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.
Report: Shot Show is Now the Third Largest Trade Show in Vegas
The show is now the eighth largest trade show in America, according to Trade Show Executive’s just-released Gold 100 rankings. The rankings were based on trade shows held throughout the U.S. in 2022 and measured by net square feet.
EXEC: JLL Holiday Survey Sees Experiences Weighing on Traditional Gift Spend
In the JLL 2023 Holiday Shopping Survey Report consumers are poised to increase spending on entertainment and experiences during the holiday season but at the expense of the amount they would have spent on gift giving. The survey found spending on physical goods to decline 13.8 percent.
The Good Feet Store Opens 250th Location
The Good Feet Store, based in Carlsbad, CA, announced a milestone with the opening of its 250th store, in partnership with franchisee group, The Watermans. The new store is located at 4400 Hwy 6 #200 in College Station, TX.
Gunpowder, Inc. Adds Three Hires in Strategic Move
The company noted that the hire of Josh Ward, Michelle Gandola and Alex Gaziano in the third quarter of 2023, reflected the Wisconsin-based agency’s “commitment to strengthening its public relations and digital marketing capabilities.”
Nordstrom Plans Another Texas Rack Store
With the addition of this new location, two stores opening this fall in Denton and Allen, and the recently-opened location in San Antonio, Nordstrom will operate 22 Nordstrom Rack stores and eight Nordstrom stores in Texas.
Le Coq Sportif Posts Wider H1 Loss on Weaker Footwear Sales
Growth in the brand’s apparel and accessories businesses wwas offset by declines in footwear for the six-month period ended June 30.
Macy’s Plans to Open Up to 30 Small-Format Stores Through 2025
Macy’s, Inc. reported plans to open up to 30 new small-format stores starting in 2024 and running through fall 2025; this is in addition to the 15 small-format Macy’s and Bloomie’s stores the retailer will operate by the end of 2023.
Academy Sports + Outdoors Opens Second VA Store
The 77,000-square-foot space in Fredericksburg, VA marks the sixth store Academy has opened in 2023 on its was to its goal of opening 120 to 140 new stores by the end of 2027.
Zamberlan Names Rep Group In Midwest
Zamberlan, the third-generation handcrafted Italian bootmaker, tapped The Hammond Group to represent the brand in the Midwest.
Under Armour to Open First Store in Northern Ireland
Under Armour is opening its first store in Northern Ireland in November with a 2,600-square-foot location at The Boulevard in Banbridge.
EXEC: Wall Street Lukewarm on Nike’s Fiscal Q1 Results
Nike’s shares rose 6.7 percent on Friday after the company reported earnings in the fiscal first quarter ended August 31 handily topped expectations on stronger-than-expected margins, but many analysts were non-plussed, remaining concerned about sluggish growth trends, particularly in the North American wholesale channel.
Dainese Group Appoints New CEO
The owner of the Dainese, AGV and TCX motorcycle apparel, helmet, and boot brands and licensee for Momo Design, appointed Angel Sánchez as CEO, effective November 2. Cristiano Silei, CEO of Dainese since 2015, will become non-executive chairman of the company.
