SGB Update Footwear
Zumiez’s Q1 Tops Guidance, Comps Climb 5.5 Percent
Zumiez Inc. reduced its net loss in the first quarter ended May 3 as same-store sales improved 5.5 percent on strong full-price selling. Sales topped Zumiez’s forecast for the quarter while earnings were in line.
The Buckle’s May Comps Jump on Double-Digit Women’s Growth
Buckle said men’s sales increased 1.0 percent with overall price points on the men’s side of the business up about 2.5 percent. Women’s sales jumped 17.5 percent with overall price points increasing about 4.0 percent.
Nike Promotes Tony Bignell to Chief Innovation Officer
Nike has confirmed reports that Tony Bignell, VP of men’s sport performance footwear, has been promoted to chief innovation officer. He replaces John Hoke who plans to retire in October.
Adidas Gets Debt Upgrade by S&P on Improving Performance
S&P Global Ratings raised its debt ratings on Adidas due to the brand’s stronger-than-expected deleveraging trend, mainly driven by the group’s sustained momentum in its underlying operating performance and cash flow generation improvements versus previous forecasts.
Lands’ End Maintains FY Guidance as Management Repositions Business, Seeks Buyer
The company posted a low-single-digit increase in Gross Merchandise Value (GMV) for the fiscal first quarter when excluding divested categories that moved to licensees while also reporting a high-single-digit decline in net revenue for the period.
Authentic Brands Group Secures Rockport Brand Distribution Partner for UK and Ireland
Authentic has inked a new partnership with Chapters Brand Group, a leading footwear distributor in the UK and Ireland, to distribute Rockport men’s and women’s footwear across the regions.
Advanced Manufacturing Group Appoints Vice Chairman
AMG, which provides supply chain services to the footwear industry, has elevated Alan Lunder to the position of vice chairman. He will continue to work closely with company Chairman and Founder Jonathan Bobbett.
Costco May Comps Grow 6.0 Percent x-Gas; E-Commerce Up 12 Percent
Excluding gas, Costco’s same-store sales in the U.S. were up 5.5 percent in the U.S. and 6.0 percent overall. E-commerce sales advanced 12 percent.
Tilly’s Q1 Same-Store Sales Retreat 7 Percent
The surf & skate chain logged a slightly wider loss in the first quarter ended May 3 as same-store sales dropped 7.0 percent. The sales decline was smaller than in the fourth quarter, with further improvement seen so far in the second quarter.
Adidas to Pay Fine for Safety Violations at New York Warehouse
In the settlement with the U.S. Department of Labor, Adidas will pay $235,000 in penalties to resolve violations stemming from missing guardrails and unsafe ladders at a warehouse in upstate New York.
The North Face Hit with Cyber Attack
The company discovered a “small-scale” cyberattack in April of this year, and an unauthorized party may have stolen some personal information from its customers but not their financial information, which TNF processes through a third party.
Authentic Adds Volcom and Spyder to Boardriders Japan Partnership
With the addition of Volcom and Spyder, Boardriders Japan (BRJ) now manages all retail, wholesale and e-commerce operations for eight of Authentic’s action and outdoor sports brands in Japan.
Genesco’s Fiscal Q1 Boosted by 8 Percent Comp Gain from Journeys Group
First-quarter earnings topped expectations as sales exceeded plan, led by an 8 percent increase from Journeys Group, while expenses benefited from cost-containment efforts. The performance marked the company’s third consecutive quarter of positive comparable sales gains and guidance was reiterated for the year.
Flojos Appoints Christian Lass Director of Sales, Builds Out U.S. Sales Team
Lass previously served as director of sales for Arbor Collective, Dragon, 509, and FMF (La Jolla Group). Other new additions to the sales team include Adam Scott, Barcus Evans, Sean Gallivan and Paul Reinecke.
Academy Sports + Outdoors Expanding with Three New Locations
The retailer has opened two new locations in Fort Walton Beach, Florida. and Midlothian, Virginia; and will open another new store in Morgantown, West Virginia later this month.
