SGB Update Footwear
LAPD Recovers Up To $7 Million In Stolen Nike Sneakers
The Los Angeles Police Department seized millions of dollars worth of stolen merchandise believed to be Nike sneakers during a raid of a warehouse in Torrance, CA.
Former Nike CFO Joins Papa John’s
The former CFO of Nike North America, Ravi Thanawala, was hired by Papa John’s International, Inc. as chief financial officer, effective July 24, 2023.
Genesco Increases Stock Buyback Plan By $50 Million
Genesco, Inc.’s board of directors authorized a $50 million increase to its existing $200 million share repurchase authorization.
Forman Mills To Be Sold To Shoppers World
Forman Mills, the off-price retailer based in Pennsauken Township, NJ, agreed to be purchased by New York-based discount retailer Shoppers World.
Designer Brands Increases Price Range Of Share Repurchase
Designer Brands, Inc., the parent company of DSW, announced it is amending its previously announced modified “Dutch auction” tender offer to purchase for cash up to $100 million in value of its Class A common shares.
Nike To Open Flagship Store In Edmonton
Nike plans to open a flagship store West Edmonton Mall in Edmonton, which will become Canada’s largest store.
Skechers U.S.A. Named To Fortune 500 List For First Time
Skechers U.S.A., Inc. made the Fortune 500 list for the first time following record annual sales of $7.4 billion in 2022. Skechers is one of only four brands in the apparel industry sector to make the list, debuting at number 488.
Under Armour Confirms Corporate Layoffs In Cost-Control Efforts
Under Armour, Inc. has confirmed reports that it laid off 50 corporate employees as part of its cost-control efforts.
Academy Sports Names New Chief Merchant
Academy Sports + Outdoors Inc. promoted Matt McCabe to executive vice president and chief merchandising officer effective June 25, succeeding Steve Lawrence, who transitioned to CEO. McCabe will report directly to Lawrence.
Hunter Boots Falls Into Administration
Hunter Boots, which sold its intellectual property rights to Authentic Brands Group (Authentic) in early June, has gone into administration, the equivalent of bankruptcy in the U.K.
Under Armour Extends Partnership With University Of Texas Rio Grande Valley
The University of Texas Rio Grande Valley (UTRGV) Department of Intercollegiate Athletics extended its partnership agreement with BSN Sports to keep Under Armour the University’s official athletic footwear, apparel and accessory brand through the 2028/29 academic year.
Running Industry Diversity Coalition Study Finds Continued Under-Representation In Leadership Roles
A series of research studies by the Running Industry Diversity Coalition and Bentley University assessed racial inequities in the running industry and provided recommendations and key questions for progress.
Vivobarefoot Opens First North America Brick & Mortar Store
Vivobarefoot opened a new retail store in Vancouver, BC, Canada. The 800-square-foot location is the brand’s first brick-and-mortar store in North America, selling its range of barefoot shoes displayed on natural materials.
Running USA Elects New Board Members
Running USA elected seven new members to its board for three-year terms beginning on July 1, 2023 and ending on June 30, 2026.
Lacrosse Unlimited Opens Location In Bronxville
Lacrosse Unlimited opened a store in Bronxville, NY, on June 10, marking its 49th location at 24 Palmer Avenue a few doors down from the Bronxville Fitness Club.
