Report: Footwear Retailers Top Retail Foot Traffic Gains Since 2020
Shoe store visits quickly bounced back following the first days of the pandemic when restrictions all but sidelined retail foot traffic and Nike, WSS and Boot Barn look to be well positioned for continued growth for back-to-school based on a report from Placer.ai.
Rev Group Promotes Recent Hire to New VP/General Manager Role
Rev Group promoted Eduardo Castano to vice president and general manager of Lance Camper Mfg. Corp.
REI Honors Vendor Partner of the Year, Gives Divisional Awards to Four Brands
REI Co-op honored On with its 2023 Vendor Partner of the Year award. The retailer said, “that by marrying style, comfort and functional performance, On continues to bring compelling, functional innovation to REI and attracts customers of all ages and backgrounds to running and hiking season after season.”
FESI Responds to European Parliament Proposal on Sustainable Product Regulation
The Federation of European Sporting Goods Industry said this week that it commends the Parliament’s efforts in recognizing the trade-offs involved in establishing eco-design requirements, a crucial step toward advancing sustainability and environmental responsibility within the sporting goods industry.
Former Hibbett CFO Lands at Leslie’s Inc. with TNF Veteran CEO
Leslie’s, Inc. appointed former Hibbett Sports CFO Scott Bowman as CFO, effective August 7. Bowman joins the company on July 17 and will serve as CFO designate through August 6.
Camping World Closes on Acquisition of Yuba City, CA Dealership
Camping World Holdings, Inc. closed on the acquisition of All Seasons RV in Yuba City, CA.
Rapala VMC Corp. Increases Stake In 13 Fishing
Rapala VMC Corp. and James Coble, the majority shareholder of DQC International, which manufactures and markets 13 Fishing rods and reels, reached an agreement whereby Rapala VMC will increase its ownership of DQC International to 60 percent of the Florida-based company. At the same time, Coble will retain a 40 percent share of the company.
Report: Online Prices Fall 2.6 Percent in June, a 36-Month Low
Adobe reported in its Digital Price Index (DPI)* that online prices in June 2023 fell 2.6 percent year-over-year (YoY), the most significant decrease since May 2020, when prices fell 1.5 percent YoY.
NRF: Back-To-School Shopping Expected to Reach Record Levels
Back-to-school spending is expected to climb 12.4 percent while back-to-college shopping will increase about 27 percent this year as both tiers reach recording spending levels, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
Quality Bicycle Products Cuts U.S. Work Force
In response to an over-inventoried supply chain that continues to pressure the bike industry, Quality Bicycle Products reported that it reduced its U.S. workforce by 5 percent on July 12. The workforce reduction reportedly affected multiple departments.
Diddy Launches Online Marketplace for Black Entrepreneurs
Sean “Diddy” Combs launched Empower Global (EG), an e-commerce platform for selling products created and sold by Black entrepreneurs.
Authentic Brands Group Names Chief Financial Officer
Authentic Brands Group (Authentic) named Kevin Wills as chief financial officer. Wills is based in the company’s New York headquarters and reports to Founder, Chairman and CEO Jamie Salter.
Western Mountain Destinations See Pick-Up in Summer Bookings
Summer is in full swing in mountain communities focused on hiking, biking, paddling and outdoor concerts, with a handful of resorts still offering limited skiing and riding. Positive economic news in June spurred an uptick in summer bookings, according to DestiMetric’s most recent monthly Market Briefing.
VanMoof Explores Sale Under Court Protection
Dutch e-bike manufacturer VanMoof reportedly applied to a local Dutch court and received an official suspension of payment provision to avoid bankruptcy proceedings while pursuing options to reduce debt, including a sale.
Amazon Sees ‘Biggest Ever’ Prime Day
U.S. online sales rose 6.1 percent to $12.7 billion during Amazon’s Prime Day two-day sales from July 11- 12, according to Adobe Analytics, which measures transactions at U.S. retail sites. Amazon called the first 24 hours of Prime Day the “single largest sales day in company history,” but did not disclose total sales.
