SGB Update Footwear
Shoe Carnival’s Chief Merchant to Retire Next Spring
Carl Scibetta, senior executive vice president and chief merchandising officer, plans to retire in spring 2025 after working for over 50 years in the retail industry.
Salomon Opens Pop-Up In New York City, Plans Store Openings
The brand’s first store in SoHo, will serve as a test for Salomon as it plans to open five stores in 2025, beginning with a permanent space in New York City.
Dawgs Secures Federal Circuit Win Against Crocs
Dawgs and parent Double Diamond Distribution Ltd. reported that Crocs must return to court to face allegations it violated federal false advertising laws with promotional claims that its shoes are made of “patented” materials.
Report: Growing Participation Rates Supporting Outdoor Rec Sales and M&A
Capstone suggested that financial performance across the sector is expected to improve as firms work through excess inventories, limit promotion activity, and mitigate margin pressures.
Academy Sports’ Debt Ratings Raised by S&P
S&P Global Ratings raised Academy Sports And Outdoor Inc.’s debt rating because the retailer has sustained S&P’s adjusted leverage well below the 2x area despite modest EBITDA margin contraction.
REI to Close Again on Black Friday, Encourage ‘Nature Therapy’
REI Co-op will again close all stores, distribution centers, activity centers, call centers, and headquarters on Thanksgiving and Black Friday Outdoor and pay its employees to spend the day outside.
Dick’s SG to Hire Fewer Seasonal Workers This Year
The retailer plans to hire nearly 8,000 seasonal workers for this year’s holiday season, a step back from the 8,600 planned hires in 2023. A steady decline in employee turnover since 2021 led DKS to a decrease in the number of seasonal workers this year.
Report: Holiday Shopping Intentions Driven by Consumer Optimism, Quest for Value
This year’s household food and grocery costs will impact holiday shopping for 62 percent of consumers, but more holiday shoppers, 57 percent, feel positive about personal finances than in 2023.
Amazon Plans to Hire 250,000 Holiday Workers, Same As Last Year
Amazon aims to add 250,000 U.S. seasonal employees during the 2024 holiday season, matching its target number from 2023.
Fear Of God CEO to Lead Everlane
Alfred Chang, the CEO of luxury streetwear brand Fear of God, was appointed CEO of Everlane. The company was founded in 2010 by Michael Preysman and Jesse Farmer with the mission of selling clothing with transparent pricing.
Kizik Secures Japan and Canada Distribution
The hands-free footwear brand announced its expansion into Japan and Canada through strategic partnerships with Marubeni Consumer Brands Inc. and Kanner Corporation.
Foot Locker Partners to Expand into India
Foot Locker launched operations in India for the first time through licensing arrangements with Metro Brands Ltd operating Foot Locker physical stores and Nykaa Fashion operating the e-commerce business.
Shoes For Crews Names New Board Members
A global provider of slip-resistant safety footwear products, announced the selection of its new board of directors, which includes Donald Watros, Jame Donath, Chris Quinn, and Colin Browne. This new board brings years of experience working in the footwear, financial services and consumer product industries.
Nike Crushes Q1 EPS Targets, Warns of Guidance Adjustment
Nike Inc. reported earnings for its first quarter handily topped Wall Street targets, but said it was postponing its upcoming Investor Day and indicated it “would address its approach to guidance” on its quarterly analyst call in light of the appointment of Nike veteran Elliott Hill as CEO. Sales in the quarter were down 10 percent with declines of 13 percent in direct and 8 percent in wholesale channels.
Nordstrom Rack to Open New Store in Massachusetts
The 25,000-square-foot Nordstrom Rack will open in the fall of 2025 in the The Landing at Hyannis. Nordstrom operates seven Nordstrom Rack stores in Massachusetts, generating over 900 jobs statewide.
