In The News: New Balance, Hibbett
New Balance has launched the $150 Fresh Foam X Lav V2 shoe with professional tennis player Danielle Collins as the face of the campaign. With a design inspired by the support found in New Balance basketball shoes, the Fresh Foam X Lav V2 offers stability for lateral movement across the court. It has a Fresh Foam midsole for underfoot cushioning and a FitWeave upper and mesh collar for a comfortable fit.
Hibbett Sports, which currently operates 1,071 Hibbett and City Gear specialty stores across 35 states, changed its official name to Hibbett, Inc. last week. In a statement, President and CEO Mike Longo said the new corporate name better reflects the retailer’s “consumer centric Toe-to-Head focus that leads with in-demand footwear and provides cross-category connectivity to our apparel and accessory offerings.”
U.S. Consumer Spending and Confidence are rising, according to government data. The U.S. Conference Board reported that its consumer confidence index rose to 127.3 in June from 120.0 in May. That uptick is forecast to continue throughout the summer and fall and fuel additional consumer spending. Meanwhile, May consumer spending was flat as U.S. consumers moved to in-person services and away from big-ticket products. The Commerce Dept. reported a 3.5 percent increase in recreation spending in May. Also worth noting, core prices rose 3.4 percent year-over-year in May at their highest pace since 1992.