SGB Update Footwear
Former JCPenney CEO, Mike Ullman, Passes Away
In addition to his extensive career leading U.S. and global businesses, Ullman had significant experience in government, academia and philanthropic work focused on health care for those disadvantaged, among other humanitarian initiatives.
NRF: Import Cargo Volume May Peak in August Ahead of Potential Port Strike
The contract between the International Longshoremen’s Association and the U.S. Maritime Alliance covering East Coast and Gulf Coast ports will expire on September 30. The ILA has threatened to strike if a new contract is not reached by then.
Elevate Textiles Names Head of Corporate Development and Strategy
Elizabeth K. Ren joins Elevate Textiles with over 20 years of experience in strategic planning, corporate development, investment banking, corporate finance, operations, and treasury. Her career has included key financial and executive positions across private and Fortune 100 companies, including Under Armour.
Under Armour Lifts FY Guidance On Surprise Q2 Profit
Under Armour, Inc. reported a loss of $305 million in the second quarter after absorbing charges related to the settlement of a shareholder lawsuit, but posted a surprise profit excluding the charges and slightly raised its adjusted earnings guidance for the year. Sales declined 10 percent, dragged down by a 14 percent slide in North America.
The Buckle’s July Same-Store Sales Decline 7 Percent
The Buckle, Inc. announced that comparable store sales decreased 6.8 percent in July year-over-year.
Revolve Returns to Growth in Q2
Online fashion retailer Revolve Group reported sales grew 3 percent in the second quarter, its first positive quarter since the fourth quarter of 2022. Earnings more than doubled.
DSW Parent Designer Brands, Inc. Appoints New Board Member
DSW-parent Designer Brands Inc. appointed John Atkinson to its Board of Directors. Atkinson is a retired audit partner from KPMG’s Cincinnati office.
TSG Consumer Partners Appoint Head of Strategic and Operational Services Group
Dori Konig brings over 20 years of finance, strategy, and operating experience to the role. Most recently, he was the managing director at global investment firm Platinum Equity, where he led the company’s East Coast Operations.
Boot Barn Fiscal Q1 Earnings Easily Top Expectations
Profits at Boot Barn, Inc. advanced 13.4 percent in the fiscal first quarter. Sales grew 10 percent from new stores, 1.4 percent same-store growth and 6.7 percent e-commerce growth.
Allbirds Sees Q2 Sales Drop 27 Percent
Allbirds, Inc. reported a net loss in the second quarter ended June 30 as sales shrunk 26.8 percent. The eco-friendly footwear brand said it is prioritizing three main focus areas designed to return to top line growth in 2025,
OR and Surf Expo Parent Narrows Q2 Loss on Flattish Revenue Decline
The Emerald Holding revenue decrease was attributed to prior-year discontinued event revenue of $3.7 million and scheduling adjustments of $1.1 million, partially offset by organic growth of $2.6 million as well as $1.7 million in revenue from acquisitions.
Wolverine Worldwide Raises FY Outlook on Early Payback from Turnaround Efforts
Wolverine Worldwide reported earnings fell 21 percent in the second quarter as sales on an ongoing basis sunk 18 percent due to steep declines at Merrell and Saucony, but the company still raised its sales and earnings guidance for the year as its turnaround program is driving better-than-expected results.
Bogs Drags Down Parent’s Q2 as Outdoor Retailers Exhibit Caution
Bogs posted a 33 percent decline in wholesale sales in the second quarter tumbled, but the parent Weyco Group is forecasting sales for the outdoor footwear brand would stabilize in coming quarters.
The Running Event Leaving Austin in 2025 but Stays Close to Longtime Home
The Running Event (TRE) is moving to San Antonio, TX, for TRE 2025 in November 2025, and the change looks to be permanent.
Under Armour’s Chief Consumer Officer to Exit
According to an SEC filing on Tuesday, August 6, Under Armour’s Chief Consumer Officer, Jim Dausch, will leave the company at the end of August “to pursue other opportunities.”
