Wolverine Transforming Saucony and Merrell Model in China; Sells Asia Leathers Business
Wolverine World Wide, Inc. said it plans to shift its Merrell and Saucony businesses in China from a joint venture model with with Xtep to a license and distribution rights model. It also agreed it sell its Asia-based Wolverine Leathers business. Both actions are expected to simplify Wolvderine’s business model and generate $70 million in proceeds.
Report: Sycamore Partners Exploring Bid For Macy’s
Private equity firm Sycamore Partners is reportedly eyeing making a bid for Macy’s, Inc., according WWD. The speculation comes after the Wall Street Journal, on December 12, reported that Arkhouse Management and Brigade Capital Management made a $21 a share, or $5.8 billion, offer for the department store chain.
Yeezy Hires Head of Design
Kanye West’s fashion brand Yeezy hired Russian designer and former Adidas collaborator Gosha Rubchinskiy as head of design.
Paris Saint-Germain, Lids and Fanatics Open New Store in Toronto
The Paris Saint-Germain (PSG) opened a new club store in partnership with Lids and Fanatics at 399 Queen Street West in Toronto.
Paka launches Pakacloud, Alpaca Fiber Fleece Alternative
Paka, the Alpaca apparel manufacturer based in Peru, launched Pakacloud, an alpaca-based fleece.
Adidas AG Appoints HR Chief to Supervisory Board
The Supervisory Board of Adidas AG has appointed Michelle Robertson as an Executive Board member, responsible for global human resources, people and culture, effective January 1, 2024.
Association of Golf Merchandisers Honors Top 100 Golf Shops
The Association of Golf Merchandisers (AGM) announced the 2024 AGM Platinum Awards winners, recognizing the Top 100 golf shops.
Costco’s Q1 Profits Top Targets
Costco reported earnings rose 16.5 percent in its fiscal first quarter ended November 26 as same-store sales rose 3.8 percent, including a 2.0 percent gain in the U.S. Earnings topped analyst expectations.
HanesBrands Appoints Former Walmart U.S. CEO as Chairman
HanesBrands announced that its Board of Directors had appointed William Simon as chairman of the board, effective December 31. His appointment follows Ronald Nelson’s decision to retire as chairman and a member of the Board at the end of the year.
Gildan Board Hit With Strong Shareholder Blowback After CEO Ouster
Two large Gildan investors are pressing the company’s Board of Directors to reverse its decision to terminate company Founder and former CEO, Glenn Chamandy and reappoint him as CEO of the company.
November Sales Show Small Gain, Tops Expectations
The Commerce Department reported that retail sales rose 0.3 percent in November over the prior month, stronger than the 0.2 percent decline in October and better than the Dow Jones estimate for a decrease of 0.1 percent.
EXEC: Foot Locker Earns Upgrade On Turnaround Prospects
Shares of Foot Locker rose 10.1 percent Thursday after Piper Sandler & Co. upgraded Foot Locker from “Neutral” to “Overweight.” Piper analyst Abbie Zvejnieks believes the sneaker retailer’s turnaround potential compares favorably to other turnaround stories in the active lifestyle space, including Allbirds, Under Armour, VF Corp., and Wolverine Worldwide.
Nordstrom Rack to Open in Noblesville, IN in Fall 2024
The 25,000-square-foot store, located in Hamilton Town Center, which includes Ulta, Ross, Dick’s Sporting Goods, and Total Wine, is owned and managed by Simon Property Group.
Survey: 142 Million Shoppers Expected for Super Saturday
According to the National Retail Federation, the number of expected shoppers is up significantly from the last time Super Saturday fell on December 23, when 126 million consumers were expected to shop on that day in 2017.
Rossignol Opens Brand Store in the French Alps
The new store in Courchevel, a summer and winter vacation destination in the French Alps, sells its full range of apparel and winter sports equipment.
