Outdoor Industry Association (OIA) and PeopleForBikes (PFB) have announced a partnership through which PFB members — bicycle manufacturers and retailers — will be able to join the OIA Climate Action Corps, a collaborative model for alignment, action and accountability to achieve industry-wide greenhouse gas (GHG) emission reductions in accordance with Intergovernmental Panel on Climate Change (IPCC) guidelines.
Category: Footwear
Adidas Global Creative Director Exits Over Controversial Comments
Adidas global creative director Paul Gaudio has left the company, effective August 31, according to an internal memo from the company. The memo did not give a reason but it arrived two days after Gaudio left a controversial comment on a Complex Instagram post.
Snow Peak USA Opens U.S. Headquarters, Retail Flagship
Snow Peak USA has opened its U.S. headquarters and retail flagship in Portland, OR “designed to build community… and ‘invite customers to ‘Dwell Outdoors Together'”.
Macy’s Q2 Comps Drop 35 Percent
Macy’s, Inc. reported same-store sales in the second quarter were down 34.7 percent but were better than expected as in-store sales recovered faster-than-expected and online sales jumped 53 percent. The second-quarter loss that was was better than Wall Street’s estimates.
Bass Pro Shops and Cabela’s Recognized For Customer Service
Bass Pro Shops and Cabela’s has received national accolades for excellence in customer service, receiving “America’s Best-In-State Customer Service 2020” award from Newsweek.
361 Degrees’ Debt Ratings Downgraded
S&P Global Rating lowered its debt ratings 361 Degrees International Ltd. as it expects the Chinese sporting good company’s market position to weaken amid accelerated industry consolidation, with a dip in revenue in 2020 and 2021. Escalated competition in China’s sportswear industry is also expeced to dent the company’s profit margin.
L.L. Bean Seeing Outdoor Boost Amid Pandemic
L.L. Bean CEO Stephen Smith told CNBC’s “Squawk on the Street” that sales of bikes, kayaks and canoes have been robust in the spring and summer as outdoor activities have increased in appeal in the stay-at-home economy.
USTA Launches Initiatives Around US Open
The USTA announced plans to capitalize on opportunities throughout the US Open to drive awareness of a variety of key initiatives to promote and develop the growth of tennis throughout the country.
Caleres Sees 21 Percent Q2 Sales Decline In Famous Footwear
Caleres Inc. reported a 20.5 percent second-quarter sales decline in the Famous Footwear segment although comparable stores sales were up 14.7 percent during the quarter.
Shoe Carnival Sees Record Q2 On Strong Athletic Footwear Sales
Shoe Carnival Inc. reported record sales in the third quarter as same-store sales grew 12.6 percent and online sales more than tripled. Earnings were down slightly due to \higher shipping costs from elevated online sales and a shift to adult athletic sales which typically carry lower margins than non-athletic footwear.
Timberland Elevates Sustainability Goals
Timberland announced a goal for its products to have a net positive impact on nature by 2030. The goal includes having all products designed for circularity and made from natural materials sourced from regenerative agriculture.
John Donahoe Sees COVID-19 Response Showcasing Nike’s Strengths
In his first shareholder letter since taking over as Nike’s CEO and president in January, John Donahoe wrote that COVID-19 “offered a stress-test” of its Consumer Direct Offense strategy while stating “Nike’s underlying strengths and resilience have become even more evident in this crisis.”
Moody’s Assigns A2 Rating To Adidas’ New Senior Unsecured Notes
Moody’s Investors Service has assigned an A2 rating to the proposed senior unsecured notes issued by Adidas AG, consisting of €500 million notes due 2024 and €500 million notes due 2035. Adidas’ current A2 long-term issuer rating and Prime-1 (P-1) short-term issuer rating are unaffected by the issuance of these notes. The outlook on Adidas is unchanged at stable.
Toms COVID-19 Global Giving Fund Generates $2 Million
Toms, the company that designs and markets shoes as well as eyewear, coffee, apparel, and handbags, based in Los Angeles, CA, generated a total of $2 million in support of COVID-19 front line workers.
J.C. Penney Sale Talks Reach ‘Stalemate,’ Raising Threat Of Liquidation
J.C. Penney’s discussions with potential acquirers of the company have hit a “stalemate” and the bankrupt retailer’s top lenders are considering making a “credit bid” to own the retailer as a stand-alone company.
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