New Balance Launches ‘This is Boston’ Campaign
The campaign features Boston Bruins Zdeno Chara and Torey Krug, pro skateboarder PJ Ladd, 2016 Olympic runner Abbey D’Agostino, middle-distance runner Cory McGee and Boston Red Sox Dustin Pedroia and Brock Holt.
Yue Yuen Sees 37 Percent Profit Gain In 2016
Sales rose 0.5 percent in the year as gains at Pou Sheng, its retail business, offset a modest decline in its footwear manufacturing operations.
G-III Apparel Reports Q4 loss
G-III Apparel Group Ltd. reported net sales for the fiscal year ended January 31, 2017 were up 1.8 percent to $2.39 billion from $2.34 billion in the prior year.
Aisle Talk, Week Of March 20
Top headlines from the active lifestyle industry you may have missed this week.
Finish Line Shares Crash On Q4 Miss
Said CEO Sam Sato, “Elements of our offering didn’t resonate with our customers. This was true in both, running and basketball, our two largest categories where full price selling fell short of forecast.”
Shoe Carnival Planning Bigger Athletic Business
Said CEO Cliff Sifford on a conference call with analysts, “Athletic is and has been for the last three maybe four years the hottest category we have and we do look for athletic to grow at a higher rate than non-athletics.”
Finish Line Suffers Big Q4 Miss
Finish Line reported fourth-quarter earnings excluding charges came in well below guidance as “the overall retail environment in February became increasingly difficult” and markdowns were required to reduce inventory levels.
REI Unveils Design For New Headquarters
Said Eric Artz, REI’s chief operating officer. “The Spring District gives us the opportunity to help build a neighborhood from the ground up and rethink how we work, commute and gather.”
Li Ning Sees Double-Digit Gains In 2016
Li Ning, founder and executive chairman of the Group, said, “Riding on the success we have achieved in profitability and brand rejuvenation, we will continue to focus on areas that can be sharpened further in order to maintain healthy and sustainable profit growth for the company in the future.”
Sportsman’s Warehouse’s Q4 Profits Slide 7.5 Percent
John Schaefer, chief executive officer, stated, “The retail environment remained challenging during the fourth quarter and we anniversaried both the San Bernardino tragedy and the executive orders from December and January which created a difficult comparison for our hunting and shooting category.
Sportsman’s Warehouse Appoints President And COO
Jon Barker was most recently as VP global officer for Walmart.
Macy’s Appoints Jeff Gennette CEO
As previously announced, Gennette succeeds Terry J. Lundgren, who will continue as executive chairman.
Shoe Carnival Posts Q4 Loss On Store Impairment Charge
“Our comparable stores sales performance was in-line with the updated expectations we provided in January and our gross profit margin came in better than we anticipated,” said Cliff Sifford, Shoe Carnival’s president and CEO.
Eastern Outfitters Faces Objections Over Sports Direct Bid
In defending the stalking horse bid, Eastern Outfitter’s lawyers noted that the alternative to accepting Sports Direct’s proposal was a liquidation. Indeed, the retailer said it was “fully prepared” to liquidate ten days before the bankruptcy petition date.
Luke’s Locker Wins Court Approval To Hire Restructuring Officer
Joseph Sullivan Associates (JSA) will help determine the optimal turnaround strategy, including a potential restructuring, refinancing and/or sale of assets.
