China’s Economic Growth Accelerates With Consumption Boost
According to China’s National Bureau of Statistics, China’s economy grew 4.5 percent in the first quarter. The accelerated growth marked the fastest pace in a year and relieved Nike, Adidas, VF Corp., and several industry-leading vendors with heavy exposure in the world’s second-largest economy.
Nike And Jordan Combine For 75 Percent Share Among NBA Players
Nike-branded shoes were worn by 67.2 percent of players in the NBA this past regular season, while its Jordan brand was third with 7.5 percent, according to new data compiled by BasketballInsiders.
OrthoLite Names OrthoLite Cirql Development And Commercialization Director
OrthoLite hired Marc Kronenberg as development and commercialization director for OrthoLite Cirql working from its headquarters in Ho Chi Minh City, Vietnam.
Academy Sports + Outdoors To Open New Store In Lafayette, IN
Academy Sports + Outdoors reported it will open its first store in Lafayette, LA, on April 21. The approximately 60,000-square-foot store marks the first retail store the company will open in 2023.
Yue Yuen Enters India In Move To Diversify Footwear Manufacturing
Yue Yuen reported diversifying its footwear manufacturing capabilities by entering India to access labor and as it looks for access to manufacturing outside of China. Yue Yuen is China’s largest athletic and outdoor footwear manufacturer, serving some of the more iconic brands in the U.S. and European markets.
Nike Becomes Presenting Sponsor Of MLB’s RBI Program
Nike, Inc. announced a partnership with Major League Baseball as the presenting sponsor of the Reviving Baseball in Inner Cities (RBI) Program, the MLB’s youth initiative to provide baseball and softball playing opportunities for kids living in areas that are underserved.
SFIA: Sporting Goods Industry’s 2022 Growth Boosted By Inflation
The Sports & Fitness Industry Association (SFIA) released its 2023 State of the Industry Report, showing 4.3 percent revenue growth in U.S. wholesale sales of athletic footwear, apparel, sports and fitness equipment, and licensed products in 2022.
Crocs’ Chief Legal Officer Sets Plan To Retire
Crocs, Inc. reported in a regulatory filing that Daniel Hart, the company’s executive vice president, chief legal and risk officer provided notice of his intent to retire, effective April 1, 2024.
REI To Close Portland Pearl District Store, Blames Theft
REI’s Portland, OR flagship store, located in the Pearl District, will be permanently closed due to crime and concerns for employee and customer safety concerns.
Study: Global Supply Chain Volatility Falls To Lowest Level Since July 2020
The GEP Global Supply Chain Volatility Index concluded that global supply chains operate more efficiently today, signaling the lowest stress level since July 2020.
Reports: Retail Ecommerce Ventures Exploring Bankruptcy
Retail Ecommerce Ventures, LLC (REV), a capital marketing company founded in 2019 and that acquired the intellectual property of Modell’s Sporting Goods, Pier 1 Imports, RadioShack, and other retail banners, hired Kirkland and Ellis to explore restructuring options, including a bankruptcy.
Nordstrom Adds Former Nike COO To Board
Nordstrom, Inc. appointed Eric Sprunk, former chief operating officer of Nike, Inc., to its Board of Directors, effective immediately.
Mammut North America Hires Three Key VP Roles, Promotes Three Others
Mammut hired three new VP-level roles to its North American team structure to drive growth across sales, operations, marketing, and partnerships. Recent promotions include Leah Simkoff to VP of finance, Ian Armstrong to national sales director and Collin Jenkins to commercial director.
Dr. Martens Issues Profit Warning
Dr. Martens issued its profit warning for the fourth quarter as it faced higher-than-expected costs at a new Los Angeles (LA) distribution center.
Nordstrom Appoints Chief Technology And Information Officer
Nordstrom, Inc. hired Jason Morris as chief technology and information officer, effective May 1, overseeing technology functions, including engineering, data science and analytics.
