U.S., Mexico Reach Preliminary Agreement To Restructure NAFTA
The Trump administration and Mexico have reached a preliminary accord to end the North American Free Trade Agreement and replace the agreement with a deal that the administration wants to be more favorable to the United States, according to the Associated Press.
Bob Dickman And Ronny Flowers Elected To NSGA Hall Of Fame
NSGA’s Hall of Fame Committee elected Bob Dickman, BSN Sports, Richmond, Ind., and Ronny Flowers, Athletic Supply, Inc., Odessa, Texas, to join the organization’s Hall of Fame in 2019.
SIMA Appoints New Board President And Vice President
Kelly Gibson is stepping down as CEO of Rip Curl position to pursue new opportunities and is therefore also stepping down as SIMA president. SIMA’s board of directors appointed Shannan North of Billabong to fill the vacated president position.
Under Armour Returns As 3M Half Marathon Presenting Sponsor
High Five Events announce the return of Under Armour, Inc. as the presenting sponsor of the 3M Half Marathon in Austin.
Walmart Introduces Premium Outdoor Site Curated By Moosejaw
Walmart.com on Monday opened a Premium Outdoor Store curated by Moosejaw. This marks the first time that Walmart is creating an online store on the company’s flagship site for one of the company’s acquired specialty retailers.
Stage Stores Widens Q2 Loss
Stage Stores Inc. reported that for the second quarter, comparable sales decreased 0.2 percent. Loss before income tax was $16.8 million compared to a loss before income tax of $9.6 million in the second quarter 2017, driven by investments in the growth of the off-price business, additional supply chain costs, and increased promotional markdowns.
Ross Stores Lifts Store-Growth Targets
Ross Stores reported net earnings in the second quarter rose 22.7 percent as same-store sales grew 5 precent. The off-pricer also increased its long-term store growth potential.
The Buckle’s Earnings Climb
The Buckle Inc. reported net income improved 36.5 percent to $15.7 million, or 32 cents per share, compared with $11.5 million, or 24 cents, for the second quarter of fiscal 2017.
L.L. Bean Makes Multi-Million-Dollar Commitment To National Parks
L.L. Bean is extending its support of the national parks community with a multi-year, $3 million premier partnership with the National Park Foundation for the Find Your Park/Encuentra Tu Parque movement.
Sneaker Week 2018 Hosted First-Ever Consumer Summit
Organizers of Sneaker Week 2018, which will take place August 26 – September 1, announced the first-ever Consumer Summit, wherein executives of major footwear brands and organizations will have an open dialog with sneaker “super-consumers” to help shape the future of the brands going forward.
Hibbett Sports Shares Tumble 30 Percent After Q2 Miss
Shares of Hibbett Sports Inc. plummeted $8.88, or 30.2 percent, to $20.53 Friday after the company earlier in the day announced a second-quarter loss—Wall Street had expected a profit—and lowered guidance for the rest of 2018.
Foot Locker Not Yet Feeling Nike’s Resurgence
Shares of Foot Locker Inc. fell $4.88, or 9.2 percent, to $48.32 Friday after the sneaker leader reported second-quarter comps that came in slightly below Wall Street’s expectations. Foot Locker officials also continue to expect meager gains in the back-half of the year despite the hype around Nike’s return to growth in North America.
Aisle Talk Week of August 20
Top headlines from the active lifestyle industry you may have missed this week, including 5.11 opening a new store in Reno, NV, as part of a nationwide brick-and-mortar retail expansion.
Foot Locker’s Q2 Beats Street
Profits at Foot Locker Inc. jumped 72.5 percent in the second quarter, exceeding expectations. Same-store sales inched up 0.5 percent, improving from a decline of 2.8 percent seen in the first quarter, and stronger growth continues to be expected for the second half.
Hibbett Sports Lowers Full-Year Outlook On Soft Q2
Hibbett Sports narrowed the company’s loss in the second quarter as same-store sales grew 4.1 percent. Wall Street, however, was expecting a profit and the retailer lowered its guidance for the year.
