EXEC: Ahead, Craft, Cutter & Buck Parent Posts Sales and Profit Declines in Q4
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson AB, reported that fourth quarter net sales declined 3 percent to SEK 2,735.9 million from SEK 2,815.1 million in Q4 last year.
Costco Comps Grow 3.4 Percent in January ex-Fuel
Net sales were $22.08 billion for the retail month of January, the five weeks ended February 4, 2024, an increase of 4.5 percent from $21.13 billion in January last year.
Skechers Board of Directors Wins Case in Shareholder Derivative Suit
The Delaware Chancery Court Dismissed with prejudice the complaint against all named current and former Skechers Board of Directors named as defendants in the action.
EXEC: VF Sees The North Face Fiscal Q3 Results “Worse Than Expectations”
Global revenue for The North Face was down 10 percent (-11 percent CC) to $1.19 billion in the quarter. Excluding a wholesale shipment timing shift, The North Face’s revenue would have reportedly declined in the mid-single-digits. DTC was up in mid-single-digits for Q3.
EXEC: VF Execs Outline Progress Against Transformation Plan, Brand and Region Review
The big jobs ahead are based on fixing the overall Americas business and delivering a turnaround in the Vans business. The key objective of the Reinvent program involves cutting costs and building the balance, which is reportedly both well underway.
Outdoor & Sports Company Appoints Managing Director for North America
Bill Supple joined OSC in a consulting capacity as director of brand and business development for Mountain Equipment in the U.S. in 2019.
EXEC: Vans Falls 29 Percent in Q3; Inventory Down as Brand Helps Create OTB
VF execs talked about refreshing the Vans brand product at retail and revealed that they were removing slow-moving inventory from retailers to create open-to-buy for stronger product that was moving in the market. Inventory was down 30 percent at quarter-end.
Mark Wahlberg x Club Sports Group Opening New F45 Training Studios in Boston
Club Sports Group, operator of three F45 Training studios in Boston, entered into an exclusive partnership with Mark Wahlberg to open multiple new studios across Greater Boston.
VF Corporation CFO Stepping Down After 23-Year Run with Company
CFO Matt Puckett will be stepping down later this year. He will stay on until a new CFO is appointed to help ensure a smooth transition.
Rally House Begins 2024 Expansion in Fort Worth
Rally House’s 2024 expansion begins in Fort Worth, TX, with the new store opening of Rally House Montgomery Plaza.
VF Corp. Sees Q3 Business Decline Accelerate; Will Conduct Strategic Review of Brands
The 16 percent year-over-year decline was an acceleration of the decline in the business, which was down just 2 percent in the fiscal second quarter when new CEO Bracken Darrell sounded the alarm that all was not well in the business.
Tactics Opening First Location Outside of Oregon
The Oregon-based skateboarding and snowboarding specialty retailer is adding a new store in the Ballard neighborhood of Seattle, WA. The opening is planned for early summer 2024.
Nordstrom to Open 18th Rack Store in Illinois in Spring 2025
The 25,000-square-foot store will be located in Randall Square, adding to the four Nordstrom stores and 17 Nordstrom Rack stores in Illinois at press time.
Amer Sports Company Launches New Senior Secured Notes Offering
The net proceeds from the offering of the Notes and the expected net proceeds from the New Senior Secured Credit Facilities are expected to repay all outstanding indebtedness under the company’s existing credit facilities, which will be terminated.
Costco Wholesale Appoints New CFO as Galanti Moves to Advisory Role
The Costco Board of Directors named Gary Millerchip EVP and CFO, effective March 15. He is the SVP and CFO at The Kroger Co. Galanti will remain with Costco through January 2025 in an advisory role and will continue on the Board of Directors.