Foot Locker Relaunches Rewards Program
FLX Rewards program will receive upgrades to its mobile app. FL describes the moves as “significant milestones under its Lace Up Plan.” The rollout in the U.S. follows a successful pilot of the program in Canada in 2023.
Birkenstock Employees and Majority Investor Selling 14M Shares
The company, which went public in October 2023, plans to sell 14 million shares in a secondary public offering of the BIRK shares. The shares will be sold by L Catterton and Birkenstock employees.
Amazon’s Annual Prime Day Returns in July
Over the course of last year, Amazon customers saved nearly $24 billion from deals and coupons—with Prime members enjoying the vast majority of those savings—including over $2.5 billion during Prime Day 2023,
UK Retail Sales Rebound in May
Retail sales in the United Kingdom rose 2.9 percent in May, up from a revised 1.8 percent fall in April, the Office for National Statistics said.
Target Corporation Shifts Senior Merchant and Marketing Roles
Christina Hennington, currently chief growth officer, has been named chief strategy and growth officer, Rick Gomez has been appointed chief commercial officer, and Lisa Roath, current CMO, will take on the role of chief merchandising officer of food, essentials and beauty,
Fleet Feet Opens in North Augusta, SC
The store is the second for owners and operators Michael and Jenafer McCauley, who opened their first store in Augusta, GA, 15 years ago.
JCPenney Posts Wider Q1 Loss as Sales Slide 8 Percent
J.C. Penney’s net loss in the first quarter ended May 4 more than tripled to $63 million from $17 million a year ago, according to a financial filing. Sales in the period slumped 8.1 percent to $1.37 billion from $1.49 billion a year ago.
Sports Direct Owner Acquires Luxury Website
Frasers, the U.K.-based parent of Sports Direct, has acquired Coggles, an online seller of designer fashion, from THG as part of a multi-year partnership that also includes Frasers using THG’s technology in some parts of its business.
Target+ Opens to Shopify Sellers in New Partnership
Target Corp. unveiled a new partnership with e-commerce platform Shopify aimed at expanding its digital marketplace offerings. Beginning June 24, merchants currently utilizing Shopify’s services can apply to join Target+, the retailer’s third-party marketplace.
Under Armour Reaches $434 Million Settlement in Shareholder Lawsuit
Under Armour Inc. agreed to pay $434 million to settle a 2017 lawsuit into claims that the company defrauded shareholders about its revenue growth in order to meet Wall Street forecasts.
Nike Faces Shareholder Lawsuit Over DTC Strategy
A Nike, Inc. shareholder has filed a securities class action in the District of Oregon’s Portland division, claiming the company misled investors about the financial effects of prioritizing direct-to-consumer sales. Plaintiffs are seeking class-action status, an unspecified amount in damages and a jury trial.
EXEC: Rip Curl, Oboz Parent KMD Brands Sees Weaker-Than-Expected End to Fiscal Year
The parent company to the Rip Curl, Oboz and Kathmandu brands reported a slower-than-expected start to the winter promotional season for Kathmandu and noted that Rip Curl and Oboz wholesale customers continue to reduce their inventory holdings.
Puma Releases Teveris G Spikeless Golf Shoe
The Teveris G is a lifestyle shoe, drafted from the early 2000s, the era trending in today’s fashion scene.
Report: Retail Sales Show Signs of Stabilization in May
The latest report from Circana reveals that U.S. retail sales, encompassing discretionary general merchandise and consumer packaged goods (CPG), have experienced a 1 percent growth, with consumers adapting their spending habits in response to moderating price pressures.
Athleta Hires Former Nike Exec to Lead Design
Athleta has hired Tania Flynn, formerly VP of apparel design at Nike, as head of design.
