Champion to Open Store in Winston-Salem
Champion plans to open a full-price store in Winston-Salem—the first for the brand in North Carolina.
NRF Now Sees 2023 Retail Sales at Low End of Earlier Forecast
The March forecast called for 2023 retail sales to increase between 4 percent and 6 percent over 2022; however, the Fed’s interest rate increases slowed the economy and the NRF believes there is a good chance that sales will end up in the lower range of the forecast, if not lower.
NRF: Import Cargo Volume Could Hit 2 Million TEU Three Months in a Row
Import cargo volume at the nation’s major container ports is expected to hit the 2 million Twenty-Foot Equivalent Unit (TEU) mark for the second consecutive month in September and remain there in October.
Li & Fung’s Debt Outlook Lowered by Moody’s and S&P
Moody’s Investors Service and S&P Global Ratings both lowered their debt ratings outlooks on Li & Fung to negative from stable due to Hong-Kong-based sourcing giant’s deteriorating performance in recent quarters and challenged recovery prospects.
Saucony Names New VP of U.S. Sales
Saucony, a division of Wolverine Worldwide, Inc., appointed Chris Deschenes as vice president of U.S. sales. Most recently, he was the vice president of sales for the company’s Wolverine Kids Group.
VF Corp. Loses Appeal On Tax Dispute Tied to Timberland Acquisition
VF reported in a regulatory filing that The U.S. Court of Appeals for the First Circuit decided in favor of the IRS in a tax issue connected to its acquisition of Timberland in September 2011.
Yue Yuen Sees Another Sharp Footwear Manufacturing Sales Decline in August
The manufacturer of footwear for most major outdoor and athletic brands, reported that in August, net consolidated operating revenue, declined 19.8 percent after posting a 106 percent increase in the prior-year month.
Foot Locker’s Debt Ratings Downgraded by Moody’s
Moody’s Investors Service downgraded Foot Locker, Inc.’s debt ratings, reflecting Moody’s view that Foot Locker’s earnings and cash flow are likely to remain pressured for an extended period, given the execution risk associated with implementing its Lace Up plan transformation initiatives in a challenging consumer spending environment.
Nike to Permanently Close NE Portland Store Following High Theft
Nike has decided not to re-open its factory store in Portland, OR, which it closed temporarily last fall due to theft and safety issues
Mark’s Rolls Out Two New Workwear Retail Formats in Canada
Mark’s, the Canadian retailer owned by Canadian Tire and sister company to SportChek, Sports Experts, Pro Hockey Life, and Helly Hansen, introduced two new industrial-exclusive retail stores—Mark’s WorkPro and L’Equipeur Pro.
Report: New Era Preparing for Initial Public Offering
New Era Cap, LLC is reportedly talking to law firms and investment banks as part of a plan to go public next year. The IPO comes after fourth-generation company leader Chris Koch stepped down last fall from daily operations as private equity firms bought a significant stake in the headwear manufacturer.
Cotopaxi Taps Two Outdoor Industry Sales Vets to Drive Wholesale Sales
Joining the team in August are Jody Carlson as VP of global wholesale and Kari Larsen as director of North American wholesale.
Canterbury Renews Contract with Irish Rugby Team
Canterbury agreed a four-year extension to its deal as the official kit partner with the Irish Rugby Football Union (IRFU).
EXEC: G-III Apparel Sees Champion Outerwear Extending Reach to Athletic Channels
On the company’s second-quarter analyst call, Morris Goldfarb, G-III Apparel’s longtime chairman and CEO, said he sees G-III’s new multi-year license to produce outerwear under the Champion brand presenting opportunities to reach Dick’s Sporting Goods, Foot Locker and other athletic retailers.
EXEC: Zumiez Hopeful for Holiday Selling After Q2 Beat and BTS Momentum
Zumiez, Inc. reported better-than-expected Q2 results with sales declines lessening further into the third quarter, including men’s, its largest category, turning positive. The action sports chain predicted another high-single to low-double-digit decline for the third quarter but remains hopeful of continued improvement through holiday selling.
