Nike Grapples With Promotional North American Climate
Said Andy Campion, EVP and CFO, on the company’s third-quarter conference call with analysts, “Digital disruption and other dynamics are resulting in more aggressive promotional activity than we expected 90-days ago. So we are going to remain tight, with respect to the supply that we are putting into the North America market in the short-term.”
Nike Accelerates Efforts To Reach Digital Consumers
Said Mark Parker, president and CEO, “The consumer has decided digital isn’t a just part of the shopping experience. Digital is the foundation of it. This and other factors have shifted consumer patterns, especially in North America, impacting traffic, the economics of brick-and-mortar retail and is driving a more promotional environment in the near term.”
Nike Q3 Boosted By International Gains
Beyond double-digit gains in double-digit growth in Western Europe, Greater China, the Emerging Markets as well as DTC overall, Nike’s better-than-expected earnings were helped by expense leverage, higher other income and a lower effective tax rate.
Sears Warns Of ‘Going Concern’ Doubts
Sears Holding, the parent of Sears and Kmart, warned Tuesday that it faces “substantial doubt” about its ability to stay in business unless it can borrow more and tap cash from more of its assets.
Sequential Brands Appoints CEO
Karen Murray, who previously oversaw Nautica and Kipling for VF Corp., replaces Yehuda Shmidman, who is stepping down.
Perry Ellis Posts Q4 Profit
Oscar Feldenkreis, CEO, said, “While $12 million in revenues were held back in the fourth quarter as certain retail partners lowered shipments in a challenging retail environment, the strength of our sell through rates enabled us to recapture the majority of these sales shipments at the start of fiscal 2017.”
SIMA Study Reveals Online’s Disruption Of Surf Retail
In its first consumer study, SIMA (Surf Industry Manufacturers Association) found that nearly one-third of Americans are inspired by surfing. But it also showed how Amazon and online shopping have completely disrupted the marketplace for surf-inspired consumer access to surf industry brands.
Nike’s Q3 Results Race Past Wall Street Targets
Nike Inc. reported earnings rose 20.1 percent in its third quarter ended February 28, easily exceeding Wall Street’s targets. Earnings were particularly helped by lower spending. Double-digit growth on a currency-neutral basis in Western Europe, Greater China and the Emerging Markets helped make up for a more-modest 3 percent growth in North America.
Buff Names U.S. Director Of Sales
Kristin Moynihan has held positions with firms including Eddie Bauer, Starbucks, Unionbay and Coal Headwear.
Mountain Khakis Schedules Opening For Denver Flagship
The event establishes the brand’s permanent brick-and-mortar presence in Denver.
2017 Boston Marathon Street Banners Unveiled
In a departure from the photographic style of recent Boston Marathon banners, this year’s are illustrated, giving a nod to legacy banners from years ago.
Nike Content Manager Joins Flywheel
Flywheel Sports Inc., the indoor cycling studio, appointed Geralyn Coopersmith, most recently Nike’s global director of performance and fitness training, as chief content officer.
MC Sports Retains Firm To Sell Leases
A&G Realty Partners will handle the sale of 58 MC Sports leases in seven states across the Midwest following the retailer’s Chapter 11 bankruptcy filing.
Adidas To Sign Ohio University
Adidas has reportedly reached an agreement to replace Russell Athletic as the uniform supplier for Ohio University.
U.S. Trustee Objects To Hiring Of Gander Mountain Liquidators
The U.S. Trustee in the Gander Mountain bankruptcy case is objecting to Hilco, LLC being retained as the liquidator for its initial closing of 32 stores because the same parent as Hilco, LLC may submit a stalking horse bid for the retailer’s remaining assets.
