Lids is the second-largest of Nashville, Tennessee-based Genesco’s holdings, bringing in about a quarter of the company’s total revenue, but the retailer has been struggling.
Parent company Genesco started trying to sell the Zionsville-based division 10 months ago, but no deal has been struck. Meanwhile Lids' long-running decline has continued.
Pattern89, formerly known as Quantifi, intends to use the latest round of funding to expand its marketing efforts, scale its platform, and grow its data science, sales, and marketing teams.
Some analysts say the logical buyer for Zionsville-based Lids Sports Group is Fanatics Inc., an online-only rival that has been on a tear while Lids has struggled.
Genesco’s stock price fell by 20 percent Friday morning after Zionsville-based Lids Sports Group reported a 9.5 percent drop in sales, prompting the parent company to reduce its full-year outlook.
Zionsville-based Lids Sports Group posted disappointing sales in its second quarter, mirroring recent results from other athletic apparel retailers. Its parent company is trying to dampen expectations for the overall firm.
CEO David Baxter, who was hired in May 2016, is aiming to marry the best of online retailing with brick-and-mortar stores, to lift the company’s profit margin to where it was five years ago.
Three major Indianapolis-based retailers struggling with declining sales replaced their CEOs this year as they tried to improve company financials.
Shares in Genesco Inc.—parent of Zionsville-based Lids Sports Group—dropped almost 30 percent Thursday after the company reported lower-than-expected sales in the second quarter and downgraded its full-year outlook.
David Baxter has been named president and CEO at Zionsville-based Lids Sports Group, succeeding former president Kenneth Kocher, who resigned in February after more than 10 years in the position.
The Zionsville-based retailer continued to grow but saw profit plummet after it moved beyond its core business of selling sports caps.
A local charity which uses bicycles to promote health and fitness in central Indiana schools is pursuing a $125,000 Lids Foundation award. The public can vote for one of five finalists.
Zionsville-based hat retailer Lids Sports Group is seeking a new leader after the resignation of Kenneth Kocher, who ran the company for more than a decade.
Scott Molander, who launched the chain as Hat World with a single store in Tippecanoe Mall in Lafayette in 1995, is joining the Tennessee-based company that's buying Lids' sports-uniform business.
MainGate Inc. has been hired to design, manufacture and sell a wide range of merchandise through wholesale and Internet channels for Kobe Inc.
Lids Sports Group is promising a better layout and more Colts merchandise in Lucas Oil Stadium store while working to open at least one more mall-based outlet.
A universal digital inventory system that links customers to goods in more than a thousand Lids Sports Group stores helped the firm wrestle the Indianapolis Colts business away from locally based MainGate Inc., a national player in its own right.
Lids replaces Indianapolis-based MainGate Inc., which has been with the team since it moved into Lucas Oil Stadium. The Colts store at Circle Centre mall has closed, but at least one new store is in the works.
Sales for Indianapolis-based Lids Sports Group have been so disappointing that parent Genesco Inc. within the past six months has twice cut its fiscal 2015 full-year earnings, from a high of $5.55 per share to a low of $4.75 per share.
The deal to move the retailer’s corporate center from Marion to Boone counties dates back to May, when town officials closed on a $3 million land deal that they hoped would attract new development.
