Foot Locker Appoints COO; Announces Leadership Realignments
Foot Locker Inc. has promoted Frank Bracken, EVP and CEO, Foot Locker North America, to COO as part of several leadership realignments. In the newly created role, Bracken will oversee the company’s global operations and omnichannel customer experience, including global technology and supply chain, reporting to Richard A. Johnson, Chairman and CEO, Foot Locker.
Slinger Bag Enters Puerto Rico With New Distribution Agreement
Slinger Bag announced its latest distribution agreement with Trading and Logistics Group, Inc. to bring it business to the tennis community in Puerto Rico.
Nordstrom Partners With Fanatics To Enter Sports Fan Category
Nordstrom and Fanatics announced a new long-term partnership through which Nordstrom.com customers will have access to shop Fanatics licensed sports fan product.
Stio Announces Key Hires
Stio, the mountain lifestyle brand headquartered in Jackson Hole, WY, announced several key new leadership positions for the brand.
Macy’s Q3 Same-Store Sales Jump 37 Percent
Macy’s Inc. significantly raised its earnings outlook for the year after reporting third-quarter results that exceeded expectations. Comparable sales jumped 35.6 percent versus 2020 and 8.7 percent versus 2019.
Kohl’s Lifts Full-Year Outlook As Q3 Earnings Eclipse Analyst Targets
Kohl’s Inc. raised its full-year 2021 financial outlook after reporting third-quarter net sales and earnings that easily exceeded Wall Street expectations. Third-quarter comparable sales jumped 14.7 percent against a year-ago decline of 13.3 percent.
Patagonia Closes Bowery Surf Shop
The Patagonia Surf store on the Bowery in New York City has closed.
Versace Appoints Interim Chief Executive Officer
Capri Holdings Limited announced the appointment of Cedric Wilmotte as Interim Chief Executive Officer of Versace, effective January 17, 2021.
Thanksgiving Weekend To See More Holiday Shoppers Than Last Year
Nearly two million more people than last year are expected to shop from Thanksgiving Day through Cyber Monday this year even as consumers have continued the trend of starting their holiday shopping earlier in the year, according to the annual survey released by the National Retail Federation.
Compass Diversified Announces Strengthened Capital Structure
Compass Diversified (CODI) completed its previously announced offering of $300 million in aggregate principal amount of 5.000 percent senior unsecured notes due 2032 in a private offering. In conjunction with the completion of this offering, CODI has reduced its revolver borrowings by $297 million and now has access to approximately $583 million of its $600 million revolving credit facility.
Former Patagonia CEO Joins ReGen Ventures
ReGen Ventures, a global early-stage venture fund that invests in regenerative technologies, announced that former Patagonia CEO Rose Marcario has joined the firm as a partner.
Target’s Q3 Same-Store Sales Climb 13 Percent
Target Corp. reported comparable sales grew 12.7 percent in the third quarter on top of 20.7 percent growth last year. Brian Cornell, CEO, said, “Our third-quarter comp increase of 12.7 percent was driven entirely by traffic, and reflects continued strength in our store sales, same-day digital fulfillment services and double-digit growth in all five of our core merchandising categories.”
TJX Comps Climb 14 Percent In Third Quarter
The TJX Companies Inc. reported net income for the third quarter was $1.0 billion, or 84 cents a share, a 24 percent increase over 68 cents per share in the third quarter of Fiscal 2020. Q3 FY22 overall open-only comp-store sales increased 14 percent over Q3 FY20
Retail Sales Jump In October
The U.S. Census Bureau said overall retail sales in October were up 1.7 percent seasonally adjusted from September and up 16.3 percent year-over-year.
The House Of LR&C Strengthens Advisory Group
The House of LR&C, a fashion house founded by Ciara, Russell Wilson and Christine Day, announced that the company has appointed David Adelman to its Board of Directors. The company also announced that they are bolstering internal resources with the addition of apparel industry executives Sheree Waterson and Gemo Wong as Advisors.
