NRF Economist Says U.S. Economy Still Shows Resilience
The U.S. economy continues to grow despite U.S. labor disputes and the uncertainty created by Congress, adding to the ongoing challenges of inflation and high interest rates, NRF Chief Economist Jack Kleinhenz said.
Adobe Sees Online Holiday Sales Climbing 4.8 Percent With Record Discounts
U.S. online holiday sales from November to December 2023 will rise 4.8 percent year-over-year (YoY) to $221.8 billion, marked by retailers offering deep discounts and increased online shopping spend, according to Adobe’s forecast.
EXEC: Famous Footwear Leans On Kids Footwear to Drive Market Share Gains
Speaking at Caleres’ Investor Day event, Michael Edwards, president of Famous Footwear, said the family footwear chain plans to leverage its strong position in the kids’ category to meet its goal of making Famous “the destination for the Millennial family.”
Feetures Breaks Ground on New Warehouse Facility
Features broke ground at the end of September for its new 60,000-square-foot warehouse located in Hickory, NC.
Timberland Names Chief Marketing Officer
Timberland announced Maisie Willoughby as the brand’s new Vice President and Chief Marketing Officer (CMO). Most recently, she spent five years at Alexander Wang.
Inov-8 To Rebrand with New Name and Logo
Inov-8, founded in 2003, is marking its 20 years in the active outdoor industry, manufacturing running, hiking and gym gear, with a rebrand designed to support accelerated growth.
Sports Direct’s Parent Company Plans New HQ
Frasers Group, the U.K.-based parent of Sports Direct, submitted a planning application for a new global headquarters campus at Ansty in Rugby, Warwickshire. The company’s current headquarters are in Shirebrook, Derbyshire.
EXEC: An Inside Look at On as Company Builds a “True Sportswear Brand”
On is also looking to expand its share with core runners as part of a long-term goal to become the world’s leading running shoe but recent findings show the brand being worn by just 15 percent of runners on major running routes in Miami and only 7 percent in New York City.
Famous Footwear Parent Sets Three-Year Growth Plan, Tempers FY Guidance
Ahead of its Investor Day event, Caleres presented a three-year strategic and financial plan that calls for earnings to grow annually in the low-single-digit range with sales expanding 3 to 5 percent on average. The parent of Famous Footwear, however, warned that sales for the third quarter and current year will land at the low-end of guidance.
The Buckle’s Comps Decline 11 Percent in September
The Buckle, Inc. reported that its comparable store net sales for the 5-week period ended September 30 decreased 11.1 percent from the year-ago period.
Atmos to Exit North American Operations
Atmos, the Tokyo-based footwear retailer acquired by Foot Locker in 2021, is reportedly planning to close its three North American stores and cease online operations in the region to refocus on growing business in Japan and Asia.
Outdoor Recreation Roundtable Names VP of Programs
Outdoor Recreation Roundtable promoted Chris Perkins to vice president of programs.
PVH Corp. Debt Ratings Outlook Upgraded
S&P Global Ratings revised its debt ratings outlook on PVH Corp. to positive as the parent of Tommy Hilfiger and Calvin Klein demonstrated a track-record of maintaining leverage of less than 3x in recent years.
EXEC: U.K. Retailers Facing Rising Retail Crime Demand Government Action
The 2023 BRC Crime Survey showed incidents of violence and abuse towards retail workers had almost doubled from pre-pandemic levels to 867 incidents every day in 2021/22. Top executives at JD Sports were signatories to the demand letter.
On Plans to Double Sales and Reach 60 Percent Gross Margin by 2026
The company plans to grow 2026 net sales to at least CHF3.55 billion, or approximately $3.95 billion at the average September 2023 conversion rate, reflecting a CAGR of over 26 percent based on its 2023 forecast.
