Amazon Plans to Hire 250,000 Holiday Workers, Same As Last Year
Amazon aims to add 250,000 U.S. seasonal employees during the 2024 holiday season, matching its target number from 2023.
Fear Of God CEO to Lead Everlane
Alfred Chang, the CEO of luxury streetwear brand Fear of God, was appointed CEO of Everlane. The company was founded in 2010 by Michael Preysman and Jesse Farmer with the mission of selling clothing with transparent pricing.
EXEC: Post Earnings Call, Analysts See Slow Recovery for Nike
Shares of Nike, Inc. fell about 7 percent on October 2. SGB Media spoke with eleven Wall Street analysts to explore Nike’s turnaround prospects. Several remain bullish on Elliot Hill’s return as CEO; however, a return to healthy growth might only happen in calendar year 2026.
CCM Hockey Agrees to Acquisition by European PE Firm Altor
The Canadian equipment brand owned by Birch Hill Equity Partners agreed to be acquired by the Swedish private equity firm Altor. The transaction is expected to close by the end of 2024.
EXEC: Rip Curl and Oboz Parent Taps Former Nike Exec as New CEO
The parent company to the Rip Curl, Oboz and Kathmandu brands has named former Nike executive and current KMD Board member Brent Scrimshaw as its new group CEO. Michael Daly has given notice to the Board of his resignation.
Kizik Secures Japan and Canada Distribution
The hands-free footwear brand announced its expansion into Japan and Canada through strategic partnerships with Marubeni Consumer Brands Inc. and Kanner Corporation.
EXEC: Nike Signals Uphill Struggle as New CEO Settles In
On Nike’s first-quarter analyst call, Matt Friend, EVP and CFO, said Nike is finding success with some new products, particularly in running, and the hiring of Nike veteran Elliott Hill as CEO was enthusiastically received by Nike’s employees. However, he warned that business conditions worsened in the quarter with online traffic, retail sales across the marketplace and spring orders all coming in lighter than planned.
Foot Locker Partners to Expand into India
Foot Locker launched operations in India for the first time through licensing arrangements with Metro Brands Ltd operating Foot Locker physical stores and Nykaa Fashion operating the e-commerce business.
EXEC: U.S. Now Largest Region for JD Sports; Finish Line Banner to Retire
The parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail brands in the U.S. and JD and others worldwide saw revenue grow 5.2 percent to £5.03 billion in the first half, including £61 million from 10 days of Hibbett sales.
Shoes For Crews Names New Board Members
A global provider of slip-resistant safety footwear products, announced the selection of its new board of directors, which includes Donald Watros, Jame Donath, Chris Quinn, and Colin Browne. This new board brings years of experience working in the footwear, financial services and consumer product industries.
Nike Crushes Q1 EPS Targets, Warns of Guidance Adjustment
Nike Inc. reported earnings for its first quarter handily topped Wall Street targets, but said it was postponing its upcoming Investor Day and indicated it “would address its approach to guidance” on its quarterly analyst call in light of the appointment of Nike veteran Elliott Hill as CEO. Sales in the quarter were down 10 percent with declines of 13 percent in direct and 8 percent in wholesale channels.
Nordstrom Rack to Open New Store in Massachusetts
The 25,000-square-foot Nordstrom Rack will open in the fall of 2025 in the The Landing at Hyannis. Nordstrom operates seven Nordstrom Rack stores in Massachusetts, generating over 900 jobs statewide.
Authentic Names Brand Partners Supporting Champion Brand
Authentic Brand Group announced that GearCo, BBC and AMG Companies will serve as its primary vendor partners supporting its just-closed acquisition the Champion brand.
Dockworkers Now on Strike at East and Gulf Coast Ports
The strike spans from Maine to Texas and blocks everything from food to auto shipments across dozens of ports. Analysts have warned that this could cost the economy billions of dollars a day, threaten jobs and potentially stoke inflation.
Moncler to Open New York City Flagship
The location will represent the largest store for the Italian outerwear brand worldwide and follows the announcement that French luxury group LVMH Moet Hennessy Louis Vuitton would invest in Moncler in a deal that gives it a seat on the company’s board.
