SGB Update Footwear
Active Brands Group Hires E-Commerce Manager
Sweden-based ABG hired Rohan Callander as e-commerce manager responsible on expanding the DTC business for its portfolio of brands.
DSW Parent Company President to Depart
Designer Brands, Inc. said in a regulatory filing that William Jordan, president of the company and president of Camuto LLC, is stepping down from his positions with the company on or before December 1, 2023.
Wolverine’s Debt Ratings Lowered by Moody’s
Moody’s Investors Service downgraded the debt ratings of Wolverine World Wide, Inc., reflecting the company’s significant earnings decline in Q2 2023 and Moody’s expectations for continued weak near-term performance. S&P Global Ratings similarly recently reduced its rating.
Shoe Carnival Reduces Outlook on Weakness in Urban Markets
Shoe Carnival, Inc. slightly lowered its outlook for the year as second-quarter earnings and sales missed analysts’ estimates. The family footwear chain said that while overall conditions improved from earlier in 2023, soft traffic results continued within lower-income households and urban markets to lead to a 6.5 percent same-store decline in the quarter.
Report Forecasts Flattish Online Growth in U.S. for Holiday 2023
Salesforce’s 2023 Holiday Forecast calls for 4 percent global and 1 percent U.S. year-over-year online sales growth across November and December, reaching $1.19 trillion and $273 billion, respectively.
OrthoLite Bolsters Sales Team in China
OrthoLite added to its sales management team in China, appointing Chuck Yu as director of sales strategy and John Liu as sales manager.
Golf Rounds Played Climb in July
Rounds of golf played advanced 3.2 percent in July and are running up 5.0 percent for the first seven months of 2023, according to Golf Datatech.
Authentic Reaches Deal for Hunter Boots IP in China
Authentic reached an agreement for Baozun, Inc. to acquire the intellectual property rights to Hunter boots for distribution in China and Southeast Asia.
Bass Pro Shops Set to Open In Loveland, CO
Bass Pro Shops announced plans today to open a retail store in Loveland, CO. The opening of the 130,000-square-foot Outdoor World, expected to open in 2025, is the retailer’s sixth Bass Pro Shop in Colorado.
Hibbett’s Q2 Profits Tumble Year-Over-Year, Top Wall Street’s Targets
Hibbett, Inc.’s second-quarter profits fell 55.9 percent but still topped analyst targets with some strength in footwear offsetting apparel weakness. The sporting goods chain reiterated its full-year outlook, bucking a trend that saw competitors, Dick’s Sporting Goods and Foot Locker, lower guidance this week.
Pinnacle Outdoor Group Names Sarah Maher General Manager
The agency said Maher had been operating in this role since 2022, overseeing strategic development and sales operations in addition to her role as the agency’s Vermont sales rep.
Athleta Q2 Comps Slide 7 Percent; Parent Gap Inc. Swings to Profit
Athleta net sales totaled $341 million for Q2, down 1 percent compared to last year. While sales continue to be impacted by product acceptance challenges, the brand has taken near-term actions to improve product presentation and creative.
Nordstrom’s Q2 Profits Fly Past Analyst Targets
Nordstrom, Inc., reported earnings in the second quarter improved 8.7 percent year-over-year and nearly doubled Wall Street’s consensus target. The upscale department store chain said it benefited from continued progress on key priorities of Nordstrom Rack improvement, inventory productivity and supply chain optimization. Guidance was maintained for the year.
Grassroots Outdoor Alliance Promotes Dana Howe to Vice President
Grassroots Outdoor Alliance (GOA) promoted Dana Howe, director of membership and education, to vice president.
Shein Partners with Sparc to Drive Forever 21’s Growth
Sparc Group Holdings, the joint venture between Authentic and mall operator Simon Property Group, partnered with Shein, the Chinese e-commerce platform, to support the company’s Forever 21 business.
