Apex Global Brands Sees 17 Percent Drop In Q3 Revenues

Apex Global Brands, which counts Hi-Tec, Cherokee and Tony Hawk among its lifestyle brands, reported revenues fell 17 percent in the third quarter ended October 31 although it was able to slightly narrow its loss in the period. The company secured an extension on a forbearance agreement from its lenders.

FDRA Adds Board Members

FDRA has added a new slate of top footwear executives to its board of directors as part of its assumption of, and effort to reinvigorate, the Fashion Footwear Association of New York (FFANY).

JD Sports Acquires Shoe Palace

JD Sports said it has acquired Shoe Palace for $325 million in a move that will expand its footprint on the West Coast. The U.K.’s largest sneaker chain marked its entry in the U.S. with the acquisition of Finish Line in 2018.

Sports Direct’s Parent Sees 7.4 Percent Sales Drop In First Half

Frasers Group PLC reported revenues declined 7.4 percent in the six months ended October 25, largely caused by temporary store closures due to COVID-19, offset by the strong reopening of stores after lockdown and growth in its online business. Sales at Eastern Mountain Sports and Bob’s Stores in the U.S. saw double-digit declines.

Tecnica Appoints North American Business Unit Director, Tecnica Footwear

Tecnica Group has hired Rob Phillips to the newly created position of North American business unit director, Tecnica Footwear. Responsible for overseeing commercial operations, product and marketing, Phillips joins Tecnica with over 14 years of sales and management experience including seven years with 5.11.

Academy Sports Reports Record Q3 Sales And Earnings

Academy Sports and Outdoors Inc., in its first earnings report since going public, reported earnings vaulted 188 percent on an adjusted basis in the third quarter ended October 31. Revenues jumped 17.8 percent. Results were well ahead of Wall Street’s targets. The retaller marked its fifth consecutive quarter with a comparable sales increase.

Imports Still Strong Though October

Imports remain strong through October after setting new records this fall as retailers stocked up both stores and warehouses for the holiday season and met new demands for quick delivery of online orders, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.