SGB Update Footwear
SAS Renews Athletic Shoes Program With Defense Logistics Agency
San Antonio Shoemakers (SAS) was awarded a three-year renewal contract with the Defense Logistics Agency (DLA) to produce specialized footwear for the basic training of U.S. service members.
Report: Labor Still A Top Challenge For Manufacturers As Optimism Remains Low
As rising interest rates, poor economic conditions and an ongoing talent shortage continue to plague manufacturers, optimism amongst industry leaders remains low, according to a new industry report.
VF Corp.’s Debt Ratings Downgraded By S&P
S&P Global Ratings lowered its debt ratings on VF Corp. due to its below-plan results for the fiscal year ended April 1. The rating agency said it believes elevated inventory from realignment in the wholesale channel and weakened consumer demand will continue to pressure its credit metrics in fiscal 2024 and delay the recovery of its largest brand, Vans.
Oboz Footwear Names Independent Sales Reps For Two Key Territories
Oboz Footwear named Stoner//Andrews and Evergreen Outdoor Group to represent the brand in New England and the Northwest, respectively.
BRC: May U.K. Retail Growth Moderates Despite Trio Of Bank Holidays
U.K. total retail sales increased 3.9 percent in May, against a decline of 1.1 percent in May 2022; this is below the 3-month average growth of 4.7 percent and above the 12-month average growth of 3.4 percent.
Academy Sports Trims Full-Year Outlook On Q1 Shortfall
Academy Sports and Outdoors, Inc. slightly reduced its guidance for the year after reporting results for the first quarter ended April 29 missed plan although the sporting goods chains predicted sales would improve in the back half of the year.
Bala Footwear Brand Founded By Former Nike, UA Execs Acquired By Careismatic
Careismatic Brands, Inc. reported it acquired Bala footwear, a nursing footwear company. Bala was founded in 2020 in Portland, OR, by former Nike executives Brian Lockard and John Eberle and former Under Armor executive Caprice Neely.
VF Corp. Launches Operations At New Ontario, CA Distribution Center
VF Corp. started operations at its new distribution center in Ontario, CA, employing approximately 550 people during peak periods. The company said the new 1.2 million-square-foot facility is the largest and most efficient within its global network of 46 distribution centers.
New Balance Breaks Ground On Maine Factory Expansion
New Balance broke ground to expand its athletic footwear manufacturing factory in Skowhegan, ME. The $65 million, 120,000-square-foot single-story addition, scheduled to be completed by the end of 2024, will add 200 jobs and double the factory’s production capabilities.
Nike Opens A Nike Live Location In Kentucky
Nike opened a Nike Live store at the Oxmoor Center, a shopping mall in Louisville, KY. Dubbed “Nike by Louisville,” the 4,900-square-foot space sits between Dick’s Sporting Goods and Von Maur department store.
SGB Media Reports Top 25 Most-Read Articles For May 2023
SGB Media’s Top 25 most-read articles for May 2023 include the unfortunate news about an industry leader passing away; staff cuts at various companies; a lawsuit against former employees; tough Q1 results amid heavy inventories for both brands and retailers; and several reports covering the Adidas x Yeezy debacle. On the upside, the top stories SGB Media covered for the month included…
Saks Survey: Luxury Spending Shifts To Travel, Savings
Saks’ latest Luxury Pulse Survey*, fielded in late April and early May, found that respondents were concerned (60 percent) about the overall economy but optimistic (67 percent) about their financial situation. Compared to the retailer’s last survey in late January, spending on luxury goods decelerated as consumers focused more on savings and travel.
Mark Nenow Resigns As President Of Sorel Brand
Columbia Sportswear Company announced that Mark Nenow, president of the Sorel brand, has resigned to focus on his health.
Authentic Acquires Hunter Brand IP; Taps Batra Group And Marc Fisher As Partners
Authentic Brands Group (Authentic) has acquired the intellectual property of the Hunter brand. Authentic said the Hunter brand has evolved over 160-plus years from a rubber boot to a lifestyle brand, offering an expansive footwear collection, outerwear, bags, and accessories.
Dr. Martens’ Revenues Expand 4 Percent Currency-Neutral In Fiscal Year
Dr. Martens plc reported sales rose 10 percent in its fiscal year ended March 31 to £1,0 billion ($1.25 bn) from £908.3 million a year ago. Sales on a currency-neutral basis grew 4 percent.
