SGB Update Footwear
NRF: Imports Peaked in October, Volume Expected to Increase in 2024
Inbound cargo volume at the major container ports in the U.S. will continue to slow during the final weeks of 2023 after peaking later than expected in the fall, according to the Global Port Tracker* report released by the NRF and Hackett Associates.
NRF: Economy Delivers “Vigorous Growth” Despite Slowdown
According to the National Retail Federation’s Chief Economist Jack Kleinhenz, after a challenging year, the economy remains healthy despite slowing.
Lululemon’s Q3 Earnings Dip On Charge Tied to Mirror Shutdown
Lululemon Athletica, Inc. reported earnings declined slightly due to a charge related to its move to discontinue its Mirror platform as part of a new partnership with Peloton. Excluding the charge, earnings and sales topped guidance for the third straight quarter and Lululemon again lifted its outlook for the year.
Tanger Acquires First Open-Air Lifestyle Center
Tanger acquired Bridge Street Town Centre in Huntsville, AL for $193.5 million using cash on hand and available liquidity. Management expects the center to deliver a first-year return in the mid-eight percent range, with potential for additional growth over time.
ICSC Board of Trustees Elects New 2024 Chair and Vice Chair
The ICSC Board of Trustees elected Jim Taylor, president & CEO, Brixmor Property Group, to serve as ICSC’s chairman and Angele Robinson-Gaylord, SVP, store development americas, Starbucks, to serve as vice chairman for the 2024 term.
Lands’ End Posts Wider Q3 Loss on Double-Digit Sales Decline
Third quarter net revenue decreased 12.5 percent to $324.7 million and the net loss was $112.4 million, or $3.52 loss per diluted share, compared to net loss of $4.7 million, or 14 cents loss per diluted share, in the third quarter of fiscal 2022.
FWV Sells CGPR to Integrated Travel and Recreation Marketing Firm
Off Madison Ave acquired PR Agency CGPR from French/West/Vaughan (FWV), the Raleigh, NC-based marketing agency that acquired the company in February 2020. CGPR is the fifth merger and acquisition by Off Madison Ave since 2005.
Kizik Amends Credit Facility to Support Growth
Kizik secured an amendment of its credit facility with JPMorgan Chase that provides enhanced financial flexibility to support expansion into new distribution channels, including company-owned retail stores, U.S. wholesale and international markets.
Golden Goose’s Debt Rating Outlook Upgraded by Moody’s
Moody’s Investors Service changed its debt ratings outlook on Golden Goose S.p.A. to positive from stable due to the Italian luxury sneaker maker’s strong performance in 2023 and its solid credit metrics.
Report: Nike and Lululemon Post Epic Retail Traffic Surges on Black Friday
The Placer.ai data revealed that Nike drew 324.9 percent more retail store visits on Black Friday 2023, Lululemon, for its part, saw a visit bump of 467.7 percent on November 24, bringing the brand closer to its pre-pandemic Black Friday frenzy levels.
Macy’s Names Chief Legal Officer
Macy’s Inc. hired Tracy Preston as chief legal officer and corporate secretary. Previously, she was the chief compliance officer, chief legal officer and corporate secretary of HanesBrands, Inc.
Nobull Appoints Ex-Timberland President as COO
Nobull appointed Susie Mulder, the former global brand president of Timberland, as chief operating officer, effective immediately.
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.
