Puma’s Q2 Earnings Down, Sales Up Despite North America Decline
Second quarter earnings declined on higher costs and currency effects despite an 11 percent currency-neutral sales gain for the period. However, earnings topped analyst expectations on strength in China, Europe and Latin America.
U.S. Consumer Confidence Jumps to Highest Level in Two Years
The Conference Board’s monthly Consumer Confidence Index hit 117 in July, rising from 110.1 the month before. The index increased for the third consecutive month, bounding even higher after a sharp upswing in June.
Xero Shoes Taps 20-Year Footwear Vet as Chief Product Officer
Xero Shoes hire Michael Pao as chief product officer, effective immediately. Pao’s hire comes as Dennis Driscoll, Xero Shoes’ chief product officer, retires after a nearly 50-year career in the footwear industry.
RG Barry Hires Director of Merchandising for Dearfoams
RG Barry, the parent company of the Dearfoams and Baggalini brands, tapped long-time footwear industry vet Bradley George as director of merchandising for the Dearfoams brand.
Retail and Vendor Business Groups Say Court Erred in China 301 Tariff Case
The NRF, AFAA, FDRA and other business groups urge The U.S. Court of Appeals to reverse judgment and vacate List 3 and List 4A China Section 301 tariffs.
UPS and Teamsters Reach Five-Year Deal, Averting Strike
UPS and the International Brotherhood of Teamsters, representing about 330,000 UPS employees in the U.S., have reportedly reached a tentative collective bargaining agreement.
Report: U.S. Footwear Sales Slip in Q2 Despite Performance Footwear Growth
U.S. footwear industry sales revenue was down 5 percent in the second quarter to $10.3 billion, versus Q2 2022, according to Circana. Declines in leisure and fashion categories were offset by gains in performance footwear.
Academy Sports To Open Store in Fredericksburg, VA
Academy Sports and Outdoors, Inc. will open its first store in Fredericksburg, VA, in the fall of 2023; this is the retailer’s second store in Virginia. The store’s footprint is over 77,000 square feet.
LVMH to Sponsor 2024 Olympic Games in Paris
Luxury brand giant LVMH signed on as a premium partner for the Paris 2024 Olympic and Paralympic Games with its jeweler Chaumet designing the medals and fashion brands Louis Vuitton, Dior, Berluti and Sephora, as well as its Moët Hennessy wines and spirits division marketed during the games.
Adidas Ups Full-Year Guidance After Prelim Q2 Results Show Yeezy Sales Bump
Adidas now expects currency-neutral revenues to decline mid-single-digits in 2023, compared to prior guidance of a high-single-digit decline. Adi now expects to report an operating loss of €450 million in 2023 compared to the previously guided loss of €700 million.
Asics North America Names VP of U.S. Sales
Asics North America hired industry veteran Michael Dougherty as vice president of U.S. sales, effective immediately. He has over 15 years of global footwear industry experience, including at Clarks and New Balance.
Columbia Sportswear Company Hires Director of Strategic Accounts
Columbia Sportswear Company hired long-time Reebok and Adidas sales pro Dave Stellick as director of strategic accounts.
Adidas Outdoor North America GM Departs
Michael Kadous, North America’s senior director and GM for Adidas Outdoor, Terrex and Five Ten since March 2019, exited the brand.
361 Degrees Expands Spain Distribution with VC Sport
361 Degrees International reported it tapped VC Sport as its distributor for the 361º brand in Spain. The company will initially distribute the 361º basketball shoes this summer and expand the range to include running and lifestyle categories in 2024.
Report: Adidas Seeing Healthy Demand for Unsold Yeezy Product
Adidas has orders worth more than €508 million ($565 million) for 4 million pairs of unsold Yeezy shoes, exceeding the company’s “most optimistic forecast,” according to a new Financial Times report. Healthy demand for the first batch of online sales could help Adidas avoid a major write-down on its remaining stock.
