Unifi’s Fiscal Q4 Revenues Drop 31 Percent
Unifi, Inc. reported a loss in the fiscal year ended July 2 as sales declined 30.7 percent. The maker of polyester and nylon textured yarns said results continue to be impacted by low levels of brand demand due to inventory destocking efforts.
EXEC: Kohl’s Finds Active Category Continues “Soft” in Second Quarter
On Kohl’s second-quarter analyst call, Tom Kingsbury, CEO, said the overall active category remained “soft” for the retailer in the second quarter, but outdoor and golf trends were encouraging and Nike, Under Armour and Eddie Bauer showed strength.
Christy Sports Rebrands Sturtevant’s SkiBonkers to Powder Daze; Unifies Offerings
The decision to rebrand the Sturtevant’s sales event to Powder Daze is an effort by the retailer to amplify its legacy so customers across the country can participate in the sale.
Wolverine World Wide’s Debt Ratings Lowered by S&P
S&P Global Ratings reduced the debt ratings of Wolverine World Wide, Inc. as the footwear manufacturer continues to underperform its expectations with “tough industry headwinds to continue to pressure the company’s operating performance at least over the next several quarters.”
Logo Brands Signs 10-Year Licensing Agreement with Utah Utes
The University of Utah is the company’s 35th strategic partnership. Beginning January 1, 2024, Logo Brands and the University of Utah will enter into a 10-year exclusive agreement in the tailgate and inflatables categories.
EXEC: Anta Sports Gets Fila Lift in H1 as Sales Growth, Op Profit Margins Jump
The company, which runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports, reported that Fila brand retail sales posted 13.5 percent year-over-year growth in the first half.
EXEC: Xtep Intl Posts Double-Digit H1 Increase Despite Slowing China Growth
The company, which operates retail stores in China for K-Swiss, Palladium, Merrell, and Saucony, in addition to Xtep brand stores, reported that retail sell-through growth in the first half increased nearly 15 percent.
Powder Mountain Hires Two Snow Sports Veterans for Key Leadership Roles
Powder Mountain hired Katie Van Riper as director of marketing and Justin Soine as director of sports and recreation, a newly created position, at the Utah mountain resort.
EXEC: Dick’s CEO Talks Q2 EPS Miss, Inventory Woes, Retail Theft and Staff Cuts
Shares of Dick’s shaved about a quarter of their value on Tuesday after America’s largest sporting goods chain reported a second-quarter profit shortfall and slashed its earning guidance for the year due to promotions required to clear inventories, particularly in the outdoor category, and higher-than-expected shrink.
Alterra Mountain Company Closes on Schweitzer Acquisition
The addition of Schweitzer brings the company’s year-round mountain destinations to 17 in North America, including the world’s largest heli-ski operation.
Dick’s SG Lays Off Corporate Staff to Streamline Cost Structure
A source told Bloomberg News that Dick’s had laid off 250 corporate employees as part of the plan. Retail staff were not impacted.
Sunday Afternoons Appoints New CEO
Patrick Mahaffey joins the family-owned brand with extensive sales, operations and leadership experience. Most recently, Mahaffey held the position of president at Good Life, Inc. He replaces outgoing CEO Sarah Sameh.
Academy Sports + Outdoors to Open First Indianapolis Store
The approximately 75,000-square-foot store will sell a wide assortment of sports and outdoors merchandise. The retailer will host a grand opening from August 25-27.
Macy’s Rolls Out Four New Small Format Stores Across West and Northeast
The move marks the first expansion of its small-format locations into the Northeast and Western regions of the U.S., with openings in Boston, Las Vegas and San Diego.
Dick’s SG Axes Outlook on Q2 Profit Shortfall, Blames Inventory Shrink
Dick’s Sporting Goods delivered 1.8 percent same-store growth in the second quarter but profits fell well below Wall Street targets due in large part to shrink. The retailer slashed its earnings outlook for the year on the Q2 shortfall and expected margin pressure in the second half and launched a business optimization program that reportedly includes the layoff of 250 corporate employees.
