SGB Update Footwear

ICSC Survey Finds In Thanksgiving Weekend Spending

The International Council of Shopping Centers (ICSC) reported that its Post-Thanksgiving Weekend survey showed more than half of consumers (56 percent) said they shopped just as much or more than in the past, an increase of 6 percentage points from 2022.

Report: Saks Bids For Neiman Marcus

Saks Fifth Avenue offered $3 billion to acquire Neiman Marcus, according to the Wall Street Journal. The offer was rejected but the two chains continue negotiations with the major objection being the terms of the deal.

Bandier Seeks Sale Amid Credit Pressures

Bandier, the women’s activewear brand, is seeking a buyer for substantially all of its assets, including inventory and intellectual property, as part of a “General Assignment for the Benefit of Creditors” to avoid a formal bankruptcy filing.

Reebok Inks Licensing Partner For Sports Equipment

Authentic Brands Group has entered into a long-term licensing agreement with Sakar International to design and distribute Reebok-branded basketball, pickleball, baseball, soccer, and football equipment and electronics, including audio, tech and massage products.

Hanesbrands Gets Debt Ratings Downgrade

Moody’s Investors Service downgraded Hanesbrands, Inc.’s debt ratings to reflect the company’s significant earnings declines through 2023 and Moody’s expectation that leverage and coverage credit metrics will remain weak through the first half of 2024.

5.11 Tactical to Transition Senior Leadership

Francisco J. Morales, co-founder and former CEO will be promoted to executive chair of the Board of Directors, while 5.11 Board member Troy R. Brown will become CEO, effective January 1, 2024.

Tilly’s Posts Q3 Loss Amid Markdowns and Sales Declines

Tilly’s, Inc. reported a loss against a profit in the third quarter on higher promotions and a 9 percent decline in sales. Sales were at the lower end of the retailer’s guidance although the loss was lower than expected. The action-sports chain expects Q4 comps to decline between 9 percent and 6 percent.

Zumiez Posts Q3 Loss But Tops Guidance; Sales Slide 9 Percent

Zumiez, Inc. reported a loss in the third quarter ended October 28 on an 8.9 percent decline in sales but results topped the retailer’s guidance and sequential improvement was seen compared to the first two quarters of the year. Sales are down 4.6 percent so far in the current quarter. 

Report: U.S. Retail Footwear Sales Dip for Thanksgiving Week

Footwear units sold reportedly declined 4 percent in the week ending November 25, but dollar sales declined at a softer rate of 1 percent due to a 4 percent increase in average selling prices (ASPs)., according to Circana’s point-of-sale data.

SGB Today

Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners

Post your Product or Marketing News in the SGB PR Portal