RealReal’s CFO to Step Down
The RealReal announced that Robert Julian will step down as chief financial officer, effective January 31, 2024, or when the company finds his replacement.
Report: Vuori Exploring IPO
Vuori, the Southern California-inspired activewear brand, is talking to investment banks about a potential initial public offering by the middle of next year.
Fabletics Appoints VP Wholesale for Europe
Fabletics appointed Thomas Fröhlke as vice president wholesale for Europe. Previously, he was head of sales for four years at Hunter Boots.
SEC Charges Coleman’s Parent Co, Former CEO With Misleading Investors
The SEC on Friday charged Newell Brands and Michael Polk, its former CEO and current CEO of Implus, with misleading investors over financial accounting practices. The company and Polk agreed to a settlement with the SEC.
Lululemon Undergoes Layoffs Following Peloton Partnership
Lululemon confirmed that it laid off approximately 120 Lululemon Studio employees following the announcement that it partnered with Peloton and the related discontinuance of its Mirror device.
Dick’s SG To Open Store in Glen Carbon, IL
Dick’s Sporting Goods plans to open a new store at Orchard Town Center in n Glen Carbon, IL, in spring 2025.
Jack Wolfskin Appoints New CEO as Current CEO and GM Europe Plan to Leave
Richard Collier resigned as CEO of Jack Wolfskin and is leaving the company at the end of the year. Matthew Jung, GM of China, will take over as CEO globally in January 2024. Natascha el Mahmoud, GM Commercial Europe, is also leaving the company in early 2024.
Report: Adidas Appoints New Digital Chief
Scott Zalaznik, Adidas’ SVP of digital, is leaving the company, according to a report from Germany’s Manager Magazin. His successor is Tobias Seemann, who joins the company as SVP of global digital and e-commerce in October.
Kohl’s Names Director of Stores
Kohl’s hired retail veteran Fred Hand as senior EVP and director of stores, reporting to President and Chief Operating Officer Dave Alves. Hand will be part of Kohl’s senior executive leadership team and support the company’s strategic focus to drive store sales and productivity.
Outdoor Gear Exchange to Open Second Vermont Store
Outdoor Gear Exchange, which operates one store in Burlington, VT, plans to open a second in Essex Junction, VT.
EXEC: Nike Shares Surge as Meatier Q1 Margins, EPS Beat Offset Weaker NA Sales
The company’s CEO outlined a number of shortcomings that have created some recent challenges and laid out a future view that includes a more focused approach to performance running and delivering more compelling assortments, particularly when it comes to serving their women consumers, among other key areas.
EXEC: Wall Street Upbeat On Lululemon/Peloton Partnership
Analysts generally view Peloton and Lululemon’s new partnership positively but question how much growth it will drive for the companies.
Nike Misses Revenue Estimates on Weak North America; Profits Beat
Nike, Inc. reported profits slipped 1 percent in the fiscal first quarter ended August 31. Sales grew 2 percent on a currency-neutral basis as double-digit gains in China helped offset a 1 percent decline in North America. Earnings came in well above analyst targets but sales were slightly below.
Salomon Hires President of Salomon Americas
Salomon hired Steve Doolan as president of Salomon Americas, effective October 23, leading the business from its regional headquarters in Ogden, UT.
EXEC: ASOS plc Warns on Fiscal Year Cashflow Issue Due to Timing Effects
The retailer typically receives cash from their sales gross of returns and sales tax immediately. However, the cash outflow from sales tax, returns and variable costs associated with those sales predominantly impacts the following two months. The impact will reverse during September and October.
