The retailer has continued to feel the effects from the ongoing macro headwinds that are impacting consumer discretionary spending in the second quarter-to-date as same-store sales are running down despite a benefit from an extra day due to the Easter shift.
Author: SGB Media
Wolverine Worldwide Enters Licensing Agreements for Merrell and Saucony Brands
WWW entered two new global licensing agreements as part of its ongoing “strategic transformation” into a brand-led growth company for Merrell and Saucony kids footwear and Merrell apparel and accessories.
Big 5 Sporting Goods Falls to Q1 Loss as Comps Fall 13.5 Percent
The company said the calendar shift of the Easter holiday, during which the company’s stores were closed, from Q2 2023 to Q1 2024, negatively impacted sales comparisons by approximately 100 basis points.
Rocky Brands Swings to Q1 Profit as Organic Sales Grow 7.6 Percent
The owner of the Rocky, Georgia Boot, Durango, Lehigh, The Original Muck Boot Company, Xtratuf, and Ranger brands divested the Servus brand in the year-ago period, which boosted sales and margins on an organic basis.
Unrivaled Sports Acquires Under the Lights Powered by Under Armour
Founded in 2015, Under the Lights Powered by Under Armour operates 170 local flag football leagues with 35,000 boys and girls from first through eighth grades, organizing events for over 5,000 teams in 27 states.
Rocky Brands Inks Comprehensive Debt Refinancing Deal
The debt refinance agreement includes a $175 million revolving credit facility and a $50 million term facility, amending and restating the company’s existing $175 million revolving credit facility with Bank of America.
Fanatics Adds Sunderland AFC to Football Club Portfolio
Fanatics becomes the exclusive operator for the Club’s online and stadium store and includes a significant investment in a new retail store at the Stadium of Light.
Vista Outdoors Postpones Investor Day as it Measures Suitor’s Interest
Initially scheduled for May 29, the event will now take place early in the fall at the company’s Adventure Sports headquarters in Irvine, CA. The company will share the rescheduled date closer to the event.
EXEC: REI Co-Op Sales Ticked Lower in 2023; Loss Widens
REI reported that three factors largely drove the loss: its commitment to continue investing in hourly employee pay, its commitment to providing a member reward and a $169 million non-cash valuation allowance against its deferred tax assets.
One Stop Sports Rebrands to Replay Sports Cards
With national expansion on the horizon, the team is focused on building a “robust” training program for future Replay Sports Cards shops nationwide. Community Franchise Group is assisting in the company’s growth.
Anderson Manufacturing Appoints New CEO
Jeff Stawiarski took the helm as CEO of the family-owned company, effective April 29, reinforcing Anderson’s commitment to innovation and growth in the manufacturing of rifles, parts and accessories.
EXEC: Adidas Swings to Q1 Profit as DTC Drives Top-Line Growth
Footwear revenues grew 13 percent in Q1, said to be driven by the strong brand momentum, particularly in the Originals and Football categories, and Apparel sales were up 2 percent in the period. Accessories grew 1 percent.
German Precision Optics Hires Northeast Sales Group
This strategic partnership with Pestilli Group marks a significant milestone in GPO’s growth in the U.S. and for both companies.
Thompson/Center Arms Acquired by Former Owner
Gregg Ritz, the former owner of Thompson/Center Arms acquired the company to “reinvigorate the brand and its legacy in the firearms market.”
Wolverine Worldwide Appoints Chief Legal Officer and Corporate Secretary
Dave Latchana was promoted to chief legal officer and corporate secretary, overseeing the company’s legal, compliance, corporate communications, risk management, ESG, security, and loss prevention functions.
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