Rocky Brands Announces New Share Repurchase Program
Rocky Brands Inc. announced that its board of directors has approved a new share repurchase program of up to $7.5 million of the company’s outstanding common stock.
Four Questions: Matt Highby, President, Highby Outdoors
In early February, a number of former Cabela’s employees, led by Matt Highby, officially launched Highby Outdoors, an e-commerce site focusing on hunting and outdoor gear. SGB talked to Highby about what inspired the concept.
Berkshire Hathaway Sees 4.6 Percent Gain in Apparel/Footwear Sales in 2018
Berkshire Hathaway reported apparel and footwear revenues increased 4.6 percent in 2018 to $4.3 billion, primarily due to increased sales volume at Brooks Sports and Garan.
U.S. And China Near Deal
The U.S. and China are close to a trade deal that could lift most or all U.S. tariffs, according to multiple reports.
Skechers Mocks Nike With “Just Blew It” Ad
Skechers ran an in Sunday’s New York Times lampooning Nike’s widely-covered shoe malfunction that saw star recruit, Zion Williamson, injure his knee when a Nike model ripped apart.
Wolverine Worldwide Partners With Xtep International To Support China Growth
Wolverine World Wide, Inc. announced the company has entered into a joint venture agreement with Xtep International Holdings Limited, a leading Chinese sportswear retailer, to develop, market and distribute Merrell and Saucony products in mainland China, Hong Kong and Macau.
Report: Under Armour To Lay Off 50 At Headquarters
Under Armour is laying off 50 people at a headquarters in Baltimore as part of the cuts it announced last year.
Iconix Appoints CFO
Iconix Brand Group Inc. announced that John T. McClain has been appointed chief financial officer.
Foot Locker Scores Best Quarterly Comp Since 2014
With hot sellers ranging from Adidas Yeezy to Jordan, Nike’s Max Air, Fila and Champion, Foot Locker Inc. belted out a 9.7 percent same-store gain in the fourth quarter – its best quarterly gain since the fourth quarter of 2014. Fourth-quarter earnings and 2019 guidance also arrived well ahead of expectations. Some setbacks include the planned closing of its SIX:02 women’s chain and more impairment charges for Runners Point, but a bigger investment has been made into in Carbon38, the women’s activewear upstart.
Foot Locker Smashes Wall Street’s Targets In Q4
Foot Locker Inc.’s fourth-quarter earnings came in well above Wall Street’s consensus estimate as same-store sales surged 9.7 percent. Said Dick Johnson, CFO, “The fundamentals of our core business remain strong and led to meaningful improvement in our financial results, not only during the fourth quarter but throughout 2018.”
Adidas Signs NFL Draft Prospects
Adidas announced new multi-year partnerships with Marquise Brown, WR from Oklahoma and Hakeem Butler, WR from Iowa State.
Nordstrom’s Q4 Impacted By Weakness At Full-Price Stores
Nordstrom reported earnings before interest and taxes (EBIT) slid 4.9 percent in the fourth quarter due to soft sales at its full-price stores that led to markdown pressures.
Gap To Spin Off Old Navy
Gap Inc. announced plans to create two independent publicly traded companies: Old Navy and a yet-to-be-named company which will consist of the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City.
Rack Room Shoes Appoints New Director Of Merchandising
Rack Room Shoes announced Melanie Ortlieb has succeeded industry veteran Dan Crawford as director of merchandising.
Crocs’ Americas Sales Jump 15 Percent In Q4
Crocs Inc. reported revenues in the fourth quarter topped Wall Street’s expectations, boosted by healthy double-digit growth in the Americas region. The loss for the company in the period also came in better than expected due to cost-cutting initiatives.
