SGB Footwear

Li & Fung Acquires UK-Based Hosiery Supplier Orrsum

Hong Kong-headquartered supply chain management company Li & Fung has acquired Orrsum, a UK-based manufacturer of hosiery, underwear and loungewear, for an undisclosed amount.sed sum. Founded in 1998, Orrsum reports that it produces over 50 million pairs of socks for distribution to more than 5,000 retail doors worldwide each year.

Centric Brands Appoints President of Kid’s Division

Based in New York, Rob Smith will report directly to CEO Jason Rabin as president of the company’s Kids’ Division and join the company’s executive leadership team. He replaces Steve Pinkow who has served as Kid’s Group president for 17 years.

Raleigh’s Runologie Shutters

The only independently owned and operated specialty running store in Raleigh was located at 1614 Automotive Way near the Mordecai neighborhood. The store closed on June 30

Lululemon Opens First Store in Italy

Located at Vittorio Emanuele II 24/28, the store spans roughly 5,700 square feet across two floors and officially opens July 19. The store’s product line supports yoga, running, training, tennis, and golf.

June Retail Sales Top Expectations

Retail sales rose a better-than-expected 0.6 percent in June versus May, the Commerce Department reported, after two consecutive months of spending declines. June’s number topped the 0.2 percent gain economists projected in a FactSet poll. 

NRF’s Chief Economist Transitions to Senior Economic Advisor

The National Retail Federation announced on Thursday, July 17, that Jack Kleinhenz, NRF’s chief economist since 2010, is stepping down to serve in a new capacity as senior economic advisor. NRF Executive Director of Research Mark Mathews will become NRF’s new chief economist while continuing to lead the research team.

Saks Global Appoints CFO

Saks Global appointed Brandy Richardson, formerly at Tailored Brands and Neiman Marcus, as chief financial officer, effective August 18.