Vida Shoes International, a licensee of fashion footwear brands, said it made the difficult decision to streamline teams throughout its operation with layoffs and temporary salary reductions. The announcement comes on the heels of COVID-19 as companies across industries are facing cost-cutting measures. Solomon Dabah, Vida...
The Conference Board Consumer Confidence Index held steady in May, following a sharp decline in April. The Index now stands at 86.6 (1985=100), up from 85.7 in April. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – declined...
Asics Corp. announced that its investment subsidiary, Asics Ventures Corporation, has invested in Seevix Material Sciences Ltd., which was founded in 2014 following over a decade of academic research at the Hebrew University. Seevix produces patented man-made Spidersilk, SVX, possessing natural Spidersilk’s strength and elasticity. SVX...
Columbia Sportswear Co. will reopen 30 Columbia branded stores in ten states on Friday, May 15, 2020, bringing back more than 250 of its furloughed retail workers. All stores will prioritize a safe environment for customers and employees. Among steps being taken are requiring face coverings...
J.C. Penney, which filed for bankruptcy protection on Friday, plans to close 242, or 29 percent, of its 846 stores over the next two years, according to a filing with the Securities and Exchanges Commission. For the current fiscal year, 192 stores are expected to close...
Target Corp. reported first-quarter comparable sales grew 10.8 percent, driven by a 12.5 percent increase in the average basket, as guests made fewer, bigger shopping trips. Store comparable sales increased 0.9 percent. Digital comparable sales grew 141 percent. Profits slumped 64 percent due to incremental...
After careful consideration and with guidance from health authorities and industry stakeholders, the PGA Fashion & Demo Experience, originally scheduled for August 18-19, 2020, at the Venetian Resort Las Vegas, will instead facilitate business connections through a series of digital programs starting in June with...
Hoka One One and On Running ran counter to the market by generating gains in April despite sharp declines overall due to store closures in response to the pandemic, according to The NPD Group. Total Footwear Industry Trend Total footwear U.S. sales for April totaled $1.2 billion,...
The Conservation Alliance has awarded five grants from the organization’s Public Lands Defense Fund to groups working to defend the Roadless Rule, the National Environmental Policy Act, and Cascade Siskiyou National Monument. The awards were funded with the support of Velocio, Patagonia and The North...
VF Corp., The VF Foundation, and the VF family of brands have donated more than $10.3 million in funds, products and services worldwide to stem urgent medical needs and help those struggling to cope in the face of the Coronavirus pandemic. “Through the efforts of our...