Import Slowdown Continues As Fed Tries To Rein In Consumer Demand
With inflation continuing and the Federal Reserve hoping to cool demand through higher interest rates, imports at the nation’s major container ports are expected to fall below last year’s levels for the remainder of 2022, according to the monthly Global Port Tracker report released by the National Retail Federation.
Alterra Mountain Company Acquires Ski Butlers
Alterra Mountain Company acquired Ski Butlers, a ski equipment rental and delivery service headquartered in Utah.
Erem Hires Vice President, Operations And Wholesale
Erem, the hiking boot company, recently hired Chris Rischke as vice president of operations and wholesale, effective immediately. Most recently, he was director of operations at Oboz for five years.
American Outdoor Brands Reports 28 Percent Q1 Revenue Slump
American Outdoor Brands Inc. reported sales were down 28 percent in the first quarter ended July 31.
Zumiez Q2 Falls Short Of Guidance
Zumiez Inc. reported sales were down 18 percent in the second quarter ended July 30 and fell by the same amount in August. Second-quarter results were well below company guidance. Rick Brooks, CEO, said, “We are disappointed that our recent performance fell short of expectations and we are making adjustments to our merchandise assortments and managing expenses in order to improve near-term results.”
Smith & Wesson’s Sales Tumble 69 Percent
Smith & Wesson Brands Inc. reported a significant decline in earnings in the fiscal first quarter ended July 31 as sales dropped 69 percent. Mark Smith, CEO, commented, “As expected, our first quarter results reflected a return to a normal demand pattern at the retail counter for firearms combined with temporary headwinds from inventory corrections within the channel.”
Dovetail Workwear Hires National Sales Director
Dovetail Workwear hired Katie Copeland as national sales director.
Qurate Appoints Chief Merchandising Officer, QVC U.S.
Qurate Retail Group hired Stacy Bowe as chief merchandising officer at QVC U.S. Most recently she worked at G-III Apparel Group and before that led the home category for Macy’s.
Original Footwear Company Names CEO
Original Footwear Company, the maker of tactical footwear, named Mark Cavanaugh as CEO, succeeding Founder Kevin Cole, who will remain on its Board of Directors.
Life Time Opens Wall Street Location
Life Time announced the opening of Life Time One Wall Street, the first of three athletic clubs planned to open in New York City by the end of 2022.
TrueTimber Names Director Of Licensing
TrueTimber, based in Inman, SC, appointed industry veteran Richard Howard as director of licensing.
MidwayUSA Appoints Vice President, Merchandising
MidwayUSA’s Jeff Larkin recently accepted the position of vice president of merchandising. The transition comes following merchandising vice president Ryan Fischer’s plans to retire later this year.
Puma’s First Metaverse Experience, Black Station, Debuts At New York Fashion Week
Puma’s first metaverse website experience, called Black Station, featuring exclusive NFTs with limited edition redeemable physical sneakers as part of its ‘Futrograde’ will debut during New York Fashion Week.
Vuori Opens First Store In Connecticut
Vuori has opened a store in Westport, its first Connecticut store.
Todd Krinsky New CEO Reebok
Authentic Brands Group (ABG) has promoted Todd Krinsky as the new CEO of Reebok after acquiring the brand earlier this year. Matt O’Toole, who has led Reebok for the past 15 years, will transition to join ABG as executive chair in January 2023.
