Costco Wholesale Corporation Elects New Board Director
Costco Wholesale Corp. elected Helena Buonanno Foulkes to its Board of Directors. Most recently, Foulkes was CEO of Hudson’s Bay Company.
BofA Upgrades Adidas To Buy, Lifts Price Targets for Dick’s and Academy
Bank of America Corp. (BOFA) upgraded Adidas to “Buy” due to its progress in improving margins while lifting its price target on Dick’s Sporting Goods and Academy Sports on improving sales trends.
Outdoor Retailer to Unveil New Format at Summer Market 2024
New features will reportedly roll out with Outdoor Retailer Summer 2024, taking place June 17-19, 2024 at the Salt Palace Convention Center in Salt Lake City, UT. The upcoming OR Winter show in November will be held in its existing format at the Salt Palace.
AKU Hires New PNW Sales Agency for Outdoor Category
Based in Seattle, The Alta Group will manage specific outdoor accounts for AKU in Alaska, Idaho, Montana, Oregon and Washington.
Oofos President To Depart, New COO Named
Oofos said Steve Gallo, the recovery footwear’s president since January 2018, will be stepping away from Oofos to take on a new opportunity. At the same time, Dave Mischler was promoted to the role of chief operating officer.
DBI Adds Le Tigre Footwear to Owned Brands Portfolio at DSW
The company, which owns retailers DSW Shoe Warehouse and The Shoe Company, said the addition of Le Tigre, along with the recent acquisitions of Keds and Topo Athletic, enables it to grow its brand portfolio in the important athletic and athleisure space.
StockX Report Calls Out On, Salomon and Asics as Top YTD Trading Gainers
Success on the secondary market can be a barometer for consumer demand, and Stockx’s report suggests that, despite a more challenging retail environment, brands continue to break through and demonstrate growth.
OrthoLite Names Cirql VP/GM
OrthoLite hired Matt Thwaites as vice president and general manager of OrthoLite Cirql. He was formerly global sales and marketing director of the Footwear Division for Coats, the industrial thread company.
Sole Technology Adds Familiar Face as ThirtyTwo Design Chief
Will Keegan has re-joined Sole Technology after 12 years as boot designer/merchandiser for the ThirtyTwo brand. Moving forward, he will oversee all design and merchandising for ThirtyTwo boots and all-terrain footwear.
TJX Lifts Outlook As Q2 Earnings Fly Past Expectations
The TJX Companies, Inc. increased its guidance for sales and earnings for the year after reporting second-quarter results that easily exceeded the off-pricer’s guidance. Same-store sales grew 6 percent.
EXEC: 361 Degrees Gets Lift from Kids in H1 Growth
The 361° Kids business, a major initiative for the company in China, grew 33.4 percent year-over-year and now accounted for approximately 21.1 percent of the Group’s total H1 revenue.
Target Slashes Guidance After Q2 Sales Shortfall
Target, Inc. reduced its full-year profit outlook on “continued near-term challenges on the topline” The readjustment came despite the discounter reporting second-quarter earnings that handily topped Wall Street as tight inventory controls offset lower-than-expected sales.
Macy’s Hires Chief Customer and Digital Officer
Macy’s Inc. named Massimo Magni chief customer and digital officer, effective August 21. He was a more than 20-year veteran of McKinsey & Company.
EXEC: Pou Sheng is Latest Chinese Retailer to Boast Growth on China Re-Opening
The retail subsidiary of footwear manufacturing powerhouse Yue Yuen International, said it saw decent recovery momentum with increased foot traffic to its brick-and-mortar channels and improved purchasing intent following the lifting of all control measures in mainland China.
EXEC: On Continues to Gobble Up Share in U.S. Run Specialty
On Holdings once again raised its sales guidance for the year after reporting second-quarter results that topped analyst targets. In the Americas, sales vaulted 59.8 percent in the period, driven by strong full-price selling and share gains within the run specialty channel.
