K-Swiss Appoints Footwear Industry Vet As International Brand President
K-Swiss hired athletic footwear industry veteran Rob Langstaff as international brand president.
NRF Sees Easter Spending Reaching Record $24 Billion; Clothing Forecast At $4 Billion
According to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics, consumers plan to spend $24 billion on Easter this year, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020, with 81 percent of Americans celebrating the holiday and spending on average $192.01, the highest figure to date.
Foot Locker’s Q4 Tops Wall Street Targets, Sets Long-Term Growth Plan
Foot Locker, Inc. reported fourth-quarter earnings below year-ago levels, but sales and earnings were ahead of Wall Street estimates. The sneaker retailing giant forecasted same-store sales would fall 3.5 percent to 5.5 percent; however, today, during its Investor Day conference, Foot Locker said it would outline a new long-term growth strategy that calls for same-store growth between 3 percent to 4 percent from fiscal years 2024 through 2026 and significantly higher EPS growth.
REI Names Chief Merchant, Chief People Officer, Co-Op Brands VP
REI Co-op hired Apple Musni as chief people officer, effective March 20. The company also promoted Chris Speyer to senior vice president and chief merchandising officer and Isabelle Portilla to vice president, Co-op Brands, effective immediately.
Start 2 Finish Acquires Fleet Feet Race Productions
Start 2 Finish Event Management, with offices in Atlanta, GA; Charlotte, NC; and Memphis, TN, reported it had acquired the Race Productions division of Fleet Feet St. Louis to expand its reach in the Midwest and further establish itself in the event management industry.
Wolverine Worldwide Announces New Board Chairman And Directors
Wolverine World Wide, Inc. reported today that its Chairman and retired CEO, Blake Krueger, will retire from the Board on May 4. Tom Long, the Board’s lead independent director, will assume the role of Chairman on May 4. The company also elected three new board members—Stacia Andersen, Jodi Bricker and DeMonty Price.
361 Degrees Posts 17 Percent Revenues Growth In 2022
Hong Kong-based 361 Degrees International Ltd. reported earnings grew 24.2 percent in the year ended December 31 as sales expanded 17.3 percent.
Shoe Carnival Names New CFO
Shoe Carnival, Inc. hired Erik Gast as executive vice president and chief financial officer, effective April 24. He replaces Kerry Jackson who is retiring after a 35-year career with the family footwear chain.
Signa Sports Fiscal Q1 Sales Up 27 Percent But Margins Suffer From Inventory Woes
Signa Sports United N.V. reported that the operating environment in the first quarter of fiscal 2023 was a continuation of the prior quarter, with depressed consumer sentiment and a promotional overstocked market, in particular in the bike category.
Academy Sports Q4 Earnings Fly Past Wall Street Targets
Academy Sports and Outdoors Inc. reported earnings on an adjusted basis increased 12.5 percent in the fourth quarter ended January 28 as lower freight costs and overall operating expenses offset a 5.1 percent decline in same-store sales. EPS easily topped analysts’ consensus estimates while sales were below.
DSW’s Parent Sees Q4 Comp Decline 5.5 Percent
Designer Brands, Inc., the parent of DSW, reported earnings on an adjusted basis declined 60 percent in the fourth quarter ended January 28 as same-store sales dropped 5.5 percent. Earnings still came ahead of analyst estimates and earnings and sales showed strong improvement overall in 2022.
February Retail Sales Rise 5.4 Percent Year-Over-Year
Overall retail sales dipped slightly in February, but core spending rose, according to data reviewed by the National Retail Federation.
Nike To Stop Using Kangaroo Leather In Soccer Cleats
Nike reported it would stop using kangaroo leather in its shoes amid moves from U.S. state and federal lawmakers to ban the sale of kangaroo products.
Pou Sheng International Appoints CEO
The Pou Sheng International (Holdings) Limited board of directors re-designated Wang Jun, the acting CEO, as CEO effective March 15.
Marriott Appoints Dick’s CEO To Board Seat
Marriott International, Inc. elected Lauren Hobart, president and chief executive officer of Dick’s Sporting Goods and Grant F. Reid, former president and chief executive officer of Mars, as independent directors.
