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.
Category: Apparel
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.
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.
Gymshark Names Adidas Exec As First Wholesale and Retail Boss
Hannah Mercer joins the activewear brand after working at Adidas for six years as global vice president, where she reportedly “masterminded and executed the brand’s global retail strategy.”
Reef Appoints New CFO
Daniella Turenshine is Reef’s new chief financial officer. Most recently, she was the CFO at Figs since December 2021 and, before that, the senior vice president of Finance and Strategy since November 2018 at Figs.
EXEC: Kappa Retail Stores in China See Comp Sales Decline in Fiscal Q4
Same-store sales recorded a high-single-digit decline on a year-over-year basis for Kappa-branded stores that have been in operation since the beginning of the prior-year fourth quarter.
Skechers Opens First Concept Store In Brussels
Skechers expanded its retail presence across Belgium with a new 5,270-square-foot store showcasing the brand’s footwear, apparel and accessory collections.
Rally House Opens Storefronts in Chicago, New Jersey, New York, and Kentucky
The retailer opened Rally House Old Orchard (Chicago), Rally House Deptford Mall (Deptford, NJ), Rally House Jefferson Mall (Louisville, KY), Rally House Walden Galleria (Buffalo, NY)
EXEC: Columbia Using Temp Stores to Offload Excess Goods as it Fights to Right-Size
While the company is focused on improving the Columbia, Sorel and Prana businesses through investments in innovation and marketing, the company only has to look as far as its Mountain Hardwear brand and new leadership and direction to see early results of similar efforts.
Adidas signs 2024 NFL Rookie Classmates to Athlete Roster
2024 NFL Rookie Classmates Xavier Legette, Adonai Mitchell, Rome Odunze, Michael Penix, Jr. signed with Adidas as they begin their pro careers.
Report: Sporting Goods Manufacturers’ Sales Grew 4.2 Percent in 2023
In 2023, the sporting goods industry grew 4.2 percent compared to 2022, reaching $121.66 billion, according to the SFIA report, and grew 26.8 percent compared to 2019 pre-pandemic levels.
Columbia Sportswear Ups 2024 Profit Guide, Maintains Sales Decline
First quarter net sales decreased 6 percent to $770.0 million. The decline primarily reflects lower wholesale net sales in the U.S. and Canada, driven by retailer cautiousness, a challenging competitive environment and generally soft consumer demand.
EXEC: Ahead, Craft, Cutter & Buck Parent Sees Sales Decline Cut into Bottom Line
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson reported that first-quarter net sales decreased 7 percent to SEK 1.995 billion. Regionally, Central Europe, followed by the U.S., performed best in sales volume.
Hoka to Open New Retail Store in Honolulu
Ala Moana Center, Hawaiʻi’s largest open-air shopping center, located steps away from Ala Moana Beach Park, will welcome Hoka as a tenant next month.
Mountain Khakis Opens Outlet Store in Utah
The Traverse Mountain Outlet store in Lehi, UT is the brand’s second retail store to open this year, following the addition of its Castle Rock store in Colorado.
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