SGB Update Footwear
Nike’s Chief Digital Information Officer Departs
Ratnakar Lavu, Nike’s global chief digital information officer, resigned on February 20, according to Business Insider.
Adidas’ Debt Ratings Downgraded On Slashed Outlook
Moody’s downgraded the debt ratings of Adidas following the company’s steep profit warning for 2023, “signaling a significant and unexpected further downward revision of the company’s financials and credit metrics for the next 12-18 months.”
VF Corp’s Debt Ratings Lowered
Moody’s Investors Service downgraded the debt ratings of VF Corp. due to the company’s currently high leverage resulting from underperformance in its largest and most profitable brand, Vans, as well as large customer inventory destocking at Dickies, a slower-than-expected recovery in China, and elevated inventory levels that are leading to higher promotional sales activity and reduced margins.
USA Triathlon Foundation Hires New Chair, Officers
The USA Triathlon Foundation hired Alex Egan as Chair of its Board of Trustees following the Board’s 2022 officer elections. The organization also named three officers.
Blain’s Named One Of America’s Best Employers For Fifth Year
Forbes magazine named Blain’s Farm & Fleet one of “America’s Best Midsize Employers” for the fifth year in a row. In 2023, Blain’s Farm & Fleet ranked as the #1 Wisconsin-based retail and wholesale company.
Fila Holdings Raises Dividend Payout Ratio For Fifth Consecutive Year
Fila Holdings has raised its total annual dividend payout ratio for a fifth consecutive year, as the company approved during a recent board meeting an annual dividend payment of 45.07 billion Korean won, or 750 won per share.
Olympia Sports Intellectual Property Sold At Auction
The intellectual property and related assets of Olympia Sports, including the trademarks for Olympia Sports, Clever Training and Surf Outfitter, were sold for $180,000 to 54 Glen Cove Realty, LLC at an auction run by Hilco Streambank.
Fleet Feet Franchisee Opens Sixth Store In Washington State
Fleet Feet opened a store in Richland, WA, operated by Julie and Wade Pannell, who own five Fleet Feet stores in Washington state, including Bonney Lake, Spokane, Spokane North, Spokane Valley, and Tacoma.
Report: U.S. Footwear Industry Sales Expected To Stabilize Through 2025
Following pandemic-fueled volatility since 2020, U.S. footwear industry sales are expected to stabilize over the next three years, according to The NPD Group.
The RealReal Announces Layoffs, Store Closings
In a regulatory filing, the RealReal, the luxury consignment website, said it plans to lay off seven percent of its workers and close two flagship stores, two neighborhood stores and two consignment offices as part of a cost-savings plan.
UNC Charlotte Re-Ups With Nike And BSN Sports
The University of North Carolina at Charlotte (UNC) extended its partnership with Nike and BSN Sports. BSN Sports remains the official apparel and equipment provider to the 49ers’ athletic program while outfitting the University’s athletes, coaches and staff in Nike product.
SportChek Sees Slight Q4 Sales Decline, Helly Hansen Climbs Double-Digits
Canadian Tire Corporation, Ltd. reported same-store sales at its SportChek segment were down 1.7 percent in the fourth quarter while revenues of Helly Hansen grew 20.6 percent.
Crocs Q4 Revenues Surge 61 Percent; Beats Analyst Targets
Crocs, Inc. reported earnings rose 23 percent in the fourth quarter ended December 31. Sales surged 61 percent with a boost from the acquisition of Heydude. Sales of the Crocs brand grew 14.9 percent. Earnings topped analyst estimates.
January U.S. Retail Sales Rebound; Sporting Goods Up 6.9 Percent
U.S. retail sales jumped a seasonally adjusted 3 percent in January from December, the largest monthly increase in nearly two years after declines in the final two months of last year, the Commerce Department said Wednesday.
Fleet Feet Store Opens In Harrisburg
Fleet Feet opened its second location in central Pennsylvania this past week in Harrisburg, PA.
