Costco Comps Grow 3.4 Percent in January ex-Fuel
Net sales were $22.08 billion for the retail month of January, the five weeks ended February 4, 2024, an increase of 4.5 percent from $21.13 billion in January last year.
EXEC: VF Sees The North Face Fiscal Q3 Results “Worse Than Expectations”
Global revenue for The North Face was down 10 percent (-11 percent CC) to $1.19 billion in the quarter. Excluding a wholesale shipment timing shift, The North Face’s revenue would have reportedly declined in the mid-single-digits. DTC was up in mid-single-digits for Q3.
EXEC: VF Execs Outline Progress Against Transformation Plan, Brand and Region Review
The big jobs ahead are based on fixing the overall Americas business and delivering a turnaround in the Vans business. The key objective of the Reinvent program involves cutting costs and building the balance, which is reportedly both well underway.
Outdoor & Sports Company Appoints Managing Director for North America
Bill Supple joined OSC in a consulting capacity as director of brand and business development for Mountain Equipment in the U.S. in 2019.
GoBoat Fish Unlocks New Access for Fishing and Outdoor Enthusiasts
A personal inflatable disk boat aimed to “revolutionize the way fishing and adventure enthusiasts experience their aquatic adventures.”
VF Corporation CFO Stepping Down After 23-Year Run with Company
CFO Matt Puckett will be stepping down later this year. He will stay on until a new CFO is appointed to help ensure a smooth transition.
VF Corp. Sees Q3 Business Decline Accelerate; Will Conduct Strategic Review of Brands
The 16 percent year-over-year decline was an acceleration of the decline in the business, which was down just 2 percent in the fiscal second quarter when new CEO Bracken Darrell sounded the alarm that all was not well in the business.
Tactics Opening First Location Outside of Oregon
The Oregon-based skateboarding and snowboarding specialty retailer is adding a new store in the Ballard neighborhood of Seattle, WA. The opening is planned for early summer 2024.
Nordstrom to Open 18th Rack Store in Illinois in Spring 2025
The 25,000-square-foot store will be located in Randall Square, adding to the four Nordstrom stores and 17 Nordstrom Rack stores in Illinois at press time.
Amer Sports Company Launches New Senior Secured Notes Offering
The net proceeds from the offering of the Notes and the expected net proceeds from the New Senior Secured Credit Facilities are expected to repay all outstanding indebtedness under the company’s existing credit facilities, which will be terminated.
Costco Wholesale Appoints New CFO as Galanti Moves to Advisory Role
The Costco Board of Directors named Gary Millerchip EVP and CFO, effective March 15. He is the SVP and CFO at The Kroger Co. Galanti will remain with Costco through January 2025 in an advisory role and will continue on the Board of Directors.
Vail Resorts Adds European Board Member as Global Expansion Looms
Originally from Munich, Germany, Knobloch resides in Paris, France and is president of the Cannes Film Festival. She started her career practicing law in Munich, New York and Los Angeles and went on to have a 25-year career in various leadership roles at WarnerMedia.
Whyte Bikes Appoints Cannondale Vet as New CEO
Nikki Hawyes was appointed CEO, replacing Ed Culley, who is departing for a new role. Concurrently, Jonathan Neale, the former COO of McLaren Group and CEO of McLaren Racing, was appointed chairman of the Board of Directors, replacing David Hill.
Accell Group to Consolidate Manufacturing Footprint, Cut Staff
In adjusting its operating model from a decentralized “house of brands” to an integrated player in the bicycle industry, Accell Group said it intends to better leverage its strong European manufacturing footprint, decrease operational complexity and improve its competitive position.
Obviouslee Grows Outdoor Strategy Team
National marketing agency taps industry veteran Joe Jackson, promotes Andrew Piasecki to co-lead its outdoor team.
