Nike Apparel Is Coming Back to Macy’s

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

In today's news, Nike reinstates it Macy's apparel partnership, Caleres reports earnings for Q1 and REI launches a new trail runner.

Here's what you need to know:

Nike Apparel Will Return to Macy’s Stores Following a Halt in 2021

Macy’s CEO Jeff Gennette said in a call with analysts on Thursday that Nike apparel will return to Macy’s stores and websites in October. Nike wound down its apparel partnership with Macy’s in December 2021 as it narrowed in on its own DTC channels and?cut off multiple wholesale partners.

“We’re committing to a long-term partnership together,” Gennette said in a call with analysts. “It’s one of the most important brands for our customer. We had lots of customers that were disappointed that we didn’t carry it over the past year.”

Zoom out: The renewed partnership comes as Nike slowly returns to certain?wholesale?partnerships (including Foot Locker) after a sudden exit in 2021.

Caleres Beats Q1 Estimates Despite Overall Sales Decline

Caleres?surpassed analyst expectations for Q1 despite an overall sales decline.

Net earnings in the quarter were $34.7 million, or earnings per diluted share of $0.97, compared to net earnings of $50.5 million, or earnings per diluted share of $1.32 in the first quarter of 2022. The company beat analyst estimates for the quarter.

The St. Louis-based parent company to?Famous Footwear, Allen Edmonds, Sam Edelman and more brands reported that overall sales in the first quarter fell 9.8 percent to $662.7 million compared to the same time last year.

Jay Schmidt, president and CEO of Caleres, said in a statement that Caleres delivered a “solid financial performance” at the upper end of its earnings per share guidance driven by record quarterly profit from the Brand Portfolio, despite a challenging operating environment at Famous Footwear.

REI Co-op Expands Its Footwear Range With a New Trail Runner

REI Co-op?delivered?its debut footwear range in 2021, and the outdoor retail giant will soon expand its offering to include?trail running.

The retailer’s?entry into the running shoe category is the Swiftland Multiterrain (MT) trail runner. REI said the shoe “maximizes recycled and bio-based materials without compromising technical expectations while giving runners freedom to take their adventures over multiple surfaces beyond the pavement.”

The major components of the Swiftland MT, according to REI, were designed with “carbon-reduced technology” and feature either recycled or bio-based materials. The REI Co-op Swiftland MT trail running shoe is available now?in-stores and via REI.com?for?$130 in?men’s and women’s sizing.

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