SGB Update Footwear
Report: Kohl’s Gets Bid For Real Estate
Private equity firm Oak Street Real Estate Capital, LLC has reportedly offered to acquire as much as $2 billion in property from Kohl’s Corp.
Pou Sheng Appoints New Chairman
Pou Sheng International, Ltd. said Lee Shao-Wu has resigned from the company, including as chairman and executive director. Yu Huan-Chang, its current CFO, replaced him.
Sportsman’s Warehouse’s Q2 Comps Drop 9.4 Percent
Sportsman’s Warehouse Holdings Inc. reported earnings declined 22.5 percent on an adjusted basis in the second quarter as sales retreated 9.4 percent. Results exceeded the high end of guidance.
Tilly’s Blames Inflation On Q2 Miss
Tilly’s, Inc. reported earnings and sales missed company guidance in the second quarter. Sales were down 17 percent against record year-ago revenues.
Lululemon Hikes Outlook As Q2 Comps Jump 23 Percent
Lululemon Athletica, Inc. raised its outlook as sales and earnings in the second quarter easily topped the company’s guidance. Lululemon’s earnings on an adjusted basis grew 33 percent as a comp gain of 23 percent offset gross margin pressures.
New Balance Appoints Global Director Of International Marketing
New Balance hired Romina Bongiovanni as global director of international marketing. She replaces Tim Malone, who joined Crocs as VP of global integrated marketing in May.
The Buckle’s Comps Increase 4.6 Percent
The Buckle Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended August 27, 2022 increased 4.6 percent.
Genesco Reduces Outlook Despite Q2 EPS Exceeding Expectations
Genesco, Inc. reported second-quarter earnings that came in well above analyst expectations but reduced its guidance for the year as sales at Journeys slowed toward the end of the quarter and into August, as well as due to inflationary concerns.
Frye And Tretorn Secure Sportswear License Partners
NYC Alliance announced a partnership with Authentic Brands Group (ABG) to design, produce and distribute men’s and women’s sportswear for Frye and Tretorn.
Orangetheory Appoints President Of International
Orangetheory Fitness hired Jason Dunlop as president of international, overseeing the brand’s international studio portfolio and ongoing expansion efforts. Dunlop’s resume includes employment with CrossFit, Canada Goose, Starbucks, and Nike.
3Step Sports Acquires FaR Out Volleyball Club
3Step Sports acquired the FaR Out Volleyball Club, adding another nationally-recognized club to its volleyball division.
Adidas To Open Flagship In Warsaw
Adidas has chosen Warsaw for its first flagship ‘Brand Center’ store in Central and Eastern Europe (CEE), the Puls Biznesu Business Daily reported.
VF Corp. Undergoes Layoffs
VF Corp. announced Tuesday in an internal e-mail that it has eliminated about 600 office-based positions at the company, including 300 current workers and 300 open positions, according to the Denver Business Journal.
Designer Brands Lifts Outlook On Q2 Beat
Designer Brands, Inc. raised its EPS guidance for the year after reporting sales and earnings topped Wall Street’s targets in the second quarter ended July 30. Comparable sales for the parent of DSW increased 6.2 percent on top of comparable sales growth of 84.9 percent for the second quarter of 2021.
REI Co-Op Appoints Board Members
REI appointed Dr. Michael McAfee and Jim Murren to its board of directors.
