SGB Update Footwear
Nike Launches Hydrogen-Powered Inland Container Ship
Nike has launched a hydrogen-powered inland container ship, the H₂ Barge 1, to transport its products bound for Europe and to support its sustainability goals.
Adidas Court Order Freezing $75M Held By Kanye’s Yeezy Brand Overturned
A federal judge on May 26 lifted a court order Adidas won last year that secretly froze $75 million in bank accounts held by Kanye West’s Yeezy brand.
Emerald Expositions’ Debt Ratings Unaffected By Loan Amendment
Moody’s Investors Service reported that Emerald Expositions’ proposal to amend and extend its first lien term loan is credit positive, and it does not affect the company’s B2 corporate family rating, B2 senior secured credit facility rating or its stable outlook.
Foot Locker’s Debt Ratings Outlook Lowered To Negative
S&P Global Ratings lowered its outlook on Foot Locker to negative from stable as the sneaker chain lowered its full-year guidance due to a combination of inflationary pressures, higher-than-expected discounting initiatives and weak consumer spending.
Lululemon To Expand Vancouver Headquarters, Commits To Hiring 2,600
Lululemon reported plans to expand its headquarters in Vancouver, promising to create 2,600 jobs over the next five years. In 2022, Lululemon employed nearly 9,000 people in Canada.
Eastern Mountain Sports Opens Third New Jersey Store
Eastern Mountain Sports (EMS) announced plans to open its newest store in Deptford, NJ. in mid-June. The store is on the lower level next to the entrance to Boscovs at the Deptford Mall.
Von Maur Department Store To Open First North Dakota Store Location
Von Maur Department Store plans to open a 90,000-square-foot store at West Acres Mall in Fargo, ND. Scheduled to open in Spring 2025, this will be the first Von Maur location in North Dakota.
The Buckle Sees Q1 Net Income Fall 22 Percent As Comp Decline 9.2 Percent
The Buckle, Inc. reported that net income for the fiscal quarter ended April 29, 2023 was $42.9 million, or 87 cents per share, or 86 cents per share on a diluted basis. Comparable store net sales decreased 9.2 percent from comparable store net sales for the prior-year period.
Hibbett Reduces Full-Year Guidance On Q1 Miss
Hibbett, Inc. reported weaker-than-expected fiscal first-quarter earnings and narrowed its full-year guidance to reflect a more cautious consumer outlook. Mike Longo, President and Chief Executive Officer, “”Our consumers are facing a number of headwinds that range from inflation to concerns over outright job loss.”
Deckers Brands Gets Another Big Lift From Hoka In Q4 As Ugg Declines
Deckers Brands reported net sales increased 7.5 percent to $791.6 million in the fiscal fourth quarter ended March 31. On a constant-currency basis, net sales increased 10.2 percent. Hoka brand net sales increased 40.3 percent while Ugg brand net sales decreased 2.7 percent.
Duluth Holdings Adds Board Member
Duluth Holdings, Inc., the parent of Duluth Trading, elected Ronald Robinson to its Board of Directors. Robinson works for Designer Brands as its chief supply chain officer.
DXL Posts Q1 Sales Decline After Strong Comp Sales Growth To Start The Year
Destination XL Group, Inc. reported total sales for the first quarter were $125.4 million, down 1.7 percent from $127.7 million in the first quarter of fiscal 2022. Comparable sales for the first quarter of fiscal 2023 increased 0.6 percent as compared to the first quarter of fiscal 2022, with comparable sales from stores up 1.5 […]
Amazon: Independent Sellers In The U.S. Sold More Than 4.1 Billion Products In 2022
More than 60 percent of sales in Amazon’s store are from independent sellers—most of which are small and medium-sized businesses—providing a vast selection of amazing products, competitive prices, and great convenience for consumers.
Christy Sports Opens Location In Aspen
Christy Sports announced the opening a new store in Aspen, CO, located at 303 East Durant Street. The location was previously an Aspen Sports store and recently vacated as part of Vail Resorts’ exit from Aspen.
Ralph Lauren Comp Sales Grow 9 Percent In Fiscal Q4 On Strong Asia Growth
Ralph Lauren Corporation reported revenue increased 1 percent to $1.5 billion on a reported 13-week basis in the fourth quarter of Fiscal 2023, versus a 14-week fiscal period last year. On a 13-week comparable basis, revenue increased 9 percent in constant-currency. Earnings per diluted share was 48 cents on a reported basis.
