KKR Is Exiting Academy Sports + Outdoors
A decade after acquiring the regional sporting goods chain Academy Sports + Outdoors in a leveraged buyout, affiliates of global investment firm KKR (Kohlberg Kravis Roberts & Co. L.P.) are selling their remaining 20 percent stake in the Katy, TX-based retailer.
U.S. Profits Soar for JD Group
The JD Group is thriving in the U.S. market. The publicly traded U.K.-based company’s U.S. footprint consists of JD Sports, Finish Line, Shoe Palace and DTLR Villa — 1,220 doors overall. Total U.S. revenues hit the equivalent of $1.89 billion for the period ended July 31.
Early Holiday Read: Shopping Early, Higher Prices, Digital Experiences
With omnichannel promotions forecast to be offered earlier than usual, the 2021 U.S. Holiday Season will likely be shaped by higher prices for key products, early shopping by consumers and broader digital experiences, according to Mastercard Spending Pulse.
Supply Chain Disruptions Slow U.S. Retail Container Imports
Global pandemic-related supply chain disruptions have slowed U.S. retail container imports to single digits from double-digits, according to the Global Port Tracker from the National Retail Federation/Hackett Associates.
Supply Chain Update: Impact of Vietnam’s Pandemic Escalation
Publicly traded Yuen Yuen Industrial Ltd. (YY), whose branded clients include Nike, Steve Madden, and Adidas among others in the athletic and casual footwear industries, issued an update on its Vietnamese production sites on Sep. 3.
Genesco Enhancing Omnichannel at Journeys
Genesco has begun introducing new point-of-sale hardware and software in some of Journeys’ 828 U.S. doors as part of its effort to digitize stores and enhance customers overall omnichannel shopping experience.
Famous Footwear Scores Record Gross Profit Margin
Famous Footwear, the Caleres-owned chain, generated a 671-basis-point increase improvement in its Q2 gross profit margin from its Q2/19 level to 50.1 percent on more full-price selling and a lower promotional environment.
Allbirds Files for IPO
The San Francisco parent of Allbirds, the six-year-old, global lifestyle brand filed its initial S-1 for a public offering of stock yesterday. After reporting a net loss of $25.9 million on nearly $219.3 million in revenues in FY20, Allbirds had a 27 percent increase in H1/21 revenues...
Athletic and Digital Surge in Q2 for DSW
Designer Brands reported that DSW’s year-over-year athletic comps increased 90 percent in the period to generate 23 percent of the banner’s quarterly revenues, up from 17 percent in Q2/19. The gains were made amidst a 10 percent drop in store traffic and a 21 percent increase in digital orders.
H2 Supply Chain Issues Could Derail Hibbett Sports’ Momentum
The retail operator of City Gear and Hibbett Sports’ banners faces H2 headwinds that may negatively impact its comp sales growth and gross margins for the period. Second half gross margins are forecast to dip from their H1/22 level due to likely higher freight and...