SGB Update Apparel
New Guards Group Appoints SVP/GM for Reebok Europe
The fashion group owned by Farfetch Limited hired Adidas veteran Markus Kleber as SVP/GM of Reebok Europe and Reebok Ltd. Farfetch recently announced it would not report Q3 results and canceled guidance.
Strava Appoints Former Nike Exec as CEO
The company hired Michael Martin as CEO, replacing outgoing CEO, Michael Horvath. Martin will also join the Strava Board upon assuming the role on January 2, 2024. Currently, Martin serves as the GM of YouTube Shopping.
CNBC/NRF: Strong Retail Sales Gain for First Half of Holiday Season
According to CNBC/NRF Retail Monitor, the holiday shopping season began with a strong start in November as retail sales with total retail sales, excluding automobiles and gas, up 0.77 percent seasonally adjusted month over month and up 4.24 percent unadjusted year-over-year.
Macy’s Receives $5.8 Billion Buyout Offer
An investor group consisting of Arkhouse Management and Brigade Capital made a $5.8 billion offer to take Macy’s private, according to the Wall Street Journal.
Gildan Activewear Names New CEO as Chamandy Exits
Gildan Activewear, Inc. President, CEO and Board Director Glenn J. Chamandy reportedly left the company, and Vince Tyra has been appointed president and CEO, effective February 12, 2024.
Levi Strauss Moves Toward CEO Transition in 2024
CEO Chip Bergh announced his retire from the company effective April 26, 2024. Michelle Gass, company president, will succeed Bergh as president and CEO, effective January 29, 2024.
NRF: Imports Peaked in October, Volume Expected to Increase in 2024
Inbound cargo volume at the major container ports in the U.S. will continue to slow during the final weeks of 2023 after peaking later than expected in the fall, according to the Global Port Tracker* report released by the NRF and Hackett Associates.
NRF: Economy Delivers “Vigorous Growth” Despite Slowdown
According to the National Retail Federation’s Chief Economist Jack Kleinhenz, after a challenging year, the economy remains healthy despite slowing.
Delta Apparel Posts Wider Fiscal Q4 Loss as Sales Fall 21 Percent
Salt Life Group segment net sales were $12.5 million in Q4, compared to prior-year fourth quarter net sales of $14 million. Net sales in the Delta Group segment were $78.9 million in Q4, compared to $101.5 million in the prior-year fourth quarter.
Lululemon’s Q3 Earnings Dip On Charge Tied to Mirror Shutdown
Lululemon Athletica, Inc. reported earnings declined slightly due to a charge related to its move to discontinue its Mirror platform as part of a new partnership with Peloton. Excluding the charge, earnings and sales topped guidance for the third straight quarter and Lululemon again lifted its outlook for the year.
Tanger Acquires First Open-Air Lifestyle Center
Tanger acquired Bridge Street Town Centre in Huntsville, AL for $193.5 million using cash on hand and available liquidity. Management expects the center to deliver a first-year return in the mid-eight percent range, with potential for additional growth over time.
ICSC Board of Trustees Elects New 2024 Chair and Vice Chair
The ICSC Board of Trustees elected Jim Taylor, president & CEO, Brixmor Property Group, to serve as ICSC’s chairman and Angele Robinson-Gaylord, SVP, store development americas, Starbucks, to serve as vice chairman for the 2024 term.
Lands’ End Posts Wider Q3 Loss on Double-Digit Sales Decline
Third quarter net revenue decreased 12.5 percent to $324.7 million and the net loss was $112.4 million, or $3.52 loss per diluted share, compared to net loss of $4.7 million, or 14 cents loss per diluted share, in the third quarter of fiscal 2022.
Tommy Bahama Parent Gets Q3 Sales Boost from Johnny Was
Oxford Industries, Inc., the parent of the Tommy Bahama, Lilly Pulitzer and Johnny Was brands, reported that consolidated net sales in the fiscal third quarter increased 4 percent to $327 million. Still, the company moderated its full year sales and EPS guidance.
Clarus Sees Potential Recovery of $46 million from Shareholder Derivative Lawsuit
Clarus Corp. reported it sees the potential recovery of $46.2 million related to a lawsuit it filed against HAP Trading, LLC and Harsh A. Padia regarding the recovery of short-swing profits in violation of securities laws.
