Nike Appoints SNKRS VP To Lead New Virtual Studios Division
Nike announced it had appointed Ron Faris as the VP of its SNKRS app and lead its Virtual Studios, a new division supporting Nike’s latest push into the metaverse.
REI Workers In Manhattan Store Seek To Form Union
Employees at the REI store located in the SoHo district in NYC filed for a union election on Friday, according to a report in The New York Times.
NPD Group: Early 2021 Retail Gains Outpaced Strong Holiday Finish
U.S. consumer spending on general merchandise ended the year up 15 percent compared to 2020 with a 6 percent increase in unit sales. While holiday shopping brought positive retail results, the early part of the year delivered more significant year-over-year gains. The fourth quarter of 2021 contributed 9 percent revenue growth and one percent unit growth over the prior year, according The NPD Group.
Port Of Los Angeles Breaks Cargo Record In 2021, Sets Priorities For 2022
Breaking its previous calendar year record by 13 percent, the Port of Los Angeles processed about 10.7 million Twenty-Foot Equivalent Units (TEUs) during 2021. The milestone, a Western Hemisphere record, was announced by Port Executive Director Gene Seroka in his address at the Pacific Merchant Shipping Association’s Seventh Annual “State of the Port” event held virtually this year.
Camping World Increases Stock Repurchase Program
Camping World Holdings Inc. announced that its Board of Directors has authorized an increase in its stock repurchase program after which $200 million remains available for the repurchase of the company’s Class A common stock.
Kohl’s Receives Pressure From Two Possible Suitors
Kohl’s shares are set to surge Monday morning as the department store chain is reportedly fielding interest from two suitors at the same time that it’s grappling with multiple activist investors pressuring it to sell.
ICSC Survey: Holiday Sales Grew 17 Percent
As retail sales grew 17 percent year-over-year in November and December, ICSC’s (International Council of Shopping Centers) 2021 Post-Holiday Survey has found that consumers spent an average of $1,011 this holiday season, with 226 million consumers spending money on holiday gifts.
LVMH Luxury Ventures Invests In Aimé Leon Dore
LVMH, the French-based luxury conglomerate, has invested in New York-based streetwear label Aimé Leon Dore. The minority stake investment was made through its LVMH Luxury Ventures arm, which focuses on investing in emerging labels.
Walmart Appoints New U.S. E-Commerce Chief
Walmart has tapped Tom Ward to lead its e-commerce division after the departure of Casey Carl, according to a company memo as first reported by The Wall Street Journal.
Rally House Opens 100th Location
Rally House hit a major milestone with the opening of its 100th store in Lawrence, KS.
Patagonia Sales Exec Joins Better Place Forests
Better Place Forests announced the appointment of John Collins as CEO. Collins began his retail career with Patagonia in 1996 and most recently served as Patagonia’s head of global revenue.
Nike To Close Factory Store In Louisville
Nike closed a Nike Factory Store at Shelbyville Road Plaza in Louisville, KY.
Fanatics Appoints General Counsel
Fanatics announced the appointment of its first General Counsel, Shiri Ben-Yishai to oversee its legal affairs worldwide, including commerce, collectibles, betting and gaming, and NFT’s.
Peloton Considers Layoffs But Denies Reports It Will Suspend Bike Production
Peloton, in a note on its website, confirmed it is considering layoffs, but denied a report that the company would temporarily halt production of its bikes to realign supply with softer demand. In a separate press release, Peloton indicated its fiscal second-quarter revenue would be within its previously forecasted range.
Nordstrom Secures Exclusive On Tom Brady Sports Apparel Line
Nordstrom announced it is the exclusive retail partner and only physical retailer for Brady, the athletic apparel brand created by Quarterback Tom Brady, Tampa Bay Buccaneers.
