Wolverine World Wide’s Debt Ratings Lowered
Moody’s Investors Service downgraded Wolverine World Wide, Inc.’s debt ratings. The downgrade reflects Wolverine’s elevated leverage compared to Moody’s original expectations and similarly rated peers and risks to the pace of deleveraging given macroeconomic, foreign currency, supply chain pressures, and the more promotional retail environment.
Rally House Multiplies In Louisville Market With New Store
Rally House was introduced to Louisville earlier this year, and the chain has opened another new location in the area with Rally House Paddock Shops.
Stella International Sees 19 Percent Growth In First Half
Hong-Kong-based Stella International Holdings Ltd’s revenue increased by 18.9 percent in the six months to U.S.$827.2 million with support from 9.4 percent growth in shipment volume.
Revo Brands Hires Chief Revenue Officer
Revo Brands, the parent company of Real Avid and Outdoor Edge Cutlery, has hired Jody Agnew as chief revenue officer.
The Buckle’s Q2 Profits Slip 2.5 Percent
The Buckle Inc. reported earnings in the second quarter that were slightly down year over year although same-store sales showed a modest gain.
RV Retailer Expands Into Atlanta With Camper City Acquisition
RV Retailer, LLC announced the acquisition of Camper City with a location in Buford, GA in the greater Atlanta market.
Foot Locker’s Q2 Tops Wall Street Targets, Outlook Slightly Lowered
Foot Locker Inc. reported second-quarter earnings declined sharply versus year-ago levels but topped Wall Street’s consensus estimate. The sneaker giant now sees full-year results arriving at the lower end of previous guidance.
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.
