SGB Update Footwear
Under Armour, Puma, Helly Hansen And Canada Goose Suspend Operations In Russia
Under Armour, Canada Goose, Helly Hansen and Puma have followed Nike in suspending operations in Russia in response to Russia’s invasion of Ukraine.
Berkshire Hathaway’s Apparel And Footwear Sales Expand 25.3 Percent In 2021
Berkshire Hathaway Corp. sales across its apparel and footwear businesses increased 25.3 percent in 2021 compared to 2020, according to the holding company’s annual report. The businesses include Fruit of the Loom, Garan, H.H. Brown Shoe Group, and Brooks Sports.
Hibbett’s Q4 Comps Dip 1 Percent
Hibbett Inc. reported fourth-quarter earnings declined 23.9 percent as same-store sales dipped 1.0 percent. Results and guidance were in line with an update given on February 18.
REI SoHo Employees Vote To Unionize
REI employees in its SoHo, New York City retail store, voted to form the co-op’s first union. Eighty-eight of the store’s 102 workers voted to join the Retail, Wholesale and Department Store Union (RWDSU), and fourteen voted not to join. An in-person tally conducted the vote in the store’s breakroom by the National Labor Relations Board.
Academy Sports Announces Inaugural Quarterly Cash Dividend
Academy Sports and Outdoors Inc. announced that its Board of Directors approved the initiation of a quarterly cash dividend.
Reebok Appoints VP Europe
Reebok promoted Laurent Fricker to vice president for Europe, according to Fashion Network.
Nike To Temporarily Close Stores In Russia
Nike, Inc. said it would temporarily close all its owned stores in Russia. The brand joins a number of other Western brands that have suspended their businesses in the country following Moscow’s invasion of Ukraine.
Adidas Appoints Chief Creative Officer
Adidas announced the appointment of Alasdhair Willis to chief creative officer responsible for the global creative direction for its brands and its three labels—Performance, Originals and Sportswear.
Snipes Acquires Expressions
Snipes continues its expansion in the U.S. by acquiring New England-based sneaker retailer Expressions. The acquisition comes on the heels of its recent acquisition of Jimmy Jazz.
Anta To Open Fila-Branded Hotel In Shanghai
Anta announced a partnership with Hyatt Hotels to open a lifestyle hotel concept, Fila House Shanghai, in 2024.
Under Armour Must Submit Documents Related To SEC, DOJ Investigations To UCLA
Under Armour, Inc. must submit documents related to the federal government’s investigation into its accounting practices which led to a $9 million fine last year, a Los Angeles judge overseeing the litigation over its canceled UCLA contract has ruled, according to the Baltimore Business Journal.
The Buckle’s Comps Jump In February
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended February 26, 2022, increased 33.3 percent from comparable store net sales for the 4-week period ended February 27, 2021.
Nike Suspends Online Sales In Russia
Nike Inc. has stopped taking online orders on its Russian website because it can’t guarantee delivery, Nike said on its Russian website.
NPD Study: U.S. Footwear Industry Growth Rate Slow But Steady Through 2024
Slow but steady will be a predominant theme for the U.S. footwear industry over the next two years, mainly due to pent-up demand and higher average selling prices. Footwear revenues hit a high point in 2021, growing by 23 percent, versus 2020, as unit sales also increased by double-digits; however, both revenue and unit sales are projected to level out through 2024, according to The NPD Group.
Kathmandu Holdings To Undergo Name Change
Kathmandu Holdings Limited announced that it will undertake a name change to KMD Brands Limited.
