SGB Update Footwear
Under Armour Raises Full-Year Guidance On Strong Q3 Beat
Under Armour, Inc. raised its earnings guidance for the year as its earnings for the fiscal third quarter ended December 31 easily topped Wall Street’s targets as gross margin pressures were offset by cost controls. Sales were slightly above consensus targets. One area of concern was inventory levels, which were up 50 percent.
NRF: February Imports Expected To Be Lowest In Nearly Three Years
According to the Global Port Tracker report released by the National Retail Federation and Hackett Associates, import cargo volume at the nation’s major container ports is expected to drop to nearly its lowest level this month since the beginning of the pandemic.
Titleist Parent Acquires Club Glove
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported it had purchased the Club Glove brand from West Coast Trends, Inc.
OutsidePR Adds Account Manager
Hailing from Vermont, OutsidePR hired Zachary Levy as an account manager.
Signa Sports Posts €566 Net Loss In 2022; Sees Bike Overstocks Into 2024
Signa Sports United N.V. posted 28 percent growth in net revenue to €300 million in the fourth quarter and revenues grew 31 percent to €1.063 billion for the full year on a reported basis.
Canada Goose Targets C$3 Billion In Revenue In Five Years
Canada Goose Holdings, Inc. ahead of its Investor Day, said it aims to nearly triple revenue to Canadian$3 billion (C$2.23 billion) in the next five years as it triples its store base and expands its categories and geographic reach.
BRC Points To Return To Office Trends Driving Retail Foot Traffic In January
The British Retail Consortium (BRC) reported that total U.K. retail foot traffic increased 12.5 percent year-over-year (YoY) in January, 2.6 percentage points worse than December but better than the three-month average increase of 10.3 percent.
Wolverine’s Debt Rating’s Lowered Following Q4 Guidance Update
Moody’s downgraded the debt ratings on Wolverine World Wide, Inc. due to the footwear maker’s updated Q4 2022 guidance, which was lower than previously projected by Moody’s, as well as Moody’s expectation that leverage will remain high over the next 12-18 months.
Belk’s Debt Ratings Downgraded On Weak Results
Belk, Inc.’s debt ratings were downgraded by S&P Global Ratings as the southeast department store operator’s sales and profitability have weakened significantly, well below S&P’s expectations.
REI Agrees To Hold Union Elections At Cleveland Store
REI agreed to hold a union election vote on March 3 at its Beachwood, OH store following a hearing on Friday with the National Labor Relations Board.
Action Sports In Brandford To Close
Action Sports plans to close its store in Brandford, CT, at the end of April. The retailer’s second location in Old Saybrook will remain open.
Dick’s SG To Open House of Sport In Boston
Dick’s Sporting Goods, Inc. plans to open a House of Sport store in the Prudential Center at Boston’s Back Bay. Lord and Taylor previously occupied the storefront at 760 Boylston Street.
Authentic Brands Group Partners With Global Citizen
Authentic Brands Group and Global Citizen, an international advocacy organization, reported that they entered into a four-year agreement to create an exclusive brand mark for consumer products, marketing activations and donations programs.
JCPenney Names New Chief Transformation And Strategy Officer
JCPenney hired Keith Melker as chief transformation and strategy officer driving consumer traffic, inventory management, digital growth, strategic partnerships, and evolving the retailer’s value delivery model. Katie Mullen will remain the chief digital officer.
Kohl’s Appoints Kingsbury CEO
The Kohl’s Corporation’s board of directors has unanimously appointed Tom Kingsbury as Chief Executive Officer, effective immediately.
