SGB Update Footwear

JD Sports Appoints New CEO

JD Sports appointed Régis Schultz as its new CEO. Schultz was president of retail for Dubai-based Al-Futtaim Group since 2019.

Under Armour Lowers FY Earnings Guidance On Margin Contraction

Under Armour, Inc. reported first-quarter results that matched profit expectations and slightly topped on revenue. The company maintained its full-year revenue outlook but reduced its earnings outlook amid continued gross margin pressures. On an adjusted basis, EPS is expected in the range of 47-to-53 cents a share compared to the previous expectation of 63-to-68 cents.

Weyco Group Sees 29 Percent Q2 Growth

Weyco Group Inc.’s earnings improved in the second quarter ended June 30 as sales were up 29 percent. Bogs increased 35 percent to represent record second-quarter sales.

Rocky Brands Q2 Sales Expand 23 Percent

Rocky Brands, Inc. reported earnings were down in the second quarter ended June 30 due to lower gross margins tied to supply-chain challenges. Sales grew 23 percent.

Big 5’S Q2 Sales Drop Against Challenging Comparisons

Big 5 Sporting Goods Corp. reported same-store sales fell 22.3 percent in the second quarter ended July 3 against tough comparisons in the year-ago quarter. Sales were below company guidance but both earnings and sales surpassed any pre-pandemic second quarter.

APL To Open Store In New York City

APL, the Los Angles-based sneaker upstart also known as Athletic Propulsion Labs, is opening its first store in New York City, in Soho, according to TheRealDeal.

Li Ning Hires Group VP And CFO

Li Ning Company, Ltd. has hired of Zhao Dong Sheng as group vice president and chief financial officer.

JD Sports Sells Footasylum To Germany’s Aurelius

JD Sports sold Footasylum to German private equity firm Aurelius Group for an enterprise value of about £37.5 million ($38 million), less than the £86 million pounds ($102.9 million) price it paid for the chain in 2019.

Nordstrom Announces Senior Merchandising Promotion

Nordstrom, Inc. promoted Sam Lobban to executive vice president and general merchandise manager for women’s and men’s apparel and all designer categories supporting product strategy and vision.

Inflation Expected To Impact Back-To-School Spending

Numerator’s 2022 Back-To-School Survey of nearly 2,400 households found that 89 percent of respondents expect inflation to impact their back-to-school spending and increase cost-saving measures, including buying items on sale, reusing old supplie, and switching to cheaper brands.

Under Armour To Pay $67 Million To Settle UCLA Lawsuit

Under Armour has agreed to pay UCLA nearly $67.5 million to settle the school’s lawsuit with the company, according to a report in the Los Angeles Times. UCLA was seeking over $200 million in damages in its original lawsuit filed in August 2020 over Under Armour’s terminated UCLA contract.