SGB Update Footwear
Imports Winding Down As Holiday Season Nears Finish Line
With most holiday merchandise on retailers’ shelves or in warehouses for the season, December cargo volume at the nation’s major container ports is forecasted to be below record levels set earlier this year, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Elevate Outdoor Collective Hires Global CMO
Elevate Outdoor Collective hired Jon Roy as chief marketing officer. Previously, Roy was the vice president of Global Energy Brand Marketing at Converse.
Dick’s SG’s Jefferson City Location To Close
DKS is closing its Jefferson City, MO store, effective December 31, 2022, according to the Jefferson City News Tribune.
Nike And BSN Sports Sign Three-Year Deal With App State University
Nike and BSN Sports signed a three-year deal with Appalachian State University in Boone, NC.
Fenix Outdoor Names Global Brand President, Royal Robbins
Fenix Outdoor named Erik Burbank, a former Keen and Helly Hansen executive, as global brand president, Royal Robbins, succeeding Michael Millenacker.
Kohl’s Debt Ratings Lowered
Moody’s Investors Service downgraded the debt ratings on Kohl’s due to an erosion of its market position and the deterioration in credit metrics to levels not reflective of an investment grade rating.
Yue Yuen’s Sales Dip 2.8 Percent In November
Yue Yuen reported consolidated operating revenue in November reached $657.5 million, representing a decline of 2.8 percent year over year. Sales grew 6.1 percent at Yue Yuen’s Manufacturing Business segment and fell 17.8 percent at Pou Sheng, Yue Yuen’s retail subsidiary in China.
Rocky Brands Appoints Board Member
Rocky Brands, Inc. appointed Dwight Smith as a Class I director on the company’s Board, effective January 1, 2023. Glenn E. Corlett and James L. Stewart have elected to retire as Board of Directors, effective December 31, 2022.
Allbirds Announces Promotions Within Executive Leadership Team
Allbirds, Inc. promoted Kate Ridley from chief brand officer to chief brand and product officer, and Benny Joseph, currently chief technology officer, to chief technology and culture officer. Co-CEO Tim Brown expands his role to include leadership of Allbirds’s Innovation Futures team.
Puma Names Chief Product Officer
Puma promoted Maria Valdes to chief product officer and to its Board of Management, effective January 1, 2023. Valdes’ current role is general manager, Puma Sportstyle.
Lululemon Lifts Outlook As Q3 Comps Surge 22 Percent
Lululemon Athletica Inc. again raised its outlook for sales and earnings in the year after reporting third-quarter results that topped guidance. Comparable sales in the quarter jumped 22 percent, or increased 25 percent on a constant dollar basis.
Wolverine To Divest Keds Brand And Leathers Business, Eliminates Jobs
Wolverine World Wide, Inc. reported it started a formal process to divest or license the Keds brand and the Wolverine Leathers business. Timed with the reorganization, WWW announced earlier this week that it was reducing its workforce to support the restructuring.
Sportsman’s Warehouse’s Q3 Sales Drop 10 Percent
Profits at Sportsman’s Warehouse Holdings Inc. fell 42.3 percent in the third quarter ended October 29 as sales declined 10.3 percent.
Anta Exploring Amer Sports IPO
Anta Sports Products, Ltd., the Chinese sports equipment corporation headquartered in Jinjiang, is reportedly holding preliminary talks with investment banks for an IPO of Amer Sports that could raise about U.S.$1 billion or more, according to Bloomberg.
TopGolf Callaway’s Debt Rating Outlook Upgraded
Moody’s Investors Service affirmed Topgolf Callaway Brands Corp.’s debt ratings and changed its outlook on the company to stable from negative due to improving results.
