Topo Designs Names New CEO
Topo Designs, the Colorado-based outdoor brand, promoted Matt Williams, effective immediately, to CEO. Previously Williams was the company’s chief operating officer. He succeeds Co-Founder Mark Hansen, who is retaining his seat on Topo Designs’ Board of Directors.
Nordstrom Rack to Open Store in Queen Creek, AZ
Nordstrom, Inc. plans to open a new Nordstrom Rack in spring 2024 in Queen Creek, AZ. Nordstrom Rack is the off-price retail division of Nordstrom, Inc.
Camping World To Acquire RV Arizona
Camping World Holdings, Inc. plans to acquire RV Arizona Consignment Specialists in El Mirage, AZ, with a close date in Q4 2023.
EXEC: Analysts Gaining Confidence in Adidas’ Turnaround
While some still see an uphill battle for Adidas to regain share in the competitive landscape, the majority of analysts covering the stock were encouraged by the progress the company made in the second quarter toward a turnaround, including building momentum in its underlying business on the back of the “terrace” trend.
NRF Launches Center for Digital Risk and Innovation
The Center is expected to serve as the focal point for NRF’s engagement on technology issues that have significant policy and risk management implications for the global retail industry.
BRC: British Retail Foot Traffic Recovers as Outlets Fuel Growth
The data shows that much of the footfall recovery in July was shored up by strong performance in outlet retail, as shoppers turn to discount formats to make spend go further.
EXEC: Solo Brands Sees Big Pay-Off at Retail as Q2 Wholesale Jumps
For a company identified by the symbol “DTC” on the NYSE, the conversation for the quarter was interesting as the growth in the wholesale business overshadowed, but did not offset, the decline in its direct-to-consumer business.
EXEC: Johnson Outdoors Battles Post-Pandemic Slowdown
Johnson Outdoors’ overall profitability benefited from improved pricing in the fiscal third quarter ending June 30, but sales were down 8 percent from a slowdown in the Fishing segment and a continued decline in Camping and Watercraft Recreation. On a call with analysts, Helen Johnson-Leipold, chairman and CEO, said, “We’re seeing consumer demand continue to moderate from the strong pandemic-fueled levels of the past few years.”
Xero Shoes CPO, Dennis Driscoll, Retiring After 44-Year Footwear Career
Long-time global footwear industry veteran Dennis Driscoll is retiring on September 1 after more than 44 years. He has served as chief product officer for Xero Shoes since 2012.
EXEC: L.L.Bean Expands Wholesale to Dillard’s, Moosejaw and Select Independents
L.L.Bean is adding Dillard’s and Moosejaw to its roster of U.S. wholesale key accounts, as well as ten independent specialty retailers in the southeastern U.S. The Maine-based retailer also plans to open four stores, with two in Quebec.
Yamaha Marine Looks to Suzuki for Technology Chief Role
The Yamaha U.S. Marine Business Unit hired Grant Suzuki as chief of technology, Advanced Marine Systems, focused on leading and building-out Yamaha’s C.A.S.E. strategy.
Newell Brands Debt Ratings Downgraded
S&P Global Ratings lowered its debt ratings on Newell Brands, Inc. due to its expectations that the company’s debt leverage would remain higher for longer after a weak first half of 2023 and finish the year at well over 5.5x.
EXEC: GoPro Gets Q2 Sales Lift on Lower Prices, Return to Retail Doors
GoPro said it saw an immediate retail sales and GoPro subscription lift in the second quarter as a result of its mid-quarter go-to-market strategy shift that included a return to pre-pandemic pricing and a greater emphasis on retail sales.
REI Co-op to Open Store in Beaverton, OR
REI Co-op reported it plans to open a store in Beaverton, OR in spring 2024. As the anchor tenant at Walker Center, the store’s footprint will be 39,512 square feet at 2780 SW Cedar Hills Boulevard.
Delta Apparel Logs Q3 Loss As Sales Decline Double-Digits
Delta Apparel Inc. posted a loss in the fiscal third quarter ended July 1 due to efforts to reduce production levels to rebalance inventories in the marketplace as well as from inflationary pressures on cotton. Delta said the inventory and inflationary pressures are receding.
