Sears Chairman Ups Bid For Sears
Sears Chairman Eddie Lampert has submitted a revised bid of roughly $5 billion in a last-ditch attempt to save the retailer from liquidation, The offer comes one day after Lampert’s initial $4.4 billion bid was rejected by the company as being financially inadequate.
SGB Industry Outlook 2019, Part 2
This is the second installment of our annual series that gauges what the industry’s key players are projecting for the coming year. Also, due to overwhelming response, we’ve extended our industry outlook to three parts due to so many of people wanting to contribute their thoughts on 2019. Look for even more commentary on 2019 in Friday’s edition of SGB Executive.
DSW Inc. Announces New Brand Presidents To Support Recent Acquisitions
DSW Inc. announced the creation of several new executive positions. The changes will create clear brand leadership following the 2018 acquisition of its Canadian business, formerly known as Town Shoes Limited (TSL), and Camuto Group.
EU Opens Probe Into Nike’s Dutch Tax Arrangements
The European Commission opened an investigation into Nike Inc.’s tax deals with the Netherlands. The probe could potentially lead to Nike having to pay back millions of euros.
OBIT Dr. Bernice Sandler
Dr. Bernice Sandler, known as the “godmother of Title IX” for her work advocating for women’s and girls rights in education and athletics, has passed away at the age of 90.
The Buckle Reports December Comps Drop Slightly
The Buckle Inc. on Thursday announced that comparable store net sales, for stores open at least one year, for the 5-week period ended January 5, 2019, decreased 0.2 percent from comparable store net sales for the 5-week period ended January 6, 2018.
Kohl’s Lifts Lower End Of Guidance On Comps Increase
Kohl’s Corp. on Thursday reported comparable sales for November and December 2018 combined. On a shifted basis, which compares the nine weeks ended January 5, 2019 and January 6, 2018, comparable sales for the Holiday period increased 1.2 percent.
Macy’s Cuts Guidance On Weak Holiday Sales
Macy’s slashed its outlook for profit, sales and gross margin, citing a weakening in sales in late-December. The company reported holiday-period same-store sales growth of 0.7 percent, compared with 1.0 percent growth in the same period a year ago.
Shoe Carnival Names McCann Agency of Record To Elevate Brand Engagement
Shoe Carnival has selected McCann as its agency of record for integrated marketing services.
Nike And Flex To End Partnership
Nike and Flex, a contract manufacturer, have agreed to wind down its footwear manufacturing operations in Guadalajara by the end of the year.
SGB Industry Outlook 2019, Part 1
Over the past week, dozens of executives across the active lifestyle industry shared their outlook for 2019 with SGB. We reached out to large, medium and small brands and retailers in sporting goods, footwear, apparel, outdoors and tactical with two simple questions that were fairly open-ended: What gives you optimism and what causes concern in the coming year? This is the first of a two-part series that gauges what the industry’s key players think will or won’t happen in 2019.
JCPenney Sees Drop In Holiday Sales
J. C. Penney Company Inc. announced that its comparable store sales for the combined nine-week period ending January 5, 2019, decreased 3.5 percent on a shifted basis. On an unshifted basis, comparable sales decreased 5.4 percent.
SFIA Hires New Managing Director Of Sponsorship
The Sports & Fitness Industry Association (SFIA) announced a new addition to the organization, Rick Salomone, who will be responsible for leading and expanding the SFIA sponsorship program. Salomone previously served as the CEO of Surys, a company rooted in holographic science, aiming to provide authentication solutions and reduce counterfeiting of products.
Sears Gets Another Reprieve From Liquidation
Sears has accepted Eddie Lampert’s bid to acquire the company to stave off a liquidation although the bid now requires Sears chairman to deposit $120 million by 4 p.m. Wednesday through his ESL Investments hedge fund.
New Balance Plans Facility In Methuen, MA
New Balance Athletics plans to open to open an advanced manufacturing facility in Methuen, MA.
