SGB Update Footwear
Under Armour Names Chief Design Officer
Under Armour announced that fashion industry veteran John Varvatos will join the company as chief design officer, leading the design direction for the company and overseeing its design studios in New York, Baltimore and Portland, OR.
SGB Media Releases August 2023 Most Read Articles, Key Metrics
SGB Media published a quick review of the top stories from August 2023 that drove pageviews up 14 percent month-over-month to almost 184,000, while total users grew 10 percent and time spent on the site by each user rose 19 percent for the period.
Active Lifestyle Stocks Move in S&P 500, S&P MidCap 400 Indices
Newell Brands and Foot Locker are moving to the SmallCap 600 from their former positions in the S&P 500 and S&P MidCap 400, respectively, and Vail Resorts, Inc. enters the S&P MidCap 400 index.
Sportsman’s Warehouse Opens First Storefront In Arkansas
Sportsman’s Warehouse opened a store in Hot Springs, marking its first retail location in Arkansas.
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.
