SGB Update Footwear
Former Nike and TNF Exec Nicole Otto Joins Ruggable as CEO
For nearly 17 years, Otto worked for Nike, Inc. ascending through the ranks to run Nike Direct for North America. She was with VF Corporation for over two years as global brand president of The North Face until June 2024.
Scheels to Open Third Store in Wisconsin in 2027
Wauwatosa Scheels will employ 500-plus store associates, the majority of whom will be employee owners hired locally. The store will be the company’s 36th location. A 35th store will open in Fall 2026 in Cedar Park, TX.
Ross Stores Sets CFO Transition Plan, Promotes Bill Sheehan to Deputy CFO
Company EVP and CFO Adam Orvos will reportedly retire, effective September 30. Sheehan, currently group SVP, finance, has been promoted to deputy CFO and is expected to succeed Orvos as chief financial officer on October 1.
Lids Appoints New Chief Financial Officer
Greg Cox was promoted to CFO effective immediately. He has worked for the company for eight years. In his new role, he will lead strategic growth initiatives and operational simplification across the global retailer’s business functions.
Walmart Gets Strong Q4 Lift from U.S. and Global E-Commerce Gains
Globally, e-commerce grew 16 percent with penetration up across all segments. Walmart U.S. comp sales up 4.6 percent with positive growth in general merchandise.
Play it Again Sports Parent Sees Revenues and Profits Dip in 2024
Winmark Corporation reported that revenues for the year ended December 28, 2024, were $81.3 million, down from $83.2 million in 2023, impacting its decision in May 2021 to run off its leasing portfolio.
TSG Consumer Partners Appoints New Head of London Office
TSG’s past and present investments in the active lifestyle space include Backcountry, Corepower Yoga, Nuun, Revolve, Canyon Bicycles, and Planet Fitness. TSG has investment offices in San Francisco, New York and London.
Famous Footwear Parent Caleres Acquires Stuart Weitzman as a New Lead Brand
Caleres CEO Jay Schmidt said Stuart Weitzman will be the company’s lead brand, and, with this combination, the Brand Portfolio segment will generate nearly half of its total revenue and continue to generate over half of its operating profit.
Tenaya Inks U.S. Distribution Deal
The manufacturer of performance climbing shoes, has signed an exclusive U.S. distribution agreement with Liberty Mountain aimed at streamlining operations and delivering quick product turnaround times to retailers and climbing gyms while making the brand more accessible to outdoor enthusiasts nationwide.
Steve Madden Board of Directors Approves Deal to Acquire Kurt Geiger
Steve Madden has entered into a definitive agreement to acquire UK-based Kurt Geiger from a group led by international private equity firm Cinven for an enterprise value of approximately £289 million in cash.
BJ’s Wholesale Club to Open in Florida
The new club will open in Brooksville, FL, on February 21, 2025, including an on-site BJ’s Gas location opening on February 6. Club members who shop the store, save of up to 25 percent off grocery store prices.
Fleet Feet to Open Fourth Franchise Location in Arizona
Billy Preston is opening a new Fleet Feet franchise store in downtown Prescott, AZ, with easy access to over 500 miles of nearby trails and outdoor recreation year-round.
Crocs, Inc. Shares Jump on Strong DTC Gains and Growth Inversion at HeyDude
CROX shares were up more than 24 percent as Crocs Brand revenues increased 4.0 percent (+4.9 percent cc) to $762 million in the fourth quarter, and HeyDude Brand revenues were flat at $228 million, turning the corner from recent declines.
Bluestar Alliance Acquires Palm Angels to Expand Streetwear Stable
The acquisition follows the company’s September 2024 acquisition of Off-White from LVMH, and is said to underscore the company’s continued expansion into the high-end streetwear and luxury fashion sectors.
Wolverine World Wide Promotes Brett Parent to Chief Strategy Officer
The parent company of the Merrell, Saucony, Wolverine Brand and Sweaty Betty brands promoted Brett Parent to CSO, effective February 3. He will now serve on the company’s Executive Team.
