SGB Footwear

SGB Update

Lululemon Sues Costco Over Alleged Copycat Yoga Pants

The brand is seeking a court order to prevent Costco from manufacturing, importing, advertising, and selling the alleged LULU counterfeit products. It also wants Costco to pull all ads that promote the products and is asking for compensation for lost profits.

Caleres Amends and Extends Credit Agreement

The parent company of Famous Footwear and the Naturalizer, Vionic, Allen Edmonds, Blowfish Malibu, and Sam Edelman brands, has entered into an amendment of its credit agreement, which extends its senior secured asset-based revolving credit facility to June 2030.

SGB Executive

EXEC: Citi Survey Finds Adidas’ Brand Perception Catching Up to Nike

Citi Research’s latest quarterly Global Sporting Goods Survey found that Nike out-ranked Adidas in terms of intent to purchase and is the athletic brand consumers perceive as the most innovative in North America. However, Adidas tied Nike for the highest Net Promoter Score (NPS) among athletic brands in June, highlighting the popularity of Adidas’ Terrace franchises

EXEC: Nike, Inc. Forcing Australia’s SurfStitch Into Liquidation

Nike claims SurfStitch owes it $237,760 and is demanding that the company be placed into liquidation. Edwin Narayan and Domenic Calabretta, from Mackay Goodwin, were appointed as administrators earlier this month to sort out the retailer’s finances.

EXEC: Nike Inc. CEO Expects $1 Billion Hit from Tariffs; Sees Turnaround Progressing as Planned

Nike, Inc. continues to face headwinds in its turnaround efforts, including an estimated $1 billion hit from tariffs. However, the company’s first-quarter guidance came in better than expected. Nike officials told analysts that its steps to reengage wholesale partners are paying off, with holiday bookings up. Shares of Nike in mid-day trading Friday, June 27, were up about 17 percent.