Walmart announced that it will close its doors on Thanksgiving for the fourth consecutive year.
Category: Apparel
EXEC: Anta Sports Sees Fila Q3 Retail Trend Lagging First Half Gain
The company, which runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports, reported that Fila brand retail sales posted low-teens positive growth in the third quarter, down from the mid-teens growth from the first half.
Har-Tru Acquires Armor Crack Repair
Har-Tru, LLC, a specialist in court construction and surfacing solutions based in Troy, VA, has acquired Armor Crack Repair, which specializes in court crack repair and maintenance.
Consumer Prices Rose More Than Forecast in September; Apparel CPI Declines
One bright spot for consumers was in the month-over-month CPI for Apparel, which declined 0.8 percent from August, most likely owing to the de-stocking and promotional environment at retail.
SportChek Exec Joins Ross Stores as President, Operations
Ross Stores, Inc. reported that it named Stephen Brinkley to the newly-created role of president of operations, reporting to Michael Hartshorn, group president and chief operating officer, effective October 30.
Authentic Brands Group Taps Shaq to Run Reebok Basketball
Reebok appointed Shaquille O’Neal as president of Reebok Basketball with Allen Iverson serving as vice president of the division. Both NBA legends have longstanding relationships with Reebok and its parent company, Authentic Brands Group.
EXEC: Sports Direct Parent Expands Stake in Norwegian Retailer
Shares of XXL, the struggling Oslo-listed sports retailer, are reportedly surging after the company reported that Frasers Group, the UK-based parent of Sports Direct, purchased 117.4 million shares of the company, bringing its total holding to 162.1 million.
EXEC: BRC Sees Weaker UK Retail Growth in September as Non-Food Sales Decline
The British Retail Consortium reported that total UK retail sales were 2.7 percent in September, against a growth of 2.2 percent in September 2022, supported by a 9.5 percent inflation rate.
EXEC: JD Sports Completes Shares Purchase of Iberian Sports Retail Group
Effective October 10, JD acquired 49.98 percent of shares of ISRG from Balaiko Firaja Invest, S.L. and Sonae Holdings, S.A. for cash consideration of €500.1 million ($531.2 million) and now owns 100 percent of ISRG shares.
Ross Stores Opens 51 New Stores in September and October
The company opened 43 Ross Dress for Less and eight DD’s Discounts stores across 22 states in September and October, completing the company’s store growth plans for fiscal 2023, adding 97 new locations.
Iconix Brand Founder Neil Cole Gets 18-Month Prison Term
Neil Cole, the founder and former CEO of Iconix Brand Group, was sentenced to 18 months in prison, after his second trial in a criminal case. Last November, Cole was convicted of securities fraud and other charges for misleading investors about the company’s earnings.
Sporting Insights Appoints Joint Managing Director
The U.K.-based market research firm announced that Richard Payne has taken on a new position as joint managing director of the company, alongside managing director, John Bushell.
Pure Hockey to Open Two Stores In Ohio
Pure Hockey announced plans to open two stores in Ohio in mid-October in Columbus and Mayfield Heights. The openings mark the retailer’s entrance into Ohio.
Report: UK Holiday Spending Increase Will Fall Short of Inflation Growth
The 3.4 percent growth for the holiday selling period, driven by 9.3 percent inflation for the year, still falls short of last year’s increase and marks a second quarter of slowing growth in 2023.
NRF: Import Volumes Slowing Heading Into Holiday Selling
Import cargo volume at the major container ports in the U.S. has hit its expected peak for the year and should gradually slow moving into the holiday season, according to the Global Port Tracker report released by the National Retail Federation(NRF) and Hackett Associates. Ports have not reported September numbers, but Global Port Tracker projected the month at 1.94 million TEU, down 4.3 percent year-over-year. October is also forecasted at 1.94 million TEU, down 3.1 percent year-over-year.
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