AlixPartners: Holiday Retail May Be A Tale of Two Cities Again this Year
The consulting firm’s Holiday Outlook Survey of more than 1,000 American consumers found that 26 percent of consumers plan on spending less this holiday season with 38 percent of households with incomes under $45K planning to spend less.
August Retail Sales Growth Moderates; Sporting Goods Trends Down
August sales were up in five out of nine retail categories on a yearly basis, according to the U.S. Census Bureau. Circana reported flat sales growth year-over-year for their categories while the NRF and USCB saw sales up 3.3 percent for the period.
Deloitte Forecasts Softer Holiday Sales, Double-Digit E-Commerce Growth
Holiday sales in the U.S. are estimated to grow 3.5 percent to 4.6 percent between November and January, slowing from the 7.6 percent increase seen in 2022, according to Deloitte’s annual holiday retail forecast. The moderation reflects less inflation but also weaker consumer spending.
Nordstrom, Inc. Promotes Three to Key Leadership Roles
The retailer promoted Jamie Nordstrom to chief merchandising officer, Fanya Chandler to president, Nordstrom Stores and Gemma Lionello to president, Nordstrom Rack.
Lululemon Athletica Appoints New Board Member
Shane Grant has been the group deputy CEO, CEO Americas, and EVP of dairy, plant-based and global sales at Danone, a global food and beverage company, since January 2023.
Major League Pickleball and PPA Tour to Merge
The operators of the two major pickleball leagues, Major League Pickleball and the PPA Tour agreed to merge. The companies will remain distinct, but the merger aims to eliminate scheduling conflicts and competition over players.
True Fitness Hires Western Sales Manager
True Fitness, a commercial cardio and strength equipment provider, hired Chris Van Harte as national and key accounts sales manager for the Western region.
Longstreth Sporting Goods Sold To Private-Equity Firm
Longstreth Sporting Goods, which specializes in field hockey, was acquired by Roebling Capital Partners, a private-equity firm based in Cincinnati.
Report: Online Prices Reach 40-Month Low in August
U.S. online prices in August 2023 fell 3.2 percent YoY, reaching their lowest in 40 months, led by a drop in sporting goods, down 7 percent YoY, according to the latest data from the Adobe Digital Price Index, based on Adobe Analytics. This made August 2023 the 12th consecutive month of overall YoY price decreases.
Pure Hockey Acquires North Georgia Hockey
The hockey specialty retailer said the acquisition marks Pure Hockey’s first entry into the Georgia market and underscores its commitment to serving hockey players across the U.S.
Form Appoints Chief Revenue Officer, Names Board Member
Form appointed Christopher Stadler as a Board Member and hired Kevin Abt as chief revenue officer as the fitness tech company gears up for its next growth phase.
Helly Hansen, SportChek Parent Prices Private Placement Notes Offering
Canadian Tire Corporation, Ltd. intends to use the net proceeds from the offering and sale of the Notes for the repayment of short-term borrowings and general corporate purposes.
EXEC: Skechers Notes Continued Pressure in U.S. Wholesale Business
Speaking at the Piper Sandler Growth Frontiers Conference, John Vandemore, the CFO at Skechers USA, said the company continues to see strong demand for the brand across its DTC channels but is not seeing any indication that the elevated inventories affecting U.S. wholesale business to alleviate anytime soon.
Nike Shareholders Reject Pay Equity Proposal
At Nike, Inc.’s annual meeting Tuesday, shareholders voted against a proposal seeking a more detailed report on pay gaps across race and gender. Shareholders also rejected a proposal over the disclosure of human rights commitments.
Fanatics Appoints New CEO for Commerce Business as Doug Mack Retires
Fanatics hired Andrew Low Ah Kee as CEO of Fanatics Commerce, effective immediately. Over the past decade-plus, Fanatics Commerce, the company’s largest business, reportedly “transformed from a domestic e-commerce company into a global omnichannel business.”
