q2 Sales and Profit Declines on Retail Inventory Issues
Sales declined 6.5 percent in what the company described as a “very challenging” quarter. Fenix is the latest to attribute sales decreases to the over-inventory position of outdoor products at retail and the retailers’ inability to refill their inventory as needed.
Report: Adidas Seeing Healthy Demand for Unsold Yeezy Product
Adidas has orders worth more than €508 million ($565 million) for 4 million pairs of unsold Yeezy shoes, exceeding the company’s “most optimistic forecast,” according to a new Financial Times report. Healthy demand for the first batch of online sales could help Adidas avoid a major write-down on its remaining stock.
Golf Rounds Played Climb in June
Rounds of golf played advanced 5.5 percent in June and are running up the same 5.5 percent for the first six months of 2023, according to Golf Datatech.
Duluth Holdings Adds Board Member
Duluth Holdings, Inc., doing business as Duluth Trading Company, announced the appointment of Janet H. Kennedy to its Board of Directors, effective August 23, 2023. Most recently, Kennedy served as VP, North America Regions of Google Cloud at Alphabet, Inc.
Report: Adidas Accuses Kanye West of Mishandling $75 Million of Marketing Funds
Adidas is seeking to recover $75 million from Ye, formerly Kanye West, related to his alleged mishandling of marketing funds worth $100 million annually, according to Bloomberg. The dispute is in arbitration.
Canada’s Port Workers Union Recommends Labor Agreement to Members
The International Longshore and Warehouse Union Canada (ILWU Canada) plans to recommend members accept a tentative agreement to end the weeks-long strike at British Columbia’s ports, likely ending a standoff that led to a 13-day strike.
RILA Calls Potential UPS Strike “Kryptonite” for Supply Chains
The Retail Industry Leaders Association (RILA) urged a quick resolution of the stalled contract negotiations between UPS and its 340,000 workers represented by the International Brotherhood of Teamsters, describing a potential UPS strike as “kryptonite for supply chains.”
Carhartt Rolls Out Resale Program in Physical Stores
Workwear brand Carhartt expanded its resale program to all 35 owned-retail stores following the success of its pilot project at six stores.
Under Armour Opens Fourth Brand House In London
Under Armour opened a Brand House store on Oxford Street, marking its fourth store in London. Zara, the multi-national retail clothing chain, once occupied the space.
