EXEC: Nike Inc. CEO Expects $1 Billion Hit from Tariffs; Sees Turnaround Progressing as Planned
Nike, Inc. continues to face headwinds in its turnaround efforts, including an estimated $1 billion hit from tariffs. However, the company’s first-quarter guidance came in better than expected. Nike officials told analysts that its steps to reengage wholesale partners are paying off, with holiday bookings up. Shares of Nike in mid-day trading Friday, June 27, were up about 17 percent.
Nike, Inc. Beats Wall Street Estimates for Q4 Top- and Bottom-Line Declines
While the company produced a beat on both the top- and bottom-line consensus Wall Street estimates for the period, many analysts appeared more interested in the fiscal 2026 full-year guidance, which was not provided in the initial release of Q4 and full-year figures.
U.K.-Based Footwear Distributor Gardiners Acquires Dubois
U.K.-based footwear distributor Gardiners Group has acquired European footwear distributor Dubois in a strategic move to expand its offering into Europe.
FDRA Elects New Board Leadership for 2025/27 Term
The newly elected leadership for the 2025–2027 term includes Josue Solano, CEO of BBC International, as Board chair; Dan Friedman, chief sourcing and supply chain officer at Caleres, as vice chair; and Lisa Tucker, president of Shoe Show, Inc. as treasurer.
EXEC: Hibbett Parent JD Sports to Open More JD Stores in Spain
The UK-based owner of the JD, DTLR, Shoe Palace, Finish Line, and Hibbett retail brands in the U.S. has 130 stores in Spain operating under the Sprinter banner.
Survey: Early Back-To-School Shoppers Noticing Higher Prices
A survey of parents who have started back-to-school shopping conducted by Morning Consult found that 57 percent believe school supplies cost more this year than they did last year. A majority (59 percent) noted that inflation in general as the cause for the price increases, while 37 percent cited tariffs specifically.
Compass Diversified Reports Inability to Rely on 2022 and 2023 Financial Statements
The owner of the 5.11, Boa, Oxo, and Primaloft brands disclosed on Wednesday, June 24, its non-reliance on its financial statements for fiscal years 2022 and 2023 amid an ongoing investigation into its subsidiary Lugano Holding, Inc. The investigation does not involve CODI’s other subsidiaries.
EXEC: Topo Athletic CEO Tony Post Talks Meteoric Growth for the Running Brand
SGB Executive talks with Topo Athletic’s Founder and CEO Tony Post about the brand’s momentum, recent product wins, its partnership with DBI, tariff turmoil, and future opportunities.
On Outsole Partner Novoloop Raises $21M to Scale Circular Performance Materials Tech
By chemically upcycling post-consumer polyethylene into low-carbon polyols and polyurethanes, Novoloop produces sustainable materials for footwear, apparel, sporting goods, automotive, and other applications.
Adidas Appoints New GM for India
Vijay Chauhan, most recently SVP International at American Eagle Outfitters, joins Adidas as GM for India, effective August 1. He will succeed Neelendra Singh, who is stepping down after over two decades with the company.
Decathlon Closing Five Greater Toronto Area Stores
Decathlon is closing its five stores in the Greater Toronto area this summer. The retailer provided no reason for the closures, but the French sporting goods chain stated in a media release that it had recently launched same-day delivery and is considering opening smaller store formats or adopting a wholesale distribution model to serve the region.
Mark Walter to Acquire Majority Stake in the NBA’s Los Angeles Lakers
Chairman and CEO of TWG Global, Walter reached an agreement with the Buss Family Trust to acquire a majority stake in the NBA’s Los Angeles Lakers. The sale is expected to close in the third or fourth quarter of 2025.
Primark Continues U.S. Growth with Memphis, TN Store Opening
The Memphis location, opening July 24, is the first of two planned store openings in Tennessee for Primark, with a second store set to open in the Cool Springs Galleria in Franklin, TN. The opening marks the retailer’s 31st U.S. store, now spanning 13 states.
Carbitex Appoints VP of U.S. Sales
Hanna brings over 12 years of experience in advanced materials and textiles, most recently as director of Innegra sales at Quantum Materials, LLC, and previously as president of Innegra Technologies.
Bobs From Skechers Awards Paws for a Cause Design Scholarships
The philanthropic brand commemorates 10 years of its animal lifesaving mission with new Paws for a Cause scholarship winners’ styles, pet adoption events, grant donations, and register round-ups for shelter pets in need.
