SGB Update Footwear
VF Appoints New Chief Accounting Officer
Michael Phillips succeeds Bryan McNeill, who is retiring after 30 years with the company. Phillips has served as the VP Enterprise Financial Reporting controller of the company since September 2022.
Nike’s Design and Innovation Chief John Hoke to Retire in the Fall
John Hoke, Nike’s chief innovation officer, is retiring after serving in the role since 2023. He first worked at Nike on stores and fixtures before getting into footwear. An architect by training, he is credited with designing a NikeTown store and buildings on the Nike campus.
Costco Wholesale Misses on Q3 Top-Line as Discretionary Spending Weakens
The miss on the comparable sales line was said to be due to consumers paring back on large purchases, especially of non-essential goods such as home furnishings, as discretionary spending continues to weaken.
Arc’teryx Parent Amer Sports Prices Secondary Offering
Amer Sports, Inc. has priced a previously announced secondary offering of 35,000,000 ordinary shares by entities affiliated with FountainVest Partners at a price to the public of $37.20 per share.
Foot Locker Starts to Move On, Cancels Q1 Analyst Call
Total comparable sales decreased 2.6 percent year-over-year with comparable sales in the North American region decreasing by 0.5 percent and Europe comps falling 10.2 percent in the first quarter.
Sqairz Expands North; to Open Canadian Warehouse June 2
The warehouse will speed delivery times to Canadian athletes, eliminating long delivery windows, unpredictable duties and high cross-border costs.
U.S. Consumer Confidence Improves in May After Five Months of Decline
May’s rebound in confidence was broad-based across all age and income groups and shared across all political affiliations, with the strongest improvements among those identifying as Republicans.
Macy’s Inc. Pares Earnings Guide on Tariffs, Consumers and Competitor Promos
First quarter sales growth at Bloomingdale’s and Bluemercury was offset by a decline at Macy’s for the 13-week period ended May 3.
Allbirds Inks Two New Distribution Agreements
The brand signed agreements covering Central America, the Caribbean, Chile, and Colombia, as well as Spain and Portugal, bringing to 13 the number of distribution deals signed since the company changed its global sales strategy.
Dr. Martens Taps Industry Vet Paul Zadoff as President, Americas
Zadoff is a Nike veteran and left the company in 2009 after a 19-year run in director or general manager roles across Asia Pacific, Europe and Eastern Europe.
Walmart Restructures; Cuts Roughly 1,500 Corporate Jobs
The retailer is streamlining its global tech and Walmart U.S. operations, affecting approximately 1,500 employees. The U.S. retail cuts are mainly in the end-to-end operations teams and the Walmart Connect marketing organization.
Hoka and Ugg Parent Deckers Brands Names New Board of Directors Chair
Davis succeeds Michael F. Devine, III, who is retiring from the Board after over 14 years of service, including six years as chair. Her appointment is effective immediately.
Deckers Posts Fifth Straight Year of Double-Digit Revenue and EPS Growth
Hoka brand net sales increased 10.0 percent, Ugg brand net sales increased 3.6 percent, and Other brands net sales, which now includes Teva, Ahnu and Koolaburra, decreased 6.3 percent year-over-year.
On Elects Helena Helmersson to Board of Directors
Helmersson brings a wealth of experience from her long-standing career in the fashion industry. She served as the CEO of H&M Group from 2020 to 2024. She began her career at H&M in 1997 as a business controller in the company’s buying office and advanced through key leadership roles.
Ross Stores Sees Flat Q1 Comps, Withdraws FY Guidance On Tarrif Impact
Ross Stores Inc. reported flat same-store sales in the first quarter ended May 4 due to a slow start to spring selling. The off-pricer predicted a slight decline in second-quarter earnings and also withdrew its guidance for the full year due to margin pressures tied to tariffs on Chinese imports.
