Sears Holdings Widens Q2 Loss
Sears Holdings Corporation reported a net loss of $508 million, or $4.68 a share, compared to a net loss of $250 million, or $2.33, for the second quarter of 2017. Total sales were down 25.6 percent due to store closings. Comps slid 3.9 percent.
Louisiana Mayor Rescinds Nike Ban
The mayor of Kenner, LA who banned his city’s recreation department from buying Nike products after news of Nike’s controversial Colin Kaepernick ad, is rescinding his order.
PGA Tour Superstore Opens In Indianapolis
PGA Tour Superstore announced the Grand Opening of its newest store in Indianapolis on Saturday, September 22.
Nike’s Colin Kaepernick Ad Earns Wide Approval From Younger Millennials
According to new poll from Quinnipiac University, American voters approved by a ratio of 49-to-37 percent of Nike’s decision to include Colin Kaepernick in the company’s “Just Do It” anniversary ad campaign. The results showed a wide age gap as voters 18 to 34 years old approve 67-to-21 percent while voters over 65 years old disapprove by a narrow 46-to-39 percent.
Cherokee Global Brands Revenues Dip 10 Percent in Q2
Cherokee Global Brands on Thursday reported revenues were down 10 percent for the second quarter reflecting the continuing transition from the company’s direct-to-retail licenses in the United States to wholesale licenses.
SGB Executive Q&A: Garmont North America CEO Bill Dodge
When Bill Dodge was named CEO of Garmont North America in 2014, he took the reins of a footwear company that was emerging from bankruptcy, adjusting to new private ownership, repositioning after shedding its ski boot division and searching for a U.S. headquarters locale. He spoke with SGB recently about the brand’s revival.
Nike To Sell On Walmart’s Jet.com
Walmart-owned Jet.com will start offering Nike product in October ahead of the holiday season as part of a relaunch focused on urban dwellers. Converse will also be available.
Jordan Brand Partners With Paris Saint-Germain
Nike said the Jordan Brand launched its first collection with a football club, Paris Saint-Germain. The collection will feature over 90 performance, training and lifestyle products. The Jordan Brand this season will also make the company’s UEFA Champions League debut.
PGA Tour Superstore Brings Personalization To Website
PGA Tour Superstore has launched a new e-commerce store that enables customers to discover products, get recommendations and trends based on their interests and buy right from their phones or tablets.
Pocket Outdoor Media Appoints New CEO
Andrew Pemberton, a 20-year veteran of publishing and former executive of Panache Cyclewear, has been named chief executive officer of Pocket Outdoor Media, the holding company that publishes VeloNews, Triathlete, Women’s Running, Competitor and VeloPress books.
Tariff ‘Wild Card’ Threatens Retail Imports
With retail sales continuing to grow, imports at the nation’s major retail container ports are expected to remain strong this month after setting three new records this summer, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
JackRabbit Acquires Rhythm Running, To Open Two Stores
Back in expansion mode, JackRabbit announced the company has completed the acquisition of Nashville-based Rhythm Running. In addition, the company is opening two new stores in Houston, TX, and Tampa, FL.
The Path to $5 Billion: Vans Unveils Roadmap For Lofty Goal
The numbers that the Vans leadership presented at Wednesday morning’s investor meeting in Costa Mesa, CA, were staggering relative to the company’s current financial snapshot of $3 billion in annual revenue for fiscal 2018. The footwear and apparel brand expects to generate compounded annual growth rate (CAGR) of 10 percent to 12 percent each year over the next five years to reach $5 billion in annual revenue by 2023. Here’s how the company plans to do it.
What Would Anta’s Merger Mean For Amer Sports?
“What’s Anta Sports?” was among the questions heard from more than a few market observers after news arrived Tuesday that the Chinese sports powerhouse had made an all-cash offer to acquire Amer Sports. But Anta has spelled out the company’s ambitions to become a global superpower in sporting goods and is ideally-positioned to attack major growth opportunities in the company’s home market.
JBL Extends NBA Partnership
JBL renewed the company’s multi-year relationship with the NBA and expanded the company’s footprint among players and teams.
