SGB Update Footwear
361 Degrees Posts 17 Percent Revenues Growth In 2022
Hong Kong-based 361 Degrees International Ltd. reported earnings grew 24.2 percent in the year ended December 31 as sales expanded 17.3 percent.
Shoe Carnival Names New CFO
Shoe Carnival, Inc. hired Erik Gast as executive vice president and chief financial officer, effective April 24. He replaces Kerry Jackson who is retiring after a 35-year career with the family footwear chain.
Signa Sports Fiscal Q1 Sales Up 27 Percent But Margins Suffer From Inventory Woes
Signa Sports United N.V. reported that the operating environment in the first quarter of fiscal 2023 was a continuation of the prior quarter, with depressed consumer sentiment and a promotional overstocked market, in particular in the bike category.
Academy Sports Q4 Earnings Fly Past Wall Street Targets
Academy Sports and Outdoors Inc. reported earnings on an adjusted basis increased 12.5 percent in the fourth quarter ended January 28 as lower freight costs and overall operating expenses offset a 5.1 percent decline in same-store sales. EPS easily topped analysts’ consensus estimates while sales were below.
DSW’s Parent Sees Q4 Comp Decline 5.5 Percent
Designer Brands, Inc., the parent of DSW, reported earnings on an adjusted basis declined 60 percent in the fourth quarter ended January 28 as same-store sales dropped 5.5 percent. Earnings still came ahead of analyst estimates and earnings and sales showed strong improvement overall in 2022.
February Retail Sales Rise 5.4 Percent Year-Over-Year
Overall retail sales dipped slightly in February, but core spending rose, according to data reviewed by the National Retail Federation.
Nike To Stop Using Kangaroo Leather In Soccer Cleats
Nike reported it would stop using kangaroo leather in its shoes amid moves from U.S. state and federal lawmakers to ban the sale of kangaroo products.
Pou Sheng International Appoints CEO
The Pou Sheng International (Holdings) Limited board of directors re-designated Wang Jun, the acting CEO, as CEO effective March 15.
Marriott Appoints Dick’s CEO To Board Seat
Marriott International, Inc. elected Lauren Hobart, president and chief executive officer of Dick’s Sporting Goods and Grant F. Reid, former president and chief executive officer of Mars, as independent directors.
Sporting Goods Retail Industry Icon Jim Chick Passes Away
The National Sporting Goods Association shared that former NSGA board member and board chair, Jim Chick, passed away. Chick was president & CEO of Chick’s Sporting Goods, headquartered in Covina, CA, for nearly 40 years. He was a member of the NSGA board of directors from 1985 to 1994 and was the board chairman in 1992.
Nordstrom Adding Two Rack Stores In Fall 2023
Nordstrom, Inc. reported plans to open two stores in fall 2023—a Nordstrom Rack in Natomas, CA, and a Rack store in San Antonio, TX.
Reebok Partners With Macy’s
Macy’s reported it expanded its partnership with Reebok to include a broader selection of activewear and lifestyle products, including exclusive merchandise, extended sizes and collections available only at Macy’s.
OrthoLite And Novamont Create Circular Foam Material Solution For Use In Footwear
OrthoLite, the manufacturer of sustainable, performance and comfort insoles and footwear materials solutions, and Novamont, responsible for developing, producing, and eco-design of biodegradable and compostable bioplastics and biochemicals, entered into an exclusive partnership to create the OrthoLite Cirql, a circular foam material solution for footwear.
Report: New Brand Resale Index Recognizes REI, Arc’Teryx And On As Top Brands
Trove released its Brand Resale Index: Defining the Resale Experience. The Index evaluates leading practice adoptions across 40 brands in the Outdoor, Footwear, Fashion/Apparel, and Luxury categories.
OR, Surf Expo Parent Swings To 2022 Profit On Triple-Digit Revenue Growth
Emerald Holding Inc. reported significantly improved earnings and sales in the fourth quarter and year ended December 31 as trade shows continued to return to in-person events.
