Foot Locker Accelerates Asia-Pacific Expansion With Acquisition Of Atmos
Foot Locker Inc. announced it has entered into a definitive agreement to acquire Text Trading company, K.K., which owns and licenses the Atmos brand, a digitally-led retailer headquartered in Japan, for $360 million. The transaction will be funded with the company’s available cash.
Foot Locker To Acquire WSS
Foot Locker, Inc. announced it has entered into a definitive agreement to acquire Eurostar, Inc. (WSS), a U.S.-based athletic footwear and apparel retailer, which primarily operates on the West Coast, for $750 million. The transaction will be funded with the company’s available cash.
Haku Expands Office Space
Haku has moved its corporate headquarters to a larger location in Brickell, FL. The expansion comes as the company has expanded its workforce by over 85 percent since 2019.
Survey Finds Walmart Top Choice For Back-To-School
A survey from RetailMeNot found that Walmart is the most popular place to go back-to-school shopping this year, followed by Amazon and Target
Saks Off 5th Appoints Amazon Alum As COO
Saks Off 5th, which was recently spun off from Saks, has appointed former Amazon operations executive Shivi Shankaran as COO, effective August 16.
OvareVentures Acquires Pulse Boot Lab And Ski Company
OvareVentures has added to its portfolio of outdoor businesses with the acquisition of Pulse Boot Lab and Ski Company based in Revelstoke, British Columbia.
Dick’s Sporting Goods Releases 2020 Purpose Playbook
Dick’s Sporting Goods introduced its 2020 Purpose Playbook, its third annual sustainability report. The report noted that the retailer signed the “We Are Still In” initiative in support of the Paris Climate Agreement, are phasing out single-use plastic bags in stores by 2025 and is committing to reducing greenhouse gas emissions by 30 percent by 2030.
Emerald Holding Posts $47 Million Loss In Second Quarter
Emerald Holding, Inc. had a net loss of $46.5 million for the second quarter 2021 as it continues to be negatively impacted by event cancellations due to the COVID-19 pandemic.
VF Corp. Lifts Outlook On Q1 Beat
VF Corp. raised its earnings and sales guidance for its fiscal year after reporting results in the first quarter ended June 30 easily topped Wall Street targets. Overall sales in the quarter grew 96 percent in constant dollars. Among major brands, sales grew 102 percent at Vans, 83 percent at The North Face, 63 percent at Timberland and 58 percent at Dickies.
RECALL: Birkenstock Kids’ Mogami Sandals
About 15,200 Birkenstock Kids’ Mogami sandals are being recalled. A plastic rivet can detach from the sandal’s ankle strap, posing a choking hazard for young children.
Deckers Brands Blows Past Wall Street Targets
Deckers Brands reported a surprise profit in the first quarter ended June 30 as sales surged 78.2 percent. Ugg’s sales grew 70.8 percent and Hoka One One soared 95.5 percent. The company slightly raised its guidance for the year.
Columbia Sportswear Releases 2020 Corporate Responsibility Report
Columbia Sportswear Company released its 2020 Corporate Responsibility Report, which includes performance highlights and progress made throughout 2020 in the three main areas of focus in its corporate responsibility strategy – empowering people, sustaining places and responsible practices.
Puma’s Strong Q2 Led By North America
Puma reported a profit against a loss in the second quarter. Sales grew 96 percent in the second quarter with the best performances coming in footwear and in North America. The Germany-based company raised its guidance for the year although it warned about supply chain challenges.
Wolverine Worldwide Scores Record Quarterly Revenues For Merrell And Saucony
Wolverine Worldwide raised its full-year guidance after second-quarter results easily topped Wall Street targets. All-time record quarterly revenue for Merrell and Saucony drove consolidated revenue growth of 81 percent compared to 2020 and 11 percent versus 2019.
Bass Pro’s Debt Ratings Upgraded On Improving Performance In First Half
S&P Global Ratings upgraded its issuer credit rating on Great Outdoors, the corporate name of Bass Pro Group, to ‘BB-‘ from ‘B+’ as the retailer’s performance “has been resilient with sales and EBITDA growth continuing through the second quarter this year, ahead of our expectations.”
