JD Sports Acquires Hibbett
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Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.
Today, we take a look at JD Sports' new acquisition of Hibbett including reactions from footwear industry experts. Plus, Caleres released its 2023 ESG report and Rupert Sanderson has opened a new London store.
Here's what you need to know.
Why JD Sports’ Hibbett Acquisition Could Present Fresh Challenges for Foot Locker
JD Sports Fashion ’s announcement on Tuesday that it plans to acquire Hibbett in a deal valued at $1.1 billion could spark the latest power shift in the American athletic retail landscape.
According to Williams Trading analyst Sam Poser, the deal is a “good fit” as Hibbett‘s core urban fashion athletic customer is very similar to the core customers at JD’s DTLR and Shoe Palace banners.
“JD should also benefit from Hibbett’s e-commerce and omnichannel platforms,” Poser told FN. "Hibbett has one of the best, if not the best omnichannel operation, e-commerce platform, and mobile app within our coverage, and in the industry, according to many in the vendor community.”
But this new combined athletic retail force could spell bad news for competitors like Foot Locker. “JD will have increased leverage with its vendors after this acquisition, and continue to take share from Foot Locker,” Poser noted.
Caleres Says 93% of Owned Products Contain At Least One ‘Environmentally Preferred’ Material in New ESG Report
Caleres, Inc. is seeing progress towards its 2025 environmental, social, governance (ESG) goals, according to its new 2023 ESG report.
Released on Tuesday, the new report touches on the St. Louis-based footwear company’s notable ESG achievements over the last year including the launch of the One Planet Standard, a designation for its products that meet the company’s highest level of sustainability criteria measured across six lifecycle stages.
As for its 2025 ESG targets, Caleres noted in Tuesday’s report that it is reached 93 percent of its goal that all of its owned products contain at least one environmentally preferred material, like the use of algae infused foams in outsoles, footbeds, and EVA strobels; LWG Silver or Gold rated leathers; recycled polyester and more.
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In 2023, Caleres also reached 86 percent of its goal that all of its strategic factories comply with heightened labor standards including fair wage programs and social working standards.
Rupert Sanderson Has a New London Store, and High Hopes for the Future
It might be a challenging moment for luxury, retail and independent brands, but Rupert Sanderson is still making strides.
After nearly two decades in Mayfair, the footwear designer has moved his London store to a different part of town, and after years of owning and operating an Italian factory in Emilia-Romagna, he’s forged a deal with new partners near Milan.
The new store, at 61 Great Portland Street, spans more than 1,000 square feet and also serves as the brand’s headquarters, with retail on the ground floor, warehousing space for servicing online orders, a workshop in the back, and offices upstairs.
“I like the idea of being a destination business in an emerging area. Here, we’re in gallery land, and the store gives customers and clients more of a sense of who we are,” said the designer, adding that Mayfair had become an increasingly difficult location.
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Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
11 个月Thanks for the updates on, The FN Daily.
Marketing / Brand Management
11 个月All of these stores being owned the same companies of the competition is bad for the consumer. They need diversity when shopping. .
COO Aegis Living | Board Member | Private Equity Investor
11 个月Congrats John Hall and John Trice ??!