SGB Update Footwear
Railroad Strike Averted After Tentative Deal Reached
Railroads and workers’ unions reached a tentative labor agreement early Thursday, averting a national rail strike that threatened to shut a major segment of the U.S. transportation network.
Report: Steph Curry Nearing $1B Lifetime Contract With Under Armour
Steph Curry is poised to sign a lifetime contract with Under Armour worth “potentially more than $1 billion,” according to a report from Rolling Stone.
Patagonia’s Next Chapter
Patagonia announced new ownership today, nearly 50 years since Yvon Chouinard founded the business. Effective immediately, the Chouinard family has transferred ownership to two new entities—Patagonia Purpose Trust and the Holdfast Collective, with every dollar that is “not reinvested back into Patagonia be distributed as dividends to protect the planet.”
Emerald Receives Final Proceeds From Insurance Litigation Settlement
Emerald Holding, Inc. announced that it had received $149.25 million from its insurance litigation settlement for canceled events under its 2020 and 2021 event cancellation insurance policies.
Deloitte: Holiday Retail Sales Expected To Increase 4 Percent To 6 Percent
Holiday retail sales are likely to increase between 4 percent and 6 percent in 2022, according to Deloitte’s annual holiday retail forecast. In 2021, holiday sales grew by 15.1 percent in the same period.
Phoenix Footwear Group Delivers 3 Percent Revenue Gain In Q2
Phoenix Footwear Group Inc., the parent of the Trotters, SoftWalk and Bueno footwear brands, reported sales of $4.4 million in the second quarter ended July 2, up 3 percent from $4.3 million in the second quarter of 2021.
Yue Yuen’s Sales Surge 61 Percent In August
Yue Yuen Industrial (Holdings) Limited reported sales in the month of August rose 61.0 percent to $774.7 million from $481.2 million a year ago.
How OrthoLite’s Vertical Integration Structure Is Paying Off For Footwear Brands
Sponsored Content—”OrthoLite is coming off of two back-to-back, record-setting years. Thanks to a vertically-integrated organizational structure, which the company initiated in 2007, OrthoLite has reliably provided over 400 brand partners with uninterrupted, on-time deliveries.”
Olympia Sports Files For Bankruptcy Protection To Liquidate Remaining Stores
Maine-based Olympia Sports Acquisitions, LLC filed for Chapter 11 protection with plans to liquidate its remaining 35 stores, citing poor sales, online competition and residual problems from the COVID-19 pandemic.
Hudson’s Bay Appoints President
Hudson’s Bay announced that Wayne Drummond is retiring from the company, and it hired Sophia Hwang-Judiesch as president, effective September 19, 2022.
Lands’ End’s Q2 Sales Decline 9 Percent
Lands’ End, Inc. reported a net loss in the second quarter ending July 29 as sales slid 8.6 percent. Results exceeded guidance but the outlook for the year was lowered.
USA Skateboarding Appoints CEO And President
USA Skateboarding appointed Johnny Schillereff as chief executive officer and president.
Bangor’s Epic Sports To Close
According to the Bangor Daily News, Epic Sports, based in Bangor, ME, plans to close the store this fall after 25 years in business.
On Launches Online Trade-In Program
On, the Swiss running brand, announced the launch of a new resale site and online trade-in program
Belk Names Chief Executive Officer
Belk announced that Don Hendricks has been named chief executive officer of the department store chain. Hendricks has served as interim CEO since May 2022 and previously served as president and chief operating officer.
