Nike Promotes Tony Bignell to Chief Innovation Officer
Nike has confirmed reports that Tony Bignell, VP of men’s sport performance footwear, has been promoted to chief innovation officer. He replaces John Hoke who plans to retire in October.
Adidas Gets Debt Upgrade by S&P on Improving Performance
S&P Global Ratings raised its debt ratings on Adidas due to the brand’s stronger-than-expected deleveraging trend, mainly driven by the group’s sustained momentum in its underlying operating performance and cash flow generation improvements versus previous forecasts.
EXEC: Sports Direct Parent Votes Upend XXL ASA General Meeting; CEO Freddy Sobin Ousted
Frasers Group plc, who was represented with 28,776,450 shares and votes, equal to approximately 96.5 percent of the shares and votes represented at the general meeting, may be responsible for moving the managing director of Frasers Group IBML into the XXL Interim CEO role.
Lands’ End Maintains FY Guidance as Management Repositions Business, Seeks Buyer
The company posted a low-single-digit increase in Gross Merchandise Value (GMV) for the fiscal first quarter when excluding divested categories that moved to licensees while also reporting a high-single-digit decline in net revenue for the period.
Authentic Brands Group Secures Rockport Brand Distribution Partner for UK and Ireland
Authentic has inked a new partnership with Chapters Brand Group, a leading footwear distributor in the UK and Ireland, to distribute Rockport men’s and women’s footwear across the regions.
Advanced Manufacturing Group Appoints Vice Chairman
AMG, which provides supply chain services to the footwear industry, has elevated Alan Lunder to the position of vice chairman. He will continue to work closely with company Chairman and Founder Jonathan Bobbett.
Costco May Comps Grow 6.0 Percent x-Gas; E-Commerce Up 12 Percent
Excluding gas, Costco’s same-store sales in the U.S. were up 5.5 percent in the U.S. and 6.0 percent overall. E-commerce sales advanced 12 percent.
Tilly’s Q1 Same-Store Sales Retreat 7 Percent
The surf & skate chain logged a slightly wider loss in the first quarter ended May 3 as same-store sales dropped 7.0 percent. The sales decline was smaller than in the fourth quarter, with further improvement seen so far in the second quarter.
EXEC: Journeys Gets Q1 Boost from Athletics Momentum, Saucony’s Return and Hoka’s Arrival
The Journeys comp sales jump in Q1 was largely driven by strength in athletics, supported by low profile and 2000s era running inspired trends, but also bigger athletic inventory investments, including the reintroduction of Saucony and introduction of Hoka.
Under Armour Replaces New Balance as University of Denver Partner
Under Armour reached a multi-year agreement to replace New Balance as the official athletic apparel supplier of the University of Denver. The program will be managed by Game One, which replaces BSN Sports.
Adidas to Pay Fine for Safety Violations at New York Warehouse
In the settlement with the U.S. Department of Labor, Adidas will pay $235,000 in penalties to resolve violations stemming from missing guardrails and unsafe ladders at a warehouse in upstate New York.
The North Face Hit with Cyber Attack
The company discovered a “small-scale” cyberattack in April of this year, and an unauthorized party may have stolen some personal information from its customers but not their financial information, which TNF processes through a third party.
Authentic Adds Volcom and Spyder to Boardriders Japan Partnership
With the addition of Volcom and Spyder, Boardriders Japan (BRJ) now manages all retail, wholesale and e-commerce operations for eight of Authentic’s action and outdoor sports brands in Japan.
Culture Shift: Americans Are Ditching Fitness Influencers and Trusting Themselves
Rather than the ‘hustle culture’ fitness of the 2010s with its celebration of exhaustion, people are now prioritizing long-term health, injury prevention and mental well-being.
Genesco’s Fiscal Q1 Boosted by 8 Percent Comp Gain from Journeys Group
First-quarter earnings topped expectations as sales exceeded plan, led by an 8 percent increase from Journeys Group, while expenses benefited from cost-containment efforts. The performance marked the company’s third consecutive quarter of positive comparable sales gains and guidance was reiterated for the year.
