SGB Update Footwear
What do you get when the first month of the new year features news from a golfer named Tiger, a Statefarm spokesman named Patrick, job cuts, key acquisitions, a looming IPO, and a public fight between a company’s Board and its investors—very busy month for SGB Media.
With nearly 20 years of experience growing high profile brands including Adidas, TaylorMade, Under Armour, and Yeti, Kevin Ross is said to bring proven talent and regional expertise to the company.
After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend on the labor market and what the Federal Reserve does with interest rates, according to NRF Chief Economist Jack Kleinhenz.
Jeff Gennette will continue as chair of the Macy’s Board of Directors until its 2024 Annual Meeting when Spring will take the helm as chair during the meeting.
Lotto hired former Major League Soccer MVP Mike Magee as the first head of talent for its U.S. soccer division and signed St. Louis City SC vice-captain and defender Tim Parker as an ambassador athlete.
For the fiscal year 2024, the company believes it will achieve sales between $8.60 billion and $8.80 billion and diluted earnings per share between $3.65 and $3.85 a share.The company sees Q1 sales between $2.175 and $2.225 billion.
Net sales increased 16.0 percent to $1.56 billion compared to $1.35 billion in the prior-year period. On a constant-currency basis, net sales increased 15.1 percent. Net sales are expected to be approximately $4.15 billion for 2024.
Chairman and CEO Tim Boyle expects 2024 to be a challenging year as retailers place orders cautiously, and economic and geopolitical uncertainty remains high.
Dave Powers has decided to retire as president and CEO, effective August 1, 2024. Stefano Caroti, the company’s chief commercial officer, will be appointed president and CEO, effective upon Powers’ retirement.
The creation of a Global Commercial organization, which will encompass Circana’s global client verticals and solution groups, will be led by Jeremy Allen in the newly created role of chief commercial officer.
Karen Fleming, currently group EVP of merchandising for DD’s Discounts, has been promoted to president and chief merchandising officer for the Ross Stores division.
EVP & CFO Anne Mehlman will be promoted to EVP and president of the Crocs Brand. Until her replacement is named, Mehlman will continue as CFO of the company.
The 9.7 percent decrease in consolidated same-store sales is said to be comprised of a decrease in retail store same-store sales of 9.4 percent and a decrease in e-commerce same-store sales of 11.5 percent.
The retailer is also finalizing construction plans on 12 new projects it intends to start this year, along with converting one of its smaller locations to a Walmart Supercenter.
Stephen Dowling joins Fanatics Commerce in a new role as president, international. Valerie Love joins the company as chief people officer, and Justin Tsai joins in the newly created role of chief product officer.