SGB Update Footwear
Luxury Retail’s Momentum Continues Into 2022
Despite record inflation and a plunging stock market, the rebound in luxury spending seen in 2021 has continued into 2022, according to recent reports from Bain and Bank of America (BOA).
A.K.A. Brands Sees 6 Percent Growth In Second Quarter
A.K.A. Brands Holding Corp. said it expects to show a loss in the second quarter ended June 30 as sales increased 6 percent. Current brands in the A.K.A. Brands portfolio include Princess Polly, Culture Kings, mnml, Petal & Pup, and Rebdolls.
Workers For Lululemon DC Store File To Form Union
Lululemon Athletica, Inc. employees working at one of its Washington, D.C. stores has petitioned to unionize, extending a wave of organizing at previously union-free U.S. retail firms.
JD Sports Confirms Guidance
JD Sports Fashion Plc announced ahead of its annual general meeting that same-store sales were up 5 percent for the first five months through June while reiterating that sales for the full year would be in line with the record results it set last year.
Frasers Group Sees Strong Profit Rebound In Fiscal Year
Frasers Group reported profits improved significantly in the fiscal year ended April 24 as sales grew 30.9 percent.
Running USA Survey Finds Demand For In-Person Running Events
With the lifting of pandemic restrictions, runners are eager to participate in live running events, according to Running USA’s 2022 Global Runner Survey.
NGF Report: Golf Equipment Sell-in Still Growing
Despite supply chain constraints, shipments from golf equipment manufacturers in 2022 has remained strong, matching last year’s growth, according to the National Golf Foundation (NGF).
Academy Sports Appoints Board Member
Academy Sports and Outdoors, Inc. appointed Theresa E. Palermo to its Board of Directors and Nominating and Governance Committee. With this change, Academy’s Board now numbers nine directors.
Rebag Adds Apparel And Footwear
Rebag, the luxury resale marketplace founded in 2014 with a focus on handbags, accessories, fine jewelry and watches, is expanding its offerings, beginning to include select apparel and footwear.
Nike Invests $3M In Michigan HBCU
Pensole Lewis College of Business & Design, an HBCU in Michigan owned by footwear designer D’Wayne Edwards, announced that Nike is investing $3 million over three years in the college.
Kohl’s Debt Ratings Outlook Revised To Negative
S&P Global Ratings revised its ratings on Kohl’s to negative on softening consumer spending.
Survey Finds Runners Value Sports Sponsors
A survey conducted by Elevent found that runners are more sponsorship savvy than the general public, including having a more positive perception of sponsors and a willingness to work with them.
Macy’s Accelerates Off-Mall, Small-Format Strategy
As part of its Polaris strategy, Macy’s announced that it would open four off-mall, small-format stores this fall. The locations will include Market by Macy’s, a smaller store with curated offerings, and the first dual Market by Macy’s and Macy’s Backstage off-price location.
Nordstrom Names Two Executive Leaders
Nordstrom, Inc. promoted Deniz Anders to senior vice president and chief marketing officer and Nina Barjesteh, formerly a senior executive at Dick’s Sporting Goods, as president of Nordstrom’s product group.
Flight Club Reopens In Los Angeles
Flight Club Los Angeles has undergone extensive remodeling and reopened two years after COVID and civil unrest closed the location, according to the Los Angeles Times.
