SGB Update Footwear

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.

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).

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.

Amer Sports Divests Suunto To Liesheng

Amer Sports has reached an agreement to divest Suunto to Liesheng, a Chinese technology company focusing on the smart & sport wearables electronics segment.

Simms Acquires The River’s Edge

Simms Fishing Products, manufacturer of waders, outerwear, footwear, and technical apparel in fishing, announced it has acquired Bozeman, MT-based specialty retailer, The River’s Edge Fly Shop.

VF Corp. Appoints Global Brand President, The North Face

VF Corp. announced that it has appointed Nicole Otto as global brand president, The North Face. Otto joins VF following a 16-year career at Nike and will succeed Steve Murray who is retiring and returning to the UK. The leadership transition will be effective on June 2022.

Tilly’s Delivers 16.5 Percent Holiday Sales Gain

Tilly’s Inc. reported sales for the nine-week period ended January 1 grew 16.5 percent and said it expects to report its most profitable fourth quarter since becoming a public company. 

Zumiez Sees Holiday Sales Expand 9.0 Percent

Zumiez Inc. announced that the company’s total net sales increased 9.0 percent for the nine-week period ended January 1, 2022 compared to the nine-week period ended January 2, 2021. During the same period comparable sales increased 6.0 percent.