SGB Update Footwear
Steve Madden Posts Sharp Drop In Q4 Wholesale Revenues
Steve Madden’s fourth quarter 2022 revenue decreased 18.6 percent to $470.6 million in the period ended December 31, compared to $578.5 million in the prior-year comparable period. Revenue for the wholesale business was $308.8 million, a 24.8 percent decrease.
Adidas Opens First Retail Store In The Bronx
Adidas opened its first retail store in the Bronx today at The Mall at Bay Plaza.
Academy’s Debt Ratings Raised By Moody’s
Moody’s Investors Service upgraded Academy, Ltd.’s debt ratings to reflect Academy’s continued outperformance relative to expectations and the overall retail industry.
Adidas Renews Partnership With Major League Soccer
Adidas renewed a multi-year extension of its partnership with Major League Soccer.
Dick’s SG To Acquire Moosejaw From Walmart
Dick’s Sporting Goods agreed to acquire outdoor retailer Moosejaw from Walmart.
TJX Sees Holiday Sales Beat Plan
The TJX Companies Inc. reported earnings rose 14 percent in the fourth quarter ended January 28 on a 4 percent same-store gain. Sales came in ahead of guidance while earnings were at the upper end of plan.
Wolverine Worldwide Forecasts Low-Single-Digit Growth For 2023
Wolverine Worldwide’s fourth-quarter sales grew 8.4 percent as strong double-digit growth at Merrell and Saucony offset a steep decline at Sperry. Overall results were in line with recently-updated guidance. Guidance for the current year calls for margin pressures to continue in the first half of the year to further reduce inventories and low-single-digit growth on a currency-neutral basis for the overall year.
Foot Locker Names Interim CFO
Foot Locker, in a regulatory filing, stated that Robert Higginbotham had been appointed interim chief financial officer, effective March 1, in addition to his current role as senior vice president, investor relations, and financial planning & analysis.
Sympatex Names Chief Sales And Marketing Officer
Sympatex Technologies, a manufacturer of membranes, laminates and textiles used in outdoor apparel and footwear, promoted Kim Scholze to chief sales and marketing officer and its board.
Nike Asks City Of Portland For Police Security To Reopen Community Store
Nike’s Community Store in Northeast Portland has been closed for weeks because of thefts. The company has offered to contract with, and pay off-duty uniformed Portland Police Bureau officers, in order to reopen the store.
Adidas’ Debt Ratings Downgraded By S&P
S&P Global Ratings followed Moody’s in downgrading the debt ratings of Adidas due to the company’s downward revision of guidance largely tied to the end of its partnership with Kanye West.
USPTA And Tennis Warehouse Expand Official Supplier Deal
The United States Professional Tennis Association inked an expanded multi-year endorsement with the Tennis Warehouse as the Official Equipment Supplier of the USPTA.
REI Updates Product Standards For Vendors
REI Co-op released its updated Product Impact Standards report to advance more sustainable and inclusive business practices. The latest version builds on three key areas: fighting climate change, advancing inclusion in the outdoors and managing chemicals.
Tractor Supply Improves Ranking On Forbes Best Employers List
Tractor Supply Company has been named to the Forbes list of America’s Best Large Employers. The company’s ranking improved to the 177 spot in the 2023 report from the 329 spot in 2022.
Walmart U.S. Posts 8.3 Percent Q4 Comp Store Sales Growth
Walmart U.S. comp sales grew 8.3 percent for Q4 and 13.9 percent on a two-year stack. E-commerce growth was 17 percent and 18 percent on a two-year stack.
