PVH Raises EPS Outlook as Q3 Tops Expectations
PVH Corp. raised its EPS guidance for the year after reporting sales in line and earnings above guidance in the third quarter. On a currency-neutral basis, sales were flat for the Tommy Hilfiger brand and grew 3 percent for Calvin Klein.
Costco’s Comps Improved 3.5 Percent in November
Costco Wholesale Corp. reported same-store sales rose 3.5 percent in November. By region, comps increased 1.8 percent in the U.S., 4.4 percent in Canada and 11.7 percent in its Other International segment.
EXEC: VF Corp. Cutting Another 500 Jobs
Fifteen months after cutting 300 jobs across its global workforce, the parent of the Vans, TNF, Dickies, Timberland, Smartwool, Jansport and other active lifestyle brands, is at it again, confirming Wednesday that another 500 jobs would be eliminated this week.
Bass Pro’s Debt Ratings Outlook Lowered On Sales Weakness
S&P Global Ratings lowered the debt ratings outlook of Great Outdoors Group, LLC, the corporate parent of Bass Pro and Cabela’s, due to the recent report of a negative sales performance for the third quarter and nine months ended September 30.
EXEC: Foot Locker Finds Progress with Lace-Up Strategy
Shares of Foot Locker, Inc. rose about 16 percent Wednesday after the sneaker juggernaut reported better-than-expected third-quarter results, encouraging sales trends so far in the fourth quarter and what Mary Dillon, president and CEO, hailed as several “early wins” in the company’s Lace Up transformation program.
Paris Saint-Germain to Relocate to Larger New York City Flagship
Paris Saint-Germain and its partners, Fanatics and Lids, announced plans to move its New York City flagship to a premium location at 535 5th Avenue on December 15 to build on the success of its first Manhattan flagship, at 587 5th Avenue, which opened in March 2022.
Craft Sportswear NA Sees CEO Transition as HQ Moves West
Craft Sportswear North America plans to move its U.S. headquarters from Beverly, MA, to Seattle, WA, in 2024 to “bolster the brand’s expansion in outdoor and specialty retail, all while streamlining operational efficiencies.” Cutter & Buck exec Jake Rawson has been named the new CEO for Craft North America.
Caleres Appoints SVP of International
Caleres announced that Erica Mackoul joined the company as senior vice president of international. Most recently, she worked at Cole Haan.
StockX Sets New Single-Day Trade Record on Black Friday
StockX reported strong results over the four-day Cyber Weekend, setting a new single-day trade record and averaging more than one trade every second on Black Friday. Brands receiving attention from buyers included Jordan, The North Face, Ugg, New Balance, and Fear of God.
Hudson Bay Appoints New President and CEO
Hudson’s Bay appointed Liz Rodbell as president and CEO of the Canadian retailer, effective December 1. She succeeds Sophia Hwang-Judiesch, who is stepping down as president to pursue another opportunity.
New Balance Opens Second UK store in Westfield White City
New Balance opened a second retail store in the UK, this time in Westfield White City, on November 27. The retail concept puts people, rather than products, front and center, to inspire each other and find their “authentic” style.
Foot Locker Tops Expectations in Third Quarter
Foot Locker, Inc. reported a significant drop in earnings in the third quarter on an 8 percent same-store sales decline but both earnings and sales topped analyst expectations amid progress on its Lace Up turnaround plan. For the year, the sneaker retailer slightly lowered its EPS guidance while slightly raising its sales targets.
JD Sports and Finish Line Introduce Same-Day Delivery
JD Sports and its sister retailer, Finish Line, announced plans to launch same-day delivery across its more than 500 stores in the U.S.
Macy’s Taps Former Caesars Exec as Marketing Chief
Macy’s, Inc. announced that Sharon Otterman was named chief marketing officer of Macy’s. Most recently, she was the CMO at Caesars Entertainment.
NRF: Thanksgiving Holiday Weekend Sees Record Number of Shoppers
A record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million, according to the annual survey released by the National Retail Federation. The figures surpassed NRF’s initial expectations of 182 million shoppers by more than 18 million.
