Bob McGee

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Hoka Takes ‘Moving Together’ Ethos to More Consumers Worldwide

Deckers Brands-owned Hoka, which reported a 27 percent Q2 sales increase to $427.5 million, continues to benefit from shifting a greater proportion of its revenue mix to the Direct-To-Consumer channel.

Crocs Working to Terminate “Gray Market” Selling of Heydude Styles

Crocs Inc. generated more than $1 billion in Q2 revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance to surpass the $4 billion mark, but its share price plummeted more than 14 percent on July 27.

Skechers Sees Sales Momentum Pendulum Swing Toward International in Q2

A difficult year-over-year comparison and industrywide footwear inventory issues plagued Skechers’ Q2 results in the Americas where wholesale revenues fell 19 percent, but the company was still able to achieve more than $2 billion in revenues and...

Beverage Mogul Takes Majority Stake in Nobull

Impact Capital, the private equity arm of billionaire Mike Repole, last week acquired an unspecified majority stake in Nobull, a training footwear and apparel brand co-founded by ex-Reebok executives Marcus Wilson and Michael Schaffer in 2015.

Converse’s FY23 D-T-C Sales Rose 5 Percent

Parent company Nike provided details about Converse’s annual results for the 12 months ended May 31 in its annual report that filed last week. Fiscal year revenues for the All-Star brand rose by 3 percent to nearly $2.43 billion with footwear accounting for nearly 89 percent of the total.

Performance Footwear, Fueled by Running, Gains in Q2

Overall sales of U.S. footwear declined 5 percent to $10.3 billion in Q2, according to Circana, but the performance segment posted a 5 percent increase to $1.9 billion with running shoes responsible for 40 percent of its growth.

How Perfectionists See It

Footwear Insight, in its quest to get the lowdown on the current state of the retail footwear industry, reached out to some of the best seeking answers.

Nike Takes Legal Fight to Online Counterfeiters

Nike is attempting to combat e-commerce sellers on global platforms who continue to sell unauthorized and unlicensed Swoosh merchandise using counterfeit and infringing versions of the company’s federally registered trademarks.

Footwear Imports to Plunge Despite Higher Consumer Spending

The percentage increase of U.S. footwear imports is likely to plummet into negative territory this year to below 2.0 billion pairs after nearly 30 percent growth in 2022 to nearly 2.75 billion pairs, according to data from the U.S.

Crocs Sues Rival, Former Employee for Stealing Trade Secrets

In a 29-page complaint filed in federal court in Denver on July 6, Crocs alleges that defendants Joybees LLC and Kellen McCarvel, a former mid-level manager for Crocs, stole thousands of documents containing “highly confidential and proprietary” business information from the company.

DSW Names New President

Laura Denk, most recently chief merchandising officer for Michaels Stores, Inc., has been named president of DSW Designer Shoe Warehouse (DSW) and Executive Vice President of Designer Brands. Her appointment is effective July 24.

Nike’s Annual Revenues Exceed $51.2 Billion

Nike grew its global annual sales by 10 percent to $51.2 billion for the fiscal year ended May 31 but realized a 16 percent drop in net income to $5.07 billion.

Authentic Brands Group Emerges as “Stalking Horse” for Rockport

Affiliates of Authentic Brands Group, ABG-Regatta LLC and ABG Intermediate Holdings, have emerged as the “stalking horse” bidder for The Rockport Co, agreeing to pay $40.4 million for the bankrupt firm’s intellectual property...

Back-to-School Sales Tax Holidays Commence in July

Sixteen states have established sales tax holidays this summer with most offering their residents no taxes on school supplies, apparel, and footwear. Most of the tax holidays are in August, according to data from the Federation of Tax Administrators.

Bankrupt Rockport Aims to Sell as ‘Going Concern’

Rockport, which last week filed for Chap. 11 bankruptcy protection for the second time in five years, is negotiating with a “stalking horse” bidder with the hopes of entering an asset purchase agreement in the near-term.

VF Corp. Taps Bracken Darrell as New President, CEO

VF Corp. has a new president and CEO. Bracken Darrell, president, and CEO of Logitech Intl. S.A. for the past decade, will take the helm of The North Face and Vans parent on July 17 from Director Benno Dorer, who has served as the interim president and CEO since December.

Key Findings from Latest World Footwear Survey

Global footwear consumption is forecast to increase by 7.8 percent or 1.6 billion pairs in 2023, according to respondents to the 1st Semester 2023 World Footwear Business Conditions Survey from the Portuguese Footwear, Components and Leather Goods Manufacturers’ Association.

DSW Strengthening Own Brand Portfolio & Bringing Nike Back

The Designer Brands-owned retailer DSW, despite experiencing a difficult Q1, was able to grow its own brands penetration to 27 percent of all revenues.

Obituary: Stanley Kravetz

Stanley Kravetz, a fixture in the footwear industry for many decades, passed away on June 8. He was 90.

Dr. Martens Slips on Weak Operational Execution

Annual results for the iconic British brand Dr. Martens were held back in its most recent fiscal year ended March 31 due to a weak performance in the U.S. that was fueled by “poor operational execution,” the company said in a statement.

Famous Footwear Struggles on Soft Demand; Vionic Has New Brand Direction

Total sales at the Caleres-owned chain Famous Footwear fell by 9.2 percent to $349.2 million from $384.5 million for the three months ended April 29. Comparable store sales fell 8.5 percent and operating income from the 866-door business sank 66 percent to $17.1 million.

Hoka Targets $2 Billion in Revenues; Broader International Awareness

After achieving $1.4 billion in annual sales for the fiscal year ended March 31, Deckers-owned Hoka sees more opportunity in the U.S. run specialty, Direct-To-Consumer, and international markets.

VF Corp. Braces for Difficult Q1 as Wholesalers “Right Size” Inventory Levels

Coming off a fiscal year where total reported revenues declined by 2 percent to $11.6 billion, VF Corp. is forecasting a tough year-over-year comparison for the three months ending June 30 as the company’s wholesale accounts “right size” their respective inventories.

Nike Makes Executive Suite Changes

Senior leadership changes at Nike, announced May 24, include shifting Heidi O’Neill to president of consumer, product, and brand from president of consumer and marketplace...

Genesco Taking Steps to Re-invigorate Journeys

With Q1 sales and traffic lagging in the fashion footwear chain, the Nashville-based parent of Journeys is taking numerous actions that it hopes will jumpstart the business in the months ahead.