Amazon To Close 4-Star, Book And Pop-Up Stores
Amazon is closing 68 brick-and-mortar bookstores and pop-up kiosks in the U.S. and UK to concentrate on its supermarkets, including Whole Foods and Amazon Fresh, according to a report from Reuters.
Nike Suspends Online Sales In Russia
Nike Inc. has stopped taking online orders on its Russian website because it can’t guarantee delivery, Nike said on its Russian website.
Qurate Retail Group Announces Leadership Appointments
Qurate Retail, Inc., the parent of QVC and HSN, announced new executive leadership appointments for Qurate Retail Group to accelerate its leadership in video commerce, drive operation improvement, and differentiate its brand experiences across core vCommerce brands in the U.S.— QVC and HSN.
ACT Lab Hires Marketing Chief
ACT Lab, based in Long Beach, CA, announced that bike industry veteran Steve Boehmke will lead marketing for its labs and testing facilities in the U.S., Taiwan, China, Vietnam, and Europe.
Xponential Fitness Appoints President Of XPass
Xponential Fitness, Inc. announced the nationwide launch of XPass, a fitness class subscription service, and Danyal Ali as president of XPass. Xponential’s brands include Pure Barre, Club Pilates, CycleBar, Rumble, YogaSix, StretchLab, Row House, AKT, STRIDE, and BFT.
NPD Study: U.S. Footwear Industry Growth Rate Slow But Steady Through 2024
Slow but steady will be a predominant theme for the U.S. footwear industry over the next two years, mainly due to pent-up demand and higher average selling prices. Footwear revenues hit a high point in 2021, growing by 23 percent, versus 2020, as unit sales also increased by double-digits; however, both revenue and unit sales are projected to level out through 2024, according to The NPD Group.
Kathmandu Holdings To Undergo Name Change
Kathmandu Holdings Limited announced that it will undertake a name change to KMD Brands Limited.
Ross Stores’ Q4 Comps Climb 9 Percent
Ross Stores reported same-store sales grew 9 percent in the fourth quarter but earnings declined due to higher freight, wages and COVID-related costs. The off-pricer also announced a new two-year $1.9 billion stock repurchase program, increased its quarterly dividend and raised its long-term growth potential.
NICS Firearms Background Checks Dip In February
The February 2022 NSSF-adjusted National Instant Criminal Background Check System (NICS) slipped 2.5 percent to 1.35 million compared to the February 2021 NSSF-adjusted NICS figure of 1.39 million.
Playtri Continues To Expand In Texas
Playtri, the triathlon-focused retail chain, announced it has purchased Buc’s Bike Shop in Round Rock, TX.
REI Co-op Relaunches Lifetime Membership Program
For the first time in its 84 years, REI Co-op is changing how its members can connect with the retailer by relaunching its lifetime membership program.
Culture Kings To Open Flagship Store In Las Vegas
A.K.A. Brands Holding Corp. announced that it has signed a lease with intent to open its first U.S. flagship store in late 2022 for Culture Kings, the streetwear brand, at The Forum Shops at Caesars in Las Vegas.
Signa Sports’ Sales Expand 11 Percent in First Quarter
Signa Sports United N.V. (SSU) reported net revenue grew 11 percent in the first quarter despite supply constraints in the full-bike category. Excluding full-bike sales, net revenue grew 15 percent.
Urban Outfitters’ Q4 Sales Jump 14 Percent On Two-Year Basis
Urban Outfitters Inc. reported total company net sales for the three months ended January 31, 2022, were a record $1.33 billion. Net sales increased 13.9 percent compared to the three months ended January 31, 2020.
Beachbody’s Revenues Slide 4 Percent In Q4
The Beachbody Company, Inc. reported fourth-quarter results exceeded guidance, marked by a 42 percent two-year growth in total digital and nutritional subscriptions and a 21 percent gain in total streams versus 2019.
