SGB Update Footwear
Retail Sales Up Again in June Despite Slower Job Growth
The U.S. Census Bureau is reporting overall retail sales in June were up 0.2 percent from May and up 1.5 percent year-over-year (YoY). Sporting goods stores were down 1 percent MoM seasonally adjusted and down 0.9 percent unadjusted YoY.
Academy Is Opening Two More Stores In Central Texas In F23
Academy Sports and Outdoors, Inc. reported it will open two new stores in Central Texas this fall in Brenham and Kyle, respectively and is on track to open 13-to-15 stores in 2023, with the goal of opening 120-to-140 new stores by the end of 2027.
Hotter Shoes Parent to Appoint Administrators to Sell Operating Subsidiary
Unbound Group, the parent company of British footwear retailer Hotter Shoes, suspended trading of its shares on the London Stock Exchange and appointed administrators for its primary operating subsidiary, Beaconsfield Footwear, Ltd., after failing to find a buyer or to raise capital to restructure the business.
Wolverine World Wide, Inc.’s Debt Ratings Outlook Lowered
S&P Global Ratings revised its outlook on Wolverine World Wide Inc. due to the footwear company’s recent underperformance and challenging conditions going forward.
361 Degrees International Posts Low-Teens Retail Sales Growth in Q2
361 Degrees International Limited reported its retail sales (in terms of the retail value) of 361° core branded products for the second quarter of 2023 posted low-teens growth compared to the comparable period of 2022.
Ross Stores Opens 27 New Stores in July
Ross Stores opened 18 Ross Dress for Less and nine DD’s Discounts stores across 14 states in June and July as part of the company’s plan to add approximately 100 new stores—75 Ross and 25 DD’s Discounts—during fiscal 2023.
Journeys Launches Second-Hand Resale Program
Journeys launched Journeys Second-Hand, an apparel resale program where customers can shop secondhand apparel through the company’s website and resell their worn clothing for a Journeys shopping credit.
Signa Sports Adds Accell Group’s Former CEO to Board
Signa Sports United N.V. (SSU) announced plans to appoint Anthonie Anbeek, most recently CEO of Accell Group, to its Board of Directors, effective April 1, 2024.
Canada Ports Strike to End After Tentative Deal Is Reached
A 13-day-old strike that disrupted shipments at Canada’s western ports, including the Port of Vancouver and Prince Rupert, is scheduled to end after the dockworkers’ union and a group of employers agree on a tentative deal.
Ponto Footwear Names Former Wolverine, TNF Executive as President
Ponto, the sustainable footwear brand based in Encinitas, CA, hired Barry McGeough as brand president. Most recently, McGeough was the global vice president for product and digital innovation at Wolverine Worldwide.
Report: Footwear Retailers Top Retail Foot Traffic Gains Since 2020
Shoe store visits quickly bounced back following the first days of the pandemic when restrictions all but sidelined retail foot traffic and Nike, WSS and Boot Barn look to be well positioned for continued growth for back-to-school based on a report from Placer.ai.
REI Honors Vendor Partner of the Year, Gives Divisional Awards to Four Brands
REI Co-op honored On with its 2023 Vendor Partner of the Year award. The retailer said, “that by marrying style, comfort and functional performance, On continues to bring compelling, functional innovation to REI and attracts customers of all ages and backgrounds to running and hiking season after season.”
FESI Responds to European Parliament Proposal on Sustainable Product Regulation
The Federation of European Sporting Goods Industry said this week that it commends the Parliament’s efforts in recognizing the trade-offs involved in establishing eco-design requirements, a crucial step toward advancing sustainability and environmental responsibility within the sporting goods industry.
British Sneaker Brand Arne Expands to U.S.
Arne, the sneaker and casual apparel brand based in the U.K., announced its expansion into the U.S. market. Plans include flagship stores in New York and Los Angeles and pop-up shops in to-be-announced locations.
Report: Online Prices Fall 2.6 Percent in June, a 36-Month Low
Adobe reported in its Digital Price Index (DPI)* that online prices in June 2023 fell 2.6 percent year-over-year (YoY), the most significant decrease since May 2020, when prices fell 1.5 percent YoY.
