Speaking at the Stifel Cross Sector Insights Conference, Jim Swanson, CFO, Columbia Sportswear, said the company’s diversified business model, accelerated investments in digital in recent years, and the heightened appeal for outdoor products will help it manage the fallout from the pandemic. Diversification efforts start with...
Puma has initiated opposition proceedings in connection with Nike’s application to use the word “footware” for use on sneaker-specific software products and services, according to thefashionlaw.com. Puma’s June 16 opposition filing argues that “footware” is a “merely descriptive” term for technology-driven footwear designs and should not...
The 2nd edition of the COVID-19 Industry Impact Report from the Sports & Fitness Industry Association (SFIA) finds that while most sporting goods categories are seeing significantly decreased sales year-over-year, 56 percent of respondents reported sales growth from April to May 2020. Comparing May 2020 to...
Target will permanently raise its starting wage for U.S. employees to $15/hour effective July 5, 2020. The move was announced with a range of updates and extensions to its pay and benefits programs. The Company also announced it will give a one-time recognition bonus of...
The North Face and REI both said they would temporarily stop buying Facebook ads in solidarity with calls for a boycott from civil rights organizations. Facebook and CEO Mark Zuckerberg have come under fire for allowing racist content and disinformation to propagate on the site. On...
Rack Room Shoes announced it committed to a $1 million donation, $200,000 per year for five years, to use towards a diversity plan that includes scholarships, internship opportunities, mentoring programs, and other donations for education and economic development in the black community. The Company’s diversity plan...
Shoe Carnival, Inc. has re-opened all but one of its 390 stores across the U.S. and Puerto Rico following closures prompted by the COVID-19 pandemic. For the fiscal second quarter-to-date through June 22, the footwear retailer is reporting that it has experienced stronger than expected...
Fleet Feet has reopened 170 of its 184 stores in some capacity to strong initial results for many franchisees, according to a profile in Forbes. A decision to build a shared, central e-commerce site for all stores proved to be particularly beneficial as stores were...
Speaking at the 2020 Stifel Cross Sector Insights Conference, Steve Rendle, VF Corp.’s chairman, president and CEO, said moves beginning in 2017 to reposition the business are serving the company “very, very well to navigate these times.” But he also believes VF is well-positioned to...
Raymond James analyst Matthew McClintock raised his price target on Nike Inc. as the virus has heightened consumers’ desire to refocus on health and wellness. The upgrade also takes into account expected faster paybacks from its digital investments as well as a positive consumer response...