Category: Footwear

Foot Locker Inc. saw fourth-quarter earnings that topped Wall Street’s consensus target but same-store sales were down 1.6  percent and were below expectations. Dick Johnson, CEO, said, “While we had leading positions in key on-trend footwear styles, this was not enough to offset softer than expected demand during the compressed holiday season, a very promotional marketplace for apparel, and tougher launch comparisons.”

The National Basketball Association (NBA) and New Balance Athletics, Inc. announced a new multiyear agreement that will make the global athletic brand an official marketing partner of the NBA.

A survey of nearly 170 firms by the American Chamber of Commerce in China, or AmCham China, found nearly one-third of U.S. firms with exposure to China are facing increased costs and significantly reduced revenue due to the coronavirus outbreak.

Josh Simon, most recently as VP and head of global strategy for product, design, merchandising and categories at Nike, has been appointed VP of consumer products for Netflix, according to a report from Variety.

Modell’s Sporting Goods said two more stores in Manhattan – located at 150 and 280 Broadway – will not be closing as planned due to negotiations with landlords, according to a Bloomberg report. The spared stores bring Modell’s planned closings to 17.

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.

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.