SGB Footwear

Rack Room Names New Chief Legal Officer

Rack Room Shoes hired Randolph Brodwin, Esq. as senior vice president and chief legal officer. Previously, he was vice president, associate general counsel at Foot Locker, and, most recently vice president, legal affairs at Circle K.

Avenatti Loses Conviction Appeal in Nike Extortion Case

The US Court of Appeals for the Second Circuit rejected Michael Avenatti’s claim that no sufficient evidence supported his February 2020 conviction on charges of extortion and honest services fraud for threatening to smear Nike if the company did not pay him millions.

EXEC: Shoe Carnival Sees Athletic Sales Trends Improve in Q2

Shoe Carnival, Inc. reported that same-store sales in the adult athletic category were down low single digits in the second quarter but improved sequentially from down low-teens in the first quarter. Company officials told analysts the category continues to benefit from “materially” improved inventory levels versus last year and a new campaign designed to “reactivate” former athletic footwear purchasers.

DSW Parent Company President to Depart

Designer Brands, Inc. said in a regulatory filing that William Jordan, president of the company and president of Camuto LLC, is stepping down from his positions with the company on or before December 1, 2023.

Wolverine’s Debt Ratings Lowered by Moody’s

Moody’s Investors Service downgraded the debt ratings of Wolverine World Wide, Inc., reflecting the company’s significant earnings decline in Q2 2023 and Moody’s expectations for continued weak near-term performance. S&P Global Ratings similarly recently reduced its rating.

EXEC: Active Lifestyle Well Represented on 2023 Inc. 5000 List

Golftec, Xero Shoes, SylvanSport, Stinger Sports, Bases Loaded and GiantMouse are brands in the wide range of companies in the active lifestyle space to land in Inc’s 5000 for 2023 annual ranking of the fastest-growing private companies in America—a snapshot of companies’ performance from 2019 to 2022.

Shoe Carnival Reduces Outlook on Weakness in Urban Markets

Shoe Carnival, Inc. slightly lowered its outlook for the year as second-quarter earnings and sales missed analysts’ estimates. The family footwear chain said that while overall conditions improved from earlier in 2023, soft traffic results continued within lower-income households and urban markets to lead to a 6.5 percent same-store decline in the quarter.