SGB Update Footwear
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.
NRF: Consumers To Spend Record Amount For Father’s Day
Consumers will collectively spend a record-high $22.9 billion to celebrate Father’s Day this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. The total expected spending for the holiday is up 14.5 percent from last year’s $20 billion and exceeds the previous record of $20.1 billion in 2021.
Costco U.S. Non-Fuel Comp Store Sales Up 1.7 Percent In May; E-commerce Falls
Costco Wholesale Corporation reported net sales of $18.45 billion for the retail month of May, the four weeks ended May 28, 2023, an increase of 1.2 percent from $18.23 billion last year.
Nike Apparel To Return To Macy’s
On its first-quarter analyst call, Macy’s confirmed that Nike apparel would return to its selling floors. Nike ended distribution to the department store in 2021.
Tilly’s Inc. Sees Better May Results After Q1 Loss And 17.5 Percent Comp Decline
Tilly’s, Inc. reported total net sales for the fiscal first quarter ended April 29 were $123.6 million, a decrease of 15.2 percent from Q2 last year. Comp store sales improved sequentially through May, declining 11.5 percent.
EBay Launches Authentication For Streetwear
EBay expanded its Authenticity Guarantee program to streetwear, marking the expansion of its authentication service to a sixth category, which includes sneakers, watches, jewelry, handbags, and trading cards.
Zumiez Logs Q1 Loss As Sales Decline 17 Percent
Zumiez Inc. reported a loss in the first quarter ended April 29 as sales declined 17 percent. Results were in line with guidance with the weakness blamed on weak demand and the promotional environment. For the current quarter, another loss is expected on a sales decline of about 14 percent.
