Imports surged to unexpectedly high levels this summer and may have hit a new record, as the U.S. economy continues to reopen and retailers stock up for the holiday season, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Category: Footwear
Crocs Sees Growth Resuming In Q3
Crocs Inc. said it expects third-quarter revenues to expand approximately 10 percent.
StockX Co-Founder Josh Luber To Exit Company
Josh Luber, the co-founder of StockX, is leaving the company a little over a year after he stepped down as CEO.
Portland’s U.S. Outdoor Store Files For Bankruptcy
U.S. Outdoor Store, a landmark store in downtown Portland for decades, filed for bankruptcy and closed its downtown store. The retailer blamed fallout from COVID-19, civic unrest in Portland, shifts to online purchasing and a dispute with its lender. Amer Sports, The North Face and Volcom held the largest unsecured claims among vendors.
Oboz Announces New Hires And Promotions
Oboz has hired a national sales manager and planning analyst while making two internal promotions in product and operations to foster its continued growth.
Yue Yuen’s Sales Sink In August
Yue Yuen Industrial reported sales in August reached $626.0 million against $840.3 million a year ago, representing a decline of 25.5 percent.
Zumiez Q2 Earnings Soar
Profits at Zumiez Inc. climbed 182 percent in the second quarter ended August 1 as sales grew 9.6 percent. Earnings were well above Wall Street’s targets.
Adidas Launches Zoe Saldana Active Collection At Kohl’s
Kohl’s and Adidas announced a new collaboration with actress Zoe Saldana to launch the Adidas x Zoe Saldana collection of active apparel, footwear, and accessories for women.
Century 21 To Liquidate
Century 21, the New York department store chain, filed for bankruptcy and said it will close its stores after nearly 60 years in business. Adidas; Hanesbrands, the parent of Champion, Puma; and Nike all landed on the top-30 unsecured creditors list.
UCLA’s Under Armour Lawsuit Moves To State Court
UCLA on Wednesday voluntarily dismissed its breach of contract lawsuit against the Under Armour in federal court while pursuing the complaint in state court. No reason was given for the removal action.
Academy Sports Files To Go Public
Academy Sports and Outdoors Inc. announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering.
Report: JCPenney Finds Rescue Deal With Simon Property And Brookfield
Mall owners Simon Property and Brookfield Property Partners have reached an agreement in principle to acquire JC Penney out of bankruptcy proceedings in a deal valued at approximately $800 million, sources told the Wall Street Journal. The move will avoid a total liquidation and save about 70,000 jobs and 650 stores, Joshua Sussberg, a lawyer represensting Penney for the Kirkland & Ellis said in bankruptcy court Wednesday.
Adidas Extends Contract With Northwest Missouri State University
Adidas renewed its sponsorship deal with Northwest Missouri State University through 2026. MB2 Sports, out of the Kansas City area, will service the contract.
Hoka Signs Sponsorship Agreement With NAZ Elite
The new four-year agreement will begin January 1, 2021, spans two Olympic cycles, and is intended to increase not only the personal level of support for each of the club’s individual athletes but the club’s overall infrastructure as well.
Neil Fiske Joins Marquee Brands As CEO
Marquee Brands LLC appointed Neil Fiske as its first chief executive officer of Marquee Brands LLC. Fiske was most recently chief executive officer of the GAP brand and formerly led Billabong and Eddie Bauer.
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