Feetures Announces CEO Transition
Feetures, the family-owned and operated sock manufacturer, announced that John Gaither, who has been the company’s COO, would succeed his father, Hugh Gaither, founder and CEO, effective January 1, 2023. Hugh Gaither will evolve his role as chairman of Feetures’ executive committee.
REI To Open In Marina Del Rey
REI Co-op will open a new store in Marina del Rey in spring 2023. The 24,000-square-foot site is the retailer’s 30th store in California.
On Adds Apparel To Resale Program
Swiss running brand On has added men’s and women’s apparel to its resale program. The move follows the September launch of Onward resale site and online trade-in program initially focused on footwear.
Jack Wolfskin Hires New Leadership For UK And Nordic Regions
Jack Wolfskin hired new leadership for the UK and Nordic regions to align with the company’s global growth strategy, firs reported in 2021.
Nexgen Packaging Names CEO
Nexgen Packaging, a provider of packaging for the retail, apparel and footwear industries, hired James Welch as CEO. Welch assumed the role in October, after having been the company’s co-CEO since June 2021. Co-founder Andy Effron moved from the co-CEO role to the chairman.
Shopify Merchants Break Black Friday Records With $3.36 Billion In Sales
Shopify, Inc. reported a record-setting Black Friday with global sales of $3.36 billion from the start of Black Friday in New Zealand through the end of Black Friday in California—marking a 17 percent increase in sales over Black Friday in 2021, 19 percent on a constant-currency basis.
Black Friday Online Sales Hit Record $9.12 Billion
U.S. shoppers spent a record $9.12 billion online this Black Friday, according to Adobe Analytics, which tracks sales on retailers’ websites. That’s a 2.3 percent increase compared to $8.92 billion in 2021 and also up from $9.03 billion the in 2020.
Mastercard SpendingPulse: Black Friday Sales Climb 12 Percent
According to Mastercard SpendingPulse, U.S. retail sales on Black Friday were up 12 percent year-over-year, excluding automotive, in-store sales increased 12 percent year-over-year, and e-commerce sales experienced sustained growth, up 14 percent.
Designer Brands Expands Board With Two New Members
Designer Brands Inc., the parent of DSW, announced two new appointments, Rich Paul and Tami J. Fersko, to its Board of Directors.
Asics Buys Njuko Sas Of France
Asics Corp. acquired Njuko SAS, a race registration platform for running events in Europe. With the acquisition of Njuko, Asics offers race registration services worldwide.
Allbirds Opens Store In Boston’s Prudential Center
Allbirds opened one of its largest stores in the Prudential Center in Boston. This is the retailer’s fifth site in the state offering 3,700 square feet of selling space.
Soccer Post Receives Investment From Private Equity Firm
Soccer Post, the largest chain of soccer specialty stores in the U.S., has secured an investment from TZP Group, the private equity firm. Soccer Post announced that Alex Morgan, the American professional soccer player, has become an investor and brand ambassador.
Burlington Stores Sees Profits Fall In Third Quarter
Burlington Stores, Inc. reported earnings on an adjusted basis fell 69.9 percent in the third quarter ended October 29, reaching the lower end of guidance. Comparable store sales decreased 17 percent.
Nordstrom Records Loss In Third Quarter
Nordstrom, Inc. reported a third-quarter net loss of $20 million, or 13 cents a share, for the quarter ended October 29, 2022. Excluding a supply chain technology and related asset impairment charge, the company reported adjusted earnings per diluted share of 20 cents.
Genesco Appoints Board Members
Genesco, Inc. appointed two independent directors, Matthew M. Bilunas, chief financial officer, Best Buy Co., Inc., and Carolyn Bojanowski, executive vice president of merchandising, Sephora USA, to Genesco’s Board of Directors, effective January 29, 2023, the beginning of its fiscal year.
