SGB Update Footwear
Compass Diversified Announces Sale Of Advanced Circuits
Compass Diversified (CODI) announced it has entered into a definitive agreement to sell its majority-owned subsidiary, Compass AC Holdings, Inc., the parent company of Advanced Circuits, Inc., to Tempo Automation Inc. for $310 million.
Zappos.com To Sponsor 2022 Special Olympics USA Games
Zappos.com announced its sponsorship of the 2022 Special Olympics USA Games scheduled for June 5-12, 2022, in Orlando, FL.
Nike Invests In LeBron James’ SpringHill Company
LeBron James’s SpringHill Company has sold a “significant” minority stake to Nike, RedBird Capital Partners, Fenway Sports Group and Epic Games.
FDRA Report: Footwear Retail Prices Spike The Most in 20 Years
Footwear Distributors and Retailers of America (FDRA) released its monthly Shoe Price Report showing shoe prices are increasing at the fastest rate in over 20 years. Prices may increase further as products come available for the holiday.
Under Armour Appoints Chief Consumer Officer
Under Armour Inc. announced the appointment of Massimo Baratto to executive vice president, chief consumer officer. Since joining Under Armour in 2018, Baratto has served as managing director of the company’s Europe, Middle East and Africa (EMEA) region.
Adidas Launches New Share Buyback Program
Adidas said its board has decided to launch an additional share buyback program following the completion of a share buyback program launched in July. Starting on October 18, 2021, the company plans to buy back shares worth €450 million until the end of the year.
Sportsman’s Warehouse Appoints Interim CFO
Sportsman’s Warehouse Holdings, Inc., which agreed in January to be acquired by Bass Pro, said in a regulatory filing that Jeff White has been appointed vice president of finance, chief accounting officer and interim chief financial officer of the company,
Poshmark Acquires Suede One
Poshmark Inc. acquired Suede One, a platform that combines machine learning, computer vision and human review to virtually authenticate sneakers. Suede One said its employees would join the Poshmark team.
Outdoor Adventure Brands Secures $8.2 Million Credit Facility
Tiger Finance has closed on $8.2 million in growth financing for Outdoor Adventure Brands (OAB), the e-commerce and retail company known for its Austin Canoe & Kayak stores in Texas and Summit Sports locations in Michigan.
ICSC Survey Projects 8.9 Percent Holiday Sales Gain
Shoppers are expected to provide a boost for retailers during the 2021 holiday shopping season, according to ICSC’s Annual Holiday Shopping Intentions Survey. ICSC forecasted an 8.9 percent year-over-year increase in November through December sales with the total expected to reach $923 billion. The annual Holiday Shopping Intentions Survey found that the average consumer this holiday season plans to spend an average of $637 on gifts and other holiday-related merchandise.
Yue Yuen’s Sales In September Slump On Factory Shutdowns
Yue Yuen’s consolidated operating revenue in September fell 23.7 percent to $541.6 million from $710.2 million in the same month a year ago. The decline reflects the pandemic-related factory shutdowns in Vietnam.
Nike Sued By Former Oregon Project Runner, Mary Cain
Former star middle-distance runner Mary Cain has filed a $20 million lawsuit against disgraced coach Alberto Salazar and Nike alleging she suffered years of emotional abuse.
Big Agnes Announces Hires In Product Development And Sourcing
Big Agnes announced new hires within its product development team. Joining the company are Bryan Davis, Leanne Thompson and Monica Welcker, while Tim Leroy joins its sourcing department.
Allbirds Opens New Store In Oakbrook
Allbirds has opened a new retail store and community center in Oakbrook, IL. The location marks the brand’s second store in the Chicago area and 33rd globally, with locations across North America, Asia, and Europe.
Hibbett Opens Location In Grand Prairie
Hibbett announced the opening of its newest location in the mid-cities suburb of Grand Prairie located between Dallas and Fort Worth, TX.
