New Balance Breaks Ground On Maine Factory Expansion
New Balance broke ground to expand its athletic footwear manufacturing factory in Skowhegan, ME. The $65 million, 120,000-square-foot single-story addition, scheduled to be completed by the end of 2024, will add 200 jobs and double the factory’s production capabilities.
Gatorade Opens New Sports Science Lab
Gatorade opened its newest Gatorade Sports Science Institute (GSSI) Research & Development lab in Valhalla, NY. The R&D facility will support product development across all Gatorade portfolio brands, including Gatorade, Fast Twitch, Propel, Muscle Milk, and Evolve.
Nike Opens A Nike Live Location In Kentucky
Nike opened a Nike Live store at the Oxmoor Center, a shopping mall in Louisville, KY. Dubbed “Nike by Louisville,” the 4,900-square-foot space sits between Dick’s Sporting Goods and Von Maur department store.
SGB Media Reports Top 25 Most-Read Articles For May 2023
SGB Media’s Top 25 most-read articles for May 2023 include the unfortunate news about an industry leader passing away; staff cuts at various companies; a lawsuit against former employees; tough Q1 results amid heavy inventories for both brands and retailers; and several reports covering the Adidas x Yeezy debacle. On the upside, the top stories SGB Media covered for the month included…
USA Pickleball Names New CEO
USA Pickleball, the national governing body for pickleball, named Mike Nealy as CEO, effective mid-June. Nealy replaces CEO Stu Upson, whose last day with the organization was May 31.
Mindbody Hires Chief Revenue Officer And Chief Human Resources Officer
Mindbody hired Brian Fields from Groupon as chief revenue officer and Sara Diniz from Bain Capital as chief human resources officer.
Sea-Doo, Ski-Doo Parent Delivers Solid First Quarter Results On Healthy Demand
BRP Inc., parent company of the Ski-Doo, Lynx and Sea-Doo brands, said that strong deliveries, aided by improvements in the supply chain and inflationary environment, allowed the company to deliver a solid first quarter, outperforming the results of the first quarter of Fiscal 2023.
Costco U.S. Non-Fuel Comp Store Sales Up 1.7 Percent In May; E-commerce Falls
Costco Wholesale Corporation reported net sales of $18.45 billion for the retail month of May, the four weeks ended May 28, 2023, an increase of 1.2 percent from $18.23 billion last year.
Nike Apparel To Return To Macy’s
On its first-quarter analyst call, Macy’s confirmed that Nike apparel would return to its selling floors. Nike ended distribution to the department store in 2021.
Tilly’s Inc. Sees Better May Results After Q1 Loss And 17.5 Percent Comp Decline
Tilly’s, Inc. reported total net sales for the fiscal first quarter ended April 29 were $123.6 million, a decrease of 15.2 percent from Q2 last year. Comp store sales improved sequentially through May, declining 11.5 percent.
Lululemon Hikes Outlook As Q1 Blows Past Guidance
Lululemon Athletica, Inc., bucking a recent trend toward guidance cuts for most retailers, raised its outlook for the year after reporting first-quarter results that topped expectations.
The Buckle Posts 6.4 Percent Comp Sales Decline In May
The Buckle, Inc. posted a 6.4 percent comparable store net sales decline in May. Net sales for the 4-week fiscal month ended May 27 decreased 5.3 percent to $89.3 million from net sales of $94.3 million for the prior-year 4-week comparable period.
Under Armour Founder Sells $100 Million Stake To Merchant Bank Affiliate
Under Armour, Inc. reported that company Founder, Executive Chair and Brand Chief Kevin Plank slightly reduced his stake in the company, selling shares valued at approximately $100 million to funds managed by BDT Capital Partners. Plank said the sale is related to personal financing commitments.
Nordstrom Posts Q1 Loss On Double-Digit Sales Declines Across Stores And Digital
Nordstrom, Inc. reported total company net sales decreased 11.6 percent to $3.06 billion in the fiscal first quarter ended April 29. Digital sales decreased 17.4 percent. Nordstrom reported a first quarter net loss of $205 million, or a loss per diluted share of $1.27.
Martha Headwear Hires Sales and Marketing Manager; Looks To Europe For 2024
Martha Headwear has hired Martin Sundblad, a former executive at Reef and Fallen, as its sales and marketing manager. The company’s sales reps operate in NorCal, Central California, SoCal, the Rockies, Puerto Rico, Texas, the Mid-Atlantic, and Florida.
