EXEC: Academy’s Chief Merchant Talks Jordan Launch, Nike Brand Success, Tariff Disruption
Following the retailer’s first-quarter results report, Academy’s EVP and Chief Merchant Matt McCabe added more highlights from the business, including the promise to introduce the Jordan brand, a strong response to expanding Nike product and market share gains among higher-income households.
EXEC: Trump Announces U.S. and China Have Reached Trade Deal With 55 percent Tariff
President Donald Trump declared the trade war with China “done” Wednesday, while Commerce Secretary Howard Lutnick said tariffs on Chinese goods will be locked in at the current 55 percent rate without additional increases.
Target Increases Quarterly Dividend
Target Corp. declared a quarterly dividend of $1.14 per common share, a 1.8 percent increase from the prior quarterly dividend of $1.12.
Ruger Appoints VP, General Counsel and Corporate Secretary
Sarah Colbert was promoted to vice president, general counsel and corporate secretary. She succeeds Kevin B. Reid, Sr., who is retiring after serving as vice president and general counsel since 2008.
EXEC: Trump Tariffs Having Little Impact on Retail Footwear Prices
The May Consumer Price Index (CPI) came in cooler than expected, defying fears that the impact of President Trump’s tariffs would start to show a rise in prices. A separate analysis by the FDRA indicates that footwear prices in May likewise declined year-over-year.
Carbitex Enters Tactical Boot Market
The collaboration introduces Carbitex’s MonoFlex M1 technology into Prabos’s professional footwear tactical boot line. both companies aim to meet the demanding requirements of military and law enforcement personnel.
NFIB: Small Business Optimism Rises For First Time This Year
A gauge of sentiment among small businesses, rose to 98.8 in May from 95.8 in April, bringing the Index back above its long-term average, represented by a reading of 98. The increase ends a four-month streak of weakening sentiment.
Duluth Holdings Undergoes Layoffs
As part of its expense savings initiatives to rightsize the business, the retailer reduced its workforce by 51 employees, or 3 percent of its total workforce, on June 4.
EXEC: Academy CEO Sees Promising Returns from Improved Nike Allocations, Jordan Launch
First-quarter results missed analyst estimates and the retailer widened its full-year guidance due to potential inflationary pressures arriving this year. Management also shared many positive developments, including a healthy response to Nike product expansion and Jordan brand launch.
Orvis to Close Chicago Store
The storefront, located on the Magnificent Mile, will close on July 24, after two decades, “due to the changing retail landscape on the Magnificent Mile.”
Warbird Marine Holdings Names New CEO
The parent of Invincible Boats and Yellowfin Yachts appointed Thomas Wieners, COO, as CEO. John Dorton, current CEO who formed Warbird Marine Holdings in partnership with EagleTree Capital in 2019, transitioned to the role of executive chairman.
Academy Sports and Outdoors, Inc. Sees Profits Sink on Comp Sales Decline
Academy Sports and Outdoors, Inc. reported first-quarter earnings and sales that came in below analyst targets. The sporting goods chain widened its guidance for the year to account for potential additional pressure on earnings in the second half tied to inflation.
Twin Vee PowerCats Acquires Bahama Boat Works
Twin Vee said it plans to elevate the Bahama Boat Works product by “seamlessly integrating” Twin Vee’s innovation and engineering expertise. The key to this transition is the continued involvement of Bahama’s master boat builder, Scott Henley, who is “one of the most prolific and respected figures in the marine industry.”
NRF: Summer Import Cargo Forecast to Surge but Full Year is Expected Down
Ports have not yet reported numbers for May but Global Port Tracker projected the month at down 13.4 percent from April and down 8.1 percent year-over-year. Volume is expected to surge over the summer and then expected to drop sharply for the remainder of 2025, with large year-over-year declines seen partly because imports in late 2024.
Dick’s SG Promotes Amanda Bonzo to VP Communications
Dick’s Sporting Goods promoted Amanda Bonzo to VP of communications. She joined Dick’s as senior director of communications in 2020 and took over as communications lead from former chief communications officer Peter Land in 2023.
