SGB Footwear

Nike Names New Converse CEO

Nike, Inc. named Jared Carver as the new CEO of Converse. He succeeds Scott Uzzell, who transitioned last week to a new role as VP/GM of North America for Nike as part of the company’s recently announced leadership changes.

U.S. Consumer Confidence Slides To Six-Month Low

U.S. consumer confidence dropped to a six-month low in May as Americans’ assessment of the labor market and the outlook for business conditions slipped, according to the Conference Board’s Consumer Confidence Index.

Foot Locker’s Debt Ratings Outlook Lowered To Negative

S&P Global Ratings lowered its outlook on Foot Locker to negative from stable as the sneaker chain lowered its full-year guidance due to a combination of inflationary pressures, higher-than-expected discounting initiatives and weak consumer spending.

Hibbett Reduces Full-Year Guidance On Q1 Miss

Hibbett, Inc. reported weaker-than-expected fiscal first-quarter earnings and narrowed its full-year guidance to reflect a more cautious consumer outlook. Mike Longo, President and Chief Executive Officer, “”Our consumers are facing a number of headwinds that range from inflation to concerns over outright job loss.”

Duluth Holdings Adds Board Member

Duluth Holdings, Inc., the parent of Duluth Trading, elected Ronald Robinson to its Board of Directors. Robinson works for Designer Brands as its chief supply chain officer.

DXL Posts Q1 Sales Decline After Strong Comp Sales Growth To Start The Year

Destination XL Group, Inc. reported total sales for the first quarter were $125.4 million, down 1.7 percent from $127.7 million in the first quarter of fiscal 2022. Comparable sales for the first quarter of fiscal 2023 increased 0.6 percent as compared to the first quarter of fiscal 2022, with comparable sales from stores up 1.5 […]