RunSignup released the results of its survey of the endurance industry indicating that both virtual and in-person races are expected to be important in 2021.
Category: Footwear
San Diego’s A&B Sporting Goods To Close
A&B Sporting Goods in the North Park section of San Diego is closing after 79 years in business.
Report: Adidas Retains JPMorgan To Help Find Reebok Buyer
Adidas has retained JPMorgan Chase to assist with a potential sale of its Reebok brand, according to The New York Times.
REI To Open New Store
REI Co-op will open a new store in Mechanicsburg, PA in fall 2021, marking the Co-op’s fifth location in the state.
Nordstrom’s Q3 Revenues Slump 16 Percent
Nordstrom Inc. reported sales decreased 16 percent to $3 billion in the third quarter. Net earnings were down 57.9 percent in the period, but came in well above Wall Street’s targets. Top-performing merchandise categories included active, home, beauty and designer.
Tracker Boats To Double Its Footprint In Bolivar, Adding 300 New Jobs
Bass Pro Shops and White River Marine Group are expanding its Tracker Boats plant in Bolivar, MO, doubling the square footage of its manufacturing capabilities and adding 300 manufacturing jobs.
Urban Outfitters’ Q3 Profits Jump 38 Percent
Urban Outfitters Inc. announced net income rose 37.7 percent in the third quarter to $76.7 million, or 78 cents a share. Comparable Retail segment net sales were flat as a result of negative retail store sales driven by lower store productivity due to reduced store traffic, offset by strong double-digit growth in the digital channel.
Dick’s SG’s Q3 Earnings Surge On 23 Percent Comp Gain
Dick’s Sporting Goods reported earnings in the third quarter ended October 31 jumped more than four-fold as same-store sales climbed 23.2 percent. Brick & mortar same-store sales increased double-digits, the best performance since going public nearly two decades ago, while e-commerce sales expanded 95 percent.
Dick’s SG Announces Planned Leadership Succession
Dick’s Sporting Goods Inc. announced that Ed Stack, chairman and chief executive officer, will assume the role of executive chairman and continue as chief merchant on February 1, 2021. He also will oversee key strategic growth initiatives for the company. Lauren Hobart, the current president of Dick’s, will succeed Stack as president and CEO.
Li Ning Signs Jimmy Butler
Li Ning signed a multi-year shoe deal with Miami Heat superstar Jimmy Butler.
Burlington Stores’ Q3 Profits Tumble
Burlington Stores reported earnings on an adjusted basis fell 80.6 percent in the third quarter ended October 31 due to a decline in sales and higher product sourcing costs tied to the pandemic. Comparable store sales decreased 11 percent, with significant improvement coming out of August .
NRF Forecast: Holiday Sales Will Grow Between 3.6 And 5.2 Percent
With retail sales rebounding strongly due to continued consumer resilience, the National Retail Federation forecast that holiday sales during November and December will increase between 3.6 percent and 5.2 percent over 2019. Online and other non-store sales are projected to jump between 20 percent and 30 percent.
ATRA Survey: Healthy Interest In Trail Running Amid Pandemic
A survey from the American Trail Running Association (ATRA) of more than 2,500 trail runners found only one-quarter of respondents have spent less time running trails since the start of the pandemic. Three-quarters of respondents have sought out new trails for at least some of their runs. Only two percent of respondents have not run on trails in the past nine months.
Ecco Outdoor Adds Rep Coverage
Ecco has added sales rep groups in four key territories to further expand its business in the outdoor and athletic specialty category. The announcement follows the appointment of Erik Walcott as global head of specialty sales.
Nike Announces 12 Percent Increase In Quarterly Dividend
Nike Inc. announced that on November 19, 2020 its Board of Directors approved a quarterly cash dividend of $0.275 per share on the company’s outstanding Class A and Class B common stock.
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