SGB Update Footwear
Zelig Secures Funding Led by Hilco
Zelig, based in Los Angeles, reported it secured $15 million in Series A funding to support the launch of its AI-powered virtual try-on and styling technology (VTO-S). Hilco Global led the funding round, joined by luxury investor Bezikian Zareh, which brings the company to a $100 million valuation.
Lightspeed Commerce Revenues Jump 25 Percent in Fiscal Q2
The POS and payments platform used in the bike shop segment, with expansion into other active lifestyle specialty retail segments, reported strong fiscal Q2 progress in its key fiscal 2024 objectives.
Grand Rapids’ Al & Bob’s Sports to Close
Al & Bob’s Sports, the hunt & fish shop in Grand Rapids, MI, is closing after more than five decades.
Ebay opens Canal Street Wear store in NYC
The company said the streetwear industry is estimated to be worth more than $180 billion and global searches for streetwear have increased by more than 150 percent since the beginning of the year on eBay.
OR, Surf Expo Parent Sees Strong Core Show Business in Q3; Content Weakens
Emerald Holding, Inc., the operator of Outdoor Retailer and other trade shows, reported sales grew 16.2 percent in the third quarter ended September 30 while underlying earnings improved excluding year-ago event cancellation insurance benefits. Strength in its core trade show segment offset weakness in its content business.
Lids Opens NBA Store in Houston
Lids, in partnership with Fanatics and the NBA, opened a second NBA-themed store in The Galleria in Houston, TX, its second flagship in the U.S. following its New York City store that opened in 2015.
October U.S. Employment Numbers Fall Short of Expectations
Many noted that the 150,000 increase in jobs and the 3.9 percent unemployment rate were in line with the pre-pandemic employment picture and some wondered if maybe, just maybe, the market was getting back to normal.
Report: Foot Traffic Data Sees Possible Boost for Sporting Goods Retail for Black Friday
Year-over-year visit gaps at Recreational & Sporting Goods chains, Electronics Stores and Department Stores widened significantly since the end of August, but more recent data looks a little more promising, with all three categories now seeing their visit gaps begin to shrink.
Christy Sports Appoints New CEO, Marketing and Merchandising Chiefs
Christy Sports appointed Pete LaBore as chief executive officer, Mimi Nuelle as chief merchandising officer, and Danielle Quatrochi as chief marketing officer.
VF Corp.’s Debt Ratings Outlook Revised To Negative by S&P
S&P Global Ratings reduced its debt ratings outlook at VF Corp. on the company’s fiscal second-quarter report which came in below the rating agency’s base-case forecast with leverage increasing further to 4.4x compared with 3.6x in the same prior year period.
NRF Sees 3 to 4 Percent Growth in Holiday Spending
The National Retail Federation (NRF) delivered its annual holiday forecast, predicting sales during November and December will be between 3 percent and 4 percent higher over 2022, similar to pre-pandemic levels.
Birkenstock Makes Loan Repayments Following IPO; Debt Now at €1.3 Billion
The company made an early repayment of $450 million on its U.S. dollar Term Loan B and €100 million on its euro Vendor Loan. Both loans were solely issued to finance the acquisition of Birkenstock by L Catterton in April 2021.
Titleist Parent Lifts Annual Earnings Outlook on Golf Club and Ball Strength
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported net earnings rose 10.6 percent in the third quarter on a 6.3 percent revenue gain. The increases were led by double-digit growth in club sales with with a 6.3 percent increase in balls. Revenue guidance for the year was reaffirmed and earnings guidance slightly raised.
Crocs, Inc. Lowers Outlook On Continued HeyDude Weakness
Crocs, Inc. topped expectations for Q3 but guidance for the year was reduced as sales targets for HeyDude for the year were reduced for the second straight quarter.
Report: Authentic and WHP Global Exploring Champion Acquisition
Hanesbrands, the parent company of Champion, has had “wide interest” from parties, including WHP Global and Authentic, in acquiring the brand since the company announced in late September that it was considering a possible sale.
