SGB Update Footwear
Foot Locker Tops Expectations in Third Quarter
Foot Locker, Inc. reported a significant drop in earnings in the third quarter on an 8 percent same-store sales decline but both earnings and sales topped analyst expectations amid progress on its Lace Up turnaround plan. For the year, the sneaker retailer slightly lowered its EPS guidance while slightly raising its sales targets.
Macy’s Taps Former Caesars Exec as Marketing Chief
Macy’s, Inc. announced that Sharon Otterman was named chief marketing officer of Macy’s. Most recently, she was the CMO at Caesars Entertainment.
NRF: Thanksgiving Holiday Weekend Sees Record Number of Shoppers
A record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million, according to the annual survey released by the National Retail Federation. The figures surpassed NRF’s initial expectations of 182 million shoppers by more than 18 million.
Report: Online Apparel Sales Nearly Triple on Cyber Monday
Consumers spent a total of $12.4 billion on Cyber Monday, November 27, according to final Adobe Analytics data, up 9.6 percent from $11.3 billion on Cyber Monday 2022, which was the previous single biggest online spending day of all time.
Academy Sports Opens Seven New Stores in November
Academy Sports + Outdoors opened seven new stores in five states in November 2023 to complete its fiscal 2023 new store planned openings. The retailer opened 14 new stores in fiscal 2023 and plans to expand to reach its goal of opening 120 to 140 new stores by the end of 2027.
Schoeller Textil Appoints Western Regional Sales Manager
Schoeller Textil AG announced that Brett Jacobson had joined its North American team as western regional sales manager.
Nike and Salazar Settle Distance Runner’s Lawsuit
Nike and Alberto Salazar settled a $20 million lawsuit filed by long-distance runner and former Nike ambassador Mary Cain. Terms were not disclosed.
Citi Trends Logs Q3 Loss Amid Low-Income Shopper Pressures
Citi Trends Inc. reduced its outlook after reporting a loss in the third quarter ended October 28 on a 10 percent same-store sales decline. David Makuen, CEO, said, “Our primarily low-income customer base is being more selective and purchasing much closer to need.”
Golf Rounds Dip In October
Golf Datatech reported that U.S. golf rounds played declined 1.0 percent year-over-year in October, the first monthly decline since March. Rounds remained up 3.3 percent year-to-date (YTD), according to the research firm’s National Rounds Played Report for October 2023.
Shein Confidentially Files to Go Public
Shein, the China-founded fast fashion online retailer, has confidentially filed to go public in the U.S. with the potential to start trading in 2024.
Genesco Taps Foot Locker Exec as Journeys Group President
Genesco, Inc. appointed Andy Gray as president of the Journeys Group, effective January 3, 2024. He joins the company from Foot Locker, Inc., succeeding Mario Gallione, who announced his retirement plans in August.
Tennis Express Re-Acquired by Founder
Houston, TX-based Tennis Express announced that Brad Blume, company founder, re-acquired full ownership in the retail and online business from Signa Sports United
Mountain Warehouse Reports Sales Uptick In First Half, Steeped-Up Openings
Mountain Warehouse, the London-based outdoor specialty store with 370 shops across Europe, the U.S., Canada, and New Zealand, reported sales “rebounded strongly” to reach “record” levels of £171 million ($216 mm) in the six months ended August 31.
OIA Names New Director of Sustainable Business Innovation
The Outdoor Industry Association hired Julie M.H. Brown as director of sustainable business innovation to direct and manage its sustainability department.
REI Hires VP of Public Affairs and Impact
REI hired Roma McCaig as VP of public affairs and impact. Most recently, she was the SVP of impact and communications at Clif Bar & Company.
