Daily News Feed 04/19/2024 Retailers Plan To Ramp Up New Store Openings This Year
While total net new store openings are expected to grow at a robust pace in 2024, many retailers are taking a more conservative posture, reining in expansion in the face of high interest rates and uncertainty about future consumer demand. Caleres Upgraded by S&P Global
The ratings agency raised CAL’s issuer credit rating to BB from BB- due to the retailer reducing its adjusted debt-to-EBIDTA toward the high 1x area, supported by improved margins and continued paydown of its asset-based lending facility. Vail Resorts Reports Season’s Ski Metrics
Vail said unfavorable weather across its North American resorts translated into an 8% decline in total skier visits at MTN’s mountain resorts, while retail/rental revenue in N.A. locations was down 7%. Nike Layoffs Will Hit Headquarters Hard
Of the 2% reduction in its workforce announced in Feb., about half, or 740 employees will be laid off from the Beaverton, OR, world headquarters, according to a WARN notice filed with the state. Etcetera: WHP Global, Umpqua, Big Agnes, Oofos
04/18/2024 Stella Int’l Rebounds in Q1
Revenues at the high-end sneaker maker grew 18% to $338.4 million to start the year, up from $284.6 million in Q1, 2023, lapping a 26% decline last year. Xtep Reports Strong Growth in Q1
The Chinese sportswear brand said its retail sell-through was up high-single digits, including both e-commerce and in-store sales, in the first quarter of 2024 after a solid Q4.
After seven years of ownership, Birch Hill Equity Partners is looking to unload CCM at a “significant multiple” to its $79 million purchase price, according to the Globe & Mail. Report: Nike Nearing Eight Figure Deal with Caitlin Clark
The number one WNBA draft pick is about to trade in her lucrative NIL deal with the Eager Beavertons for an even more lucrative endorsement contract that includes her own signature shoe, The Athletic first reported.
The Outdoor Industry Association weighed in with support for the GSP Reform Act, noting the industry has paid out about $1.7 billion in additional tariffs since GSP’s 2020 expiration along with facing stymied job growth and increasingly complicated supply chains.
The guiding hand behind Escalade’s move from pure-play archery supplier to multi-brand industry force, passed away March 22 at age 89. Brixton Names Seth Ellison as CEO
Brixton, which is backed by Altamont Capital Partners, appointed the 40-plus year lifestyle apparel and action sports veteran as CEO, effective Apr. 22. Eagle Claw Fishing Scion Named Chairman
Eagle Claw Fishing has elevated Drew McGill from vice chairman of the board of directors to chairman, succeeding Lee McGill, and becoming the fourth McGill to lead the fishing tackle maker. CPSC Recalls: Cranksets, Fuel Bottles, Helmets
Full Speed Ahead is recalling about 12,550 Gossamer Pro AGX+ cranksets, model CK-6037, because the crank arms can loosen and/or detach from the crank/spindle.
04/17/2024 GSP Reform Leaves China Out
The biggest overhaul to the Generalized System of Preferences since its introduction in 1974 has been referred to the House Ways and Means Committee, with the new bill looking to update rule of origin and competitive needs limitations to foster supply chain moves out of China, along with permanently banning that country from the program. Anta Sports Sees Momentum Continue in Q1
The Chinese sportswear giant, who has benefited from the PRC’s recovery and favorable government policy in the broader retail market following the end of Zero-Covid, said its first quarter revenue from the core Anta brand was up mid-single digits. Report: Adidas Bidding for Jamaica Athletics
The Three Stripes is making a move to take over Puma’s long-running sponsorship of the Jamaica Athletics Administrative Association when it expires later this year, according to reporting by the Jamaica Observer. Deckers Hunts Copycats in Three New Suits
DECK filed three separate suits in central CA federal court accusing Fashmode Ltd, Steven Madden, and Pinkcoboutique of infringing on its Ugg-brand trade dress and mark with various shoes. Skechers Sues over Shoe Design
SKX filed suit in CA district court against American Exchange Apparel Group (dba American Exchange Group) for copying nine patents related to its shoe upper designs.
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