Bob McGee

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There’s No Place Like Tradehome

For the last nine years of its 102-year existence, Tradehome Shoes has taken its unique story for both customers and employees to another level.

Designer Brands Forecasting Mid-Single Digit Sales Decline in FY23

Last week, DSW parent company Designer Brands detailed its outlook for the current fiscal year by suggesting a consumer purchasing pullback that commenced last October will continue through H1 followed by a “soft landing” in the back-to-school quarter.

On Expects Brand Momentum to Persist This Year

After completing its first full year as a public company in 2022, the Swiss company On is aiming to achieve currency-neutral sales growth of 42 percent in FY23 to the equivalent of $1.83 billion. The key areas of focus in On’s 14th year will be running, tennis and younger consumers.

Foot Locker Revitalizes Nike Partnership, Eyes $10 Billion Revenue Mark

Foot Locker’s annual investor day this week, presided over by its new President and CEO Mary Dillon for the first time, was a split decision.

Nike Promising Renewed Focus on Road Running

The Swoosh, perhaps irked by the recent success of smaller rivals in Hoka One One, Asics and On in the road running space, is vowing to put a renewed focus on the running category over the next 6 to 18 months.

Allbirds to Slow U.S. Retail Expansion, Expand Wholesale Biz

San Francisco-based brand Allbirds plans to slow the pace of its store openings and continue expanding its wholesale business. Other measures being undertaken as part of a transformation plan include shifting all footwear production to Vietnam by year’s end.

Adidas Commences “Transition Year” Under New Leadership

Bjorn Gulden, who crossed his German town from Puma SE headquarters to become CEO of Adidas on Jan. 1, isn’t afraid to offer an honest assessment of the challenges that he and his new brand face in 2023.

Famous Footwear Dialing into Millennials

Caleres-owned retail chain Famous Footwear, which generated 22 percent sales growth in FY22 to more than $1.32 billion despite closing 21 stores year-over-year, is sharpening its focus on reaching Millennial consumers.

Hibbett Sports Gets Boost from Footwear in Q4

The 1,133-door chain Hibbett Sports more than doubled its profits to $38.4 million from $17.7 million in the final period ended Dec. 31 as same store sales rose 14 percent and e-commerce revenues jumped 21 percent year-over-year. Sales were up 20 percent to $458.3 million from $383.3 million.

Dick’s Going All in on ‘House of Sport’ Concept

Dick’s Sporting Goods, the 75-year-old, full-line chain, which calls footwear, athletic apparel and team sports its priority categories, is making the ‘House of Sport’ experiential format its primary square footage growth driver going forward.

Wolverine Will Be ‘Nimble’ in 2023

After a challenging 2022 that included staff cuts, the divestiture of its Keds business and various challenges to its sourcing, logistics, and warehousing operations, Wolverine Worldwide is looking for improving cash flow and profit performance to improve sequentially throughout 2023.

Puma Forecasts a ‘Normalization’ of U.S. Market Conditions

Despite achieving record sales and operating profits in FY22, The Cat continues to deal with a myriad of issues, including geopolitical, macroeconomic, and global business uncertainty.

NPD: 2023 ‘Will Be a Reset Year for the Footwear Industry’

The NPD Group is forecasting annual U.S. footwear sales growth of 1 percent through 2025, with unit sales beginning to improve in 2024, as the pressure from average price increases eases in the footwear market.

Brooks Achieves Record Revenue in 2022

Brooks’ annual sales rose by 6 percent in 2022 to an implied $1.166 billion despite persistent supply chain obstacles within the running industry. In the U.S., the brand had the highest rating and ranking in the Running Dealer Report from the Running Industry Association.

Heydude Exceeding Expectations

Crocs CEO Andrew Rees told analysts last week that the company’s acquisition of the Heydude footwear brand nearly a year ago is “exceeding expectations” as it begins implementing a growth plan for the Heydude business...

Adidas Braces for a Tough 2023 After Difficult 2022

Preliminary unaudited 2022 results for Adidas show a 66 percent decline in annual operating profit to €669 million, or an estimated $715.3 million, pushing the operating margin down to 3.0 percent from 9.4 percent in 2021.

Asics’ FY22 Revenues Jumped 22 Percent but Operating Profit Fell

North American operating income for Asics declined to ¥26 million, or about $196,000, in 2022 due to higher costs associated with the region’s e-commerce sales.

Designer Brands Expands Portfolio with Keds Acquisition

The parent of the DSW chain continues to expand its own brands’ portfolio of casual and athleisure brands that already includes Topo Athletic and Le Tigre.

New CEO and Target Consumer for Under Armour

Under Armour, which will welcome new CEO Stephanie Linnartz on Feb. 27, is working to evolve its marketing and omnichannel strategies to better connect with 16- to 20-year-olds, many of whom are varsity athletes.

Hoka Stays Hot for Deckers

Third quarter global revenue for Hoka rose 91 percent year-over-year to $352 million, helped by an easy comparison, as Direct-To-Consumer sales more than doubled.

Skechers Continues to Eye $10 Billion in Annual Sales by 2026

Fourth quarter sales in the Americas for Skechers rose 22 percent year-over-year to $925.6 million, fueled by double-digit growth across all channels and improved inventory availability.

National Black Footwear Forum Returns in September

The Black Footwear Forum (BFF), which seeks to enhance access, education, and awareness to increase opportunities for Black professionals in the global footwear industry, is scheduled to take place at the Pensole Lewis College campus in Detroit from Sept. 15-17.

Nike Sues lululemon for Patent Infringement in Footwear

Lululemon, which launched its own footwear line in 2022, is being sued by Nike for patent infringement in four of its footwear styles.

5 Issues to Watch in the Year Ahead

After two years where business developments were dominated by impacts from a global pandemic — everything from supply chain costs to hiring and product availability — the world is faced with embracing the Year of the Rabbit with plenty of challenges.

Industry Vet Matt Powell Starts Own Firm

Sporting goods and retail industry consultant Matt Powell, who has been serving as a senior industry advisor at The NPD Group, is launching his own consulting and advisory service firm focused on merchandising, marketing and retail called Spurwink River.