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.

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.

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.

Saucony Names New VP of U.S. Sales

Saucony, a division of Wolverine Worldwide, Inc., appointed Chris Deschenes as vice president of U.S. sales. Most recently, he was the vice president of sales for the company’s Wolverine Kids Group.