Arrive Recommerce Appoints Backcountry Vet as CTO
The company hired Alec Wilkins as chief technology officer. Wilkins was previously head of product and engineering at Backcountry and CPO/CTO at Overstock.com.
New Guards Group Appoints SVP/GM for Reebok Europe
The fashion group owned by Farfetch Limited hired Adidas veteran Markus Kleber as SVP/GM of Reebok Europe and Reebok Ltd. Farfetch recently announced it would not report Q3 results and canceled guidance.
Strava Appoints Former Nike Exec as CEO
The company hired Michael Martin as CEO, replacing outgoing CEO, Michael Horvath. Martin will also join the Strava Board upon assuming the role on January 2, 2024. Currently, Martin serves as the GM of YouTube Shopping.
CNBC/NRF: Strong Retail Sales Gain for First Half of Holiday Season
According to CNBC/NRF Retail Monitor, the holiday shopping season began with a strong start in November as retail sales with total retail sales, excluding automobiles and gas, up 0.77 percent seasonally adjusted month over month and up 4.24 percent unadjusted year-over-year.
Macy’s Receives $5.8 Billion Buyout Offer
An investor group consisting of Arkhouse Management and Brigade Capital made a $5.8 billion offer to take Macy’s private, according to the Wall Street Journal.
Gildan Activewear Names New CEO as Chamandy Exits
Gildan Activewear, Inc. President, CEO and Board Director Glenn J. Chamandy reportedly left the company, and Vince Tyra has been appointed president and CEO, effective February 12, 2024.
EXEC: Craft North America CEO Talks Gaining Traction in Run Footwear
In late November, Craft Sportswear announced plans for a phased relocation of its North American headquarters to Seattle, WA, in 2024 to bolster the brand’s expansion into outdoor and specialty retail and its recent entry into running footwear in the U.S. Craft North America CEO Eric Schenker talked with SGB Executive about Craft Sportswear’s heritage, the run footwear opportunity, and why the CEO has chosen not to move to Seattle.
Levi Strauss Moves Toward CEO Transition in 2024
CEO Chip Bergh announced his retire from the company effective April 26, 2024. Michelle Gass, company president, will succeed Bergh as president and CEO, effective January 29, 2024.
NRF: Imports Peaked in October, Volume Expected to Increase in 2024
Inbound cargo volume at the major container ports in the U.S. will continue to slow during the final weeks of 2023 after peaking later than expected in the fall, according to the Global Port Tracker* report released by the NRF and Hackett Associates.
NRF: Economy Delivers “Vigorous Growth” Despite Slowdown
According to the National Retail Federation’s Chief Economist Jack Kleinhenz, after a challenging year, the economy remains healthy despite slowing.
EXEC: Lululemon’s Tepid Holiday Guidance Overshadows Strong Q3
Lululemon Athletica, Inc. lifted its overall full-year outlook after earnings and sales in the third quarter ended October 29 topped guidance for the third straight quarter but also forecast fourth-quarter guidance that came in lighter than expected in an apparent sign to investors of a potential sales slowdown.
Delta Apparel Posts Wider Fiscal Q4 Loss as Sales Fall 21 Percent
Salt Life Group segment net sales were $12.5 million in Q4, compared to prior-year fourth quarter net sales of $14 million. Net sales in the Delta Group segment were $78.9 million in Q4, compared to $101.5 million in the prior-year fourth quarter.
Lululemon’s Q3 Earnings Dip On Charge Tied to Mirror Shutdown
Lululemon Athletica, Inc. reported earnings declined slightly due to a charge related to its move to discontinue its Mirror platform as part of a new partnership with Peloton. Excluding the charge, earnings and sales topped guidance for the third straight quarter and Lululemon again lifted its outlook for the year.
EXEC: Sports Direct Gets Fiscal H1 Boost from New Brands
Frasers Group reported retail revenue increased 4.0 percent in the first half ended October 29 to £2.69 billion ($3.4 bn), helped by a “strong underlying performance” from Sports Direct due in part to the addition of new brands, including On Running, The North Face, Columbia Sportswear and Salomon.
Tanger Acquires First Open-Air Lifestyle Center
Tanger acquired Bridge Street Town Centre in Huntsville, AL for $193.5 million using cash on hand and available liquidity. Management expects the center to deliver a first-year return in the mid-eight percent range, with potential for additional growth over time.
