Puma Makes Leadership Appointments in Europe
Puma has appointed Javier Ortega as general manager Europe, effective September 1. Esteve Planas will succeed Ortega as area general manager for Southern Europe.
Wolverine World Wide’s Debt Ratings Lowered by S&P
S&P Global Ratings reduced the debt ratings of Wolverine World Wide, Inc. as the footwear manufacturer continues to underperform its expectations with “tough industry headwinds to continue to pressure the company’s operating performance at least over the next several quarters.”
Dansko Appoints New President; Fox Transitions to Exec Chair
Dansko promoted Kitty Bolinger to president, effective September 5. Bolinger is currently Dansko’s EVP of sales & marketing. Concurrently, Dansko’s CEO, Jim Fox, will transition to the newly created role of executive chairman.
Urban Outfitters Profit Jumps 75 Percent in Second Quarter
Profits at Urban Outfitters, Inc. surged 75.0 percent in the second quarter ended July 31 as sales grew 7.5 percent and margins benefited from higher initial markups and lower markdowns.
EXEC: Anta Sports Gets Fila Lift in H1 as Sales Growth, Op Profit Margins Jump
The company, which runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports, reported that Fila brand retail sales posted 13.5 percent year-over-year growth in the first half.
EXEC: Under Armour to Return to Macy’s Locations
Macy’s reported that select Under Armour men’s product will be available in 150 stores and online, beginning in February 2024, building on the return of Nike apparel to the department store operator.
EXEC: Xtep Intl Posts Double-Digit H1 Increase Despite Slowing China Growth
The company, which operates retail stores in China for K-Swiss, Palladium, Merrell, and Saucony, in addition to Xtep brand stores, reported that retail sell-through growth in the first half increased nearly 15 percent.
Foot Locker, Inc. Posts Q2 Loss, Cuts Outlook as Sales Fall and Margins Contract
The retailer is pausing its cash dividend payments in the fall after reporting sharp Q2 declines in total sales and comp sales, a loss in GAAP net income, slimmer margins, and a business that reportedly softened further in July.
Kohl’s Q2 Earnings Fall on 5 Percent Comp Decline
Kohl’s reported profits in the second quarter dropped 54.1 year-over-year as same-store sales declined 5.0 percent. Earnings were ahead of analysts’ estimates with the benefit of tight expense and inventory controls and continued growth at its in-store Sephora shops. Guidance was reiterated for the year.
Allbirds Names Canadian Distributor
In-Sport Fashions, a Canadian distributor of specialized lifestyle, athletic and outdoor products, entered into an exclusive partnership with Allbirds, effective September 15.
EXEC: Dick’s CEO Talks Q2 EPS Miss, Inventory Woes, Retail Theft and Staff Cuts
Shares of Dick’s shaved about a quarter of their value on Tuesday after America’s largest sporting goods chain reported a second-quarter profit shortfall and slashed its earning guidance for the year due to promotions required to clear inventories, particularly in the outdoor category, and higher-than-expected shrink.
Dick’s SG Lays Off Corporate Staff to Streamline Cost Structure
A source told Bloomberg News that Dick’s had laid off 250 corporate employees as part of the plan. Retail staff were not impacted.
Academy Sports + Outdoors to Open First Indianapolis Store
The approximately 75,000-square-foot store will sell a wide assortment of sports and outdoors merchandise. The retailer will host a grand opening from August 25-27.
Citi Trends Posts Q2 Loss on 5.3 Percent Comp Decline
Citi Trends reported a wider loss in the second quarter year-over-year as same-store sales fell 5.3 percent. The urban fashion discount chain noted that the quarter marked significant sequential same-store sales improvement from the first quarter while reiterating guidance for the year.
Macy’s Rolls Out Four New Small Format Stores Across West and Northeast
The move marks the first expansion of its small-format locations into the Northeast and Western regions of the U.S., with openings in Boston, Las Vegas and San Diego.
