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Crocs to Close up to 100 Stores, Open Retail Hub in Boston
Crocs, Inc. will kill SKUs, eliminate positions, close up to 100 stores and divest foreign subsidiaries as part of a new strategy that prioritizes profits over growth, the company announced Tuesday. Crocs also disclosed it will open a Global Commercial Center with 75 employees in the Boston area late this year that will house key merchandising, marketing and retail functions...(7/22/2014)
After Victory in the House, Fight for Fast Track Recalls Moves to Senate
The U.S. House voted 229 to 194 to approve an amendment that would stop the Consumer Products Safety Commission (CPSC) from essentially killing it highly popular and award winning Fast Track Program for voluntary product recalls...(7/20/2014)
Outdoor Retailers Finds Downtown Rooms for 300 More Retailers
Outdoor Retailer has secure downtown hotel rooms for 300 core retailers previously unable to book accommodations within walking distance of the Salt Palace Convention...(7/19/2014)
Bankrupt Tactical Holdings Seeks Quick Sale of Massif Mountain Gear and Military Footwear Businesses
Tactical Holdings Operations Inc. has filed a petition for a Chapter 11 bankruptcy and is seeking a quick sale of its businesses, including Massif Mountain Gear, which makes fire-resistant outdoor apparel for fire-rescue workers, the military and industrial markets. Tactical’s other holdings include Altama Delta Corp., Mo-Ka Shoe Corp. and Wellco Enterprises, which manufacture and market Berry Amendment-compliant footwear for the U.S. Army...(7/18/2014)
EBay Enterprise Comps Up 14 Percent in Second Quarter
EBay reported new stores and 14 percent comps growth drove up gross merchandise sales (GMV) at its Enterprise segment 15 percent to $940 million in the second quarter ended June 30, 2014. The segment runs e-commerce operations or four of North America's largest sporting goods retailers and six pro sports leagues...(7/18/2014)
VF’s Sports Brands’ Momentum Continues in Q2
VF Corp. reported better-than-expected quarterly profit as its Outdoor & Action Sports coalition racked up its third-straight quarter of double-digit growth. Sales in its Outdoor & Action Sports coalition rose 15.9 percent. The North Face was up 11 percent; Vans jumped 21 percent; and Timberland climbed 19 percent. On a conference call with analysts, Eric Wiseman, VF’s chairman, president and CEO, said the 8 percent top-line gain in the quarter was right in line with the organic growth...(7/18/2014)
Container Imports Surged in June at SoCal Ports
Container imports through the ports of Long Beach and Los Angeles spiked in June compared to the same month last year, indicating that retailers and other importers moved up deliveries to mitigate the risks posed by ongoing labor negotiations...(7/17/2014)
Wolverine to Drop Patagonia And Shutter 140 Stores To Accelerate Growth in Wake of Record Q2
Despite reporting record results for the fiscal second quarter ended June 14, Wolverine Worldwide Inc. will stop shipping Patagonia footwear after this fall and close 140 retail locations in the next 18 months. The company plans to reinvest the savings into realigning its direct-to-consumer businesses to adapt to consumer omni-channel shopping habits...(7/15/2014)