SGB Update Footwear
NRF: Back-To-School Shopping Expected to Reach Record Levels
Back-to-school spending is expected to climb 12.4 percent while back-to-college shopping will increase about 27 percent this year as both tiers reach recording spending levels, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
Dr. Martens Sees EMEA and APAC Offsetting Americas Declines This Year
Dr. Martens plc said sales since the start of its fiscal year ended March 31, 2024, are in line with plan, with strength in the EMEA and APAC regions offsetting declines in the Americas. The footwear brand forecasted “meaningful improvement” in its DTC revenue in the Americas region in the fiscal second half.
Diddy Launches Online Marketplace for Black Entrepreneurs
Sean “Diddy” Combs launched Empower Global (EG), an e-commerce platform for selling products created and sold by Black entrepreneurs.
Authentic Brands Group Names Chief Financial Officer
Authentic Brands Group (Authentic) named Kevin Wills as chief financial officer. Wills is based in the company’s New York headquarters and reports to Founder, Chairman and CEO Jamie Salter.
Amazon Sees ‘Biggest Ever’ Prime Day
U.S. online sales rose 6.1 percent to $12.7 billion during Amazon’s Prime Day two-day sales from July 11- 12, according to Adobe Analytics, which measures transactions at U.S. retail sites. Amazon called the first 24 hours of Prime Day the “single largest sales day in company history,” but did not disclose total sales.
Deloitte: BTS Spending Expected to Decline as Inflation Takes its Toll
Deloitte’s 2023 back-to-school survey found that spending for K-12 students is expected to decrease 10 percent to $597 per student. Deloitte also found that after 18 months of inflation, higher prices weigh on K-12 families preparing for the upcoming school year.
Zumiez, Inc. Appoints Foot Locker, Inc. Vet to Board
Zumiez, Inc. appointed Guy M. Harkless to its Board of Directors to serve as an independent Class II director for a term expiring at the company’s 2025 annual meeting of shareholders. Harkless will also serve on Zumiez Audit Committee.
ORR Launches Hub for Growing Outdoor Workforce
The Outdoor Recreation Roundtable launched an Outdoor Workforce Hub on its website, developed with support from The VF Foundation, for employers, educators, those interested in joining the outdoor recreation industry, and those looking to expand their careers.
Rip Curl, Oboz Parent Reiterates NZ$1.1 Billion Sales Outlook for Fiscal Year
KMD Brands, the parent company of Rip Curl, Oboz and Kathmandu brands, reported it is on track to deliver a record A$1.1 billion in full-year sales, despite softening consumer sentiment in the fiscal fourth quarter.
TMC Ltd Names Director Business Development Europe
TMC, Ltd., owner of the Nuyarn and Herculan technologies and innovators in the performance yarn and fabric space, hired Timo Pape as director of business development in Europe.
Kyrie Irving Inks Five-Year Shoe Deal with Anta
Anta signed Dallas Mavericks star guard Kyrie Irving to a new shoe deal running five years. The agreement comes after Irving and Nike ended their partnership last December.
On Holding Secures CHF 700 Million Credit Facility
On Holding AG said in a regulatory filing that it had entered into a CHF 700 million multicurrency credit facility agreement led by UBS Switzerland AG.
Under Armour’s Principal Accounting Officer To Exit
Under Armour reported in a regulatory filing that Aditya Maheshwari, senior vice president and principal accounting officer, was leaving the company on August 25 to work for a public company. CFO David Bergman will be appointed on that date as the principal accounting officer for UA.
Grassroots Sees a Mostly Positive Outlook at Connect; Inventory Still a Worry
Grassroots Outdoor Alliance (GOA) reported that specialty retail has had a strong year-to-date for 2023 as more than half of Grassroots retailers met or exceeded 2022 growth.
Balega Founders Launch New Specialty Running Sock Brand
Tanya and Bert Pictor, the founders of Balega Socks, and Luke Rowe, a running industry veteran, have launched a new running sock brand, Jogology, to be sold exclusively at run specialty stores beginning in September.
