Footwear Distributors and Retailers of America (FDRA) said footwear prices rose 7.0 percent year-over-year, second only to May’s fastest year-over-year increase in 33 years.
Category: Footwear
Tilly’s Q4 Profits Climb 36 Percent
Tilly’s, Inc. reported earnings jumped 36 percent in the fourth quarter ended January 29 on a 14.9 percent revenue gain and improved gross margins. The action sports chain closed out a record year that saw revenues jump 46.0 percent.
Zumiez’s Sales Advance 4.6 Percent In Q4
Zumiez, Inc. reported earnings fell 10.7 percent year-over -ear but were ahead of levels reached in the fourth quarter of 2019. Sales grew 4.6 percent.
Skechers Partners With Decentraland
Skechers said it has become the first lifestyle brand to sign a lease in the Fashion District of Decentraland. The company also recently filed trademark applications to sell virtual goods, including footwear and apparel to explore new growth opportunities in the metaverse.
Genesco’s Q4 Earnings Surpass Expectations On In-Store Sales Recovery
Genesco, Inc. reported fourth-quarter earnings on an adjusted basis easily topped Wall Street expectations with a boost from full-price selling and strong in-store sales at Journeys and its other banners. Sales increased 14 percent year-over-year and 7 percent compared to two years ago.
Columbia Appoints New Chief Marketing Officer
Columbia Sportswear announced that it hired Pri Shumate as chief marketing officer for the Columbia brand.
Crocs Pauses Business Operations And Importation Of Goods In Russia
Crocs, Inc. announced it paused its direct-to-consumer business, inclusive of e-commerce and retail operations, in Russia. The company has also paused the importation of goods into the country.
Kicks Crew Secures Funding
Kicks Crew, an e-commerce platform for sneakers and apparel, announced the closing of $6 million in Series A funding. The financing was led by Gobi Partners and Pacific Century Group.
ABG Signs With SportChek To Expand Reebok In Canada
Authentic Brands Group (ABG) announced a new and expanded partnership with Canada’s SportChek chain for the Reebok brand. Through the long-term agreement, SportChek will carry Reebok apparel and footwear across 300 of its corporate-owned stores and complementary e-commerce websites.
Skechers Temporarily Suspends Shipments To Russia
Skechers USA Inc. announced that last week, the company temporarily suspended shipments to Russia due to the conflict in Ukraine. Skechers is also donating $250,000 in humanitarian aid.
Adidas Appoints New Managing Director For China
Adidas promoted Adrian Siu to managing director, Greater China. Previously, he was senior vice president – commercial for Adidas in the region.
Adidas Sees Modest Q4 Sales Decline On Supply Chain Challenges
Adidas reported currency-neutral sales declined 3 percent in the fourth quarter due to supply shortages as a result of the lockdowns in Vietnam last year, the challenging market environment in Greater China and pandemic-related lockdowns in the Asia-Pacific. However, currency-neutral sales for 2021 rose 16 percent and Adidas projected will increase at a rate between 11 percent and 13 percent in 2022.
Adidas Closes Stores In Russia
Adidas AG is closing its stores in Russia and suspending its online shop, joining Nike, Puma and a wide range of Western businesses that have halted operations in the country following its invasion of Ukraine.
Near-Record Import Levels Expected At U.S. Ports As Congestion Continues
Imports at the nation’s major retail container ports are expected to be at near-record levels this spring and summer as consumer demand and supply chain challenges continue to result in congestion, according to the monthly Global Port Tracker* report released by the National Retail Federation and Hackett Associates.
Mark Wahlberg Becomes Minority Investor In P448’s Parent Company
StreetTrend LLC, which owns the P448 sneaker brand, announced that actor, producer and businessman Mark Wahlberg has made a significant minority investment in the company. The terms of the deal were not disclosed.
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