SGB Update Footwear
Sports Inc. Renews Partnership With OrderMyGear
Sports, Inc. renewed its partnership with OrderMyGear. Under the multi-year agreement through 2025, OMG maintains the title of Sports, Inc.’s preferred provider of online team stores and group ordering for members.
Frasers Group Forms Joint Venture To Expand In Indonesia
Frasers Group Asia announced a new joint venture agreement with PT Map Active Indonesia to launch Sports Direct in the country. The retail group said the deal is “the first step in a region-wide expansion” between the two and will see the introduction of Sports Direct’s stores across Indonesia, including both the wholesale and retail components.
Timberland Taps Nike Vet As Chief Merchandising Officer
Timberland tapped Nike veteran Archie McEachern for the newly created position of vice president and chief merchandising officer, reporting to global brand president Susie Mulder.
Apparel Group Inks Partnership With Clarks To Expand Saudi Arabia Retail
Apparel Group has inked a strategic partnership with the Clarks footwear brand to expand the Clarks retail footprint across the Kingdom of Saudi Arabia with plans to inaugurate more than 20 stores over the next five years.
Keen Making Price Cuts To Clear Inventory, Support Retailer Discounting
Keen Footwear is creating a buzz in the market as the brand announced to consumers and retailers last week that it is offering lowered prices on nearly every Keen shoe available through retail partners and their retail site.
Report: StockX Platform Rejected Nearly $90 Million Worth Of Products Over 12 Months
A new StockX report reveals that in the past year, StockX rejected nearly $90 million worth of products that did not meet verification standards. It also outlines quality control metrics including the top reasons products are rejected during the verification process.
Torrid Holdings Sees Q1 Net Income Halved As Comps Fall 14 Percent
Torrid Holdings Inc. reported that fiscal first quarter net sales decreased 11.8 percent to $293.9 million. Comparable sales decreased 14 percent. Net income was $11.8 million, or 11 cents per share, in the quarter, compared to net income of $24.1 million, or 23 cents per share in Q1 last year.
Adidas Offers Student Loan Assistance For U.S. Employees
Adidas announced a new program to help U.S. employees working in any area of the company pay off their student loans.
Tommy Bahama Parent Gets Lift From Johnny Was Acquisition To Post Solid Q1 Results
Oxford Industries, Inc. reported that consolidated net sales in the first quarter ended April 29 increased 19 percent to $420 million. On an adjusted basis, EPS increased to $3.78 compared to $3.50 in the first quarter of fiscal 2022.
DSW Parent Lowers Outlook As Q1 Results Arrive Below Plan
Designer Brands, Inc., the parent of DSW, Keds and Topo Athletic, reduced its outlook for the year after reporting first-quarter results came in slightly below plan and weakening consumer trends. Doug Howe, CEO of Designer Brands, said, “”As the consumer remains cautious, we are approaching the remainder of the year and the trajectory of the recovery in our business with heightened consideration.”
NRF Elects Five New Board Members At Summer Board Meeting
The National Retail Federation elected five new members to the organization’s Board of Directors during the trade association’s summer board meeting in Washington, D.C.
NRF Expects Imports For First Half To Be 22 Percent Below H1 Last Year
Import cargo volume at the nation’s major container ports is expected to be 22 percent lower during the first half of 2023 than the same time last year despite increased consumer spending, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Report: Shopping Centers Continue To Bear Brunt Of Retail Traffic Slowdown
The latest update to Placer.ai’s Mall Index, Placer.ai Mall Index – May 2023 Recap, shows that shopping malls continue to bear the brunt of consumer concerns regarding the economy, as foot traffic fell year-over-year at indoor malls, open-air lifestyle centers, and outlet malls.
U.S. Polo Assn. Targets $3 Billion In Global Sales By 2030 After Strong 2022 Results
U.S. Polo Assn., the official brand of the United States Polo Association (USPA), broke the $2 billion milestone in 2022, delivering a record $2.3 billion in global retail sales for the year.
NRF: Economic Conditions Look Like A Soft Landing, Not Recession
Economic indicators are giving conflicting signs but the nation does not appear to be in a recession and should be headed toward a soft landing from the rampant inflation and high interest rates of the past two years, according to National Retail Federation Chief Economist Jack Kleinhenz.
