SGB Update Apparel
Rally House Adds Stores in Detroit and Kansas City
Rally House announced it opened new stores in northern Detroit and Kansas City. Rally House operates over 180 stores across 18 states in the U.S.
United Sports Brands Acquired by Norwest Equity Partners
Norwest Equity Partners (NEP) has acquired United Sports Brands, the parent of Shock Doctor, McDavid, Cutters, Nathan, Pearl Izumi, and Glukos, from Bregal Partners. NEP’s history with USB brands dates to 2008, when it acquired Shock Doctor as part of its consumer products portfolio.
Backcountry Sells Bergfreunde European Subsidiary
Backcountry reported it entered into a definitive agreement to sell its European subsidiary, Bergfreunde, to Decathlon, the largest sporting goods retailer in the world.
Report: Black Friday Traffic Sees Uptick
Sensormatic Solutions released its initial shopper visit data for U.S. brick-and-mortar stores and shopping centers for Black Friday, November 24, noting that foot traffic increased 4.6 percent compared to 2022.
Report: U.S. Black Friday Retail Sales Up Modestly
According to Mastercard SpendingPulse, retail sales grew 2.5 percent year-over-year on Black Friday, slowing as expected from a gain of 12 percent on the same day a year ago.
Report: Black Friday Sees Record Online Spending
According to Adobe Analytics, a record $9.8 billion was spent online in the U.S. for Black Friday, up 7.5 percent year-over-year (YoY). Adobe had estimated this year’s Black Friday sales at $9.6 billion.
Puma Appoints GM for Puma Japan
Puma hired Ryokusai Inoue as general manager of Puma Japan, effective immediately. He replaces Kohei Hagio, who has held the position since 2021.
Wolverine World Wide Sees Debt Ratings Downgraded
Moody’s downgraded Wolverine World Wide, Inc.’s debt ratings to reflect Wolverine’s “ongoing steep revenue and earnings declines and Moody’s expectations that the challenging retail environment will hinder the company’s ability to realize significant near-term benefits from its turnaround efforts.”
Fanatics Commerce’s Debt Ratings Downgraded to Negative
Moody’s Investors Service downgraded Fanatics Commerce’s debt rating to reflect the online fan website’s “significantly weaker than expected earnings and cash flow and the risk that the increasingly difficult operating environment will challenge its ability to achieve the appropriate level of returns on its current investments and return EBITDA and EBITDA margins back to their previous levels.”
Nordstrom’s Sales Led by Active in Third Quarter
Nordstrom reported slightly higher earnings in the third quarter on improving gross margins. Sales were down 6.8 percent with sales slumping 9.4 percent at the Nordstrom flagship banner and declining 1.8 percent at Nordstrom Rack.
Urban Outfitter’s Profits Soar in Third Quarter
Profits at Urban Outfitters surged 123 percent in the third quarter as sales grew 9 percent. Retail segment comps advanced 5.6 percent as gains of 22.5 percent at Free People and 13.2 percent at Anthropologie offset a 14.2 percent decline at the Urban Outfitters banner.
Reima USA Expands Indie Sales Rep Team
Reima USA hired Kerry O Sales to its independent sales rep network, marking a “significant step” in growing its U.S. business.
Authentic Adds N.A. Kids Apparel Licensing Partner for Quik, Billabong and Roxy
Centric Brands, LLC inked an exclusive licensing agreement with Authentic to design, manufacture and distribute kids’ apparel for the Quiksilver, Billabong and Roxy brands in the U.S. and Canada.
SGB Media Thanksgiving Schedule
In observance of the Thanksgiving holiday, SGB Media is taking time to be with family and will not publish the SGB Evening Update on November 22 or the SGB Morning and SGB Evening Updates on November 23, or November 24. Publishing will resume on November 27, 2023.
Outdoor Research Appoints VP of Operations
Outdoor Research recently promoted long-time employee Geoff Potter to vice president of operations, who has worked in planning and operations for nearly 12 years.
