SGB Update Footwear

Saks’ Q2 Revenues Drop 13 Percent

Saks Global Enterprises reported a wider loss in the second quarter as sales declined 13 percent to $1.6 billion. The luxury retailer also reduced its outlook for the year due to part to ongoing inventory shortages.

Amazon Hiring 250K Holiday Workers for Third Straight Year

Amazon is hiring 250,000 workers for this year’s U.S. holiday season, matching the number added in each of the past two years. These jobs span fulfillment and transportation roles nationwide, including rural areas.

Lowa’s U.S. HQ Relocating to Salt Lake City

Lowa Boots to move its U.S. headquarters to Salt Lake City from Stamford, CT in Spring 2026 to be integrated into its parent’s Tecnica Group U.S. operations, with warehouse operations moving later in the year. The move follows the retirement of long-time U.S. general manager, Peter Sachs.

VF Corp. Veteran Corey Stecker Steps Down

Corey Stecker elected to depart VF Corp. after 18 years. Most recently, he was the managing director of Altra, Smartwool and Icebreaker in Canada. He announced his exit on LinkedIn.

Bombas to Open First Stores

Bombas, known for socks, basic apparel and its “buy one, donate one” model, announced it will open its first store this fall in New York City, followed by locations in Austin, TX, and Boca Raton, FL. These will mark the company’s first physical stores.

Deloitte: U.S. Consumers Have Worst Economic Outlook Since 1997

On average, U.S. consumers plan to spend 10 percent less this holiday season, seeking deals amid higher prices, according to Deloitte’s 2025 Holiday Retail Survey. In September, Deloitte forecast retail sales during the holiday selling period to increase between 2.9 percent and 3.4 percent in 2025.

Birkenstock Acquires Australian Distributor

Birkenstock Holding plc has entered into a definitive agreement to acquire its long-time distributor, Birkenstock Australia Pty. Ltd. Birkenstock said its “commitment to invest in the Australian market will further unlock the growth potential of one of Birkenstock’s largest markets in the APAC region.”

PGA Show Adding Racquet Sports to Event

The PGA Show is adding a Racquet Sports section to its upcoming January show in Orlando, FL, following strong recent participation increases across tennis, pickleball and padel.