SGB Update Apparel
The Buckle’s June Same-Store Sales Dip
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 5-week period ended July 1, 2023, decreased 2.4 percent from comparable store net sales for the 5-week period ended July 2, 2022.
Puma Commits To Sourcing Bovine Leather From Deforestation-Free Supply Chains By 2030
Puma reported it signed up for the Deforestation-Free Call to Action for Leather, launched by global non-profits Textile Exchange and Leather Working Group.
Lululemon Launches On Zalando
Expanding on its presence in Europe, Lululemon agreed that Zalando, a European online fashion and lifestyle platform, would be its preferred European online retail seller.
Fanatics Partners With Rakuten To Serve Japanese Sports Fans
Fanatics reported it launched its first online marketplace in Japan, opening a store on Rakuten Ichiba, operated by global internet services leader Rakuten Group, to improve access to licensed sports merchandise for customers in Japan.
Kit And Ace Acquired By Unity Brands
Kit and Ace, the technical apparel company started by Lululemon Athletica founder, and ex-CEO, Chip Wilson and his family, was reportedly acquired by Unity Brands, the company run by Canadian retail veteran Joe Mimran.
Adidas HR Chief To Depart This Month
Adidas AG reported that Amanda Rajkumar, executive board member and labor director of Adidas, responsible for global human resources, people and culture, informed the company’s Supervisory Board that she would not renew her contract, which expires in December 2023 and is leaving the company on July 15. Adidas provided no reason for Rajkumar’s decision.
Academy Sports Opens Store In Peoria
Academy Sports + Outdoors opened its first store in Peoria, IL, the second in the state, including the store in Fallon, IL.
Adidas Partners With Roma
Adidas signed a long-term partnership with Roma to become the Italian soccer club’s new kit supplier, replacing New Balance.
MEC Tied For Top Place With Costco As Canada’s Most Trusted Brand
In a tie with Costco, the Gustavson Brand Trust Index recognized Mountain Equipment Company (MEC) as Canada’s most trusted brand. Other brands in the active lifestyle space that made the Index’s Top 50 most trusted brands were Columbia Sportswear at No. 3; The North Face, 12; Patagonia, 15; and Canadian Tire, the parent of SportsChek, 37.
JD Sports Expands To Middle East In Franchise Deal
JD Sports Fashion Plc signed its first franchise agreement with Dubai-based GMG. Under the ten-year agreement, GMG will open around 50 stores under the JD banner by 2028, focused on locations in the United Arab Emirates, the Kingdom of Saudi Arabia, Kuwait, and Egypt.
World Surf League CEO Exits
The World Surf League (WSL) announced that CEO Erik Logan had left the company, effective immediately, with no reason for his departure. As the WSL begins a search for a new CEO, Emily Hofer, WSL’s chief people and purpose officer, and Bob Kane, chief operating officer and chief legal officer, will jointly lead the company.
Study: Consumers Plan To Spend More For BTS Despite Weaker Economy
Creator marketing platform LTK released the findings of its 2023 Back to School Shopper Study which found that, despite the weakened U.S. economy, 65 percent of Americans said they will shop during the back-to-school season, with 81 percent planning to spend the same or more than last year, with purchasing decisions driven by price and quality.
On Opens Store In Brooklyn
Swiss running brand On opened a store in Brooklyn’s Williamsburg neighborhood, marking its fourth retail location in the U.S. and its 23rd store globally. The company reported that future store openings are planned for Miami, Chicago, Austin, and Portland, OR.
Nike Tops Fiscal Q4 Sales Expectations, Misses On Earnings On Margin Pressures
Nike, Inc. reported net earnings slid 28 percent in its fiscal fourth quarter ended May 31 and were just short of Wall Street expectations due in part to higher markdowns used to clear inventories.
L Catterton Sells Majority Stake In Cicli Pinarello
L Catterton reported selling its majority stake in Cicli Pinarello, the Italian manufacturer of road bikes, accessories and apparel, which it acquired in December 2016, to a “private family office.” The company did not disclose the terms of the transaction.
