SGB Update Footwear
Vista Outdoor Appoints Co-CEOs Ahead of Split
As part of the previously announced plan to sell its ammo business to Czechoslovak Group and change the company’s name to Revelyst, Vista Outdoor, Inc. named Eric Nyman and Jason Vanderbrink as co-chief executive officers in a regulatory filing.
WFSGI Rolls Out New Strategic Plan Focused on Physical Inactivity
The World Federation of Sporting Goods Industry (WFSGI) rolled out a new strategic plan last week prioritizing the highest historical rate of physical inactivity.
Champion Names VP, Chief Marketing Officer
HanesBrands announced that Richard Mcleod was named vice president and chief marketing officer of global Champion. He joined the company from Canada Goose, where he was senior vice president of brand.
ICSC Releases Post-Thanksgiving Weekend Survey Results
The International Council of Shopping Centers (ICSC) reported the results of its post-Thanksgiving weekend survey*, which showed that over half of respondents (56 percent) noted that they shopped just as much or more than in the past, an increase of 6 percent from its 2022 survey.
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.
German Retailer SportScheck Files for Insolvency; Frasers Exits Deal
UK-based Frasers Group plc, said it intends to work with the appointed preliminary insolvency administrator of SportScheck with a view to acquiring the SportScheck business/assets out of administration.
Dr. Martens Sees First-Half Sales Slide on Softness Within U.S. Wholesale
Dr. Martens plc reported revenue in the first half ended September 30 declined 5 percent, or 3 percent on a currency-neutral basis, primarily driven by weakness in U.S. wholesale channels.
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.
Journeys a Drag on Genesco Q3 Top-Line; Parent Reduces Guidance
Genesco, Inc. lowered its guidance for the year after October sales weakened, driving a shortfall in third-quarter results. In the quarter, Journey’s same-store and direct sales fell 8 percent.
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.
