SGB Update Footwear
Report: StockX Exploring IPO
StockX has retained Morgan Stanley and Goldman Sachs Group, Inc. to explore a planned U.S. initial public offering as soon as the first half of 2022, sources told Bloomberg.
Big 5 Sees Q4 EPS Well Above Guidance
Big 5 Sporting Goods Corporation pre-announced fourth-quarter results for the period ended January 2 that showed earnings came in above company guidance due to margins coming in significantly ahead of plan. Steven Miller, the company’s CEO, said in a statement, “While issues surrounding the pandemic are ongoing, we believe the business is in a great position heading into 2022.”
Arc’teryx Closes 2021 With 21 Global Retail Openings
Arc’teryx announced it opened 21 stores internationally in 2021. The company also celebrated its first ReBird Repair and Service Center in New York with plans to establish more centers as the brand expands its ReBird circularity initiatives in 2022.
Under Armour To Close Store In Downtown Detroit
Under Armour Inc. reportedly plans to close its store in downtown Detroit, according to Crain’s Detroit Business.
Soccer Shots Secures Investment
Soccer Shots, the youth soccer franchisor, has secured an investment from Susquehanna Private Capital. Terms of the transaction were not disclosed.
Columbia Sportswear Appoints VP, U.S. Sales, Columbia Brand
Columbia Sportswear Company announced it has named Jim Beeman as vice president, U.S. sales for the Columbia brand. He was at Nike for 22 years.
Evo Acquires Rhythm Japan
Evo, the Seattle-based outdoor retailer, has acquired Rhythm Japan, a Hokkaido, Japan-based snow gear rental company, along with its winter apparel brand, Oyuki.
JD Sports Raises Outlook On Merry Holiday Results
JD Sports Fashion, which owns Finish Line, DTLR Villa and Shoe Palace in the U.S., on Wednesday raised its annual profit forecast for the second time in four months. Total revenues for the twenty-two week period ended January in the Group’s same-store businesses were more than 10 percent ahead of the same period in 2020 with an equally positive performance across the Black Friday and Christmas period.
Adidas Sets Major Expansion For Downtown Los Angeles
Adidas has leased 107,000 square feet of office space in downtown Los Angeles marking a major expansion of its Los Angeles operation for marketing and sales and design according to a report in the Wall Street Journal.
Tecovas Secures $56 Million In Series C Funding
Tecovas, an Austin, TX-based Western footwear, apparel and accessories brand, announced that it has secured $56 million in Series C funding, bringing the brand’s total lifetime equity funding to approximately $120 million.
REI To Open Distribution Center In Tennessee With Sustainability In Mind
REI announced that it is building a distribution center in Lebanon, TN to support its growth on the East Coast and in the Midwest and South.
Adobe: Holiday Online Sales Grew 9 Percent
Adobe released the Adobe Digital Economy Index, its final online shopping figures for the holiday season (November 1 to December 31). Consumers spent a total of $204.5 billion over the 2021 holiday season, up 8.6 percent year-over-year (YoY).
Tecnica Group Hires Social & Environmental Impact Guide
Tecnica Group North America hired Matthew Miller to the newly created position of social & environmental impact guide.
Urban Outfitters Holiday Comps Rise 14.6 Percent
Urban Outfitters, Inc. announced net sales over November and December rose 14.6 percent, although it indicated that higher freight costs and promotions at the Free People brand will impact margins.
Yue Yuen Revenues Up One Percent For 2021
Yue Yuen reported sales slipped 2.1 percent in December and ended up 1.0 percent for the year.
