Wolverine Improves Margins in Tough Q4; Sees Double-Digit Decline for 2024
Fourth quarter revenue from the ongoing business was $521.2 million and declined 18.4 percent on a constant-currency basis, with all segments and brands posting declines.
EXEC: Havaianas Parent Ends 2023 on Low Note; Works to Conserve Cash
Havaianas revenues for the fourth quarter declined 8.7 percent year-over-year (YoY) to R$991.8 million. International revenues were down 48.9 percent to R$96.6 million in the period.
Camping World Chair and CEO Named Executive Chair at Beyond, Inc.
Marcus Lemonis has been a director of Beyond since October 2023 and the chairman of its Board since December 2023. As executive chairman, he will work closely with the management team to lead and execute Beyond’s strategic priorities.
Shaq and Reebok Collab with Pepsi, Debut The Pepsi Sneak’er
Pepsi collaborated again with Shaq, president of Basketball at Reebok, on the Pepsi ‘Sneak’er, a custom-built Reebok Pump Shaq Attaq that holds a mini can of Pepsi in the sole courtesy of the Shoe Surgeon.
EXEC: January Footwear Manufacturing Revenues Jump at Feng Tay
Analysts have noted in reports that the market should not get too excited with the revenue decline in January 2023 or the increase in 2024 in China, Taiwan or Vietnam due to the shifting dates for Chinese New Year.
Walmart Inc. Tops Wall Street Estimates in Strong Q4 Performance
Consolidated revenue was $173.4 billion for the fourth quarter, up 5.7 percent, or 4.9 percent in constant-currency terms, topping Wall Street estimates. Global e-commerce sales grew 23 percent for the period.
Macy’s Receives List of Board Nominations from Rejected Buyout Suitor
Macy’s formally rejected the $5.8 billion bid from Arkhouse and hedge fund Brigade Capital on January 21. Financing, or the lack of a solid plan to secure it, was called out as the primary reason.
Adidas Revamps Supernova Franchise + Adds Men’s and Women’s Apparel
The Supernova franchise includes the Supernova Rise, with two new models, the Supernova Solution and Stride, complemented by matching apparel for men and women.
Spenco launches Golf Stability Insole
“These insoles offer a unique solution for golfers who want to enhance their performance and enjoy their game more.” —Michael Polk, CEO of Implus
EXEC: Rip Curl, Oboz Down Sharply in Fiscal H1 Against Tough Comps
KMD Brands Limited, the parent company of Kathmandu, Oboz and Rip Curl, reported a preliminary update of its results for the 2024 fiscal first half ended January 31.
Brunt Workwear Moving into Wholesale Market to Expand Reach
On the heels of its third straight year of triple-digit growth, Brunt said it is breaking from its DTC exclusivity with 23 wholesale partners across the U.S.
EXEC: Nike Inc. Set to Cut Approximately 1,600 Jobs in Restructuring Effort
As part of the company’s broad restructuring program, which it first announced in December, Nike will cut about 2 percent of its workforce to lower expenses as demand for the brand comes under pressure.
EXEC: Sebago, Superga, Briko Parent Sees Sharp Global Declines Cut Into Royalties
BasicNet S.p.A., the parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands, reported aggregate sales of Group brands products declined 10.4 percent to €1.14 billion. The Americas region fell 35 percent.
Blain’s Farm & Fleet Recognized by Forbes as Best Employer for Sixth Consecutive Year
“Realizing this survey is based on evaluations from our associates and neighbors, I am incredibly proud of their enthusiasm for this company, six years in a row.” —Mark Hasting, President, Chief Commerce and Operating Officer, Blain’s Farm & Fleet
January U.S. Census Bureau Retail Data Shows Consumers ‘Still Engaged’
January prices for goods reportedly came down, which affects sales figures even if the same number of items are sold, and increased prices for services pulled dollars away from retail purchases.
