The retailerr eported a net loss of $96 million in the second quarter, which ended August 3, as same-store sales declined 7.7 percent. The loss compares with earnings of $19 million a year ago. Net sales declined 8.9 percent to $1.53 billion from $1.68 billion.
Author: SGB Media
Adidas’ UK Sales Fall 9 Percent in 2023
Companywide, Adidas’ sales in 2023 declined 5 percent to €21.4 billion in Euro terms with flat currency-neutral revenues. The discontinuation of the Yeezy business represented a drag of around €500 million on the year-over-year comparison during 2023.
Health & Fitness Association Hires Communication Coordinator
The Health & Fitness Association, formerly IHRSA, hired Kelsi Steinkamp as its communication coordinator.
Long-Time Nike Board Member Douglas Houser Passes Away
Douglas Houser, an attorney who incorporated Nike and served on the company’s Board of Directors for 50 years, passed away at the age of 89.
Mytheresa to Acquire Yoox Net-a-Porter from Richemont
Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments. The transaction will create a multi-brand digital group. The closing of transaction is expected to be in H1 2025.
S&S Activewear Completes Acquisition of Alphabroder
S&S Activewear completed the purchase of Alphabroder, uniting two branded apparel distributors to support customers and suppliers across corporate and consumer markets.
Stussy to Open New York City Flagship
The 5,600-square-foot space will open at 50 Prince Street. The location was formerly McNally Jackson, an independent bookseller with five New York locations.
On Brand to Open First Australian Store
The 390-square-meter flagship store draws inspiration from Melbourne’s “urban landscape,” is is the company’s 42nd globally.
Orvis Sets Layoffs and Store Closures; Discontinues Catalog
The 112 employees affected by the layoffs represent 8 percent of Orvis’ workforce. In the U.S., Orvis operates 70 retail stores and 10 outlets. In the UK, the company operates 18 retail stores and one outlet. The company did not disclose what store would be affected by the closures.
26North Acquires Onelife Fitness
Onelife Fitness was acquired by 26North from Delos Capital. The fitness company has locations across the Mid-Atlantic and Southeastern U.S.
Shoe Carnival’s Chief Merchant to Retire Next Spring
Carl Scibetta, senior executive vice president and chief merchandising officer, plans to retire in spring 2025 after working for over 50 years in the retail industry.
Salomon Opens Pop-Up In New York City, Plans Store Openings
The brand’s first store in SoHo, will serve as a test for Salomon as it plans to open five stores in 2025, beginning with a permanent space in New York City.
Fanatics Acquires European Sports Collectibles Live Selling Platform
Fanatics, Inc. announced that it has acquired Voggt, a European live-commerce platform that sells sports collectibles and trading card games. Voggt will join Fanatics Live, launched in 2023, a Fanatics-based digital marketplace similarly focused on sports trading cards and memorabilia.
Manufacturing PMI Report Sees U.S. Contraction; Textile Mills Posted Sept Growth
Seventy-seven percent of manufacturing gross domestic product (GDP) contracted in September, up from 65 percent in August. Textile Mills were one of only five manufacturing industries reporting growth in September.
Dawgs Secures Federal Circuit Win Against Crocs
Dawgs and parent Double Diamond Distribution Ltd. reported that Crocs must return to court to face allegations it violated federal false advertising laws with promotional claims that its shoes are made of “patented” materials.
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