2.59%
Wednesday, June 5, 2019
Volume 2, Issue No. 10

In The News
Journeys, Spartan and CRAFT, Adidas, Google, JD Sports  

Spartan, the globe’s largest obstacle course race, and CRAFT Sportswear, have jointly created the Spartan RD Pro by Craft designed to specifically address and advance the needs of obstacle course race participants. Style is said to have superior drainage through its Hydrain technology and better grip via its OBSTA-Tech outsole. Available in men’s and women’s version, shoe ($140 MSRP) is now available for pre-order at Spartan.com. It will be available at Spartan events worldwide early this summer and at select retailers subsequently. (photo from SIX)

Genesco-owned Journeys Group generated a 7 percent comparable store sales gain in Q1, its eighth consecutive gain. Sales growth was spread across boots, branded and fashion sandals and athletic footwear. Current FY outlook calls for consolidated sales growth of -1 to +1 percent with consolidate comps (including direct) ranging from +1-2 percent. Square footage will decline for a third consecutive year as GCO shutters approximately 40 locations and opens approximately 30 new, primarily Journeys and Journeys Kidz stores. Meanwhile. Genesco intends to eventually sells the Indianapolis HQ of its Lids segment, which was sold to an affiliate of Ames Watson Capital for $100 million cash.

JD Sports Fashion, which acquired Finish Line for $558 million last June, exited 23 of the banner’s poorest-performing stores and 26 of its underperforming spaces inside Macy’s to end its fiscal year with 529 Finish Line doors and 349 shops in Macy’s stores. Five Finish Line stores — Chicago, Houston, Columbus, Washington, D.C. and Indianapolis — were changed to the JD banner with a sixth, at Minneapolis’ Mall of America, slated to open soon. For the 12 months ended Feb. 2, 2019, Finish Line generated the equivalent of $1.2 billion in sales.

Adidas will introduce adult and kids’ versions of a special UltraBOOST trainer featuring a Buzz Lightyear image and colors to coincide with the release of Toy Story 4. Adult version hits June 21; kids’ on July 11.

Google recently rebranded its Express Marketplace as Google Shopping, which now reportedly hosts 1,450 retailers versus 27 in early 2017 and generated approximately $1 billion in revenues last year. In its attempt to lure additional retailers to the platform, Google is touting its ability to reach consumers on numerous platforms (text, voice, video and image) while also providing a more seamless payment and checkout experience.