SGB Update Footwear
U.S. Manufacturing Sector Contracted in July for Fourth Consecutive Month
The ISM is reporting that economic activity in the manufacturing sector contracted in July for the fourth consecutive month and the 20th time in the last 21 months.
Geox Sales Slid 9.4 Percent in H1 Due to Wholesale Weakness
Geox reported consolidated sales for the first six months amounted to €320.4 million, decreasing by 9.4 percent compared to the previous year or down 8.0 percent at constant exchange rates, primarily due to the negative performance of the Wholesale channel and Franchising, only partially offset by the positive trend of the Direct Digital channel.
EXEC: Jobs Report Sends Markets Lower on Concerns Over U.S. Economy
The U.S. economy only added 114,000 non-farm payroll jobs in July, fewer than the 175,000 expected by economists. The unemployment rate rose to 4.3 percent — its highest level since October 2021.
Allbirds Taps Belle Fashion Group as Greater China Partner
Belle Fashion Group is now the exclusive distributor and licensee for Allbirds in mainland China, Macau and Taiwan. The deal was effective at the end of June.
Fred Segal Closes Remaining Store Locations
Fred Segal, the Los Angeles, CA luxury boutique, closed its remaining two stores and also shut down its website. Fred Segal Home, the brand’s luxury furniture store, will remain open in Culver City, CA, and the fredsegalhome.com website will continue.
Onebeat Expands Executive Leadership Team, Appoints Chief Revenue Officer
Sevonne Eliyahu brings nearly two decades of growth strategy and executive experience at tech giants, including SimilarWeb and LivePerson.
Sportsman’s Warehouse Secures $45 Million Term Loan
With the addition of the $45 million term loan, the company’s total borrowing capacity, which includes its revolving credit facility, is now $395 million.
NSGA Names Hayley Fansler Business Development Director
The National Sporting Goods Association (NSGA) promoted Hayley Fansler to business development director. Fansler joined NSGA in March 2018 as business development manager.
Crocs, Inc. Posts Q2 Growth Despite Flat Wholesale and HeyDude Fall
Crocs Brand revenues increased 9.7 percent (+11.2 percent CC) to $914 million while HeyDude Brand revenues continued to contract, decreasing 17.5 percent to $198 million.
Ironman Group Promotes Michelle Pepper to Managing Director of Oceania
In her new role, Pepper will be responsible for overseeing all aspects of the Oceania business for The Ironman Group, leading the four Oceania offices, Melbourne, Sydney and Noosa in Australia and Auckland in New Zealand, and the more than 80 full-time employees.
Yue Yuen Forecasts Robust Earnings Gains In First Half
Yue Yuen reported that net income will surge in the range of 115 percent to 120 percent in the first half, to $83.6 million, attributable to a pickup in footwear manufacturing.
Gildan Activewear’s Q2 Sales Improve 3 Percent On Activewear Boost
Gildan Activewear, Inc. reported sales rose 3 percent in the second quarter as 6 percent growth in its activewear segment offset declines in hosiery and underwear due to the phase-out of its sock license with Under Armour. Adjusted diluted EPS rose 17 percent year-over-year.
EXEC: Sportscape Executes Debt Refinancing
Houlihan Lokey served as the exclusive financing advisor to arrange, structure, and negotiate the debt raise for Sportscape, which closed on 23 July 2024.
Steve Madden Gets Apparel and Accessories Lift in Second Quarter
Second quarter revenue increased18 percent year-over-year and adjusted diluted EPS grew 23 percent compared to the Q2 period in 2023, said to be driven by “exceptional growth” in the accessories and apparel categories.
Report: U.S. Consumer Confidence Shows Slight Uptick in July
Data released July 30, showed that The Conference Board’s gauge for July increased to 100.3 from a downwardly revised 97.8 in June. Based on consumers’ assessment of today’s business and labor market conditions, The Conference Board’s Present Situation Index declined to 133.6 from 135.3 last month.
