Speaking last week at the Advertising Week conference in New York City, Under Armour’s Kevin Plank spoke about the importance of brand values in driving sales and earning advocacy. The brand’s recent sales slump, according to the CEO, is partly because management neglected the company’s core purpose after years of growth.
Category: Footwear
Under Armour Signs Joel Embiid
Under Armour Inc. has added the Philadelphia 76ers’ star center Joel Embiid as an ambassador. The five-year deal makes Embiid the NBA’s highest-paid center on a shoe deal and he will have a signture shoe.
NBA’s Top Draft Pick Ensnared In College Basketball Scandal
On Wednesday at the college basketball corruption trial taking place in Manhattan’s federal court, Adidas consultant T.J. Gassnola, testified that the families of five recruits, Brian Bowen, Billy Preston, Silvio De Sousa, Dennis Smith and Deandre Ayton, received payments as a recruiting incentive.
Retail Imports Expected To Remain Strong
Imports at the nation’s major retail container ports are expected to remain at near-record levels in October despite a new round of tariffs that took effect in September, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Skechers Celebrates 10th Pier to Pier Friendship Walk With $2 Million Fundraising Goal
Backed by presenting sponsor Nickelodeon and media sponsor NBC4 Southern California, the Walk has topped donations every year since its inception, and is expected to continue its winning streak and surpass $2 million for the first time in the event’s history.
Zumiez’s Comps Expand 1.2 Percent in September
Zumiez said same-store sales increased 1.2 percent for the five-week period ended October 6.
Nike’s Kaepernick Campaign Garners Mixed Reaction In Cowen Survey
Nike’s “Just Do It” campaign featuring Colin Kaepernick received mixed reaction based on factors such as how much consumers earn annually and how much they spend with the brand, according to a survey published Wednesday by the investment firm Cowen.
DSW Reinvents Business Model With Camuto Group Acquisition
On a conference call with analysts, DSW Inc. officials said the Camuto Group deal extends the company’s growth opportunities outside the moderate channel and footwear category, but will particularly support its effort to sell exclusive brands inside DSW locations, at third-party stores and direct to consumers. Said DSW’s CEO Roger Rawlins, “As the retail landscape evolves strong brands with the ability to build the direct-to-consumer model have captured increasing market share.”
DSW And Authentic Brands Group To Acquire Camuto Group
DSW Inc. announced the company has entered into a definitive agreement to acquire the operations of Camuto Group, best known for the Vince Camuto brand and the footwear licenses of Jessica Simpson and Lucky Brand. Additionally, DSW and Authentic Brands Group LLC (ABG) have entered into a definitive agreement to acquire several intellectual property rights from the Camuto Group under a new partnership. Total consideration paid to the Camuto Group will be approximately $375 million.
Dick’s Sporting Goods Expands Use Of First Insight Technology
Dick’s Sporting Goods has expanded the company’s partnership with First Insight, which offers technology aimed at helping retailers and brands make better-informed product development and pricing decisions.
Cabela’s Credit Card Staffers Face Lay Offs
Capital One Financial, which bought the credit card operation of the former Cabela’s, said 153 employees in Lincoln, NE, will be laid off. In June, about 450 people had been working in Lincoln, NE, servicing the customers of the Cabela’s CLUB card, according to the Omaha-World Herald.
New Balance Signs Sprinter Gabby Thomas
New Balance has signed Harvard sprinter Gabby Thomas to a multi-year endorsement contract. Thomas won the 200m 2018 NCAA Indoor Track and Field Championships and took 2nd in the DI NCAA Outdoor National Track and Field Championships.
PGA Tour Superstore Opens Store In Chicago
PGA Tour Superstore announced the opening of the company’s third store in the Chicago region, serving the Vernon Hills and northern Chicago communities.
Report: Sears Hires Bankruptcy Professionals
Sears Holdings Corporation, the parent of Sears and Kmart, is considering filing for bankruptcy protection as soon as this week as it faces a large debt repayment on Monday, reports The Wall Street Journal. Advisory firm M-III Partners LLC has been hired to prepare the bankruptcy filing, according to the report.
September Retail Jobs Increase More Than 25,000 Over 2017
Retail industry employment in September increased by 25,600 jobs unadjusted over the same time last year despite a seasonally adjusted drop of 23,600 jobs from August, the National Retail Federation said.
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