SGB Update Apparel
Target’s Holiday Comps Miss Plan
Target reported same-store sales were up 1.4 percent for the holiday season, below the chain’s forecast of 3 to 4 percent growth and well below holiday 2018’s 5.7 percent comp performance.
Gap Inc. No Longer Pursuing Separation Of Old Navy
Gap Inc. announced that the company no longer intends to separate Old Navy into a standalone public company. The company also announced that Neil Fiske, president and CEO of Gap brand, will leave the company.
Emerald Expositions Appoints CFO
Emerald Expositions Events Inc., the parent of Surf Expo, Outdoor Retailer and other trade shows, announced that David Doft will become its chief financial officer.
Fanatics Signs 10-Year Partnership With Notre Dame
Fanatics has formed a 10-year alliance with the University of Notre Dame to become the university’s primary apparel, headwear, and hard goods partner starting in January 2021. The Notre Dame athletics’ apparel partnership with Under Armour will remain unchanged.
Industry Groups Welcome USMCA Trade Deal Signing
OIA, NRF, AAFA and FDRA were among the trade associations that welcomed Thursday’s Senate passage of the U.S.-Mexico-Canada (USMCA) Agreement.
Michael Avenatti, Facing Nike Trial, Arrested In California
Michael Avenatti, the celebrity lawyer accused of extorting Nike for up to $25 million, was arrested Tuesday evening while appearing before the State Bar Court in Los Angeles. A Los Angeles judged ruled Wednesday that he will remain in jail after prosecutors alleged he continued to commit financial crimes while out on bail.
Canadian Tire Appoints CFO And New Leader Of Banking Unit
Canadian Tire Corporation Limited announced two senior executive appointments: Gregory Craig as executive vice-president and chief financial officer (CFO), CTC; and Mahes Wickramasinghe as president, Canadian Tire Financial Services (CTFS) and president and CEO, Canadian Tire Bank.
Industry Groups Welcome Phase One Trade Deal Signing
A number of retail and industry groups – including OIA, NRF, FDRA, AAFA and RILA – welcomed the signing of the phase one trade deal between the United States and China. Many renewed calls for the administration to promptly conclude a phase two deal to lift all punitive tariffs.
Rates Keep Rising At Western Mountain Resorts
Generous snowfall and good slope conditions throughout most of the U.S. western resorts along with less than ideal conditions in other regions is helping to buoy lodging rates even as occupancy figures continue to slip, according to DestiMetrics’ monthly Market Briefing from Inntopia.
Former Fanatics Executive Joins Afterpay
David Katz, most recently senior vice president of product management and design at Fanatics, has joined Afterpay.
PGA Tour Superstore To Open Three Stores This Spring
PGA Tour Superstore said it will open three new stores this spring: East Hanover, NJ, Palm Beach Gardens, FL, and Columbus, OH; and is looking to open additional stores later in the year.
Jim Pisani Steps Down As Timberland’s President
VF Corporation announced that Jim Pisani has decided to step down from his role as global brand president, Timberland. He plans to move to the Midwest U.S. to be closer to his family.
New Era Cap Celebrates 100 Years
New Era Cap Co. will be celebrating its 100th year anniversary with special collections, new global partnerships and an exhibition at the Buffalo History Museum. Said Chris Koch, president and CEO of New Era Cap, in a statement, “We are extremely proud of our heritage and excited about the momentum we have as we embark on our next 100 years.”
Adidas Continues Share Buyback Program With Third Tranche
Adidas announced the start of the third tranche of its current multi-year share buyback program initially announced in March 2018 and intends to repurchase own shares worth up to €1.0 billion in 2020.
Nike Donates $5 Million To Create Athletic Facility At Obama Presidential Center
The Nike Foundation made a $5 million contribution to help build an athletic facility at the planned Obama Presidential Center on the south side of Chicago. It will be the first presidential center to feature an athletic facility.
