Contrary to popular belief, bookstore chain Barnes & Noble isn’t just surviving in the age of Amazon — it’s thriving, with 30 new stores planned for next year.
FINANCE
Nike (USA) reported Q2 revenue rose 17% to $13.32 billion, beating analysts’ expectations. Net income fell 0.7% of $1.33 billion.
- Direct sales increased 16% for the quarter, to $5.4 billion. Digital sales rose 25%.
- Inventories were up 43% year-on-year.
Skechers (USA) reports Q3 sales rose 20.5% to $1.88 billion. Direct-to-Consumer sales rose 11.9%.
David Jones (Australia) has been bought by a private equity firm Anchorage Capital Partners from South African-based Woolworths Holdings Limited. The details of the sale were not disclosed.
VF Corp (USA) is said to be considering a sale of its Jansport backpack business, according to Bloomberg. A deal could value Jansport at about $500 million.
Designer Brands (USA) has acquired footwear brand Topo Athletics for an undisclosed amount.
- Topo’s founder and CEO, Tony Post, will remain with the Company as CEO of Topo
PODCAST
Positioning Your Company for Success – Regardless of the Competition
Companies have always focused on growth, but now there’s increasing pressure to drive profitability.
Typically this means cutting costs. However in a highly competitive market that will no longer work. Businesses are going to have to ‘invest their way to success’.
In this podcast, Tim Redmond, CEO of Redmond Growth Consulting, shares insights learned from his previous experience with PriceWaterhouseCooper, as well as growing a software company from 2-400 employees and then selling it to Intuit
You’ll Learn:
- Some of the costly mistakes that businesses are making and what they should be doing instead.
- How to supercharge creativity to find innovative solutions and ideas.
- What successful team leaders get right that mediocre ones overlook.
RETAIL
SSI Group, the Philippines’ largest retailer of both luxury brands like Hermes and fast-fashion labels such as Zara, said it is poised for record sales and profit this year, as shopping-starved Filipinos splashed out on fashion when the economy reopened from pandemic restrictions.
In the U.S. 73% of consumers – 189 million people – shopped on Super Saturday, which fell on Dec. 17 this year, with 70% shopping in a physical store, according to a survey from ICSC. This exceeds an earlier forecast from the National Retail Federation, which expected 158 million consumers would shop on Super Saturday this year.
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