Troy Rice is succeeding the retiring long-term CEO Dick Sullivan. Rice joins the company after serving three years as CEO of Total Wine & More and will report directly to Arthur M. Blank, owner and chairman of the Blank Family of Businesses.
Category: Footwear
Nordstrom Rack to Open Location in Encinitas, CA
Nordstrom Inc. announced plans to open a new Nordstrom Rack in Encinitas, CA in spring 2026.
EXEC: Nike Shares Jump After JPMorgan Upgrade and Price Target Hike
Shares of Nike climbed $2.97, or 3.9 percent, to $79.24 on Monday, July 28 after JPMorgan upgraded the stock to “overweight” from “neutral” due to progress on reducing inventories, momentum in securing wholesale orders and innovation showing promise for performance product.
Rack Room Shoes Opens in Greeley, Colorado
The newest location is 5,600 square feet and features footwear for men, women and kids. The store will host a grand opening on August 2. Headquartered in Charlotte, NC, Rack Room Shoes has over 520 locations nationwide under the Rack Room Shoes and Off Broadway Shoe Warehouse brands.
EXEC: PwC Sees Continued Sluggish M&A Activity in Consumer Sector In Second Half
After a timidly optimistic start to the year, the global M&A market cooled in the first half, conditioned by a highly uncertain economic and geopolitical environment, and is expected to remain challenged in the back half, according to PwC’s mid-year report. Between January and May 2025, M&A global volume in the consumer sector fell 9 percent.
Skechers USA Plans to Vigorously Defend Itself in Hands Free Slip-Ins Suit
Skechers’ President Michael Greenberg questioned the timing of Kizik’s lawsuit, which follows the announcement in early May that Skechers would be acquired by 3G Capital for about $9.4 billion.
Nordstrom Rack to Add New Stores in Florida and Massachusetts
Nordstrom Inc., announced plans to open a 27,000-square-foot Nordstrom Rack store in Plymouth, MA in spring 2026 and a 24,700-square-foot Nordstrom Rack store in Tampa, FL, in fall 2026.
Merrell Appoints Director of U.S. Lifestyle and Pure Play Accounts
The former Senior Director of Merchandising at Zappos has been named director of Lifestyle and Pure Play for U.S. Wholesale, a newly created role at Merrell. Forstadt will report to Jessica Adler, VP of Sales.
Tilly’s Inc. Names Nate Smith as New President and CEO
Smith has served as CEO of Marolina Outdoor, Inc. since September 2024. Previously, he was at Boardriders, Inc. as president, Americas. Prior to Boardriders, Smith served as VP/GM, North American Wholesale at Oakley, Inc. and as VP, Oakley Defense. He has also served in executive roles at Ipath Footwear, MV Transportation, Inc. and Patagonia, Inc., following his eight years of service in the United States Navy.
Columbia Sportswear Sues Columbia University
The University and the sportswear company tackled the problem in 2023, Columbia Sportswear said, when it signed an agreement that allowed the University to sell Columbia-emblazoned gear, as long as it also featured some of the University’s indicia (symbols that indicate the school alone), which include a shield, a crown, a “C” design, or Columbia’s lion mascot.
Parent of Oboz and Rip Curl Appoints CFO
KMD Brands, Ltd. appointed Carla Webb-Sear as chief financial officer. She joins the company from Qantas, where she served as chief financial and strategy officer of its Loyalty Division. Webb-Sear will be based at the Group’s global headquarters in Melbourne, Australia.
Polygiene’s Loss Widens in Q2, Blames U.S. Tariffs
Sales in the quarter ended June 30 amounted to SEK 31.9 million ($3.4 mm), down 12.2 percent from SEK 36.4 million a year ago. The loss was SEK 3.13 million, compared to a loss of SEK 1.37 million a year ago.
Scheels to Open Location in Blaine, Minnesota
Scheels announced plans to open a 250,000-square-foot store in Blaine, MN, in spring 2028. The location will be the company’s second location in the Twin Cities metro, joining Eden Prairie, and sixth in the state.
EXEC: On Holdings’ Stock Downgraded on Currency Headwinds, Tariff Concerns
Raymond James reduced its stock rating on On Holdings to “Outperform” from “Strong Buy” and lowered its earnings estimates due to the strengthening of the Swiss Franc and the impact of tariffs. Raymond James’ analyst Rick Patel wrote, “While we see 2Q being ‘less clean’ due to FX, tariffs, and slower wholesale growth (due to timing of launches), we remain bullish on ONON as a long-term story.”
EXEC: Grassroots President Gabe Maier Talks About Connections
Gabe Maier, president of Grassroots Outdoors Alliance talked with SGB Executive about the work the membership organization is doing on behalf of independent outdoor retailers, its evolving Connect show and the prospects for a national show for the outdoor industry.
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