Gant has named Patrik Söderström chief executive officer, effective February 2020. He will take over for Brian Grevy, who, as reported, is re-joining Adidas to lead Global Brands.
Category: Footwear
Online Sales Break Records On Black Friday
Overall online sales on Black Friday jumped 19.4 percent to $7.4 billion, the second-largest Internet shopping day ever, according to data compiled by Adobe Analytics. The $7.4 billion marked the biggest sales day ever for Black Friday and trailed only last year’s Cyber Monday’s $7.9 billion for the number 1 spot of all-time in online revenue, according to Adobe’s data.
Citi Trends Posts Q3 Loss
Citi Trends, which is increasing its emphasis on gift-giving merchandise and away from apparel, reported a loss in the third quarter as comps increased 2.6 percent while increasing its full-year outlook. The retailer also said it plans to annually grow store base by 25 to 30 stores and remodel 50 stores and named Peter Sachse as interim CEO.
Hudson’s Bay Bidding War Heats Up
Hudson’s Bay Company (HBC), the parent of Saks, has received a third – and higher – offer from Catalyst Capital Group to acquire the company.
Bearpaw Appoints VP Of Sales For North America
Bearpaw appointed Marty Meade as VP of sales for North America effective November 25, 2019. He was vice president of sales and brand manager for Hi-Tec and Magnum Brands.
NRF: Half Of Holiday Shoppers Have Already Started
More than half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.
Report: Anta Exploring Sale Of Precor
Anta Sports Products Ltd. , which acquired Amer Sports in March 2019, is exploring a sale of Precor, the fitness equipment maker, after receiving interest from buyers, according to a report from Bloomberg.
Skechers Completes New $500 Million Senior Unsecured Credit Facility
Skechers USA, Inc. announced the closing of a new $500 million, five-year, senior unsecured credit facility. This new credit facility replaces the $250 million asset-backed credit facility that Skechers entered into in 2015, which was due to expire in June 2020.
PVH Lifts Outlook As Q3 Exceeds Guidance
PVH Corp., which owns the rights to Speedo in North America, raised full-year adjusted profit forecast after its third-quarter revenue and earnings that topped Wall Street expectations.
On Partners With Roger Federer
On, the Swiss running shoe brand, has partnered with Roger Federer. The Swiss tennis legend has become an investor as well as a contributing designer and representative for the brand.
The Buckle’s Q3 Profits Climb 27 Percent
The Buckle Inc. reported net income for the fiscal quarter ended November 2, 2019 rose 26.8 percent to $26.0 million, or 53 cents per share, from $20.5 million, or 42 cents, a year ago.
Foot Locker Tops Q3 Analyst Targets, Comps Climb 5.7 Percent
Foot Locker, Inc. reported earnings topped Wall Street’s consensus estimate in the third quarter as same-store sales ran up 5.7 percent. Said Dick Johnson, CEO, “We are pleased with our performance in the quarter, which reflects the success of our strategic focus on building even deeper connections with our customers and further strengthening relationships with our vendors.”
Goat Partners With The Brooklyn Nets
Goat, the sneaker reseller marketplace, has launched an official partnership with the Brooklyn Nets for the 2019-20 season that will include Goat-branded arrival paths for home and away teams, content, signage and more.
Toms Releases 2019 Impact Report
Toms released its 2019 impact report. The report provides a comprehensive overview of their giving, including 96.5 million lives impacted, since the brand was thirteen years ago
Stage Stores’ Comps Jump 17.4 Percent
Stage Stores Inc., which is converting many of its banners to the Gordmans off-price concept, cut its losses in the third quarter as same-store expanded 17.4 percent.
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