Survey: What is the Price Increase Cutoff for Consumers to Drop a Purchase?
A recent survey conducted by ESW, compiled in “Impact of Tariffs on Purchasing Decisions,” reveals that 6 in 10 U.S. consumers will not absorb a 10 percent or greater increase in pricing at checkout due to tariffs.
Gearhead Outfitters Closes Store in Kansas
The closing of the Olathe store is part of a “broader strategic review” of the Arkansas-based, family-owned and operated retail company’s overall national footprint. The nearby Overland Park store will remain open.
Manchester United’s Commercial Revenues Expand 7 Percent In Fiscal Q3
The professional football club based in Manchester, England, reported commercial revenue for the fiscal third quarter ended March 31 was £74.7 million ($101 mm), an increase of 7.3 percent over the prior-year quarter.
Dick’s SG Seeks to Make Debt Exchange with Foot Locker as Part of Acquisition Deal
The U.S. retailer of sports equipment, apparel, footwear, and accessories, is offering to exchange its debt for Foot Locker’s $400 million outstanding debt as part of its pending acquisition.
EXEC: Lululemon Shares Hurt by Analyst Price Target Cuts
Shares of Lululemon Athletica Inc. are down about 20 percent in mid-day trading on Friday, June 6 after the yoga-themed retailer trimmed its earnings guidance for the year as proposed tariffs threaten its supply chain. Lululemon officials on an analyst call remained bullish on Lululemon’s ability to manage the disruption. Calvin McDonald, company CEO, said, “We intend to leverage our strong financial position and competitive advantages to play offense.”
Puma Golf Reimagines the Helsinki for On-Course Performance
The Helsinki G comes in five colorways, featuring technical upgrades, that moves the shoe seamlessly into golf, backed by purposeful innovation.
Bass Pro Shops to Open New Outpost in Muncy, Pennsylvania
Bass Pro Shops will have four stores in Pennsylvania following the completion of the 75,000-square-foot Outpost store in Muncy, which is part of the redevelopment of a former Lycoming Mall property into “The District.” The design approach for The District will “emphasize community character, outdoor heritage and a sense of place.”
Zumiez’s Q1 Tops Guidance, Comps Climb 5.5 Percent
Zumiez Inc. reduced its net loss in the first quarter ended May 3 as same-store sales improved 5.5 percent on strong full-price selling. Sales topped Zumiez’s forecast for the quarter while earnings were in line.
Report: StockX Puts More Protections in Place to Stymie Counterfeiters
Study findings highlight the growing interest among consumers in a wider variety of footwear brands and an increased demand for affordable, general release sneakers. This marks a significant shift; in previous years, the most counterfeited products were typically exclusive, rare, and expensive releases.
Study: Why Retailers Risk Loyalty with Tariff-Based Price Hikes
While most retailers won’t be able to avoid raising prices altogether, unilateral price increases are a surefire way to lose customer confidence and trust. First Insight believes there are more informed ways of approaching pricing strategies and offsetting the burden on customers.
The Buckle’s May Comps Jump on Double-Digit Women’s Growth
Buckle said men’s sales increased 1.0 percent with overall price points on the men’s side of the business up about 2.5 percent. Women’s sales jumped 17.5 percent with overall price points increasing about 4.0 percent.
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.
