SGB Update Footwear
Report: HS Sports Participation Continues Post-COVID Rebound
Participation in high school sports eclipsed 7.8 million in the 2022/23 school year, reflecting a sharp increase from the previous year as the National Federation of State High School Associations (NFHS) completed its High School Athletics Participation Survey for a second time after the pandemic interrupted its data collection.
Mizuno Adds 25-year Industry Product Vet to Leadership Team
The company added Chris Brewer to its leadership team to focus on the running category.
Authentic Closes on Acquisition of Boardriders
Authentic issued a quick statement late Friday morning that it had closed on the acquisition of street- and actions sports-lifestyle brands Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, VonZipper, Honolua, and Boardriders.
REI to Open in Ithaca, NY
REI Co-op plans to open a store in Ithaca, NY in the summer of 2024 and hire approximately 50 employees.
JCPenney Sets $1 Billion Modernization Program
Furthering turnaround efforts, JCPenney announced it will reinvest more than $1 billion into the business by fiscal year 2025 to “elevate the customer experience and gain operating efficiencies.”
Globe International CFO and Company Secretary to Depart at Year-End
Chief Financial Officer and Company Secretary Jessica Moelands, a 20-year company veteran, tendered her resignation from Globe International. Globe said Moelands will finish her employment with the company on December 31, 2023.
Wolverine Worldwide Continues Brand Portfolio Consolidation with New Deals
The company has sold the Hush Puppies intellectual property in China, Hong Kong and Macau, to its current sublicensee, Beijing Jiaman Dress Co., Ltd., and sold the U.S. Wolverine Leathers business to New Balance.
Tilly’s, Inc. Sees Improving Comp Trends in Fiscal Third Quarter
Total comparable net sales through August 29, 2023, including both physical stores and e-commerce, decreased by 3.9 percent relative to the comparable period last year.
Ross Stores Sets Changes to Board Leadership
Ross Stores, Inc. announced that George Orban is stepping down as chairman but will continue to serve as an independent director. Michael Balmuth, a strategic advisor to the company, is returning as executive chairman of the board. K. Gunnar Bjorklund is taking on the role of lead independent director.
Lululemon’s Raises Outlook As Q2 Comps Jump 11 Percent
Lululemon Athletica, Inc. raised its guidance for the year as second-quarter results exceeded expectations. Earnings rose 21.6 percent on an adjusted basis in the quarter with revenues ahead 18 percent. Comparable sales increased 11 percent or 13 percent on a constant dollar basis.
Kids Footwear Brand Founded by Industry Vets Closes Seed Round
Adidas and Mizuno vet Mike Gugat leads the brand as CEO. Jbrds was co-founded with Gugat by podiatrist and foot and ankle surgeon Dr. Jay LeBow as chief product officer and sporting goods merchant David Hirshfeld.
Crocs Hires Erinn Murphy to Lead IR and Corporate Strategy
She joins Crocs, Inc. from investment bank Piper Sandler. Crocs said she has nearly 20 years of “deep experience” in the financial industry and a “proven track record” of top research performance.
Academy Sports’ Q2 Tops Wall Street Targets
Academy Sports and Outdoors, Inc. reported second-quarter earnings came in just ahead of analyst expectations. Same-store sales declined 7.5 percent in the quarter but improved throughout the quarter. Academy reiterated its sales guidance while raising its EPS outlook due to share repurchases.
The Buckle’s Comps Slide 5 Percent in August
The Buckle, Inc. announced today that comparable store net sales, for stores open at least one year, for the 4-week period ended August 26, 2023 decreased 5.0 percent from the year-ago period.
Famous Footwear Parent Sees Q2 Profit Exceed Estimates on Above-Plan Margins
Caleres, Inc. delivered second-quarter earnings ahead of expectations and reiterated its guidance for the year. Sales in the quarter were down 5.2 percent at Famous Footwear and 7.2 percent at its Branded Portfolio segment but both showed improving trends sequentially versus the first quarter.
