Steve Becker is the new independent member of the company’s Board of Directors, effective immediately. He will serve as a member of the Board’s Nominating and Governance Committee.
Category: Apparel
REI Co-op to Lay Off 357 Non-Store Staff; Forecasts Revenue Decline for 2024
The move sees 357 employees affected, “impacting 200 people at headquarters, 6 in S&CS, 30 in Experiences and 121 in our distribution centers,” according to the CEO’s letter obtained by SGB Executive. The senior leadership team will be pared 22 percent for 2024.
Levi Strauss to Cut 10 to 15 Percent of Workforce; Sees Weak 2024
The first phase of the Project Fuel global productivity initiative is expected to occur in the first half of 2024 and is expected to include a 10 percent to 15 percent reduction of the company’s global corporate workforce.
Macy’s Shares Recover on Rumors of Another Buyout Bid
Sycamore Partners, the owner of retail brands Ann Taylor and Talbots, has been negotiating with Macy’s since December.
Adidas and Malbon Golf Introduce The Crosby Collection
“The entire collection is an ode to what golf and fashion became at that time in history but also celebrates how those same characteristics and fashion styles from that time still live on with golfers today.” —Dylan Moore, Creative Director, Adidas Golf
Report: The Changing Dynamics of Country Clubs
The pandemic seemingly increased interest in golf and tennis, leading to more visits and members at country clubs, particularly from a younger demographic. As a result, country club visits are up, and foot traffic is above pre-pandemic levels.
Nordstrom Adding Rack Location in Fort Myers, FL
The 31,000-square-foot store will be located at Bell Tower, a central shopping, dining, and entertainment complex in Fort Myers.
Report: Nearly 8 of 10 Online Chargebacks Originate from Consumers, Not Fraud
Based on anonymized data obtained from Chargeflow’s merchant database, the company’s 2024 report found that 79.03 percent of chargeback cases result from friendly fraud, driving the need for businesses to adopt automated fraud detection solutions and educational initiatives.
Ashworth Golf Names Sales Rep of the Year
Ann Johnson’s hard work and determination proved instrumental in opening new doors, securing green grass accounts and delivering significant growth for the company.
Ashworth Golf Debuts “Insanely Soft and Stylish” Golfman Hoodies for 2024
“The popularity of the Golfman Hoodie among PGA Professionals speaks volumes to the incredible fabric, super soft feel and consumer affinity for the Ashworth brand.” —Eddie Fadel, President, Ashworth Golf
EXEC: Puma Expects to Come Up Short in 2023; Tempers 2024 Outlook
The company points to the extraordinary 54 percent devaluation of the Argentine peso in December 2023 and the application of hyperinflationary accounting for a miss on its bottom line.
EXEC: Amer Sports Expects 2023 Full-Year Revenues North of $4.35 Billion
Revenue reportedly increased across all operating segments, geographic regions and channels, according to the company’s recently amended F-1 filing statement. The company sees its annual net loss contracting but EBITDA expanding for the year.
Circana to Acquire Golf Datatech
The transaction is subject to customary closing conditions and expected to be completed by March 2024. Under the terms of the agreement, Golf Datatech will operate as a wholly-owned subsidiary of Circana.
Academy Sports and Outdoors Appoints Chief Supply Chain Officer
Rob Howell will join the company as SVP and chief supply chain officer in February 2024, reporting to President Sam Johnson. He will oversee supply chain operations, distribution centers, and domestic and international logistics.
Pure Hockey Expands into Iowa with New Acquisition
The acquisition of JT’s Slap Shot in Urbandale, IA, marks Pure Hockey’s first entry into the state and “underscores the company’s commitment to serving the needs of hockey players across the U.S.”
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