Wolverine World Wide’s Debt Ratings Lowered
Moody’s Investors Service downgraded Wolverine World Wide, Inc.’s debt ratings. The downgrade reflects Wolverine’s elevated leverage compared to Moody’s original expectations and similarly rated peers and risks to the pace of deleveraging given macroeconomic, foreign currency, supply chain pressures, and the more promotional retail environment.
Rally House Multiplies In Louisville Market With New Store
Rally House was introduced to Louisville earlier this year, and the chain has opened another new location in the area with Rally House Paddock Shops.
Foot Locker’s Q2 Tops Wall Street Targets, Outlook Slightly Lowered
Foot Locker Inc. reported second-quarter earnings declined sharply versus year-ago levels but topped Wall Street’s consensus estimate. The sneaker giant now sees full-year results arriving at the lower end of previous guidance.
Foot Locker Partners With Fanatics To Expand Licensed Sports Offering
Foot Locker, Inc. and Fanatics announced a new long-term connected inventory partnership that will broaden the officially-licensed fan gear and merchandise assortment available online to Foot Locker shoppers.
Nike And Adidas Settle Flyknit Infringement Lawsuit
According to the Portland Business Journal, Nike filed paperwork with the U.S. District Court in Portland, OR, to settle its patent infringement lawsuit against Adidas over the alleged use of Nike’s knitted footwear technology. The filing does not disclose the settlement terms.
American Council On Exercise Adds Board Member
Becky Roseberry, former senior vice president of finance for CorePoint Lodging, Inc., has joined the American Council on Exercise (ACE) as a board member.
Texas State Extends Partnership With Adidas
Texas State Athletics has extended its partnership with Adidas as the University’s exclusive athletic footwear, apparel and accessories outfitter. The partnership states that Game One will be the official Adidas products provider to Texas State student-athletes and coaches.
Port Of Los Angeles Breaks Another Cargo Record In July
The Port of Los Angeles processed an estimated 935,345 Twenty-Foot Equivalent Units in July, outpacing the previous record set in 2019 by 2.5 percent. The Port has set monthly records in five of seven months in 2022.
U.S. Retail Spending Shows Slight Gain In July
As calculated by the National Retail Federation, core retail sales rose in July even as overall sales reported by the U.S. Census Bureau remained flat on a monthly basis, and both calculations showed strong year-over-year gains as consumers continued to shop despite high inflation respectively, the NRF said.
Kohl’s Slashes Guidance On Planned Inventory Reduction
Kohl’s, Inc. cut its full-year forecast due to plans to increase promotional activity to reduce inventory levels. The department store chain reported second-quarter results slightly ahead of expectations but indicated a weakening economy and high inflation are weighing on sales growth.
Linus Bikes Signs New Canadian Distribution Partner
Linus announced that Noru XPLR, Inc. is now an exclusive authorized distributor of Linus Bike products for Canada.
Target’s Q2 EPS Misses Wall Street Targets
Target Corp. reported a steep decline in earnings due to planned markdowns to support the chain’s inventory reduction efforts. Total sales grew 3.3 percent due to steady traffic growth on top of unprecedented increases over the last two years. The discounter maintained its guidance for the year.
Murf Electric Bikes Hires Marketing Director
Murf Electric Bikes hired Ally Losness as marketing director, bringing over a decade of brand launch and growth experience to the position.
PXG Opens First Custom Build And Distribution Center In U.K.
PXG recently opened its first custom build and distribution center in the United Kingdom.
Lids Opens First Store In Australia
Lids opened its first NBA store in Melbourne, Australia, with plans to open a second store in Sydney, Australia, later this year.
