CFA, WELLS FARGO: Invitation to next "Crystal Ball" breakfast session, "Private Label vs Branded Manufacturing."
STOKES ME: SIMA Humanitarian Fund campaign kicks off this week with "Add-A-Buck" promotions in 76 core-store doors.
Details on Industry Insight.
I've received several emails about Sole Tech layoffs this week, so I checked with company spokeswoman Brenda Springer.
She confirmed the layoffs, but did not provide the number of positions that were eliminated.
Here is what Brenda said about the job cuts:
"As you know, when retailers face setbacks in their business, we feel the impact. Restructuring is never a fun topic; in fact, it's not a topic we even want to discuss because it is pretty painful to go through.
"We did experience layoffs. What's important for people to know is that compared to other players in the industry, we're actually faring well and the restructuring that took place today did not carry the same weight that we've seen recently from others action sports companies.
"The benefit of working for Sole Technology is that it is privately owned and does not have to meet the aggressive demands of shareholders. (Owner) Pierre (Senizergues) is a businessman who is focused on cultivating a sustainable business. He has invested wisely and has planned for the long term - Sole Technology remains steady and stable.
"Retailers are challenged and our focus right now is trying to get out there and support them as best as we can. We have some exciting products hitting the market, we have some amazing riders on board who are bringing energy to our brands and elevating skateboarding - we're staying positive despite some of the tough decisions the industry has had to face as of late."
Airfare.com - Flights, hotels and more!