Adidas Issues Profit Warning, Blames Ongoing China Weakness
Adidas announced preliminary results for the third quarter and reduced its full-year 2022 guidance. The company’s new outlook takes into account a further deterioration of traffic trends in Greater China as well as a significant inventory build-up as a result of lower consumer demand in major Western markets since the beginning of September, which is expected to lead to higher promotional activity during the remainder of 2022.
Al’s Sporting Goods Acquires Bob Ward’s & Sons
Al’s Sporting Goods, with three stores in Utah and Idaho, acquired all five Bob Ward & Sons, an outdoor retailer with five locations in Montana.
Foot Locker To Close Wisconsin Distribution Center
Foot Locker, Inc. notified the state and employees that it will close its distribution center in Wausau, WI, in 2023, affecting 210 jobs.
REI Co-Op To Open In Tallahassee
REI Co-op will open its Tallahassee, FL store on November 11. Located at 1415 Timberlane Road at Market Square, the store offers 22,000 square feet of space.
Red Wing Shoe Names Fourth-Generation Family Member As CEO
Red Wing Shoe Company announced that its board of directors had named Allison Gettings president and chief executive officer, effective January 1, 2023. Gettings is the great-granddaughter of J.R. Sweasy, who was president and CEO from 1921 to 1949 and the first fourth-generation family member to run the company.
Li Ning Sees High-Single-Digit Q3 Comps
Li Ning Company Ltd. reported same-store sales for its overall platform excluding Li-Ning Young stores registered a high-single-digit increase in the third quarter on a year-on-year basis.
Study Shows Women’s Sport Sponsorships Expanded 20 Percent In 2022
Sponsorship deals across women’s sports increased 20 percent year-over-year (YoY) in 2022, according to a study by sponsorship data and advertising services firm SponsorUnited. Nike and Adidas were the top brand partners for both professional and collegiate sports.
Kelly’s Running Warehouse Rebranded Road Runner Sports Runner’s Outlet
After 19 years as an independent operation, Kelly Running Warehouse has officially been absorbed by its parent company, Road Runner Sports. The move aims to streamline operations by rebranding the discount outlet as Road Runner Sports Runner’s Outlet.
Sports Excellence Names Director, U.S. Retail Development
Sports Excellence, the Canadian buying group, announced that it hired Steve Rixe as director of U.S. retail development.
New Balance To Establish Distribution Operations In Tennessee
New Balance Athletics plans to invest $68.5 million in a new distribution center in Lebanon, TN.
Xero Shoes Hires VP Of Product Development
Xero Shoes hired John Wadley as VP of product development. He comes to the company from VF Corp.’s Altra brand, where he was director of product innovation and sustainability.
Twisted X Names Senior Director Of Sales
Twisted X Global Brands, the manufacturer of Western footwear, announced it promoted Clayton Smith to senior director of sales.
The Sustainable Apparel Coalition Makes Hires
The Sustainable Apparel Coalition hired Lee Green as senior director marketing and communications and Nadia York, as chief of staff.
Skechers Sues Hermès For Patent Infringement
Skechers USA, Inc. announced that it had sued Hermès International and Hermès of Paris for patent infringement of its proprietary Massage Fit sole technology.
Vasque Adds Three Hires In Product, Merchandising And Sales
Vasque Footwear announced it added new hires in its product, merchandising and sales departments, including Brandon Gough as North American sales manager, Jess Sandrin as product line merchant and Scott Kendall as footwear designer.
