SGB Update Footwear
Shoes For Crews Emerges from Chapter 11 as Assets are Sold to Lenders
Following the close of the Sale Transaction, ownership of Shoes For Crews and its international entities will transfer to a group of top-tier global investment firms. The company’s current management team will reportedly continue to lead the business.
Fanatics Inks Partnership Deal with New Zealand Rugby
Fanatics will become the master licensee for New Zealand and will run the e-commerce and physical retail for the All Blacks and the Black Ferns.
OrthoLite Expands European Market Presence
OrthoLite Europa’s expansion reportedly “bolsters capacity, innovation, and local-for-local insole production solutions” for OrthoLite’s European brand partners.
Sports Authority Founder Jack Smith Passes Away
Smith was the visionary who turned Sports Authority into one of the largest sporting goods retail brands worldwide. Smith also served as chairman of the board of the National Sporting Goods Association (NSGA) and was inducted into the Sporting Goods Industry Hall of Fame in 2016.
REI Co-op Taps Under Armour, Target Vet as VP of Human Resources
Mike Cannata was, most recently, vice president of human resources at Under Armour. Before UA, he worked for over a decade at Target, progressing from a store management through human resources leadership.
Nike Inc. Beats Q4 EPS Estimates But Warns of Fiscal 2025 Guidance Cut
Nike Inc. reported earnings in the fiscal fourth quartar ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace.
Birkenstock Announces Pricing of Secondary Offering
Birkenstock Holding plc announced the pricing of an underwritten secondary public offering of 14 million of its ordinary shares by L Catterton, its majority shareholder, at a price to the public of $54.00 per share.
Report: Shein Filed for London Listing in Early June After U.S. Snub
The filing, which would initiate the process for a listing on the London Stock Exchange, comes after the company explored a listing on the Exchange early this year after lawmakers opposed a U.S. listing, Reuters reported in May, citing sources.
REI Adds Two Board Members
Patricia Lopez, a former executive in the beauty industry, and Doug Mack, former CEO of Fanatics, were elected to the company’s board of directors in May.
WHO Report: Global Levels of Physical Inactivity Among Adults Continues to Rise
In the World Health Organization’s recently published study, physical inactivity is a silent threat to global health, contributing significantly to the burden of chronic diseases, with physical inactivity still more common among women globally than men.
Omni Retail Enterprises Names CEO
Former Vitamin Shoppe CEO and Pier 1 Imports exec, Sharon M. Leite, will lead the revitalization of Omni’s retail, educational and health & wellness brands.
Levi Strauss’ Q2 Profits Top Expectations, Boosted by Americas Strength
Levi Strauss & Co. reported a strong earnings uptick in the fiscal second quarter ended May 26 as sales grew 8 percent with double-digit growth in the Americas. Beyond Yoga’s sales grew 13 percent.
Hibbett Expands Omnichannel Fulfillment Capabilities
Expanding its omnichannel fulfillment capabilities will offer Hibbett and City Gear customers more convenience when shopping with the retailer.
Chief Omni and Innovation Officer at Tapestry Joins ThredUp’s Board
Noam Paransky, a retail and tech executive, brings 25-plus years of experience to ThredUp’s Board of Directors to enhance the secondhand shopping experience.
For Bare Feet and Pro Compression Parent Names CEO for Sock Companies
For Bare Feet, LLC and its owner Taglich Private Equity, LLC have appointed Justin Fredericks as the CEO, effective immediately. Fredericks will also serve as CEO of Pro Compression, another brand in the Taglich Private Equity portfolio.
