Foot Locker Partners With Fanatics To Expand Licensed Sports Offering
Foot Locker, Inc. and Fanatics announced a new long-term connected inventory partnership that will broaden the officially-licensed fan gear and merchandise assortment available online to Foot Locker shoppers.
Foot Locker Appoints New CEO, Dick Johnson To Retire
Foot Locker, Inc. announced that, as part of a planned succession process, Richard Johnson will retire as president and chief executive officer, effective September 1. Mary Dillon, former executive chair and CEO of Ulta Beauty, Inc., has been appointed president and chief executive officer and a member of the Foot Locker Board, also effective September 1.
Ross Stores’ Q3 Comps Decline 7 Percent
Ross Stores, Inc. reported profits declined 22.1 percent in the second quarter due to higher markdowns and a 7 percent same-store drop. The off-pricer downwardly adjusted its outlook for the year.
Nike And Adidas Settle Flyknit Infringement Lawsuit
According to the Portland Business Journal, Nike filed paperwork with the U.S. District Court in Portland, OR, to settle its patent infringement lawsuit against Adidas over the alleged use of Nike’s knitted footwear technology. The filing does not disclose the settlement terms.
Kohl’s And Sephora Expand Partnership
Kohl’s and Sephora announced that the companies’ partnership would expand to include a Sephora presence at all of Kohl’s more than 1,100 locations.
American Council On Exercise Adds Board Member
Becky Roseberry, former senior vice president of finance for CorePoint Lodging, Inc., has joined the American Council on Exercise (ACE) as a board member.
Texas State Extends Partnership With Adidas
Texas State Athletics has extended its partnership with Adidas as the University’s exclusive athletic footwear, apparel and accessories outfitter. The partnership states that Game One will be the official Adidas products provider to Texas State student-athletes and coaches.
Gregory’s Sales Expand 6.6 Percent In First Half
Gregory’s sales reached $34.9 million in the six months ended June 30, increasing 6.6 percent on a reported basis and 12.8 percent on a currency-neutral basis, according to its parent, Samsonite International.
Port Of Los Angeles Breaks Another Cargo Record In July
The Port of Los Angeles processed an estimated 935,345 Twenty-Foot Equivalent Units in July, outpacing the previous record set in 2019 by 2.5 percent. The Port has set monthly records in five of seven months in 2022.
U.S. Retail Spending Shows Slight Gain In July
As calculated by the National Retail Federation, core retail sales rose in July even as overall sales reported by the U.S. Census Bureau remained flat on a monthly basis, and both calculations showed strong year-over-year gains as consumers continued to shop despite high inflation respectively, the NRF said.
Kohl’s Slashes Guidance On Planned Inventory Reduction
Kohl’s, Inc. cut its full-year forecast due to plans to increase promotional activity to reduce inventory levels. The department store chain reported second-quarter results slightly ahead of expectations but indicated a weakening economy and high inflation are weighing on sales growth.
Winnebago Approves 50 Percent Hike In Quarterly Dividend
Winnebago Industries, Inc. said its board raised its quarterly dividend by 50 percent and approved a new share repurchase authorization program.
Moody’s Affirms Newell Brands’ Debt Ratings
Moody’s Investors Service affirmed Newell Brands, Inc.’s debt ratings. The affirmation reflects Newell’s large-scale and good operating performance from sustained organic growth and operating profit margins despite the current inflationary period.
Movement Introduces New CEO
Movement Climbing, Yoga and Fitness, the operator of climbing gyms, hired Jeremy Levitt as chief executive officer.
Linus Bikes Signs New Canadian Distribution Partner
Linus announced that Noru XPLR, Inc. is now an exclusive authorized distributor of Linus Bike products for Canada.
