SGB Update Footwear

Nordstrom Sets Plans for More Rack Locations in Ohio

With the addition of this new location in Mason, OH and a location opening in Macedonia, OH in spring 2024, Nordstrom will operate eight Nordstrom Rack stores and three Nordstrom stores in Ohio. The store is scheduled to open in fall 2024.

Adidas Opens New Fully Automated Distribution Center in China

The fully automated warehousing and distribution center in Suzhou, China, covering an area of 139,000 square meters, is said to “set a new industry standard with its high degree of speed and flexibility in warehousing logistics.”

MycoWorks Opens New South Carolina Factory

MycoWorks, a company developing a fungal-based biomaterial that it said could replace leather, began production at its new manufacturing facility in Union, SC. The  San Francisco-based biomaterials start-up said its now set to grow millions of square feet of its leather-alternative material produced with the company’s proprietary technology, Fine Mycelium.

Allbirds Completes International Distributor Deals

Allbirds, Inc. completed its previously announced agreement with distributor partners in Canada and South Korea. In-Sport Fashions, Inc. is now the brand’s exclusive Canadian distributor and EFG Corp. is its exclusive distributor in South Korea.

Saks Survey Indicates Early Signs of Luxury Spending Rebound

Saks’ latest Saks Luxury Pulse survey, fielded in late July, found that 58 percent of luxury consumers plan to spend the same or more on luxury in the next three months. This is an increase from 53 percent in the prior Saks Luxury Pulse fielded in late April, and represents the first increase in luxury spending plans since the survey began tracking this in May 2022.

Five Below Adds Genesco’s CEO to Board

Five Below, Inc. appointed Mimi Vaughn, currently president, chief executive officer and chair of the Board of Genesco Inc., as an independent member of its Board of Directors.

Authentic Brands’ Debt Ratings Upgraded by Moody’s

Moody’s Investors Service upgraded the debt ratings of Authentic Brands Group to reflect the conglomerate’s “solid” operating performance, increasing scale benefits and improving debt leverage.

Sportsman’s Warehouse Appoints New Board Member

Steven Sansom is a corporate executive with over 30 years of experience in high-growth businesses. He has served as founder and chairman of Steel Grove Capital Advisors and Steel Grove Family Office in Memphis, TN since September 2001.