Deloitte Predicts Back-to-School Spending To Reach All-Time High
Back-to-school seasonal spending is expected to reach an all-time high while back-to-college spending is expected to climb 10 percent year over year, according to Deloitte’s annual forecasts.
June Retail Sales Increased Despite Rising Inflation
Retail sales increased in June even as inflation climbed higher and drove up prices across the board, the National Retail Federation said.
Nike Style Store Opens In Seoul
Nike opened its first Nike Style store in the South Korean capital’s Hongdae neighborhood to “serve a distinct sport lifestyle audience through the lens of style, featuring gender-agnostic zones for fleece, tops, footwear, accessories, and other style-led collections.”
Heydude Gets A Brand Refresh
Footwear label Heydude has a “fully revamped brand identity to reach new and existing fans.” Crocs purchased the company for $2.5 billion last December and closed the deal in February 2022.
Families Prioritize Back-to-School And College Spending Amidst Rising Inflation
As inflation continues to rise, one-third of consumers (38 percent) said they are cutting back on spending in other areas to cover the cost of items for the upcoming school year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
Prime Day 2022 Breaks Records
Amazon Prime members purchased more than 300 million items worldwide during Prime Day 2022, making this year’s event the biggest Prime Day event in Amazon’s history.
Walmart U.S. Apparel GMM To Retire
Deanah Baker, senior vice president of apparel for adults, kids, baby, and shoes, is retiring from Walmart after 32 years with the retailer.
Saks’ Survey Finds Luxury Spending Remains Healthy
Saks released its Luxury Pulse survey. The data shows that higher-income consumers who shop luxury retail have continued spending, including indulging themselves through fashion and vacation purchases. Additionally, higher-income consumers prioritize health and wellness and complement their lifestyle with luxury self-care, fitness and home products.
KMD Brands Sees 4 Percent Revenue Growth In Fiscal Year
KMD Brands, the parent of Kathmandu, Rip Curl and Oboz, said it expects total sales for the year ending July 31 to be in the range of $955 million to $965 million, representing a gain of 4 percent compared with $922.8 million a year ago.
Compass Diversified Completes Acquisition Of PrimaLoft
Compass Diversified announced the completion of the company’s previously announced acquisition of PrimaLoft Technologies Holdings, Inc., the parent company of PrimaLoft.
Crocs Secures Judgment Of Infringement Against USA Dawgs And Double Diamond Distribution
Crocs, Inc. announced a judgment of infringement against USA Dawgs and Double Diamond Distribution due to both companies’ alleged sales of copycat Crocs shoes. In addition, Crocs also obtained $6 million and $55,000 in damages, respectively, against the companies.
Columbia Sportswear Appoints Board Member
Columbia Sportswear Company announced that its board of directors appointed Christiana Smith Shi as a director and member of its Audit Committee.
Yue Yuen’s Sales Climb 6 Percent In June
Yue Yuen Industrial Limited reported net consolidated operating revenue reached $834.6 million in June, representing a gain of 5.9 percent year-over-year. Sales in its manufacturing business were up 18.7 percent while sales at Pou Sheng, its retail subsidiary in China, were down 14.7 percent.
The Running Event Delivers Mentorship Opportunities For Specialty Retailers
The Running Event announced new opportunities for specialty retail professionals leading up to #TRE22 this November 22 through December 1 in Austin, TX.
Naot Footwear To Open Manhattan Flagship Store
Naot Footwear announced it would open a flagship store in New York City’s SoHo neighborhood in early fall 2022 at 436 W. Broadway.
