SGB Update Footwear
UPS Returns to Negotiating Table with Union
United Parcel Service said it would return to the bargaining table with a better offer for roughly 340,000 Teamsters-represented U.S. workers before their contract expired on July 31.
SFIA and Running USA Announce Strategic Partnership
The two active lifestyle industry research companies will offer their members reciprocal discounts on reports and collaborate on upcoming new research.
Hotter Shoes Sold to WoolOvers Group in Pre-Packaged Deal
The future of footwear retailer Hotter Shoes is secure, for now, following a sale of the business to the WoolOvers Group.
Canada Ports’ Wage Agreement Rejected, Strike Threat Continues
Canada’s west coast ports’ dockworkers’ union voted against the federal mediator’s “recommended terms of settlement” for the contested collective bargaining agreement, threatening to again shut down British Columbia’s ports.
VF Corp. Names New VP/GM For Vans EMEA Region
VF Corp. promoted Andreas Olsson to VP/GM of Vans EMEA, effective July 17. Olsson had been the VP of sales at Vans for the EMEA region.
Carbitex Founder Returns as President; Outsources Manufacturing to Asia
In a strategic shift in manufacturing operations, Carbitex Founder Junus Khan is stepping back into the role of company president, and the company hired Patrick Sinner to lead brand product development.
Zamberlan USA Hires Director of Operations
Zamberlan USA hired Chris Rischke as director of operations. Most recently, Rischke was VP of operations and wholesale at Erem, the sustainable footwear brand.
Play It Again Sports’ Parent Sees Q2 Profits Improve Sharply
Winmark Corp., the parent of Play It Again Sports, reported earnings improved 14.9 percent in the second quarter ended July 1.
Birkenstock’s Debt Ratings Upgraded on Strong Operating Performance
S&P Global Ratings raised its debt ratings on Birkenstock as the German-based footwear brand’s sales growth of close to 29 percent and S&P Global Ratings-adjusted EBITDA margin of 29 percent in fiscal 2022 outperformed the rating agency’s expectations.
U.S. Trade Activity Rebounds But Global Trend Continues to Weaken
Volume of new orders and invoices exchanged between U.S. buyers and their suppliers grew at 3 points above its expected range in Q2, recovering from a level 6 points below the baseline in the previous two quarters.
Fashion Brand Styched Acquires India Sneaker Startup Flatheads
Styched, an online apparel brand based in India and founded in 2019, acquired Flatheads, a direct-to-customer (DTC) online casual sneaker start-up that gained attention after appearing in season two of Shark Tank India.
South Korean Fashion E-tailer Musinsa Nets $190 Million Funding Round
Musinsa, an online fashion platform in South Korea, raised a $190 million round of Series C funding led by KKR, with participation from Wellington Management.
Retail Sales Up Again in June Despite Slower Job Growth
The U.S. Census Bureau is reporting overall retail sales in June were up 0.2 percent from May and up 1.5 percent year-over-year (YoY). Sporting goods stores were down 1 percent MoM seasonally adjusted and down 0.9 percent unadjusted YoY.
Academy Is Opening Two More Stores In Central Texas In F23
Academy Sports and Outdoors, Inc. reported it will open two new stores in Central Texas this fall in Brenham and Kyle, respectively and is on track to open 13-to-15 stores in 2023, with the goal of opening 120-to-140 new stores by the end of 2027.
Hotter Shoes Parent to Appoint Administrators to Sell Operating Subsidiary
Unbound Group, the parent company of British footwear retailer Hotter Shoes, suspended trading of its shares on the London Stock Exchange and appointed administrators for its primary operating subsidiary, Beaconsfield Footwear, Ltd., after failing to find a buyer or to raise capital to restructure the business.
