Frasers Group Forms Joint Venture To Expand In Indonesia
Frasers Group Asia announced a new joint venture agreement with PT Map Active Indonesia to launch Sports Direct in the country. The retail group said the deal is “the first step in a region-wide expansion” between the two and will see the introduction of Sports Direct’s stores across Indonesia, including both the wholesale and retail components.
Ecovative Raises Over $30 Million
Ecovative Design LLC, the eco-friendly materials company based in Green Island, NY, announced it initially closed on a Series E round of over $30 million.
Timberland Taps Nike Vet As Chief Merchandising Officer
Timberland tapped Nike veteran Archie McEachern for the newly created position of vice president and chief merchandising officer, reporting to global brand president Susie Mulder.
Keen Making Price Cuts To Clear Inventory, Support Retailer Discounting
Keen Footwear is creating a buzz in the market as the brand announced to consumers and retailers last week that it is offering lowered prices on nearly every Keen shoe available through retail partners and their retail site.
W. C. Bradley Acquires Dansons US
W. C. Bradley Co. acquired Dansons US LLC in a merger of grill manufacturers. Dansons also owns Surelock gun safes.
Vail Resorts Sees Modest Resort Earnings Growth In Q3, Early Season Pass Sales Gains
Vail Resorts reported results that were in line with expectations in the fiscal third quarter ended April 30 although its net earnings guidance was lowered due to an accounting adjustment for its Park City resort lease. Season pass sales for the upcoming 2023/2024 North American ski season are off to a promising start, increasing 6 percent in units and 11 percent in sales dollars through May 31.
Recall: Giro Merit Bicycle Helmets
Bell Sports, Inc., in cooperation with the U.S. Consumer Product Safety Commission (CPSC) and in conjunction with the Canadian government, is recalling Giro Merit bicycle helmets manufactured before January 2023.
Tommy Bahama Parent Gets Lift From Johnny Was Acquisition To Post Solid Q1 Results
Oxford Industries, Inc. reported that consolidated net sales in the first quarter ended April 29 increased 19 percent to $420 million. On an adjusted basis, EPS increased to $3.78 compared to $3.50 in the first quarter of fiscal 2022.
Camping World To Acquire Dealership In Greater Seattle Area
Camping World Holdings, Inc. reported it will acquire Halterman’s RV in the greater Seattle market. The acquisition is expected to close in the third quarter of 2023.
NRF Elects Five New Board Members At Summer Board Meeting
The National Retail Federation elected five new members to the organization’s Board of Directors during the trade association’s summer board meeting in Washington, D.C.
NRF Expects Imports For First Half To Be 22 Percent Below H1 Last Year
Import cargo volume at the nation’s major container ports is expected to be 22 percent lower during the first half of 2023 than the same time last year despite increased consumer spending, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Report: Shopping Centers Continue To Bear Brunt Of Retail Traffic Slowdown
The latest update to Placer.ai’s Mall Index, Placer.ai Mall Index – May 2023 Recap, shows that shopping malls continue to bear the brunt of consumer concerns regarding the economy, as foot traffic fell year-over-year at indoor malls, open-air lifestyle centers, and outlet malls.
Reima USA Adds Independent Agencies for Two U.S. Sales Territories
Reima USA recently partnered with two new rep groups, S2W Group and Alpin Sales, to grow the brand further in the U.S. S2W group will be responsible for the Pacific Northwest region and Alpin Sales will manage the Rockies.
NRF: Economic Conditions Look Like A Soft Landing, Not Recession
Economic indicators are giving conflicting signs but the nation does not appear to be in a recession and should be headed toward a soft landing from the rampant inflation and high interest rates of the past two years, according to National Retail Federation Chief Economist Jack Kleinhenz.
Report: Labor Still A Top Challenge For Manufacturers As Optimism Remains Low
As rising interest rates, poor economic conditions and an ongoing talent shortage continue to plague manufacturers, optimism amongst industry leaders remains low, according to a new industry report.
