SGB Update Apparel
Wolverine Worldwide Announces New Board Chairman And Directors
Wolverine World Wide, Inc. reported today that its Chairman and retired CEO, Blake Krueger, will retire from the Board on May 4. Tom Long, the Board’s lead independent director, will assume the role of Chairman on May 4. The company also elected three new board members—Stacia Andersen, Jodi Bricker and DeMonty Price.
361 Degrees Posts 17 Percent Revenues Growth In 2022
Hong Kong-based 361 Degrees International Ltd. reported earnings grew 24.2 percent in the year ended December 31 as sales expanded 17.3 percent.
National Ski & Snowboard Retailers Association Selects New Board Leadership
The National Ski & Snowboard Retailers Association (NSSRA), at its Board of Directors meeting on March 9, appointed Tracy Gibbons of Sturtevant’s (Bellevue, WA) as Chair, Robb Shepherd of Shepherd & Schaller Sporting Goods (Wausau, WI) as vice chair and Jon Morrill of Kittery Trading Post (Kittery, ME) as secretary/treasurer.
Lands’ End Lands In The Red In Fourth Quarter
Lands’ End, Inc. reported a loss of $3.3 million in the fourth quarter ended January 27 as sales declined 4.6 percent and gross margins eroded 340 basis points due to promotional activity.
Fanatics Enters Into Partnership Deal With Royal Belgian Football Association
The Royal Belgian Football Association (RBFA) has entered into a long-term e-commerce and merchandising partnership with Fanatics to enhance the shopping experience for fans of the Belgium National Football Team.
Signa Sports Fiscal Q1 Sales Up 27 Percent But Margins Suffer From Inventory Woes
Signa Sports United N.V. reported that the operating environment in the first quarter of fiscal 2023 was a continuation of the prior quarter, with depressed consumer sentiment and a promotional overstocked market, in particular in the bike category.
Academy Sports Q4 Earnings Fly Past Wall Street Targets
Academy Sports and Outdoors Inc. reported earnings on an adjusted basis increased 12.5 percent in the fourth quarter ended January 28 as lower freight costs and overall operating expenses offset a 5.1 percent decline in same-store sales. EPS easily topped analysts’ consensus estimates while sales were below.
G-III Apparel Reports Q4 Loss On Goodwill Impairment Charges; Sales Grow Mid-Teens
G-III Apparel Group, Ltd. reported that net sales for the fourth quarter ended January 31 increased 14.2 percent to $854.4 million from $748.2 million in the prior-year quarter. The company reported a net loss of $261.1 million, or $5.54 per share, for the fourth quarter, compared to net income of $48.4 million, or 98 cents per diluted share, in the prior-year quarter.
February Retail Sales Rise 5.4 Percent Year-Over-Year
Overall retail sales dipped slightly in February, but core spending rose, according to data reviewed by the National Retail Federation.
Sweet Protection Names NA Sales Manager
Sweet Protection, the maker of performance helmets, goggles and technical clothing, reported that industry veteran Ryan Davis was hired as North American sales manager, responsible for accelerating the company’s development in the snow and bike categories.
Pou Sheng International Appoints CEO
The Pou Sheng International (Holdings) Limited board of directors re-designated Wang Jun, the acting CEO, as CEO effective March 15.
Marriott Appoints Dick’s CEO To Board Seat
Marriott International, Inc. elected Lauren Hobart, president and chief executive officer of Dick’s Sporting Goods and Grant F. Reid, former president and chief executive officer of Mars, as independent directors.
Hypetex Appoints Michael Dowse To Board
Hypetex, a UK company that makes colored carbon fiber using sustainable colorization materials, appointed Michael Dowse, former long-time president of Wilson Sporting Goods, as a non-executive director and board member.
Sporting Goods Retail Industry Icon Jim Chick Passes Away
The National Sporting Goods Association shared that former NSGA board member and board chair, Jim Chick, passed away. Chick was president & CEO of Chick’s Sporting Goods, headquartered in Covina, CA, for nearly 40 years. He was a member of the NSGA board of directors from 1985 to 1994 and was the board chairman in 1992.
Nordstrom Adding Two Rack Stores In Fall 2023
Nordstrom, Inc. reported plans to open two stores in fall 2023—a Nordstrom Rack in Natomas, CA, and a Rack store in San Antonio, TX.
