SGB Update Footwear
Nike Loses EU Trademark Dispute Against Puma
Nike had sought to trademark “footware” a play on words between “foot” and “software” or “hardware” for tech-related products. Puma has long argued that at least some consumers would misread “footware” to mean software or technology for the feet.
Nike Vet Hired As President of Cosmo Fabrics
Mark Griffie spent over 20 years working at Nike, most recently as VP of materials and sourcing. He will work from Cosmo’s Singapore headquarters, effective July 1.
Game-Set-Match to Open Fifth Store
Plans for the new store in Henderson, NV, include a soft opening in Fall 2024, pending store construction timing, with a grand opening in Spring 2025.
Target Raises Quarterly Dividend
The retailer reaffirmed announced a 1.8 percent increase in its quarterly dividend to shareholders, now set at $1.12 per common share, from the previous quarterly dividend of $1.10.
Yue Yuen’s May Sales Boosted by Manufacturing Growth
Yue Yuen Industrial, Ltd. reported revenues rose 2.3 percent in May to $717.4 million. Sales rose 2.3 percent in its manufacturing segment but declined 8.0 percent in its retail segment.
Dearfoams Parent Acquired by Marubeni Growth Capital
RGB becomes the first investment of the Next Generation Corporate Development Division of Marubeni in the U.S., a wholly-owned subsidiary of Tokyo-based Marubeni Corporation.
Academy Sports’ Q1 Earnings Miss Wall Street Targets
Academy Sports and Outdoors, Inc. reported first-quarter earnings on an adjusted basis slid 20.8 percent and came in lower than analyst expectations for the second straight quarter. Same-store sales were down 5.7 percent, and gross margins were off slightly. Steve Lawrence, CEO, said, “Our customers remain under pressure in the current economic environment.”
Le Coq Sportif Parent Posts Loss In 2023
Airesis, the Swiss holding company that owns the Le Coq Sportif French sports brand and Movement skis, recorded a negative EBITDA of CHF 20 million ($22 mm) and a net loss of CHF 36 million ($40 mm) in 2023.
Waiting Period Ends In JD Sports Bid For Hibbett Sports
Hibbett, Inc. said in a regulatory filing that the Hart-Scott-Rodino waiting period for the proposed acquisition by JD Sports expired, effective June 7, removing any objections from the federal government to the deal on antitrust grounds.
Primark to Open Store in Tysons Corner
Tysons Corner Center in Tysons, VA, will open on July 16, increasing the retailer’s U.S. store count to 25 in 10 states and over 445 stores globally.
April Golf Rounds Show Slight Gain
Golf Datatech, which has agreed to be acquired by Circana, reported that the national rounds of golf played were up 0.8 percent for the month of April year over year and are up 4.2 percent in the first four months of the year.
CNBC/NRF: Retail Sales Jump in May After Slow April
May’s year-over-year gains align with what was seen earlier in the year, and the month-over-month increases are the largest in over a year.
Golden Goose’s Debt Ratings Upgraded On Strong Q1, Upcoming IPO
S&P Global Ratings raised the debt ratings on Golden Goose SpA due to its strong operating performance in the first quarter marketed by 12 percent growth on a constant-currency basis. The company said the Italian luxury brand’s producer’s ratings could be further upgraded upon the expected completion of an initial public offering.
Monthly Import Cargo To Hit Highest Level Since 2022
Retailers, however, are also facing supply chain challenges with congestion at overseas ports that are affecting operations and shipping rates.
TJX Companies Plans Joint Venture in Mexico with Grupo Axo
TJX does not anticipate this proposed transaction with Guppo Axo, the operator of global brands in Mexico and South America that includes both full- and off-price formats, to have a material impact on its previously reported sales, profit or earnings per share guidance for Fiscal Year 2025.
