SGB Update Apparel
Topgolf Callaway Gets Double-Digit Q2 Lift from Topgolf; Callaway Flat
The revenue increase was said to be driven by strong 16.6 percent growth at Topgolf, including approximately 1 percent same-venue sales growth.The result came despite an $8.0 million negative impact from FX rate variances.
JD Sports Acquires Balance of Shares in Poland-Based Sports Retailer
JD exercised its rights under a call option to acquire the outstanding 40 percent minority stake of Marketing Investment Group S.A. (MIG) to become MIG’s 100 percent sole owner.
Report: Small Businesses Report Significant Hiring Decline in July
The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted decrease of 2.1 percent in July. This month’s reading is a dramatic reversal from the strong hiring reported in June.
Hanesbrands Faces Activist Investor Calling for Leadership Changes
Barington Capital, an activist shareholder group, issued a letter calling for changes in the Board of Directors of Hanesbrands, possibly the CEO and other operational changes to reduce debt. In response, Hanesbrands highlighted progress under its Full Potential strategy and said it remains committed to driving shareholder value.
Under Armour Limits Fiscal Q1 Downside with Strong International Growth
Total net revenue was down 2.4 percent (-1.3 percent currency-neutral) year-over-year to $1.32 billion in the fiscal first quarter ended June 30. Wholesale revenues declined 6.3 percent while DTC increased 4.5 percent.
NRF Sees Cargo Volume Hitting Yearly Peak in August
Import cargo volume at the nation’s major container ports is forecasted to hit its highest level in nearly a year in August as retailers stock up for the winter holidays, according to Global Port Tracker’s report released by the National Retail Federation.
Equip Names New Sales VP for Rab and Lowe Alpine
Rab and Lowe Alpine has named Ross Herr to the company’s new position of VP of U.S. Sales, putting a proven industry veteran in charge of the sales direction for both brands in the United States.
Quicksilver’s Global General Manager Resigns at Boardriders
Brad Blankinship, Quiksilver’s general manager since November 2021, confirmed on LinkedIn reports that he had resigned from the company.
Topo Designs Names New CEO
Topo Designs, the Colorado-based outdoor brand, promoted Matt Williams, effective immediately, to CEO. Previously Williams was the company’s chief operating officer. He succeeds Co-Founder Mark Hansen, who is retaining his seat on Topo Designs’ Board of Directors.
Nordstrom Rack to Open Store in Queen Creek, AZ
Nordstrom, Inc. plans to open a new Nordstrom Rack in spring 2024 in Queen Creek, AZ. Nordstrom Rack is the off-price retail division of Nordstrom, Inc.
Rally House Opens Seven Stores in Record-Breaking Weekend
Rally House opened seven stores in five states over the weekend, marking the first time in the retailer’s history to open that number of doors in one weekend.
NRF Launches Center for Digital Risk and Innovation
The Center is expected to serve as the focal point for NRF’s engagement on technology issues that have significant policy and risk management implications for the global retail industry.
BRC: British Retail Foot Traffic Recovers as Outlets Fuel Growth
The data shows that much of the footfall recovery in July was shored up by strong performance in outlet retail, as shoppers turn to discount formats to make spend go further.
Pentland Brands Simplifying Business Structure; Cutting 90 Jobs
Pentland Brands reported it initiated a new program to “simplify the way its business is organized” to focus on product, digital, consumer data, and analytics; however, it means laying off 90 employees. The second quarter of fiscal 2023 was $400.7 million, a decrease of 1.5 percent, compared to net sales of $406.7 million in the second quarter of fiscal 2022.
Truewerk Hires Prana Vet as Chief Financial Officer
Truewerk, the direct-to-consumer performance workwear brand, hired Michael Pogue as chief financial officer. Pogue spent eleven years working for Prana and eight years with Guess?, Inc.
