August U.S. Consumer Confidence Index Decline is Highest in Two Years
U.S. consumer confidence fell the most in two years as pessimism on the labor market, higher borrowing costs and stubborn inflation curbed optimism. The Conference Board continues to expect a recession before the year’s end.
Express, Inc. Names Atwood Footwear Creative Director
Express, Inc. hired Brian Atwood as creative director of footwear, overseeing women’s and statement men’s footwear.
MC Sports’ Mort Finkelstein Passes Away
Mort Finkelstein, the co-founder of the MC Sports chain, passed away on August 17. He was 93.
Active Brands Group Hires E-Commerce Manager
Sweden-based ABG hired Rohan Callander as e-commerce manager responsible on expanding the DTC business for its portfolio of brands.
DSW Parent Company President to Depart
Designer Brands, Inc. said in a regulatory filing that William Jordan, president of the company and president of Camuto LLC, is stepping down from his positions with the company on or before December 1, 2023.
Wolverine’s Debt Ratings Lowered by Moody’s
Moody’s Investors Service downgraded the debt ratings of Wolverine World Wide, Inc., reflecting the company’s significant earnings decline in Q2 2023 and Moody’s expectations for continued weak near-term performance. S&P Global Ratings similarly recently reduced its rating.
EXEC: Active Lifestyle Well Represented on 2023 Inc. 5000 List
Golftec, Xero Shoes, SylvanSport, Stinger Sports, Bases Loaded and GiantMouse are brands in the wide range of companies in the active lifestyle space to land in Inc’s 5000 for 2023 annual ranking of the fastest-growing private companies in America—a snapshot of companies’ performance from 2019 to 2022.
Shoe Carnival Reduces Outlook on Weakness in Urban Markets
Shoe Carnival, Inc. slightly lowered its outlook for the year as second-quarter earnings and sales missed analysts’ estimates. The family footwear chain said that while overall conditions improved from earlier in 2023, soft traffic results continued within lower-income households and urban markets to lead to a 6.5 percent same-store decline in the quarter.
EXEC: Symphony Holdings Warns of Increased Loss for H1 Period
The company is the owner of the trademark and patent of compression wear brand Skins. The Group also operates the Pony footwear brand in APAC countries, excluding China and Taiwan regions, with Iconix International Inc.
BTS Study: Nike Losing Ground With Retailers as Others Gain Favor
Nike continues to be the most popular brand at retail for back-to-school (BTS) footwear by a wide margin, according to Stifel’s 16th Annual Back-to-School Athletic Footwear Survey of major athletic footwear sellers.
Report Forecasts Flattish Online Growth in U.S. for Holiday 2023
Salesforce’s 2023 Holiday Forecast calls for 4 percent global and 1 percent U.S. year-over-year online sales growth across November and December, reaching $1.19 trillion and $273 billion, respectively.
OrthoLite Bolsters Sales Team in China
OrthoLite added to its sales management team in China, appointing Chuck Yu as director of sales strategy and John Liu as sales manager.
Golf Rounds Played Climb in July
Rounds of golf played advanced 3.2 percent in July and are running up 5.0 percent for the first seven months of 2023, according to Golf Datatech.
Authentic Reaches Deal for Hunter Boots IP in China
Authentic reached an agreement for Baozun, Inc. to acquire the intellectual property rights to Hunter boots for distribution in China and Southeast Asia.
EXEC: Department Stores Stung by Apparel Category Woes
Macy’s, Nordstrom, Kohl’s, and Dillard’s saw sales decline in the second quarter as the retailer’s core apparel category faced promotional pressures and weak demand. The active category was a bright spot for Nordstrom, but continued to struggle at Macy’s and Kohl’s.
