REI reported a 3.1 percent gain in operating earnings in 2017 on improving gross margins and record sales. The co-op also ramped up sustainability efforts by announcing new rigorous standards that will impact every brand the co-op sells.
Author: SGB Media
Billabong’s Merger With Boardriders Approved By Court
Billabong International Limited announced that the Federal Court of Australia confirmed its sale to Boardriders.
When The Weather Rolls In … Get The Shell Out
It pays to have a rain jacket when bad weather catches you off guard.
Good To-Go Recognized By U.S. Small Business Administration
The U.S. Small Business Administration announced that Jennifer Scism, CEO, and David Koorits, COO, of Good To-Go in Kittery, ME have been selected to receive the U.S. Small Business Administration’s 2018 Small Business Manufacturer of the Year Award for Maine.
Fiji Water Becomes Official Water Partner Of SoulCycle
Fiji Water announced its official partnership with SoulCycle, a company that produces indoor cycling classes.
RYU Apparel’s Revenues Jump In 2017
RYU Apparel Inc., the maker of urban athletic apparel, reported revenues for the year ended December 31, 2017 were $3.0 million, 121 percent higher than revenue of $1.37 million during the year ended December 31, 2016.
REI Sets New Sustainability Standards For Suppliers
To elevate sustainability across the outdoor and retail industries, REI Co-op debuted product sustainability standards that apply to each of the more than 1,000 brands sold at the co-op.
Adidas To Close Stores In Online Shift
Adidas is planning to close stores in coming years as the company shifts investments to online operations, Adidas CEO Kasper Rorsted told the Financial Times.
REI Posts Record Sales In 2017
REI, celebrating its 80th year, reported sales of $2.62 billion in 2017, a gain of 2.3 percent from $2.56 billion in 2016. The co-op also welcomed nearly 1 million new members and reinvested nearly 70 percent of profits into outdoor communities in 2017.
Canadian Tire Introduces Triangle Rewards
Later this spring, Canadian Tire, the parent of Sport Chek, will evolve the company’s iconic loyalty program, Canadian Tire Money, with the introduction of Triangle Rewards.
Fanatics Wins Lawsuit Against Former Employee
A circuit judge in Jacksonville, FL, issued a temporary injunction that won’t allow ’47 Brand to use information that is alleged to have been stolen from rival company Fanatics, according to a report from ESPN.
Champion Opens First U.S. Store
Champion Athleticwear opened the company’s first full-price store, in Los Angeles at 123 South La Brea Avenue.
Newell Brands Shareholder Letter Claims Starboard Has “No Plan”
Newell Brands’ board of directors mailed a letter to the company’s shareholders on April 6 arguing that activist investor Starboard doesn’t understand the company and “has no plan.”
Decathlon Launches First U.S. Lab Store In San Francisco
Decathlon USA hosted the company’s official grand opening event at its new U.S. lab store in San Francisco.
What Can JD Sports Bring To U.S. Sneaker Retailing?
While British retailers generally have a poor track record finding success in the U.S. retail marketplace, JD has the potential to create a strong number two beyond Foot Locker in U.S. sneaker retailing with its pending acquisition of Finish Line. That’s at least according to a few analysts in the U.K. who closely follow JD.
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