SGB Update Footwear
Merrell Hires Chief Marketing Officer
Pallav Tamaskar, an ESPN veteran, joins company with a “strong consumer packaged goods and media background.” Most recently, he was the EVP and managing director of Myprotein (THG) North America.
Sam’s Club to Open Two New Midwest Distribution Centers
The Walmart Inc.’s warehouse club division plans to open two new distribution centers in early 2024 outside St. Louis and Minneapolis.
Academy Sports Trims Guidance on Q3 Shortfall
The retailer narrowed its full-year guidance to the lower end of prior expectations as third-quarter sales and earnings arrived below expectations. The retailer blamed generally soft consumer spending and warm weather’s impact on fall selling.
Duluth Trading Posts Wider Fiscal Q3 Loss as Sales Decline
The retailer posted a net loss of $10.5 million, or a loss of 32 cents per diluted share, in the quarter, compared to a loss of $6.2 million, or a loss of 19 cents per diluted share, in the year-ago quarter. Net sales decreased 6.1 percent to $138.2 million.
The Buckle’s Comps Decline 11 Percent in November
The Buckle, Inc. announced that comparable sales for the 4-week period ended November 25 decreased 10.8 percent year-over-year.
Dr. Martens Appoints CFO
Dr. Martens has appointed Giles Wilson as chief financial officer, effective at the start of 2024.
PVH Raises EPS Outlook as Q3 Tops Expectations
PVH Corp. raised its EPS guidance for the year after reporting sales in line and earnings above guidance in the third quarter. On a currency-neutral basis, sales were flat for the Tommy Hilfiger brand and grew 3 percent for Calvin Klein.
Costco’s Comps Improved 3.5 Percent in November
Costco Wholesale Corp. reported same-store sales rose 3.5 percent in November. By region, comps increased 1.8 percent in the U.S., 4.4 percent in Canada and 11.7 percent in its Other International segment.
Bass Pro’s Debt Ratings Outlook Lowered On Sales Weakness
S&P Global Ratings lowered the debt ratings outlook of Great Outdoors Group, LLC, the corporate parent of Bass Pro and Cabela’s, due to the recent report of a negative sales performance for the third quarter and nine months ended September 30.
Paris Saint-Germain to Relocate to Larger New York City Flagship
Paris Saint-Germain and its partners, Fanatics and Lids, announced plans to move its New York City flagship to a premium location at 535 5th Avenue on December 15 to build on the success of its first Manhattan flagship, at 587 5th Avenue, which opened in March 2022.
Craft Sportswear NA Sees CEO Transition as HQ Moves West
Craft Sportswear North America plans to move its U.S. headquarters from Beverly, MA, to Seattle, WA, in 2024 to “bolster the brand’s expansion in outdoor and specialty retail, all while streamlining operational efficiencies.” Cutter & Buck exec Jake Rawson has been named the new CEO for Craft North America.
Caleres Appoints SVP of International
Caleres announced that Erica Mackoul joined the company as senior vice president of international. Most recently, she worked at Cole Haan.
StockX Sets New Single-Day Trade Record on Black Friday
StockX reported strong results over the four-day Cyber Weekend, setting a new single-day trade record and averaging more than one trade every second on Black Friday. Brands receiving attention from buyers included Jordan, The North Face, Ugg, New Balance, and Fear of God.
Hudson Bay Appoints New President and CEO
Hudson’s Bay appointed Liz Rodbell as president and CEO of the Canadian retailer, effective December 1. She succeeds Sophia Hwang-Judiesch, who is stepping down as president to pursue another opportunity.
New Balance Opens Second UK store in Westfield White City
New Balance opened a second retail store in the UK, this time in Westfield White City, on November 27. The retail concept puts people, rather than products, front and center, to inspire each other and find their “authentic” style.
