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.
Castore Secures Equity Investment
Castore, the U.K.-based sportswear brand, has secured a £145 million ($183.1 million) investment in a funding round led by the Raine Group, the U.S. financial advisory and investment firm.
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.
Bogner Opens Flagship Stores in NYC and LA
The Germany-based so-called “Ath-Luxury” brand that claims to effortlessly transition from the slopes to the city and beyond said it is building on the “resounding success” of its short-term and pop-up locations on both coasts. The stores officially opened their doors in November 2023.
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.
Delta Apparel to Sell Fayetteville Factory
Delta Apparel, Inc., in a regulatory filing, said it expects to receive net proceeds of $23 million from the sale and long-term leaseback of its approximately 35-acre campus in Fayetteville, NC. The buyer is RH Dunn, LLC.
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.
American Outdoor Brands Sales Grow Mid-Singles in Fiscal Q2
Second quarter earnings per share was down by two-thirds despite a 6.2 percent increase in sales. The shooting sports category saw a slight decline in net sales by that decline was offset by growth in the outdoor lifestyle category.
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.
Ski-Doo Parent Company Reports Q3 Lift from N.A. Snowmobile Sales
BRP Inc.’s North American Powersports Products retail sales were flat year-over-year for the third quarter, reportedly driven by the strong retail sales of Snowmobiles offsetting declines elsewhere. North American retail sales for Marine Products decreased 30 percent.
Merrell Hires Chief Marketing Officer
Pallav Tamaskar, an ESPN veteran, joins company with a “strong consumer packaged goods and media background.” Most recently, he was the EVP and managing director of Myprotein (THG) North America.
Topgolf’s Second Louisiana Venue to Open in December
Topgolf reported it will open its Lafayette, LA venue on December 15, approximately 15 minutes from downtown Lafayette, in the Ambassador Town Center.
