In The News: Swiftwick, Nike, Cole Haan, Shoe Carnival, SCL Footwear Group
Swiftwick launched a limited edition sock this week in honor of healthcare workers. The Vision Medical Hero socks, featuring moisture-wicking and compression tech were available at the reduced price of $9.99 while supplies lasted on the brand’s website.
Nike acquired Datalogue, a five-year-old New York company focused on proprietary machine-learning technology for automating data preparation and integration, as it continues advancing its digital strategy focused on technology and ecommerce. Financial terms of the acquisition were not disclosed. Datalogue is expected to help the Swoosh integrate its global technology organization and assimilate data from all sources into the firm’s digital ecosystem.
Cole Haan sees credit rating agency Moody’s downgrade its various credit ratings with a negative outlook. The company experienced weak store traffic and wholesale orders during the first half of its fiscal year that resulted in negative results and an approximate 40 percent drop in revenues, Moody’s reported. But the credit firm’s assessment of Cole Haan also takes into consideration the company’s large athleisure assortment, strong execution prior to the COVID-19 outbreak and profitable, expanding digital business. Cole Haan is expected to continue focusing on the fashion casualization movement and ecommerce.
SCL Footwear Group, a New York-based focused on the licensed footwear segment, will launch Outdoor Life footwear in the U.S. and Canada after recently signing a licensing deal with Camden Media. The brand will be distributed in the mass, specialty, off-price and ecommerce channels starting this fall. SCL’s current portfolio of licensed brands includes Harborsides, Goodyear Footwear, Pro Player and Daisy Fuentes.
Shoe Carnival, scheduled to report FY20 full-year results on Mar. 24, says comparable store sales rose 6.4 percent in the year’s final quarter ended Jan. 30. Total fourth quarter sales increased 5.8 percent to $253.9 million.
Myanmar is likely to lose investment interest from apparel and footwear companies, experts surmise, following recent civil unrest in the country over alleged election fraud and a military coup. Apparel and footwear represent an estimated 41 percent of the country’s exports to the U.S. L.L. Bean, Adidas and retailer H&M are among the firms that source products there.
Kohl’s is adding Eddie Bauer outdoor outerwear and apparel to as many as 500 stores in Fall 2021 with a larger Bauer assortment for men, women and children available online. Next month, Kohl’s is also slated to debut its new private label FLX athleisure brand to customers. Both Eddie Bauer and FLX join the retailer’s broadening portfolio of national footwear and active apparel brands that already includes TOMS and Cole Haan.
Retail imports are projected to set new monthly rates into the summer as the U.S. continues recovering from the COVID-19 pandemic, according to the Global Port Tracker from the National Retail Federation and Hackett Associates. Many Asian factories, usually closed during the Chinese New Year, will remain open to keep up with order demands, the NRF/Hackett Associates said.