The Athlete’s Foot Opens New Store Concept In Atlanta
The Athlete’s Foot (TAF) opened a “neighborhood” concept store on April 28 at Atlantic Station in midtown Atlanta, GA. Timed with the opening, the company hosted community events to elevate the “consumer experience while continuing to drive hyper-localized product assortment and community engagement efforts.”
Yue Yuen Warns On Q1 Profit Decrease As Footwear Manufacturing Contracts
Footwear manufacturing powerhouse Yue Yuen Industrial (Holdings) Limited is expected to record a decrease of 40 percent to 45 percent in profit attributable to owners of the company as compared to profit of $88.6 million for the corresponding three-month period in 2022.
Intersport France Set To Acquire Go Sport Out Of Receivership
The Grenoble Commercial Court in France has ruled that Intersport France will acquire French retailer Go Sport in partnership with Qatari firm Al-Mana. The Court’s unanimous opinion supported an Intersport/Al-Mana bid valued at €35 million.
Investors Sue Adidas Over Yeezy Partnership With Ye
Adidas is facing a class-action lawsuit filed by investors who claim the company knew about the risks of its partnership with Ye, formerly known as Kanye West, years before it terminated its relationship with the rapper over his antisemitic comments.
Nike Signs Lifetime Contract With Kevin Durant
It was reported that Phoenix Suns star forward Kevin Durant signed a lifetime contract with Nike, the third basketball player to sign the same deal behind Michael Jordan and LeBron James.
Skechers Q1 Tops Guidance On DTC Momentum
Skechers U.S.A., Inc. reported earnings rose 32.3 percent in the first quarter ended March 31 on a 10.0 percent sales gain. Strong double-digit DTC growth globally due to improved inventory availability offset wholesale declines in the Americas region. Guidance was raised as quarterly earnings and sales easily surpassed expectations.
Columbia Sportswear Narrows 2023 Profit Outlook As Q1 Profits Contract Over 30 Percent
Columbia Sportswear Company reported that net sales increased 8 percent (10 percent constant-currency) to $820.6 million in the 2023 first quarter as net income decreased 31 percent. Inventories increased 34 percent at quarter-end on elevated carryover inventory, earlier receipt of current season inventory.
The Rossignol Group Posts 28 Percent Growth For 2022/23 Financial Year
The Rossignol Group, parent of the Rossignol, Dynastar, Lange, Look, and Kerma brands, reported that revenue increased 28 percent to €401 million for the 12-month financial year period ended March 31, 2023, compared to €313 million in revenue for the prior year.
REI To Open Store On Tribal Land In Arizona
REI Co-op will open a store in Prescott, AZ in Fall 2023, leased from the Yavapai-Prescott Indian Tribe and located on tribal land at Frontier Village Center.
Skechers Acquires Its Scandinavian Distributor
Skechers has signed an agreement to acquire its existing Scandinavian distributor, Sports Connection Holding ApS.
Authentic Inks UK And Europe Deals To Manage Ted Baker Brand Business
Authentic Brands Group (Authentic) reportedly signed a long-term strategic partnership with two new operating partners for Ted Baker in the UK and Europe—PDS Group (PDS) and AARC.
Academy Names New CEO And New President As Hicks Moves To Executive Chairman Role
Academy Sports and Outdoors, Inc. announced that, as a result of a planned succession process, the following changes to its executive leadership team will be effective on June 1, 2023.
Velous Footwear Inks Sales Rep Deals Across Four Regions
Velous Footwear reportedly signed with four sales organizations in the U.S., Australia, New Zealand, Europe, and Southeast Asia to expand its sales channels and increase worldwide product availability.
Tractor Supply Sees Q1 Profit Decline As Comps Fall Short Of Plan On Weather Issues
Tractor Supply Company reported that net sales for the first quarter increased 9.1 percent to $3.30 billion from $3.02 billion in the first quarter of 2022. Comparable store sales increased 2.1 percent, as compared to an increase of 5.2 percent in Q1 last year first.
Crocs Raises Outlook On Strong First Quarter Results
Crocs Inc. reported earnings doubled in the first quarter ended March 31 on a 34 percent revenue gain. Sales gains were boosted by last year’s acquisition of Heydude and a 19.0 gain for the Crocs brand. Full-year guidance was raised due to accelerated momentum with the Crocs brand.
