Birkenstock Holding filed for an initial public offering with the U.S. Securities and Exchange Commission. The filing shows revenues increasing to €1.24 billion ($1.33 bn) in FY22 from €727.9 million in fiscal 2020, a 31 percent two-year CAGR (compound annual growth rate).
Category: Footwear
Helly Hansen, SportChek Parent Prices Private Placement Notes Offering
Canadian Tire Corporation, Ltd. intends to use the net proceeds from the offering and sale of the Notes for the repayment of short-term borrowings and general corporate purposes.
EXEC: Skechers Notes Continued Pressure in U.S. Wholesale Business
Speaking at the Piper Sandler Growth Frontiers Conference, John Vandemore, the CFO at Skechers USA, said the company continues to see strong demand for the brand across its DTC channels but is not seeing any indication that the elevated inventories affecting U.S. wholesale business to alleviate anytime soon.
Nike Shareholders Reject Pay Equity Proposal
At Nike, Inc.’s annual meeting Tuesday, shareholders voted against a proposal seeking a more detailed report on pay gaps across race and gender. Shareholders also rejected a proposal over the disclosure of human rights commitments.
Rocky Brands Sees Newly Hired CFO Resign and Exit
SVP, Chief Financial Officer and Treasurer Sarah O’Connor has resigned from her position with the company, effective immediately. She joined the company in mid-February.
Nordstrom Rack to Open New Store in San Diego
With this new location opening in Fall 2024 and to other announced store openings, Nordstrom will operate 68 Nordstrom Rack stores, 22 Nordstrom stores, 5 Nordstrom Locals, and one asos | Nordstrom in California.
Rebel Athletic and Zer0 Cheer Expand Operations into Colombia
Zer0 Cheer is the exclusive distributor for select South American countries of Rebel Athletic shoes, bags and customized apparel, including practice wear and uniforms. The new office and warehouse will reportedly be fully operational this month.
TikTok Shop Officially Launches in the U.S.
TikTok officially launched its e-commerce product, TikTok Shop, in the U.S. following a test since last November.
EXEC: Active Lifestyle Retail Weathers Rough Second Quarter Waters
Although a few retailers outperformed in the second quarter, big names in the active lifestyle space fought through a challenging quarter amid promotional pressures, retail theft and the consumer’s continued shift away from discretionary purchases.
Academy Sports Opens First Store in Brenham, TX
Academy Sports + Outdoors announced it opened its first store in Brenham, TX, with a grand opening planned from September 15-17.
Crocs Assigned BB Rating for New Term Loan
S&P Global Ratings today assigned its ‘BB’ issue-level rating to Crocs Inc.’s new $1.18 billion term loan due 2029.
Caleres Names First Chief Design & Product Officer
The company promoted Natelle Baddeley to the role with creative oversight for the majority of the Caleres brand portfolio, including Naturalizer, Vionic, Dr. Scholl’s, Veronica Beard, Vince, Franco Sarto, Blowfish Malibu and LifeStride.
Macy’s Appoints New CEO of Bloomingdale’s
Macy’s, Inc. named Olivier Bron as its next chief executive officer of Bloomingdale’s. Most recently, he was the CEO of Central Group’s Central and Robinson Department Stores in Thailand and previously COO of French retail group Galeries Lafayette.
NRF Now Sees 2023 Retail Sales at Low End of Earlier Forecast
The March forecast called for 2023 retail sales to increase between 4 percent and 6 percent over 2022; however, the Fed’s interest rate increases slowed the economy and the NRF believes there is a good chance that sales will end up in the lower range of the forecast, if not lower.
NRF: Import Cargo Volume Could Hit 2 Million TEU Three Months in a Row
Import cargo volume at the nation’s major container ports is expected to hit the 2 million Twenty-Foot Equivalent Unit (TEU) mark for the second consecutive month in September and remain there in October.
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