New Era Cap Inks New Partnership with the NHL
The contract terms begin with the 2024/25 NHL season. Upcoming collections will feature current NHL and team logos, vintage marks and event logos for the NHL Winter Classic and the NHL Stadium Series.
NRF: Inbound Cargo Volume Forecasted to Grow 14.4 Percent for 2024 First Half
Importers are looking at issues including high shipping rates, unresolved port labor negotiations and continuing capacity and congestion issues from the ongoing disruptions in the Red Sea.
Target Will Stop Accepting Checks at Checkout
Target announced on Tuesday, July 9, that, as of July 15, it will no longer accept personal checks from customers at the time of checkout. The retailer confirmed its decision with the Associated Press, citing “extremely low volumes” of customers who pay by check.
Nordstrom to Open a New Rack Store in Coral Springs, FL
The new Nordstrom Rack in Coral Springs, FL, is expected to open in fall 2025. The 31,000-square-foot store will be located in Pine Ridge Square, a popular shopping center.
EXEC: Tom Peddie Returns to Nike as VP of Marketplace Partners
Executive search firm MacGregor Black noted the reappointment on Tuesday morning on LinkedIn, saying that the “move comes as the iconic sports brand looks to enhance its relationships with existing retailers such as Foot Locker.”
WNDR Alpine Launches All-Season Outdoor Gear with Biology Inside
Demonstrates the performance of bio-based materials for industry-wide adoption, reducing reliance on non-renewable sources of oil among a broader community of brands seeking innovative material solutions.
EXEC: Columbia Sportswear Shares Tick Up on Analyst Upgrade
The last big jump for Columbia came after 2024 first-quarter results surpassed analysts EPS expectations and revenue also came in ahead of consensus estimates. COLM shares jumped 10.6 percent at the time. COLM shares are now flat for the year.
EXEC: New Report Sees E-Commerce Growth Rate Contracting 70 Percent by 2029
According to data presented by Stocklytics.com, the annual growth rate in the e-commerce sector is now expected to slow to just 4.6 percent by 2029, or 69.3 percent lower than the forecasted 2024 growth rate.
NRF: Consumers Face ‘Critical Moment’ Waiting on Fed
National Retail Federation Chief Economist Jack Kleinhenz said the Fed must balance using high interest rates to reduce inflation with the risk that keeping rates too high for too long could slow the economy to the point of recession.
ITF Launches Tennis Photo of the Year Competition for Pros and Amateurs
“…we wanted to give photographers, both amateur and professional, a chance to have their creativity recognized. I would encourage anyone who captures a special tennis moment at any level of the game to enter our competition, to be in with a chance of global exposure and a fantastic prize.” —David Haggerty, ITF President
NSGA: Former Board Chairman and Source for Sports Founder Al Anderson Passes Away
Al Anderson, the only Canadian to serve as Board chairman of the National Sporting Goods Association (NSGA), passed away on July 2. He was 92.
EXEC: Vista Outdoor Rejects MNC Final Offer as CSG Ups Ammo Segment Offer to $2.1B
Vista Outdoor Board unanimously recommended the CSG offer to acquire Vista’s Kinetics Group ammo segment, and it unanimously rejected MNC Capital’s final indication as inadequate and opportunistic, particularly in its undervaluation of the Revelyst outdoor products segment.
Paul Fredrick Names New CEO
Erica Lee is the company’s new chief executive officer. Neal Black, former CEO of Paul Fredrick and Jos. A Bank will continue to serve on Paul Fredrick’s Board of directors.
Rally House Opens Storefront in Lehigh Valley Mall and Second in Houston
The nationwide retailer increased its storefront count in the Philadelphia area to 22 after opening Rally House Lehigh Valley Mall in Whitehall, PA, on July 5, on the Mall’s lower level. Rally House Willowbrook Plaza opened on July 5, two weeks after its first storefront in Houston with Rally House Houston Outlets.
SGB Media to Close for Independence Day Holiday
SGB Media will not publish the SGB Morning or Evening Newsletters on July 4 and July 5. We will return to the office and resume publication on Monday, July 8.
