DSW’s Parent Sees Q4 Comp Decline 5.5 Percent
Designer Brands, Inc., the parent of DSW, reported earnings on an adjusted basis declined 60 percent in the fourth quarter ended January 28 as same-store sales dropped 5.5 percent. Earnings still came ahead of analyst estimates and earnings and sales showed strong improvement overall in 2022.
February Retail Sales Rise 5.4 Percent Year-Over-Year
Overall retail sales dipped slightly in February, but core spending rose, according to data reviewed by the National Retail Federation.
Nike To Stop Using Kangaroo Leather In Soccer Cleats
Nike reported it would stop using kangaroo leather in its shoes amid moves from U.S. state and federal lawmakers to ban the sale of kangaroo products.
Pou Sheng International Appoints CEO
The Pou Sheng International (Holdings) Limited board of directors re-designated Wang Jun, the acting CEO, as CEO effective March 15.
Marriott Appoints Dick’s CEO To Board Seat
Marriott International, Inc. elected Lauren Hobart, president and chief executive officer of Dick’s Sporting Goods and Grant F. Reid, former president and chief executive officer of Mars, as independent directors.
Sporting Goods Retail Industry Icon Jim Chick Passes Away
The National Sporting Goods Association shared that former NSGA board member and board chair, Jim Chick, passed away. Chick was president & CEO of Chick’s Sporting Goods, headquartered in Covina, CA, for nearly 40 years. He was a member of the NSGA board of directors from 1985 to 1994 and was the board chairman in 1992.
Nordstrom Adding Two Rack Stores In Fall 2023
Nordstrom, Inc. reported plans to open two stores in fall 2023—a Nordstrom Rack in Natomas, CA, and a Rack store in San Antonio, TX.
Reebok Partners With Macy’s
Macy’s reported it expanded its partnership with Reebok to include a broader selection of activewear and lifestyle products, including exclusive merchandise, extended sizes and collections available only at Macy’s.
OrthoLite And Novamont Create Circular Foam Material Solution For Use In Footwear
OrthoLite, the manufacturer of sustainable, performance and comfort insoles and footwear materials solutions, and Novamont, responsible for developing, producing, and eco-design of biodegradable and compostable bioplastics and biochemicals, entered into an exclusive partnership to create the OrthoLite Cirql, a circular foam material solution for footwear.
Report: New Brand Resale Index Recognizes REI, Arc’Teryx And On As Top Brands
Trove released its Brand Resale Index: Defining the Resale Experience. The Index evaluates leading practice adoptions across 40 brands in the Outdoor, Footwear, Fashion/Apparel, and Luxury categories.
OR, Surf Expo Parent Swings To 2022 Profit On Triple-Digit Revenue Growth
Emerald Holding Inc. reported significantly improved earnings and sales in the fourth quarter and year ended December 31 as trade shows continued to return to in-person events.
Famous Footwear’s Q4 Margin Weakness Impacts Parent’s Profits
Caleres Inc. reported earnings on an adjusted basis declined 33 percent in the fourth quarter as margin declines at Famous Footwear offset improvement at its Brand Portfolio segment. Famous Footwear still managed a 0.7 percent comp gain in the quarter and Caleres’ overall inventories were down 2.8 percent year over year.
Castore Sponsors First National Soccer Team
Castore, the UK sportswear brand, signed a multi-year agreement to replace Umbro as the official kit supplier and retail partner of Ireland’s national soccer teams. The six-year deal runs until 2028 and is Castore’s first with a national soccer team.
Puma Opens Running Testing Facility
Puma opened the Puma Nitro Lab, an athlete testing facility developed in partnership with Hartmann Orthopedics & Sports. Based at Hartmann’s facility near Frankfurt, Germany, the lab provides athletes with detailed, full-body insights using tests and scans, including 4D Motion analysis.
Women’s Tennis Association Secures $150M Investment
The Women’s Tennis Association announced that CVC Capital Partners, the global private equity firm, had become a commercial partner after making a $150 million investment that gave CVC a 20 percent stake in a new commercial subsidiary named WTA Ventures.
