SGB Update Outdoor
Sierra Sets Store Opening for Southwest Ohio
The outdoor-themed off-price retailer, owned by TJX Cos., announced plans to open a store in Beavercreek, OH on August 15. The 19,800-square-foot space will be located at 2850 Centre Drive in Beavercreek, next to TJ Maxx and Lowe’s.
L.L.Bean to Open First Store in Georgia
L.L.Bean plans to open its first store in Georgia at Lulah Hills, a new mixed-use development under development in Decatur.
Walmart Moves Kyle Kinnard to COO for U.S. Business from COO International
Kinnard currently serves as COO of Walmart International. He has held several senior roles during more than 25 years with the company, including executive vice president of Health and Wellness for Walmart U.S.
Play It Again Sports Parent Sees Slight Profit Decline in Q2
Winmark Corp., the parent of Play It Again Sports and several other resale franchises, reported net income of $10.4 million, or $2.81 a share, in the second quarter ended June 27, slighty down from earnings of $10.6 million, or $2.89, in the same period a year ago.
Whisper Marine Acquires Crownline Boats, Will Stay Focused on U.S. Made Boats
Whisper Marine, LLC, based in Johnson City, TN, is reported to be focused on “building a portfolio of premium American-made recreational boating brands”.
Kopilot.ID Hires Outdoor Industry Veterans to Expand Outdoor and Action Sports Efforts
Brook Hopper is expected to lead brand strategy, communications, content, creative direction and messaging, while Jake Martin will lead commercial strategy focused on business development, strategic partnerships, product integration, retail strategy and channel growth.
Kästle USA Resets Leadership Team as Company CEO Steven Poulin Resigns
The Austrian ski brand reported that Steven Poulin plans to resign as CEO effective August 27. To support Kästle USA’s next phase of growth, Jed Duke was appointed managing director and Justin Heanue, U.S. sales and operations director.
FDRA: Footwear Inflation Shows Slight Deceleration in June After May’s Peak Levels
After rising the most in three years in May with a 4.1 percent hike, overall inflation in the U.S. footwear category decelerated slightly in June, up 3.5 percent, according to the latest analysis from the Footwear Distributors and Retailers of America. May marked the sharpest advance within the footwear category in 45 months.
June CNBC/NRF Retail Monitor Report Reveals DD Growth in Key Channels
The effects of a Juneteenth holiday falling on a Friday this year and creating another three-day weekend for the retail month of June – which ran through July 4 this year – also provided a year-over-year boost for retailers and restaurants even as falling gas prices cut into some top-line trends in the month-over-month assessment of the retail business.
Costco’s June Comps Climb 8.8 Percent, Digital-Enabled Sales Surge
Costco Wholesale Corp.’s same-store sales, excluding changes in gas prices and foreign exchange, were up 7.6 percent in the U.S. and 7 percent in total. Digitally-enabled sales gained 21.5 percent on that basis.
L.L.Bean Appoints Independent Directors
L.L.Bean, Inc. appointed Jared Carver, the CEO of Tracksmith and former Converse CEO, and Kyle Leahy, the former CEO of Glossier, as independent directors to its Board of Directors.
Deloitte: Back-To-School Spending Declining Amid Economic Anxieties
Back-to-school spending, adjusted for inflation, is expected to decline 6 percent this year as consumers’ concerns about the economy heightens, according to Deloitte’s annual Back-to-School Survey. Adjusted spending is expected to be down 27 percent compared to a recent peak in 2021. Families are expected to prioritize necessities such as clothing while cutting back on tech purchases.
GoPro Secures $20M in Founder Funding
GoPro, Inc. has reported that Nicholas Woodman, company founder and CEO, has agreed to provide $20 million in financing to GoPro through the issuance of $20 million in aggregate principal amount of senior secured notes and warrants to purchase shares of the company’s Class B common stock.
Import Cargo Volume Projected to Set Record in Anticipation of August Tariffs
Import volume at the nation’s major container ports is forecast to hit a new all-time record this month, driven by retailers stocking up ahead of expected tariff increases, according to the latest Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Iowa’s Mojo Cycling to Close
Mojo Cycling, an independent bike shop in Newton, Iowa, is closing after 16 years in operation as the owner, Joe Urias, heads to retirement.
