SGB Update Footwear
Empower’s Back-To-School Study Finds High Inflation Concerns
A survey conducted by Empower.com found that 85 percent of the parents they interviewed were impacted by inflation, affecting their ability to spend money this year for their kid’s back-to-school items.
361 Degrees Sees Profit Growth of 25 Percent or More in First Half
The company outlined four reasons for the strong double-digit profit growth for the six-month period ended June 30, 2023.
Under Armour Launches Rewards Program
Under Armour, Inc. launched its “UA Rewards” loyalty program that gives points to customers based on purchases, posting reviews and achieving fitness challenges.
Report: Birkenstock IPO Estimated at $8 Billion Valuation
L Catterton, Birkenstock’s private-equity owner, is looking to take the Germany-based footwear manufacturer public in September in the U.S. at a valuation of more than $8 billion, sources told Bloomberg.
Reebok Secures Licensing Partner for Central and Eastern Europe
Authentic Brands Group reported it signed a ten-year licensing contract with The CCC Group (CCC), a footwear company, for Reebok in Central and Eastern Europe.
Ebay Investing in Re-Commerce and Authenticity Focus of Younger Consumers
Ebay said revenue was $2.54 billion for the second quarter, up 5 percent on an as-reported basis and up 6 percent on a currency-neutral basis.
REI to Open Store in Albany
REI signed a ten-year lease at Crossgates Mall in Albany, its first store in New York’s capital region.
BRC: Britain Loses 6,000 Storefronts Over Last Five Years
Crippling business rates and the impact of the COVID lockdowns were said to be a key part of decisions for retailers to close stores and think twice about new openings, according to recent analysis by the British Retail Consortium.
Report: Off-Price and Children’s Well-Positioned for BTS Foot Traffic Surge
Following a lull in April and May, the 2023 back-to-school season is giving retail, and especially the wider apparel segment, a major boost, according to new data from Placer.ai.
Newell Brands Outdoor & Recreation Core Sales Fall 21 Percent In Q2
Newell Brands, the parent company of Marmot, Ex Officio, Stearns, Bubba, Coleman, and Contigo, among others, generated net sales of $333 million, down 22.0 percent compared with $427 million in the prior year period. The decline reflects a core sales decline of 20.9 percent, as well as the impact of unfavorable foreign exchange.
Adidas to Release More Yeezy Inventory in August
Adidas will reportedly go back to the Yeezy well in August after a very successful first-selling effort in May and June boosted second-quarter revenues and prompted Adidas to raise its outlook for the year.
FDRA: Back-to-School Shoe Shoppers Prioritizing Deals
The Footwear Distributors and Retailers of America (FDRA) released its 2023 Back-to-School Shoe Sales Forecast, outlining that parents seek in-store deals and prioritize price.
Report: Tennis Apparel and Footwear Sales Growing at Double-Digit Pace
In the U.S., sales revenue for tennis apparel increased by 15 percent in the 12 months ended June 2023 and is up 38 percent versus three years ago, according to Circana. Tennis shoe sales grew by 21 percent versus the prior year and increased 37 percent compared to three years ago.
Outdoor Recreation Roundtable Appoints Senior Program Director
Outdoor Recreation Roundtable, the coalition of outdoor recreation trade associations that collectively represents the $862 billion outdoor recreation economy, hired Ambreen Tariq as senior program director.
Deckers Brands Lifts Outlook on Hoka and DTC Momentum
Deckers Brands raised its outlook for the year after reporting results for the fiscal first quarter ended June 30 that surpassed analyst targets. Direct-to-consumer growth net sales increased 35.3 percent to offset a slight wholesale decline. Among major brands, sales of Hoka’s jumped 27.4 percent while Ugg’s sales decreased 6.0 percent.
