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.
Unifi Expands Textile Takeback System
Unifi, Inc. expanded its Textile Takeback, a collection and recycle polyester-based fabric waste system, whereby recycled resin is converted into Repreve fiber or blended with recycled plastic bottle material.
RYU Makes Changes In Management
RYU Apparel, Inc. said it changed its management structure and relocated its corporate headquarters to Toronto from Vancouver, Canada. The company accepted the resignations of former COO Robert Blair and former CFO Robert Lelovic. Cesare Fazari will continue as CEO and assume interim CFO responsibilities until a replacement is found.
Shopify Merchants Break Black Friday Records With $3.36 Billion In Sales
Shopify, Inc. reported a record-setting Black Friday with global sales of $3.36 billion from the start of Black Friday in New Zealand through the end of Black Friday in California—marking a 17 percent increase in sales over Black Friday in 2021, 19 percent on a constant-currency basis.
Black Friday Online Sales Hit Record $9.12 Billion
U.S. shoppers spent a record $9.12 billion online this Black Friday, according to Adobe Analytics, which tracks sales on retailers’ websites. That’s a 2.3 percent increase compared to $8.92 billion in 2021 and also up from $9.03 billion the in 2020.
Mastercard SpendingPulse: Black Friday Sales Climb 12 Percent
According to Mastercard SpendingPulse, U.S. retail sales on Black Friday were up 12 percent year-over-year, excluding automotive, in-store sales increased 12 percent year-over-year, and e-commerce sales experienced sustained growth, up 14 percent.
Patagonia Sues Gap For Copying Its Signature Snap-T Pullover
Patagonia, Inc. sued Gap, Inc. for allegedly copying its flap pocket and rectangular “P-6” logo, which it has used on its fleece outerwear for more than three decades.
Yomiuri Giants, Nike And Fanatics Announce Long-Term Partnership
The Yomiuri Giants, Nike and Fanatics announced a long-term global partnership whereby Nike becomes the official uniform supplier of the Yomiuri Giants. Fanatics will manufacture and distribute on-field uniforms and player performance merchandise as well as Nike-branded fan jerseys and apparel.
