May 19, 2023 Foot Locker Cuts Guidance after Sales Drop Double Digits
Falling revenues and shrinking margins pushed net income 73% lower in the first quarter to $36 million from $133 million, as the top line tumbled 11% to $1,931 million from $2,178 million including a 9.1% drop in comp store sales. Adidas to Sell Some Yeezy Stock
The Big a said that it will begin selling some of the remaining Yeezy inventory at the end of May, with a significant amount of the proceeds being donated to select organizations that work to combat discrimination and hate. Lululemon Partners with Samsara Eco
LULU will take a minority stake in the Australian environmental technology startup, which aims to produce the world’s first infinitely recycled nylon 6.6 and polyester. Michelin Soles Expands in the U.S.
Italian-based JV International, the technical sole maker and worldwide licensee for Michelin Soles, is expanding its U.S. presence with the opening of a new office headquartered in VT, as it aims to strengthen its position by being closer to its local customers. Kelly Slater Launches Sustainable Footwear Company
The champion surfer and serial entrepreneur launched a new direct-to-consumer footwear brand, KLLY, with its first style the New Moon flip flop sandal available in the US and Canada. Etcetera: L.L. Bean, Rally House, Under Armour
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