Li & Fung Acquires UK-Based Hosiery Supplier Orrsum
Hong Kong-headquartered supply chain management company Li & Fung has acquired Orrsum, a UK-based manufacturer of hosiery, underwear and loungewear, for an undisclosed amount.sed sum. Founded in 1998, Orrsum reports that it produces over 50 million pairs of socks for distribution to more than 5,000 retail doors worldwide each year.
Centric Brands Appoints President of Kid’s Division
Based in New York, Rob Smith will report directly to CEO Jason Rabin as president of the company’s Kids’ Division and join the company’s executive leadership team. He replaces Steve Pinkow who has served as Kid’s Group president for 17 years.
Survey: Asics, Bass Pro, Golf Galaxy, Red Wing, and Timberland Make U.S. Best Retailers List
Red Wing Shoes came in at the top of the active lifestyle brands as the brand ranked No. 6 overall, while Golf Galaxy ranked No. 7 in the survey’s report. Other retailers in the active lifestyle space with high rankings in the survey included Asics (17), Timberland (19) and Bass Pro (25).
Asics Recommits to Boston; Signs Lease on Downtown Office Space
The company has signed a lease to occupy 44,000 square feet of office space at 179 Lincoln Street in downtown Boston, a slightly smaller location compared to its nearby Boston headquarters, which measures 60,000 square feet and opened in 2018.
Authentic Brands Group Warns Market of Employment Scam
These scams are often initiated via email, employment websites and social media, and may include fake interview requests, offer letters or attempts to collect personal and financial information.
Raleigh’s Runologie Shutters
The only independently owned and operated specialty running store in Raleigh was located at 1614 Automotive Way near the Mordecai neighborhood. The store closed on June 30
NRF Chief Economist to Transition to Senior Economic Advisor
Jack Kleinhenz, the NRF’s chief economist since 2010, is stepping down to serve in a new capacity as senior economic advisor. NRF Executive Director of Research Mark Mathews will become NRF’s new chief economist while continuing to lead the research team.
Lululemon Opens First Store in Italy
Located at Vittorio Emanuele II 24/28, the store spans roughly 5,700 square feet across two floors and officially opens July 19. The store’s product line supports yoga, running, training, tennis, and golf.
June Retail Sales Top Expectations
Retail sales rose a better-than-expected 0.6 percent in June versus May, the Commerce Department reported, after two consecutive months of spending declines. June’s number topped the 0.2 percent gain economists projected in a FactSet poll.
EXEC: Sports Direct’s Solid Full Year Performance Offset by Other Parent Company Factors
U.K.-based Frasers Group, the parent of Sports Direct, Everlast, and Evans Cycles, among many others, reported a 7.4 percent decline in sales for its fiscal year ended April 27, as continued sales growth from Sports Direct was offset by moves to right-size other sports banners and weakness in its luxury segment.
NOCSAE Finalizes First Performance Standard for Youth Football Helmets
The standard is the result of over 10 years of NOCSAE-led effort and funding to support scientific research, testing, and analysis to establish sufficient youth-specific data and testing criteria necessary to develop the standard.
NRF’s Chief Economist Transitions to Senior Economic Advisor
The National Retail Federation announced on Thursday, July 17, that Jack Kleinhenz, NRF’s chief economist since 2010, is stepping down to serve in a new capacity as senior economic advisor. NRF Executive Director of Research Mark Mathews will become NRF’s new chief economist while continuing to lead the research team.
Nike’s Artificial Intelligence VP is Departing
Jason Loveland, Nike Inc’s VP of enterprise AI/ML engineering, is exiting his post as Nike confirmed layoffs in May at its technology division as part of a broader restructuring.
Saks Global Appoints CFO
Saks Global appointed Brandy Richardson, formerly at Tailored Brands and Neiman Marcus, as chief financial officer, effective August 18.
KeyBanc Q2 Footwear Survey Finds Nike, Adidas and Hoka Trending Up
The survey of 1,001 U.S. adults conducted between June 25 and July 7, explored respondents footwear ownership, preferences, spending, and outlook. Among demographics, the Top 2 favorite brands for men and women, in order, were Nike and Adidas.
