SGB Executive Footwear

EXEC: REI Co-Op Sales Ticked Lower in 2023; Loss Widens

REI reported that three factors largely drove the loss: its commitment to continue investing in hourly employee pay, its commitment to providing a member reward and a $169 million non-cash valuation allowance against its deferred tax assets.

EXEC: Adidas Gets Another Yeezy Lift in Q1; Increases 2024 Guidance

Adidas now expects full-year 2024 currency-neutral revenues to increase at a mid- to high-single-digit rate in 2024, up from its previous forecast for a mid-single-digit increase. The latest Yeezy drop added revenues of around €150 million and an operating profit of around €50 million in the first quarter.

BRC: UK Retail Sales See Good Recovery in March, Outpacing U.S. Trends

The British Retail Consortium said UK total March retail sales increased 3.5 percent year-over-year in March, cycling growth of 5.1 percent in March 2023. This was said to exceed the 3-month average growth of 2.1 percent and the 12-month average growth of 2.9 percent.