SGB Footwear

Sports Inc. Renews Partnership With OrderMyGear

Sports, Inc. renewed its partnership with OrderMyGear. Under the multi-year agreement through 2025, OMG maintains the title of Sports, Inc.’s preferred provider of online team stores and group ordering for members.

Frasers Group Forms Joint Venture To Expand In Indonesia

Frasers Group Asia announced a new joint venture agreement with PT Map Active Indonesia to launch Sports Direct in the country. The retail group said the deal is “the first step in a region-wide expansion” between the two and will see the introduction of Sports Direct’s stores across Indonesia, including both the wholesale and retail components.

Torrid Holdings Sees Q1 Net Income Halved As Comps Fall 14 Percent

Torrid Holdings Inc. reported that fiscal first quarter net sales decreased 11.8 percent to $293.9 million. Comparable sales decreased 14 percent. Net income was $11.8 million, or 11 cents per share, in the quarter, compared to net income of $24.1 million, or 23 cents per share in Q1 last year.

DSW Parent Lowers Outlook As Q1 Results Arrive Below Plan

Designer Brands, Inc., the parent of DSW, Keds and Topo Athletic, reduced its outlook for the year after reporting first-quarter results came in slightly below plan and weakening consumer trends. Doug Howe, CEO of Designer Brands, said, “”As the consumer remains cautious, we are approaching the remainder of the year and the trajectory of the recovery in our business with heightened consideration.”

NRF: Economic Conditions Look Like A Soft Landing, Not Recession

Economic indicators are giving conflicting signs but the nation does not appear to be in a recession and should be headed toward a soft landing from the rampant inflation and high interest rates of the past two years, according to National Retail Federation Chief Economist Jack Kleinhenz.