Reports: Retail Ecommerce Ventures Exploring Bankruptcy
Retail Ecommerce Ventures, LLC (REV), a capital marketing company founded in 2019 and that acquired the intellectual property of Modell’s Sporting Goods, Pier 1 Imports, RadioShack, and other retail banners, hired Kirkland and Ellis to explore restructuring options, including a bankruptcy.
Nordstrom Adds Former Nike COO To Board
Nordstrom, Inc. appointed Eric Sprunk, former chief operating officer of Nike, Inc., to its Board of Directors, effective immediately.
Mammut North America Hires Three Key VP Roles, Promotes Three Others
Mammut hired three new VP-level roles to its North American team structure to drive growth across sales, operations, marketing, and partnerships. Recent promotions include Leah Simkoff to VP of finance, Ian Armstrong to national sales director and Collin Jenkins to commercial director.
Nordstrom Appoints Chief Technology And Information Officer
Nordstrom, Inc. hired Jason Morris as chief technology and information officer, effective May 1, overseeing technology functions, including engineering, data science and analytics.
Consumer Confidence Index Improves Modestly
Consumer sentiment in the U.S. improved modestly in early April, as reported in the University of Michigan’s Consumer Confidence Index, rising to 63.5 (preliminary) from 62 index points in March—better than the market expectation of 62.
Tilly’s, Inc. Appoints New Chief Merchant
Tilly’s, Inc. hired Laura Janney as EFP and chief merchandising officer, effective May 8, overseeing the retailer’s buying, sourcing and product development and coordinating consistency in its in-store and online consumer merchandising experience.
Walmart’s Chief Merchandising Officer To Depart
Walmart’s Chief Merchandising Officer, Charles Redfield, is stepping down next month. The announcement came from Walmart’s U.S. CEO, John Furner, in a memo to employees dated April 14.
U.S. Retail Sales Slip 1 Percent Amid High Inflation, Rising Rates
The U.S. Census Bureau reported overall retail sales in March were down 1 percent from February but up 2.9 percent year-over-year. In February, sales were down 0.2 percent month over month but up 5.9 percent year-over-year.
Walmart Sells Bonobos To Express And WHP Global For Fraction Of Purchase Price
Express, Inc. and global brand management firm WHP Global agreed to acquire menswear brand Bonobos, Inc. from Walmart, Inc. for a combined purchase price of $75 million, the first jointly-made acquisition by WHP Global and EXPR since finalizing its partnership earlier this year.
TYR Named Exclusive Outfitter Of USA Swimming National Team
USA Swimming, the national governing body for the sport, and TYR reported expanding its partnership naming Tyr the exclusive outfitter of the National Team and the National Junior Team through December 31, 2024.
CivicScience: Nike And Target Top Athleisure Preference Of Gen-Z
Recent polling data from CivicScience found that the Gen-Z generation turned to Nike as its brand of choice for athleisure, followed by (in order) Target, Adidas, Old Navy, and Lululemon.
Carhartt To Open Distribution Center In Fort Worth
Carhartt reported it intends to open a 1.2 million square foot distribution center in Forth Worth, TX located west of the Texas Motor Speedway at 16101 Wolff Crossing. The planned opening is in 2024 and will support 500 jobs.
JD Sports Appoints General Counsel
JD Sports Fashion Plc, parent company for Finish Line, Shoe Palace and DTLR retail brands in the U.S., hired Theresa Casey as general counsel and company secretary of JD, effective immediately.
The Athlete’s Foot To Launch TAF 3.0 Concept Store
The Athlete’s Foot reported plans to open a TAF 3.0 “neighborhood” omnichannel concept store in Atlanta in late April.
NRF Report: Organized Retail Crime A Growing Threat For U.S. Retailers
Organized retail crime is a perpetual and burgeoning problem for the U.S. retail industry, and evidence suggests it is growing in scope and complexity, according to a recently released report from the National Retail Federation (NRF).
