Lifestyle changes and consumer behavior shifts in 2020 due to COVID-19 drove year-over-year sales declines for the U.S footwear industry, but trends are expected to stabilize and recover through 2021, according to NPD’s Future of Footwear Report. Improved fashion footwear and performance sales are forecasted to lead to increased dollar sales overall, but remain below […]
Category: Footwear
Nike To Layoff 700 At HQ By January
Nike will be laying off approximately 700 employees from its world headquarters in the Beaverton area, according to an October 29 letter the company sent to local and state officials.
Kingswood Capital Management Completes Acquisition Of MEC
Kingswood Capital Management, LP announced that it has completed its acquisition of substantially all of MEC’s assets through the company’s Creditors Arrangement Act. MEC is Canada’s largest outdoor chain with 21 stores.
The Association Of Golf Merchandisers Appoints Marketing Manager
The Association of Golf Merchandisers (AGM) announced the appointment of Jennifer Morton to the newly created position of marketing manager.
Emerald Holding Sees Sales Collapse On Cancelled Shows
Emerald Holding Inc. reported revenues of $8.5 million in the third quarter ended September 30 compared to revenues of $75.6 million for the third quarter of 2019, a decrease of 88.8 percent. The decrease primarily reflected a $68.0 million reduction from the cancellation of substantially all third-quarter events due to COVID-19 most notably ASD August, NY NOW August, CEDIA Expo, and Modern Day Marine.
Surf Expo To Hold In-Person Show In January
Surf Expo announced its upcoming January 6-8, 2021 show will take place in the West Concourse of the Orange County Convention Center, a shift from the North/South Hall where the show has been held previously.
NPD Study Predicts Strong Sales Gains For “New Holiday Period”
NPD’s annual Holiday Purchase Intentions study predicts sales increasing in the range of 4.3 to 5.1 percent for the “new holiday period”, beginning in mid-October with early promotions, running through mid-January with gift card redemption. The estimate also spans a broader view of NPD’s discretionary categories.
VF Corp. Appoints VP, Global Inclusion & Diversity
VF Corp. announced the appointment of Lauren Guthrie to the position of vice president, global inclusion & diversity (I&D).
Genesco Announces Departure Of Chief Financial Officer
Genesco Inc. announced that Melvin G. Tucker, senior vice president and chief financial officer, has resigned his position, effective November 27, 2020.
Nike Partners With Lazada, Southeast Asia’s E-Comm Platform
Nike has partnered with Lazada, Southeast Asia’s e-commerce platform, to reach consumers across Indonesia, Malaysia, the Philippines, Singapore and Thailand through the Nike LazMall Flagship Store.
Earth Partners With Canadian Shoe Distributor
Earth Inc. announced a new partnership with Canadian Footwear Distributor, The Indeka Group.
Deckers Brands Launches Creating Change Report
Deckers Brands published its Creating Change FY20 Corporate Responsibility and Sustainability Report, including its progress made toward its sustainable development goals.
Former Nike Digital VP Joins Postmates
Mike Buckley, a former VP at Nike Digital, has joined Postmates, the delivery platform, as SVP of Business.
Under Armour Enters Agreement To Sell MyFitnessPal Platform
Under Armour Inc. announced that it has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners. Under Armour also said it will discontinue its Endomondo platform’s operations at the end of 2020.
Under Armour’s Q3 Tops Wall Street’s Targets
Under Armour Inc.’s third-quarter results topped analyst targets due to improving performance in North America and a 19 percent sales gain in footwear. The company also provided a full-year outlook that was better than expected.
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