SGB Update Footwear
Long-Time Nike Board Member Douglas Houser Passes Away
Douglas Houser, an attorney who incorporated Nike and served on the company’s Board of Directors for 50 years, passed away at the age of 89.
Mytheresa to Acquire Yoox Net-a-Porter from Richemont
Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments. The transaction will create a multi-brand digital group. The closing of transaction is expected to be in H1 2025.
On Brand to Open First Australian Store
The 390-square-meter flagship store draws inspiration from Melbourne’s “urban landscape,” is is the company’s 42nd globally.
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.
