SGB Update Footwear

Neiman Marcus Rejects Saks Takeover Bid

According to the Wall Street Journal, Neiman Marcus rejected Saks Fifth Avenue’s offer of $3 billion to acquire the retailer; however, the two chains are continuing to negotiate, focused on the terms of the deal. 

Bandier Seeks Sale Amid Credit Pressures

Bandier, the women’s activewear brand, is looking for a buyer to acquire its assets, including inventory and intellectual property. DSI Assignments is conducting the expedited sale process.

Reebok Inks Licensing Partner For Sports Equipment

Authentic Brands Group has entered into a long-term licensing agreement with Sakar International to design and distribute Reebok-branded basketball, pickleball, baseball, soccer, and football equipment and electronics, including audio, tech and massage products.

Hanesbrands Gets Debt Ratings Downgrade

Moody’s Investors Service downgraded Hanesbrands, Inc.’s debt ratings to reflect the company’s significant earnings declines through 2023 and Moody’s expectation that leverage and coverage credit metrics will remain weak through the first half of 2024.

5.11 Tactical to Transition Senior Leadership

Francisco J. Morales, co-founder and former CEO will be promoted to executive chair of the Board of Directors, while 5.11 Board member Troy R. Brown will become CEO, effective January 1, 2024.

Tilly’s Posts Q3 Loss Amid Markdowns and Sales Declines

Tilly’s, Inc. reported a loss against a profit in the third quarter on higher promotions and a 9 percent decline in sales. Sales were at the lower end of the retailer’s guidance although the loss was lower than expected. The action-sports chain expects Q4 comps to decline between 9 percent and 6 percent.

Zumiez Posts Q3 Loss But Tops Guidance; Sales Slide 9 Percent

Zumiez, Inc. reported a loss in the third quarter ended October 28 on an 8.9 percent decline in sales but results topped the retailer’s guidance and sequential improvement was seen compared to the first two quarters of the year. Sales are down 4.6 percent so far in the current quarter. 

Report: U.S. Retail Footwear Sales Dip for Thanksgiving Week

Footwear units sold reportedly declined 4 percent in the week ending November 25, but dollar sales declined at a softer rate of 1 percent due to a 4 percent increase in average selling prices (ASPs)., according to Circana’s point-of-sale data.

Merrell Hires Chief Marketing Officer

Pallav Tamaskar, an ESPN veteran, joins company with a “strong consumer packaged goods and media background.” Most recently, he was the EVP and managing director of Myprotein (THG) North America.

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