Fanatics-Owned NFT Venture Undergoes Layoffs
Candy Digital, the sports and entertainment NFT startup backed by Fanatics, reported it laid off more than one-third of its workforce of approximately 100 employees, according to Sportico.
Rossignol Group Releases Growth Plan
Targeting both significant revenue growth and category leadership in sustainable ski and outdoor products, the Rossignol Group unveiled a new strategic plan — called Ascension 2026 — that commits to investing $50 million between now and 2026 to achieve its goals.
Mountain Khakis Adds Rep Group To Cover Rockies
Mountain Khakis reported it hired Alpin Sales as its wholesale sales rep group covering the Rockies.
Online Shoppers Spend Record $11.3B On Cyber Monday
According to Adobe Analytics, online sales on Cyber Monday reached $11.3 billion, up 5.8 percent year-over-year growth, representing the biggest online shopping day.
Golf Equipment Declines But Apparel Expands In October
Golf equipment sales were off 5.9 percent in October and down 2.2 percent year-to-date, according to Golf Datatech. Golf apparel sales were up over 8 percent on the month and 6 percent on a year-to-date basis.
Delta Apparel Hires EVP And Chief Administrative Officer
Delta Apparel, Inc. reported Justin Grow had rejoined the company as executive vice president and chief administrative officer.
Rally House Expands In Ohio And Michigan
Rally House opened a new store in Cincinnati, OH, and expanded its East Lansing, MI store.
Foot Locker Makes Leadership Changes
Foot Locker, Inc. named Frank Bracken EVP and chief commercial officer and hired Elliott Rodgers as chief operations officer as part of a corporate move to support growth and enhance operational efficiency. The sneaker chain also announced the planned transition of its chief financial officer.
Hibbett Reiterates FY Outlook Despite Q3 Shortfall
Hibbett Inc. reported third-quarter results came in below Wall Street estimates with margins impacted by higher logistics and wage costs, but the retailer reiterated its outlook for the year. Comparable sales increased 9.9 percent versus the prior year and increased 51.7 percent compared to 2019 third quarter.
Iconix Founder Convicted In Accounting Fraud Retrial
Neil Cole, the founder and former CEO of Iconix Brand Group, was convicted of securities fraud and other charges for misleading investors about the company’s earnings. Cole was found guilty of all eight criminal charges against him by a unanimous jury Monday in a New York court. He was charged in 2019 with fraudulently inflating Iconix earnings.
REI To Open In Marina Del Rey
REI Co-op will open a new store in Marina del Rey in spring 2023. The 24,000-square-foot site is the retailer’s 30th store in California.
On Adds Apparel To Resale Program
Swiss running brand On has added men’s and women’s apparel to its resale program. The move follows the September launch of Onward resale site and online trade-in program initially focused on footwear.
Jack Wolfskin Hires New Leadership For UK And Nordic Regions
Jack Wolfskin hired new leadership for the UK and Nordic regions to align with the company’s global growth strategy, firs reported in 2021.
Frasers Group Acquires Gieves & Hawkes
Frasers Group Plc, the parent of Sports Direct, bought Savile Row tailor Gieves & Hawkes.
Nexgen Packaging Names CEO
Nexgen Packaging, a provider of packaging for the retail, apparel and footwear industries, hired James Welch as CEO. Welch assumed the role in October, after having been the company’s co-CEO since June 2021. Co-founder Andy Effron moved from the co-CEO role to the chairman.
