SGB Update

University Of Michigan Reports Consumer Sentiment Recovery In January

Consumers are feeling better about the economy for the second month, according to The University of Michigan’s closely watched Consumer Sentiment Index, which measured 64.9 for January, up slightly from the preliminary reading of 64.6 earlier this month and up from 59.7 in December.

Tread Labs Expands U.S. Sales Team

Tread Labs, the performance insole brand established by Chaco Founder Mark Paigen, has expanded its sales team and doubled the size of its headquarters.

Nike Sues Japanese Fashion Brand

Nike, Inc sued Bathing Ape (BAPE), the Japanese fashion brand in New York, for allegedly copying some of its most iconic footwear styles.

Sam’s Club To Open 30 Locations

Walmart-owned Sam’s Club plans to open more than 30 new stores in the U.S. over the next few years, marking its first expansion since 2017.

Sapphire Sport Venture Fund Raises $181 Million

Sapphire Sport, a venture fund, raised $181 million from a group of investors, including Adidas, Sinclair Broadcast Group, Madison Square Garden Sports, Arctos Sports Partners, City Football Group, and AEG Worldwide.

Mystery Ranch Names VP Of Sales And Marketing

Mystery Ranch hired Dan Dahl as VP of sales and marketing. He brings extensive experience in outdoor, fashion, military, and international markets to the position.

Pacsun Announces Leadership Transition

Pacsun reported a leadership transition in which Brie Olson, Pacsun president and Board member, will be appointed co-chief executive officer with Co-CEO Mike Relich, effective March 9, 2023. Alfred Chang will step down after 17 years with the company to join Fear of God, a Pacsun brand partner, as CEO.