Wolverine’s Debt Ratings Outlook Downgraded To Negative
Moody’s Investors Service changed Wolverine World Wide, Inc.’s debt-ratings outlook to negative from stable. The change in outlook to negative from stable reflects the risk that leverage may remain elevated for a prolonged period given the more promotional retail environment, lower consumer discretionary spending, and unfavorable foreign currency trends.
Callaway Golf Extends Partnership With FCG Tour
Callaway Golf extended its sponsorship with the Future Champions Golf (FCG) Tour for its 2023 tournament program.
Urban Outfitters President Exits
Urban Outfitters, Inc. reported that Francis Pierrel, president, Urban Outfitters Group, had left the company.
Salt Life To Open New Doors
Delta Apparel, Inc. reported plans to open four Salt Life stores in early 2023. In Florida, Salt Life Pembroke Pines will open in January 2023, with Salt Life Pompano Beach and Salt Life Viera following shortly after that. In New Jersey, Salt Life Long Branch will open in the early spring of 2023.
ICSC Report: 78 Percent Of Consumers Shopped Thanksgiving Holiday Weekend
According to the ICSC Post-Thanksgiving Weekend Report, 75 percent of U.S. adults, 201.5 million, shopped or spent money during the five days beginning on Thanksgiving and ending Cyber Monday.
Record 196.7 Million Consumers Shop Over Thanksgiving Holiday Weekend
A record 196.7 million Americans shopped in stores and online during the five-day holiday shopping period from Thanksgiving Day through Cyber Monday, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.
Dick’s Sporting Goods Names EVP Of Stores
Dick’s Sporting Goods reported it hired Ray Sliva as executive vice president, stores, effective January 3, 2023. Most recently, Sliva was as Best Buy’s chief people officer.
Outdoor Research Hires Vice President, E-commerce
Outdoor Research hired Sarah Seifert as VP of E-commerce, effective immediately. Seifert brings more than a decade of leadership in e-commerce and digital marketing with an extensive background in outdoor recreation markets.
Ibex Extends Sales Representation Across Pacific Northwest And Central U.S.
Ibex reported that it hired PlayNorthwest to represent the brand in the Pacific Northwest, while Split Rock Sales will cover the Central U.S.
NRF Reports GDP Growth Has Slowed But Consumer Spending Remains Strong
The National Retail Federation’s (NRF) Chief Economist, Jack Kleinhenz, reported that the GDP is not likely to grow as much in the final months of 2022 as it did in the third quarter, but consumer spending should remain strong even though the rapid pace continues to slow.
Tilly’s Q3 Results Top Expectations
Tilly’s Inc. reported sales declined 13.7 percent in the third quarter ended October 29 with earnings falling further, but overall results exceeded company guidance.
Zumiez Tops Guidance In Third Quarter
Zumiez Inc. reported earnings and sales were down year-over-year in the third quarter ended October 29, but came in better than company guidance
The Buckle Delivers Flat Comps In November
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended November 26, 2022, decreased 0.3 percent from comparable store net sales for the 4-week period ended November 27, 2021.
Duluth Reduces FY Guidance On Inflationary Pressures
Duluth Holdings, Inc, the parent of Duluth Trading, reported a steeper loss than expected in the third quarter ended October 30 and reduced its guidance for the year as markdowns were used to clear slow-selling merchandise in the latest quarter. Sales in the period were up 1.3 percent.
G-III Apparel Lowers Outlook On Q3 Shortfall
G-III Apparel Group Ltd. reported sales grew 6.2 percent but earnings missed expectations due to logistical challenges.
