QVC Parent’s Debt Ratings Lowered
S&P Global Ratings lowered the debt ratings of Qurate Retail, Inc., the parent of QVC. The rating agency said Qurate’s operating performance weakened further in the fourth quarter of 2022 as profitability was worse than anticipated, driving leverage up amid steadily declining customer demand.
Kitsbow Cycling Apparel To Close
Kitsbow, the manufacturer of cycling apparel and accessories based in Old Fort, NC, is closing after being unsuccessful in securing funding, CEO David Bilstrom said in a post on Kitsbow.com.
Bloomingdale’s Appoints Chief Merchant
Bloomingdale’s has promoted Denise Magid to the newly created role of chief merchandising officer, effective immediately. Within this position, Magid will drive the strategic direction and performance of all Bloomingdale’s merchandising initiatives.
Nike, Inc. Posts Double-Digit Growth Across Regions In Fiscal Q2 As EPS Beats Outlook
Nike, Inc. reported fiscal 2023 third quarter reported revenues were $12.4 billion, up 14 percent compared to the prior year and up 19 percent on a currency-neutral basis. Diluted EPS declined 9 percent to 79 cents a share. Inventories for Nike, Inc. were $8.9 billion, up 16 percent.
Turtle Fur Hires CEO, CFO And VP Marketing & E-Commerce
Turtle Fur reported strategic leadership hires, including CEO Jim Osgood, CFO Matt Glomski and VP of Marketing & E-Commerce Erika Canfield.
Mountain Khakis Hires Creative Director
With 20-plus years of experience in the creative and marketing field, Mountain Khakis hired Ant Sanders as creative director.
Amazon To Lay Off Another 9,000 Employees
Amazon’s Andy Jassy, the company’s chief executive, said in a note to employees on Monday that the company is laying off 9,000 corporate and tech employees by the end of April, adding to the 18,000 jobs it cut late in 2022 and again in January 2023.
Sweaty Betty CEO And COO To Step Down
Drapers reported that Sweaty Betty’s chief executive Julia Straus and chief operating officer, Mark Smith, would step down this summer following the brand’s takeover by Wolverine Worldwide. A search is underway to fill the positions.
On’s Revenues Surge 92 Percent In Fourth Quarter
On Holding AG significantly decreased its loss in the fourth quarter ended December 31 as sales vaulted 91.9 percent. For the current year, the Swiss running brand predicts sales will grow 39 percent.
The Buckle Sets New Quarterly Dividend
The Buckle, Inc. board of directors authorized a 35 cents per share quarterly dividend to be paid to shareholders of record at the close of business on April 14, with a payment date of April 28.
Fanatics And NHL Ink 10-Year Deal For On-Ice Uniforms, Authentic Jerseys Supplier
The National Hockey League and its longstanding partner Fanatics have inked a new 10-year agreement which, beginning with the 2024/25 season, will see Fanatics become the League’s authentic outfitter of on-ice uniforms and supplier of authentic jerseys at retail.
Rab, Lowe Alpine Names Industry Vet As U.S. Country Manager
Rab and Lowe Alpine hired industry veteran Adam Chamberlain as U.S. Country Manager responsible for domestic operations in the United States.
Primaloft Announces CFO Transition
PrimaLoft, Inc., a subsidiary of Compass Diversified, promoted Jason Kerley to chief financial officer from vice president and controller. He will transition to the position on the retirement of the current CFO, Tom Seaver.
K-Swiss Appoints Footwear Industry Vet As International Brand President
K-Swiss hired athletic footwear industry veteran Rob Langstaff as international brand president.
NRF Sees Easter Spending Reaching Record $24 Billion; Clothing Forecast At $4 Billion
According to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics, consumers plan to spend $24 billion on Easter this year, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020, with 81 percent of Americans celebrating the holiday and spending on average $192.01, the highest figure to date.
