Yue Yuen’s Sales Fall In March
Yue Yuen reported consolidated operating revenue fell 11.2 percent to $773.5 million in March dragged down by a steep decline at its Pou Sheng’s retail segment.
Report: Kohl’s Sees Offer From Franchise Group
Franchise Group, Inc., the owner of The Vitamin Shoppe, Buddy’s Home Furnishings and other retail chains has offered $9 billion, or $69 a share, to acquire Kohl’s Corp, sources told Reuters.
T&C Surf Names New President
Craig Sugihara, founder and owner of T&C Surf Designs, appointed his son Ryan Sugihara president.
Kohl’s Sends Letter to Shareholders Highlighting Strong Board
Kohl’s, which is facing an activist shareholder seeking to overhaul its board, mailed a letter to shareholders detailing how its “highly qualified Board of Directors that has the necessary skills to oversee Kohl’s evolving strategy.”
Brooks Appoints Chief Running Advisor
Brooks has named the two-time US Olympian Des Linden as its new chief running advisor to further support its innovation efforts. Linden will help the running brand conceive and create new products and technology.
Report: Birkenstock Pressuring Retailers To Stop Selling Alleged Copycats
Birkenstock is pressuring retailers to stop selling similar styles from other brands, according to The Wall Street Journal. Nordstrom and Zappos are among those that have reportedly stopped carrying some such styles from Mephisto, Naot, Freedom Moses and Viking Sandals.
Mastercard SpendingPulse: U.S. Retail Sales Grow 8.4 percent in March
According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, total retail sales, excluding auto, increased 8.4 percent year-over-year (YOY) in March and 18.0 percent compared to pre-pandemic spending (2019), not adjusted for inflation.
U.S. Ports Seeing Brief Slowdown From Last Year But Imports Remain High
The nation’s major retail container ports have begun to catch up with the backlog of cargo seen over the past several months but could experience another surge this summer, according to the monthly Global Port Tracker report released by the National Retail Federation.
Designer Brands Sets $4 Billion Goal For Fiscal 2026
Designer Brands, the parent of DSW, raised its EPS outlook for the current year and established a goal of reaching $4 billion in sales by fiscal 2026. The update comes as the company on Friday holds an Investor Day Event.
NPD And IRI To Merge
The NPD Group (NPD) and Information Resources, Inc. (IRI) announced the signing of a definitive agreement to merge the two companies. The transaction is expected to close in the second half of 2022.
Nike To Open Technology Center In Atlanta
Nike plans to open a technology center in Atlanta in a major expansion in the area, according to the Atlanta Business Chronicle.
The Buckle’s Comps Drop 10 Percent In March
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 5-week period ended April 2, 2022, decreased 9.7 percent.
Zappos.com Appoints CEO
Zappos.com announced the promotion of Scott Schaefer to CEO effective immediately. Schaefer, a long-tenured leader in the company, has been acting CEO since December 2021.
A Cleaner Vision For Footwear Manufacturing With Ortholite’s GM and VP, Ortholite Cirql
— Sponsored content — OrthoLite unveiled a new sustainable midsole innovation in March called Cirql, which is the first EVA plastic-free, recyclable, biodegradable, and industrially compostable foam with an end of life solution. General Manager and Vice President of Cirql, Matt Smith, outlines the new business unit and when the industry can expect to see the product in […]
Merrell Launches Takeback And Resale Program
Merrell is launching a multinational product takeback and resale program called Merrell ReTread. The program, which launches in April in the US and Canada in a partnership with ReCircled, allows consumers to give back Merrell footwear.
