Consumer Prices Rose More Than Forecast in September; Apparel CPI Declines
One bright spot for consumers was in the month-over-month CPI for Apparel, which declined 0.8 percent from August, most likely owing to the de-stocking and promotional environment at retail.
September Footwear Production Falls at Yue Yuen While China Retail Grows
Yue Yuen’s manufacturing segment revenue dipped 28.7 percent in September, the fourth consecutive month of declines. Sales in the Pou Sheng retail segment rose 9.2 percent.
Authentic Brands Group Taps Shaq to Run Reebok Basketball
Reebok appointed Shaquille O’Neal as president of Reebok Basketball with Allen Iverson serving as vice president of the division. Both NBA legends have longstanding relationships with Reebok and its parent company, Authentic Brands Group.
EXEC: Volumental’s Brent Hollowell Talks Fit for Feet
Volumental, the Swedish footwear fit tech company, recently hired industry veteran Brent Hollowell as general manager for its North American operations, responsible for accelerating growth in the region. Hollowell talked with SGB Executive about his role, Volumental’s push into North America, the barriers to fit tech, and the potential of generative AI in the fit process.
Barre3 Acquires The Barre Code
Barre3, the barre fitness company based in Portland, OR, acquired fellow studio operator, The Barre Code. With the acquisition, Barre3 said it has 185 studios nationwide and a digital platform with subscribers in more than 100 countries.
EXEC: Sports Direct Parent Expands Stake in Norwegian Retailer
Shares of XXL, the struggling Oslo-listed sports retailer, are reportedly surging after the company reported that Frasers Group, the UK-based parent of Sports Direct, purchased 117.4 million shares of the company, bringing its total holding to 162.1 million.
EXEC: BRC Sees Weaker UK Retail Growth in September as Non-Food Sales Decline
The British Retail Consortium reported that total UK retail sales were 2.7 percent in September, against a growth of 2.2 percent in September 2022, supported by a 9.5 percent inflation rate.
Gatorade Grows Double-Digits In Third Quarter
PepsiCo reported sales of the Gatorade sports drink brand grew double-digits in the fiscal third quarter ended September 9 as increased prices offset a mid-single-digit decrease in unit volume.
EXEC: JD Sports Completes Shares Purchase of Iberian Sports Retail Group
Effective October 10, JD acquired 49.98 percent of shares of ISRG from Balaiko Firaja Invest, S.L. and Sonae Holdings, S.A. for cash consideration of €500.1 million ($531.2 million) and now owns 100 percent of ISRG shares.
Sporting Insights Appoints Joint Managing Director
The U.K.-based market research firm announced that Richard Payne has taken on a new position as joint managing director of the company, alongside managing director, John Bushell.
Pure Hockey to Open Two Stores In Ohio
Pure Hockey announced plans to open two stores in Ohio in mid-October in Columbus and Mayfield Heights. The openings mark the retailer’s entrance into Ohio.
Report: UK Holiday Spending Increase Will Fall Short of Inflation Growth
The 3.4 percent growth for the holiday selling period, driven by 9.3 percent inflation for the year, still falls short of last year’s increase and marks a second quarter of slowing growth in 2023.
Core Health & Fitness Appoints New CEO
Core Health & Fitness appointed industry veteran Bryan K. O’Rourke as chief executive officer. O’Rourke will work together with Founder and Chairman Michael Bruno.
NRF: Import Volumes Slowing Heading Into Holiday Selling
Import cargo volume at the major container ports in the U.S. has hit its expected peak for the year and should gradually slow moving into the holiday season, according to the Global Port Tracker report released by the National Retail Federation(NRF) and Hackett Associates. Ports have not reported September numbers, but Global Port Tracker projected the month at 1.94 million TEU, down 4.3 percent year-over-year. October is also forecasted at 1.94 million TEU, down 3.1 percent year-over-year.
EXEC: Report Sees Crocs, Hoka, New Balance, and On Increasing Teen Appeal
Crocs, Hoka, New Balance, and On were among the brands in the active lifestyle space that increased their appeal with teens in Piper Sandler’s 46th Semi-Annual Taking Stock With Teens Survey. Nike dominated teen mindshare in footwear and apparel but lost brand appeal in the performance category, while Adidas, Converse, Under Armour, and Vans ost ground with teens. Lululemon had a mixed performance.
