SGB Update Footwear
DSW Parent’s Shares Fall Sharply After Tough Q3, Guidance Cut
Designer Brands, Inc., the parent company of DSW, Keds and Topo Athletic, reported that fiscal third quarter net sales decreased 9.1 percent year-over-year to $786.3 million. Total comparable sales decreased by 9.3 percent YoY for the period.
The Buckle Appoints Three Execs, Announces Special Dividend
The Buckle, Inc. announced a special dividend of $2.50 per share and several executive appointments, including a VP of Sales; VP, Assistant General Counsel and Assistant Corporate Secretary; and VP of Marketing.
REI to Close Santa Monica Store
REI confirmed plans to close its store in downtown Santa Monica, CA, due, in part, to higher costs of doing business. The two-story, 32,000-square-foot location will close February 29, 2024.
Aerosoles to Expand into Apparel Through License
Aerosoles signed a new licensing agreement with Maze Collections, Inc. for the distribution of career pants, further expanding beyond women’s footwear.
Event Technology Opens Asia Pacific HQ
The company said the new HQ is “strategically located in the heart of the technical fabric industry’s supply chain hub” and houses its engineering, product and finance departments, sales and marketing team to service the Asian commercial market and the executive team under the leadership of company CEO David Liu.”
VF, Vista Outdoor, Wolverine Worldwide Top Most-Read SGB Articles for November
November 2023 featured to usual articles for the start of the holiday shopping season and the end of the retail fiscal quarter, but it was a dramatic job cutting announcement from VF Corporation, parent of The North Face, Vans, Timberland, Dickies and Jansport that got the most attention over the 30-day period.
Consumer Confidence Rebounds in November
U.S. consumer confidence rose in November after three straight monthly declines, with U.S. consumers planning big-ticket purchases, including motor vehicles and houses, over the next six months despite higher prices and interest rates.
Vista Outdoor Appoints Co-CEOs Ahead of Split
As part of the previously announced plan to sell its ammo business to Czechoslovak Group and change the company’s name to Revelyst, Vista Outdoor, Inc. named Eric Nyman and Jason Vanderbrink as co-chief executive officers in a regulatory filing.
WFSGI Rolls Out New Strategic Plan Focused on Physical Inactivity
The World Federation of Sporting Goods Industry (WFSGI) rolled out a new strategic plan last week prioritizing the highest historical rate of physical inactivity.
Champion Names VP, Chief Marketing Officer
HanesBrands announced that Richard Mcleod was named vice president and chief marketing officer of global Champion. He joined the company from Canada Goose, where he was senior vice president of brand.
ICSC Releases Post-Thanksgiving Weekend Survey Results
The International Council of Shopping Centers (ICSC) reported the results of its post-Thanksgiving weekend survey*, which showed that over half of respondents (56 percent) noted that they shopped just as much or more than in the past, an increase of 6 percent from its 2022 survey.
Neiman Marcus Rejects Saks Takeover Bid
According to the Wall Street Journal, Neiman Marcus rejected Saks Fifth Avenue’s offer of $3 billion to acquire the retailer; however, the two chains are continuing to negotiate, focused on the terms of the deal.
Bandier Seeks Sale Amid Credit Pressures
Bandier, the women’s activewear brand, is looking for a buyer to acquire its assets, including inventory and intellectual property. DSI Assignments is conducting the expedited sale process.
German Retailer SportScheck Files for Insolvency; Frasers Exits Deal
UK-based Frasers Group plc, said it intends to work with the appointed preliminary insolvency administrator of SportScheck with a view to acquiring the SportScheck business/assets out of administration.
Dr. Martens Sees First-Half Sales Slide on Softness Within U.S. Wholesale
Dr. Martens plc reported revenue in the first half ended September 30 declined 5 percent, or 3 percent on a currency-neutral basis, primarily driven by weakness in U.S. wholesale channels.
