Bain Forecasts Record Black Friday/Cyber Monday Sales
U.S. retail sales over Black Friday – Cyber Monday (BFCM) weekend may set a new record, surpassing $75 billion in sales, according to a forecast from Bain & Company. The weekend is expected to deliver year-over-year growth of around 5 percent, outpacing Bain’s overall holiday sales growth forecast of 3 percent for the entire holiday season.
Golden Goose Debt Ratings Affirmed After Suspended IPO Process
S&P Global Ratings affirmed Golden Goose SpA ‘s debt ratings and removed the ratings from CreditWatch Positive as the Italy-based luxury footwear company has suspended its plans to undergo an initial public offering (IPO).
Sqairz Secures Strategic Investment to Expand Across Sports
Golf footwear upstart Sqairz announced a “significant” strategic investment from Thirty-5 Capital. The funding will be used to help Sqairz expand across multiple sports, including baseball and pickleball.
EXEC: JD Sports Reports Fidelity Subsidiaries Fall Below 5 Percent Voting Rights
FMR LLC has seen its voting rights percentage fall below the 5 percent threshold for reporting purposes to 4.95 percent of JD voting rights. JD Sports is the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail brands in the U.S.
Association of Golf Merchandisers Adds Vendor Advisory Board Member
Susan Shade is an industry veteran with over 30 years of professional management experience in apparel, golf, fitness, and e-commerce. At Tharanco Lifestyles, Shade oversees the golf division, which includes distributing the Greg Norman Collection to over 50 countries.
Puma Signs Tyrese Haliburton to Multi-Year Shoe Deal
The shoe deal also sees him as the brand’s “face” in basketball. In 2022, when he was a rookie, he signed with Nike.
EXEC: Footwear Retailers Score Winning Fiscal Q2; BTS Had Solid Start
SGB Media wraps up the fiscal second quarter for footwear sales, as retailers generally delivered a healthy performance across the specialty, family footwear, and sporting goods space—with many helped by strength in athletic brands and a good start to back-to-school selling.
Nike to Replace Under Armour as Wichita State Sponsor
In partnership with BSN Sports, Nike signed a five-year agreement to provide on-field and training gear for 16 varsity sports, beginning July 1, 2025.
NuOrder by Lightspeed Appoints New Head of Revenue
Chris Akrimi, most recently, was the CEO of The Layer, a tech company that “transforms commerce data through AI. ” There, he focused on positioning the company at the “forefront of AI-driven product data management.”
Footasylum Secures Funding to Drive Expansion
The company secured a £35 million ($46 mm) revolving credit line from HSBC to support expansion and sustainability initiatives, and set a goal to achieve carbon net zero for Scope 1 and 2 emissions by 2030 and Scope 3 by 2040.
JCPenney Bogged Down by Soft Traffic in Q2
The retailerr eported a net loss of $96 million in the second quarter, which ended August 3, as same-store sales declined 7.7 percent. The loss compares with earnings of $19 million a year ago. Net sales declined 8.9 percent to $1.53 billion from $1.68 billion.
Adidas’ UK Sales Fall 9 Percent in 2023
Companywide, Adidas’ sales in 2023 declined 5 percent to €21.4 billion in Euro terms with flat currency-neutral revenues. The discontinuation of the Yeezy business represented a drag of around €500 million on the year-over-year comparison during 2023.
EXEC: Outdoor Industry Association Partners With Switchback Trade Show
OIA ended its 30-year partnership with Outdoor Retailer trade show this past July and will now support a twice-annual outdoor trade show. The year-round partnership will debut at the inaugural Switchback Spring in Nashville, TN from June 16 to 18, 2025.
Long-Time Nike Board Member Douglas Houser Passes Away
Douglas Houser, an attorney who incorporated Nike and served on the company’s Board of Directors for 50 years, passed away at the age of 89.
Mytheresa to Acquire Yoox Net-a-Porter from Richemont
Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments. The transaction will create a multi-brand digital group. The closing of transaction is expected to be in H1 2025.
