SGB Update Footwear
Rocky Brands Posts Q1 Loss As Wholesale Sales Falter On Retail Inventory Issues
Rocky Brands, Inc. reported that first quarter net sales decreased 33.9 percent to $110.4 million compared with $167.0 million in the first quarter of 2022. Wholesale sales for the first quarter decreased 40.2 percent to $80.1 million. The company reported a first quarter net loss of $0.4 million, or a loss of 5 cents per diluted share.
Weyco Group Sees Sharp Uptick In Q1 Profits
Weyco Group Inc. reported earnings in the first quarter ended March 31 jumped 80 percent. Sales were up 6 percent as double-digit gains at its Florsheim dress brand offset flat year-over-year sales at its other footwear brands, including Bogs.
Big 5 Sees First-Quarter Earnings Decline, Forecasts Weak Q2
Big 5 Sporting Goods Corp. reported a sharp decline in earnings in the first quarter ended April 1 on a 7.1 percent same-store decline with cold weather slowing the start of spring selling. Earnings came in line with guidance due to tight expense controls. Big 5 predicted another steep decline in the second quarter with comps expected to be down in the high single-digit range.
END. Names Chief Buying And Merchandising Officer
END., the Newcastle, London-based luxury, streetwear and sportswear retailer, hired Lea Cranfield, formerly at Yoox Net-A-Porter Group (YNAP), as chief buying and merchandising officer.
B. Riley Securities Adds Three Key Hires Covering Retail And Outdoor/Active Lifestyle
B. Riley Securities, a middle market investment bank and a subsidiary of B. Riley Financial, reported it made strategic hires across Consumer Industries.
Hyperice Names Nike Veteran To Head Marketing
Hyperice hired Andy Miguel, who spent nearly two decades with Nike, as head of marketing, leading its go-to-market global strategy, partnerships, digital marketing, retail activations, brand experiences, public relations, media, brand, and content strategy.
Shoe City Auction To Be Held May 15
Baltimore-based ESCO, Ltd., doing business as Shoe City, received bankruptcy court approval to auction off store leases and Intellectual property with a May 12 deadline to submit qualified bids and an auction to be held May 15.
Bass Pro Shops To Open Store In St. Louis Area
Bass Pro Shops will celebrate the official grand opening of its new Bass Pro Shops Outdoor World in Sunset Hills, MO, with a special Evening for Conservation on May 3.
Anthropologie Group Appoints Three To New Leadership Roles
Anthropologie promoted Anu Narayanan to president of women’s apparel, accessories, weddings, and beauty. Holly Thrasher was named chief merchandising officer of apparel and weddings. Aaron Mutscheller joins Anthropologie Group as president of Anthropologie Home and Terrain.
The Athlete’s Foot Opens New Store Concept In Atlanta
The Athlete’s Foot (TAF) opened a “neighborhood” concept store on April 28 at Atlantic Station in midtown Atlanta, GA. Timed with the opening, the company hosted community events to elevate the “consumer experience while continuing to drive hyper-localized product assortment and community engagement efforts.”
Intersport France Set To Acquire Go Sport Out Of Receivership
The Grenoble Commercial Court in France has ruled that Intersport France will acquire French retailer Go Sport in partnership with Qatari firm Al-Mana. The Court’s unanimous opinion supported an Intersport/Al-Mana bid valued at €35 million.
Investors Sue Adidas Over Yeezy Partnership With Ye
Adidas is facing a class-action lawsuit filed by investors who claim the company knew about the risks of its partnership with Ye, formerly known as Kanye West, years before it terminated its relationship with the rapper over his antisemitic comments.
Nike Signs Lifetime Contract With Kevin Durant
It was reported that Phoenix Suns star forward Kevin Durant signed a lifetime contract with Nike, the third basketball player to sign the same deal behind Michael Jordan and LeBron James.
Skechers Q1 Tops Guidance On DTC Momentum
Skechers U.S.A., Inc. reported earnings rose 32.3 percent in the first quarter ended March 31 on a 10.0 percent sales gain. Strong double-digit DTC growth globally due to improved inventory availability offset wholesale declines in the Americas region. Guidance was raised as quarterly earnings and sales easily surpassed expectations.
Columbia Sportswear Narrows 2023 Profit Outlook As Q1 Profits Contract Over 30 Percent
Columbia Sportswear Company reported that net sales increased 8 percent (10 percent constant-currency) to $820.6 million in the 2023 first quarter as net income decreased 31 percent. Inventories increased 34 percent at quarter-end on elevated carryover inventory, earlier receipt of current season inventory.
