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June 23, 2023 Retailers Plan To Open More, Larger Stores This Year
With just a few exceptions, sporting goods retailers are planning to grow or at least maintain their store fleets this year, despite short term headwinds from inflation, rising interest rates, and economic uncertainty. Report: Lululemon Having Difficulty Offloading Mirror
The lulunatics have not had much success finding a buyer for their connected fitness white elephant, despite slashing the value by nearly 90%, according to the NY Post. Nike Slips in Global Brand Rankings
The Eager Beavertons fell eight places to rank 21st in Kantar Brandz 2023 list of most valuable global brands, pegged at $74,890 million, a 32% decline from last year. Designer Brands Raises Buyback Bid
DBI’s effort to buy back $100 million worth of its shares for between $7.00 and $8.00 per share wasn’t cutting the mustard now that it’s trading above $9.00, so it raised the modified “Dutch auction” tender offer to a range of $8.75 to $10.00. Under Armour Initiates Layoffs
Under Dog has decided to eliminate approximately 50 corporate roles across several functions, as part of its ongoing “PTH-3” restructuring plan initiated by new CEO, Stephanie Linnartz. LA Police Recover Stolen Nikes
The Los Angeles police recovered $7 million worth of Nike sneakers in a raid on a warehouse in Torrance, CA, KCAL News reported. Etcetera: Dick’s, Nike, Bass Pro, C&H Precision, Peak Ski, Templar Knife, Gymshark
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