EXEC: Footwear Retailers Score Winning Fiscal Q2; BTS Had Solid Start
Manufacturing PMI Report Sees U.S. Contraction; Textile Mills Posted Sept Growth
U.S. Port Workers and Operators Reach Deal to Suspend East Coast Strike
Report: Growing Participation Rates Supporting Outdoor Rec Sales and M&A
Amazon Plans to Hire 250,000 Holiday Workers, Same As Last Year
SGB Update
Association of Golf Merchandisers Adds Vendor Advisory Board Member
Susan Shade is an industry veteran with over 30 years of professional management experience in apparel, golf, fitness, and e-commerce. At Tharanco Lifestyles, Shade oversees the golf division, which includes distributing the Greg Norman Collection to over 50 countries.
NuOrder by Lightspeed Appoints New Head of Revenue
Chris Akrimi, most recently, was the CEO of The Layer, a tech company that “transforms commerce data through AI. ” There, he focused on positioning the company at the “forefront of AI-driven product data management.”
Footasylum Secures Funding to Drive Expansion
The company secured a £35 million ($46 mm) revolving credit line from HSBC to support expansion and sustainability initiatives, and set a goal to achieve carbon net zero for Scope 1 and 2 emissions by 2030 and Scope 3 by 2040.
JCPenney Bogged Down by Soft Traffic in Q2
The retailerr eported a net loss of $96 million in the second quarter, which ended August 3, as same-store sales declined 7.7 percent. The loss compares with earnings of $19 million a year ago. Net sales declined 8.9 percent to $1.53 billion from $1.68 billion.
Adidas’ UK Sales Fall 9 Percent in 2023
Companywide, Adidas’ sales in 2023 declined 5 percent to €21.4 billion in Euro terms with flat currency-neutral revenues. The discontinuation of the Yeezy business represented a drag of around €500 million on the year-over-year comparison during 2023.
SGB Executive
Survey: Nearly Two-Thirds of Americans Want to Shop Local More
Lending Tree’s online survey of 2,000 U.S. adults, taken from August 12-14, 2024, found that 90 percent of respondents believe shopping locally positively impacts the quality of their life.
EXEC: JD Sports Reports Fidelity Subsidiaries Fall Below 5 Percent Voting Rights
FMR LLC has seen its voting rights percentage fall below the 5 percent threshold for reporting purposes to 4.95 percent of JD voting rights. JD Sports is the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail brands in the U.S.
EXEC: Footwear Retailers Score Winning Fiscal Q2; BTS Had Solid Start
SGB Media wraps up the fiscal second quarter for footwear sales, as retailers generally delivered a healthy performance across the specialty, family footwear, and sporting goods space—with many helped by strength in athletic brands and a good start to back-to-school selling.
EXEC: Outdoor Industry Association Partners With Switchback Trade Show
OIA ended its 30-year partnership with Outdoor Retailer trade show this past July and will now support a twice-annual outdoor trade show. The year-round partnership will debut at the inaugural Switchback Spring in Nashville, TN from June 16 to 18, 2025.
Manufacturing PMI Report Sees U.S. Contraction; Textile Mills Posted Sept Growth
Seventy-seven percent of manufacturing gross domestic product (GDP) contracted in September, up from 65 percent in August. Textile Mills were one of only five manufacturing industries reporting growth in September.
