SGB Update Footwear
VF Corp. Reaffirms Outlook Despite Slight Quarterly Miss
VF Corp. reported revenue climbed 23 percent in its second quarter ended October 2, led by a 31 percent gain at The North Face. Vans sales grew 8 percent and Dickies grew 21 percent. Companywide earnings and sales were slightly below Wall Street’s targets but VF reaffirmed its full-year earnings outlook.
Adobe Forecasts Record Online Sales, Continued Supply Chain Issues
Adobe expects U.S. holiday sales online to hit $207 billion from November 1 to December 31, setting a record high. This represents a 10 percent increase from 2020, a strong growth rate after a year where the pandemic made e-commerce an essential service. On the negative side, a weakened supply chain is leading to a hike in out-of-stocks and driving up online prices.
Genesco Names Chief Financial Officer
Genesco Inc. announced that Thomas A. George has been named senior vice president, finance, and chief financial officer. elevating his role from the interim position he has held since December 2020.
361 Degrees Sees Double-Digit Growth In Third Quarter
The Chinese apparel and sneaker company 361 Degrees reported retail sales of its core branded products for the third quarter of 2021 recorded low-teens growth compared to the same period of 2020.
Topgolf Starts Construction Of New Venue Serving Durham And Raleigh
Topgolf Entertainment Group announced it has officially started the development of a new venue serving the Durham and Raleigh areas in North Carolina.
Allbirds Opens Store In Denver
Allbirds opened a retail store and community center in Cherry Creek. It is the brand’s first store in Denver and 34th globally, with locations across North America, Asia and Europe.
Tilly’s Appoints Board Members
Tilly’s, Inc. announced the appointment of Teresa L. Aragones and Erin M. Chin to its Board of Directors.
Crocs’ Q3 Blows Past Analyst Estimates On 73 Percent Revenue Gain
Crocs, Inc. reported sales surged 73.0 percent in the third quarter, led by a 94.5 percent gain in the Americas region. Earnings more than doubled. Crocs said it now expects sales growth in the range of 62 percent and 65 percent in 2021 and exceed 20 percent in 2022.
Filson’s Parent Appoints CFO
Filson’s parent company, Bedrock Manufacturing Co, has appointed Michele Santana as its chief financial officer.
FDRA Calls On President Biden To Remove Tariffs On Kids’ Shoes As Inflation Spikes
The Footwear Distributors and Retailers of America (FDRA), on behalf of American families, sent a letter to President Biden asking him to eliminate 301 Tariffs on kids’ shoes.
New Balance Establishes Athlete Advisory Board
New Balance announced the establishment of the New Balance Athlete Advisory Board, a specialized collective of professional athletes, company executives and brand associates “that will enable strategic decisions powered by shared values, culture, and community.” The new structure reflects a shift in its athlete endorsement deals toward a partnership model relationship over a sponsorship.
REI Co-op To Open Store In Athens
REI Co-op announced plans to open a retail store in fall 2022 in Athens, representing its sixth store in Georgia.
The NPD Group To Be Acquired By Hellman & Friedman
The NPD Group announced that Hellman & Friedman, the private equity firm, has made a binding offer and entered into an exclusive agreement to acquire the company.
Moosejaw Opens Store In Bentonville
Walmart-owned Moosejaw is opening a retail store in Arkansas on October 21. The store is located in Bentonville, near to where Sam Walton opened his 5 & 10 in 1950.
Fleet Feet Adds Florida Locations With Acquisition Of FITniche
Fleet Feet announced that it has successfully acquired specialty running retailer FITniche and its three locations in the Tampa, FL area.
