Remington Products Company announced it has recently acquired the Foot Petals brand from RG Barry Corporation. Foot Petals is a designer brand of foot cushions and inserts including ball-of-foot, back of heel and arch cushions.
Category: Footwear
Active Ride Shop Announces New Ownership
Active Ride Shop, the skate chain based in Ontario, CA, announced that Bedford Ventures Inc. has acquired its assets from GemCap Lending following an auction process. The new owners plan to re-open three stores this spring.
J. C. Penney’s Q4 Comps Slide 7 Percent
J. C. Penney Company reported earnings on an adjusted basis fell 24.6 percent in the fourth quarter as same-store sales were down 7.0 percent.
VF Corp. Closes Inaugural €500 Million Green Bond
VF Corp. announced the closing of its €500 million green bond offering, representing the first green bond issued in the apparel and footwear industry. The amount equivalent to the net proceeds from the offering will be used to advance programs within the company’s Made for Change Sustainability & Responsibility strategy.
Acushnet’s Earnings Soar In Q4
Acushnet Holdings Corp., the parent of Titleist, reported net income rose 57.0 percent in the fourth quarter on a 7.3 percent sales gain. Net earnings rose 21.2 percent in the year on a 2.9 percent sales increase.
Crocs’ Q4 Revenues Jump 22 Percent
Crocs, Inc. reported earnings in the fourth quarter that topped Wall Street’s targets as sales expanded 21.8 percent to cap off a strong year. Crocs officials, however, warned that sales in the first quarter would be hurt by $20 million to $30 million due to disruptions in Asia from the coronavirus.
Revolve Sees 16 Percent Q4 Growth
Revolve Group, the fashion e-tailer, reported sales in the fourth quarter ended December 31 rose 15.5 percent to $147.6 million from $127.7 million.
Tokyo Olympics May Be Cancelled If Coronavirus Not Contained By Late May
The 2020 Tokyo Olympics are more likely to be canceled than moved or rescheduled if by late May the coronavirus outbreak is deemed too dangerous to go ahead with the original schedule, according to International Olympic Committee member Dick Pound.
Big 5 Warns Of Q1 Loss
Big 5 Sporting Goods Corp. reported earnings of $356,000, or 2 cents share, in the fourth quarter, rebounding from a loss a year ago. But the retailer said it expects a loss in the first quarter as winter weather conditions have softened significantly over the course of the period. Same-store sales are currently running down approximately 10 percent in the quarter.
FDRA’s 2020 Footwear Executive Summit Set For March
Executives from Journeys, Keen Footwear, DSW, Caleres, Target and BBC International are among the speakers at FDRA’s 2020 Footwear Executive Summit.
Modell’s Releases List Of Planned Store Closures
Modell’s Sporting Goods’ list of the 19 stores it plans to close includes nine locations in its hometown of New York City. The retailer initially said it planned to close 24 stores but rent concessions will keep five open.
AAFA Grows Policy And Membership Teams
The American Apparel & Footwear Association (AAFA) announced that it has hired Beth Hughes as vice president, trade & customs policy, and Megan Balkovic as director, membership experience & industry engagement. Both are new positions that expand the association’s policy and membership divisions.
Foot Solutions Acquired By Private Investors
Foot Solutions Inc., a franchisor of custom orthotics and footwear retail locations, announced the acquisition of the business by a group of private investors.
Macy’s Q4 Exceeds Wall Street’s Target
Macy’s Inc. reported both earnings and sales were down in the fourth quarter but sales were down less than expected and earnings exceeded Wall Street’s consensus target.
Wolverine World Wide Sees Five Percent Growth In Q4
Wolverine World Wide Inc. reported sales rose 4.8 percent in the fourth quarter, boosted by mid-teens revenue growth from Merrell and Sperry and saw earnings top Wall Street’s guidance. For the current year, however, the company provided a soft outlook, citing the negative impact of the coronavirus outbreak.
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