SGB Executive Apparel
EXEC: SEC Charges Terminated Foot Locker Exec with Insider Trading
Barry Siegel, the former senior director of order planning management for North America, agreed to a civil settlement after allegedly using material nonpublic information about sales and inventories to short FL shares prior to two Foot Locker earnings announcements in 2023.
EXEC: Golden Goose Gets Strong DTC Lift to Post DD Growth in First Half
DTC net revenues reached €226.8 million, accounting for 73 percent of total revenues in the first half on 18 percent year-over-year growth. Wholesale revenues were down 5 percent y/y to €74.6 million in H1, accounting for 24 percent of total net revenues in the period.
Cultural Shift: Lululemon’s Global Wellness Report Finds Wellbeing Burnout
Lululemon’s fourth annual 2024 Global Wellbeing Report underscores a move towards a more personalized approach to well-being amid a fast-paced digital lifestyle. For market stakeholders, understanding the nuanced needs of consumers is key for success in this evolving landscape.
EXEC: Analysts See Nike’s CEO Change Giving the Brand Room to Maneuver
Not since ET, the Extraterrestrial has the resurgence of someone named Elliott created the amount of excitement Nike, inc. generated on Thursday when the company named former Nike exec Elliott Hill as the next president and CEO of the largest sporting goods company in the world
EXEC: Nike Putting the Band Back Together as Elliott Hill Named CEO, Effective Oct. 14
The Nike, Inc. Board and current CEO John Donahoe have decided he will retire from his role as president and CEO and from the Nike, Inc. Board of Directors effective October 13.
EXEC: OR Throws in the Towel on November Event, Will Focus on June 2025
Most in the outdoor industry expected the news from OR’s parent company today that it canceled the November show and the venerable and iconic Outdoor Retailer Winter Market is no more.
EXEC: The 2024 Holiday Retail Calendar Adds Twists, Turns and Speed, According to BCG
In 2023, consumers completed over 50 percent of their Holiday shopping before Thanksgiving. However, the peak Holiday period (after Cyber Monday through Christmas Eve) was still the busiest, with 36 percent of shopping. This year that period will only have 27 days.
EXEC: Gartner Expects 32 Percent of Consumers to Shop Early for Holidays
Gartner suggests that 32 percent of consumers will begin holiday shopping between July and October and only 14 percent of U.S. consumers plan to spend more year-over-year, with 21 percent of consumers reducing their holiday spending.
Go Sport Expanding into Baghdad, Iraq
The international sports retailer’s expansion into Iraq is part of Go Sport’s broader growth strategy, following the brand’s acquisition by Al Mana in April 2023.
EXEC: Bain Sees E-Commerce Driving 90 Percent of Holiday Growth (updated)
Bain said a potential rate cut this week could spur consumer confidence and sales may also benefit as some consumers feel wealthier from rising disposable income and strong stock market gains this year. Deloitte and Bain both see e-commerce up in the high single digits for Holiday 2024 versus Holiday 2023.
EXEC: Nike and Adidas’ China Retail Partner Warns of Fiscal H1 Sales and Profit Decline
The company, which also manages retail operations in China for other “non-principal” brands, including Puma, Converse, Vans, The North Face, Timberland, Asics, Hoka, Skechers, the NBA, and other brand partners, reported that H1 profit is expected to decrease 35 percent year-over-year.
EXEC: New Hibbett Parent JD Sports Names First U.S. Non-Executive Director
Following the acquisition of Hibbett, Inc. and recommendations made as part of the JD Sports Board of Directors’ recent external evaluation, the Board undertook a thorough search process to recruit a U.S.-based non-executive director to add U.S. market perspective and insight to Board discussions.
EXEC: Lolë Brands Acquires Garneau, Sugoi and Sombrio Brands
The move to acquire Louis Garneau Sports comes one month after Lolë Brands acquired the Sanuk business from Deckers Brands, a little over a year following its acquisition of Époque Évolution and four years since filing for bankruptcy in Canada.
EXEC: Biden Uses Executive Action to Stymie Temu and Schein Efforts in the U.S.
The actions would also protect U.S. textile and apparel manufacturers, noting the critical role they play in the U.S. defense industrial base and its support of hundreds of thousands of direct and indirect jobs in the United States.
EXEC: Tommy Bahama Parent Sees Economic Uncertainty Hit 45+ Affluent Consumer
Oxford Industries, Inc., the parent company of Tommy Bahama, Lilly Pulitzer and Johnny Was, continued progress on long-term strategic goals in Q2, but the company also said it fell short of delivering on its near-term financial targets.
