SGB Update Footwear
Skechers Posts Double-Digit Q4 Sales Growth
Skechers U.S.A. Inc. reported a modest gain in earnings in the fourth quarter ended December 31 on an adjusted basis as sales grew 13.5 percent. Both earnings and sales exceeded Wall Street’s estimates and Skechers predicted growth in the range of 4 percent to 8 percent for the current year.
Crate & Barrel Taps 20-Year Nike Vet For COO Role
Crate & Barrel Holdings, Inc. hired Mike Brewer as chief operating officer. He brings a broad range of experience, including 20 years working at Nike, Inc.
NRF Economist Sees 2023 Recession As Unlikely Prospect
The National Retail Federation Chief Economist, Jack Kleinhenz, believes a recession is unlikely in 2023, and the economy should see slight growth for the year as consumers continue to manage through inflation and high interest rates.
The Buckle Posts 6.1 Percent Comp Store Sales Gain In January
The Buckle, Inc. comparable store net sales increased 6.1 percent for the 4-week fiscal month ended January 28 versus the comp month in the prior year.
Black Diamond Equipment Appoints New Brand President
Black Diamond, Equipment, Ltd., a subsidiary of Clarus Corp., appointed Neil Fiske as brand president. Fiske is responsible for “accelerating growth and increasing profitability by capitalizing on attractive expansion opportunities across various categories, channels and regions.”
Canada Goose Cuts Outlook On Weaker China, North America
Canada Goose Holdings Inc. reported earnings and sales came in below guidance in the fiscal third quarter ended January 1 and lowered its outlook for the year due to worse-than-expected COVID-19 related disruptions in Mainland China and slowing momentum in North America.
Costco January Comps Fall 15.4 Percent
Costco Wholesale Corporation reported net sales of $16.84 billion for the retail month of January, the four weeks ended January 29, 2023, an increase of 6.9 percent from $15.76 billion last year.
Nordstrom’s Debt Ratings Outlook Reduced
S&P Global Rating lowered its outlook on the debt ratings of Nordstrom due to the retailer’s weaker-than-expected performance.
Ugg Parent Sues Walmart For Patent Infringement
Deckers Brands, the parent of Ugg, Hoka and Teva brands, filed a lawsuit in California Central District Court against Walmart, charging the retailer infringed on copyrighted product designs.
Vimazi Adds Sales Reps In Pacific Northwest And East Coast
Vimazi the maker of pace-tuned running shoes hired REPresents.fun and NJ Athletic Co. to its sales team.
NRF Supports Recently Enacted Organized Retail Crime Legislation Bills
The National Retail Federation’s SVP of Government Relations, David French, issued a supporting statement after the Combating Organized Retail Crime Act of 2023 and the Organized Retail Crime Center Authorization Act were introduced in the U.S. Senate.
StockX Opens Authentication Center In Mexico
StockX opened an authentication center in Mexico City, the company’s 14th in its global network.
Under Armour Adds Two To Board As Saunders Departs
Under Armour, Inc. appointed Carolyn Everson and Patrick Whitesell to its board of directors effective February 1, 2023. Longtime UA board member Harvey Sanders will retire on March 31, 2023.
Nike Files Footwear Infringement Lawsuit Against Lululemon
Nike Inc. sued Lululemon Athletica Inc. on Monday in U.S. federal court in Manhattan, charging that at least four of Lululemon footwear products infringe its patents.
Nike To Open Store In Tigard
Nike plans to open a store in Tigard, OR, a suburb of Portland, at the Bridgeport Village lifestyle center.
