Varsity Spirit To Open New Headquarters In Downtown Memphis
Varsity Spirit will open its new headquarters in downtown Memphis, TN.
August Retail Sales Supported By Job And Wage Gains Amid Continued Inflation
The National Retail Federation reported core retail sales, which excludes automobile dealers, gasoline stations and restaurants, grew 0.1 percent in August from July and were up 8 percent unadjusted year-over-year. Consumers’ willingness to spend overcame inflation again in August as more jobs and higher wages helped ease some of the pressure of continuing high prices, the NRF said.
Eddie Bauer Partners With Itochu For Japan Expansion
Authentic Brands Group entered into a new partnership with Itochu to grow the Eddie Bauer business in Japan.
5.11 Tactical Opens 100th Store
5.11 Tactical, a subsidiary of Compass Diversified, will open its 100th store in Oxnard, CA, on September 17, 2022.
Kanye West Seeks To End Relationship With Gap And Adidas
Kanye West said he formally notified Gap, Inc. that he is terminating his partnership with the apparel chain after two years. He accuses Gap of breaking their agreement by not releasing his apparel line or opening planned retail stores. West also reiterated to media outlets that he plans to end his Adidas contract.
Mastercard: U.S. Holiday Sales Expected To Grow 7.1 Percent
U.S. retail sales, excluding automotive, are expected to increase 7.1 percent year-over-year this holiday season, according to the Mastercard SpendingPulse annual holiday forecast.
Rab, Lowe Alpine Names National Sales Manager
Rab and Lowe Alpine hired Peter McConkie as national sales manager. He was the national sales manager for Vasque Footwear.
Olympia Sports Retains Liquidators To Close Remaining 34 Stores
Olympia Sports, which filed for bankruptcy this week to support liquidation, hired SB360 Capital Partners, LLC as its exclusive consultant to conduct “Going Out of Business” sales in its remaining 34 stores.
Railroad Strike Averted After Tentative Deal Reached
Railroads and workers’ unions reached a tentative labor agreement early Thursday, averting a national rail strike that threatened to shut a major segment of the U.S. transportation network.
Report: Steph Curry Nearing $1B Lifetime Contract With Under Armour
Steph Curry is poised to sign a lifetime contract with Under Armour worth “potentially more than $1 billion,” according to a report from Rolling Stone.
Patagonia’s Next Chapter
Patagonia announced new ownership today, nearly 50 years since Yvon Chouinard founded the business. Effective immediately, the Chouinard family has transferred ownership to two new entities—Patagonia Purpose Trust and the Holdfast Collective, with every dollar that is “not reinvested back into Patagonia be distributed as dividends to protect the planet.”
Dickies Hires Director Of Global PR And Corporate Communications
Dickies announced it hired Marianna Friedman as director of global public relations and corporate communications.
Emerald Receives Final Proceeds From Insurance Litigation Settlement
Emerald Holding, Inc. announced that it had received $149.25 million from its insurance litigation settlement for canceled events under its 2020 and 2021 event cancellation insurance policies.
Deloitte: Holiday Retail Sales Expected To Increase 4 Percent To 6 Percent
Holiday retail sales are likely to increase between 4 percent and 6 percent in 2022, according to Deloitte’s annual holiday retail forecast. In 2021, holiday sales grew by 15.1 percent in the same period.
Olympia Sports Files For Bankruptcy Protection To Liquidate Remaining Stores
Maine-based Olympia Sports Acquisitions, LLC filed for Chapter 11 protection with plans to liquidate its remaining 35 stores, citing poor sales, online competition and residual problems from the COVID-19 pandemic.
