EXEC: Bob’s Stores Commences Going Out of Business Sales
The company said that despite making swift and aggressive changes to its structure and operations, Bob’s Stores was unable to secure the finances needed to maintain operations.
Perfect Moment Narrows Fiscal Year Loss on Mid-Single-Digit Sales Growth
E-commerce revenue increased 21 percent to $10.4 million compared to $8.6 million in the prior year, said to be due to greater brand awareness and a stronger focus on e-commerce.
Report: Manufacturing PMI Contracted Again in June
Economic activity in the manufacturing sector contracted in June for the third consecutive month and the 19th time in the last 20 months.
Fanatics Inks Partnership Deal with New Zealand Rugby
Fanatics will become the master licensee for New Zealand and will run the e-commerce and physical retail for the All Blacks and the Black Ferns.
NYSE Regulation Moves to Delist Delta Apparel Shares; Suspends Trading
In reaching its delisting determination, NYSE Regulation noted the company’s disclosure regarding the expectation that holders of shares of Delta Apparel’s common stock would experience a complete or significant loss on their investment, depending on the outcome of the Chapter 11 cases.
EXEC: Delta Apparel Files for Chapter 11 BK Protection; Names Salt Life Stalking-Horse Bidder
The parent of the Soffe, Salt Life and Delta brands has posted losses for seven straight quarters as elevated inventory levels at the mass channel and related destocking efforts have impacted its Delta Direct vertical blank tee platform.
Sports Authority Founder Jack Smith Passes Away
Smith was the visionary who turned Sports Authority into one of the largest sporting goods retail brands worldwide. Smith also served as chairman of the board of the National Sporting Goods Association (NSGA) and was inducted into the Sporting Goods Industry Hall of Fame in 2016.
EXEC: Gym King Founder and CEO Buys Out JD Sports Stake in UK Athleisure Retailer
Founder and CEO Jay Parker, via an entity GKH Ventures Ltd. completed the buyout of JD Sports’ stake in The Gym King (Holdings) Ltd., with Parker regaining 100 percent ownership in the business.
EXEC: Wall Street Analysts Downgrade Nike as Competitors Gain Heat
Nike’s move to slash its sales forecast for the year ahead resulted in downgrades from UBS, Stifel, JPMorgan, and Morgan Stanley. Some analysts cited opportunities for Adidas, Lululemon, Hoka, On, and other competitors to gain shelf space as Nike’s overreliance on lifestyle offerings and innovation struggles continue.
EXEC: Assessing the Financial Impact of the OIA and Outdoor Retailer Break Up
The separation, or divorce, was always expected to be a tough move for OIA to absorb, as the loss of royalties from the OR show would cut millions from the trade association’s budget each year. But a funny thing happened on the way to this eventual agreement, OIA shifted its reliance on trade show royalties.
EXEC: Nike Shares Plunge on Surprise Sales Warning for Fiscal 2025
Shares of Nike Inc. closed down 20 percent on Friday, June 28, after the company revised its sales forecast to be down in mid-single digits for its fiscal year ended May 31, 2025, including a high-single-digit drop in the first half.
REI Co-op Taps Under Armour, Target Vet as VP of Human Resources
Mike Cannata was, most recently, vice president of human resources at Under Armour. Before UA, he worked for over a decade at Target, progressing from a store management through human resources leadership.
Nike Inc. Beats Q4 EPS Estimates But Warns of Fiscal 2025 Guidance Cut
Nike Inc. reported earnings in the fiscal fourth quartar ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace.
Original Penguin Enters Spain with First Flagship Store
Perry Ellis International, parent of the brand, said that the launch marks an expansion for the brand under its new Spanish license partner, Linea Magna Europa SL, an affiliate of Linea Magna which has grown the Original Penguin brand in Mexico since 2012.
Competitive Cyclist Named as Official U.S. Retailer for Tour de France
Competitive Cyclist has secured an exclusive partnership with Amaury Sport Organisation (A.S.O.) as the sole U.S. retailer for this year’s Tour de France products.
