SGB Update Footwear
Nordstrom Adds Board Member
Nordstrom, Inc. appointed Guy B. Persaud to its Board of Directors, effective immediately. Persaud is president of the new business unit at Procter & Gamble.
Shoe Carnival Increases Quarterly Dividend
Shoe Carnival, Inc.’s Board of Directors approved a quarterly cash dividend payment of 12 cents per share, representing an increase of 20 percent from 10 cents per share.
AGM Names Director of Membership & Education
The Association of Golf Merchandisers appointed Justine Gray as director of membership and education.
JD Sports Posts Double-Digit H1 Growth in N.A. with DTLR, Finish Line, JD and Shoe Palace
U.K.-based JD Sports Fashion reported total revenue of £4.78 billion ($5.91 billion) for the first half of its fiscal year ended July 29, up 8.3 percent year-over-year. JD said organic growth in its North America business was up 15 percent with the three largest segments—Finish Line/JD, DTLR and Shoe Palace—delivering between 13 percent and 17 percent organic sales growth.
Nordstrom Sets Plans for More Rack Locations in Ohio
With the addition of this new location in Mason, OH and a location opening in Macedonia, OH in spring 2024, Nordstrom will operate eight Nordstrom Rack stores and three Nordstrom stores in Ohio. The store is scheduled to open in fall 2024.
Adidas Opens New Fully Automated Distribution Center in China
The fully automated warehousing and distribution center in Suzhou, China, covering an area of 139,000 square meters, is said to “set a new industry standard with its high degree of speed and flexibility in warehousing logistics.”
MycoWorks Opens New South Carolina Factory
MycoWorks, a company developing a fungal-based biomaterial that it said could replace leather, began production at its new manufacturing facility in Union, SC. The San Francisco-based biomaterials start-up said its now set to grow millions of square feet of its leather-alternative material produced with the company’s proprietary technology, Fine Mycelium.
Bass Pro Shops Sets New Location in Tucson, AZ
The new retail store will be located off I-10 as an anchor of Marketplace at the Bridges.
Birkenstock’s Revenues Climb 21 Percent in Fiscal Nine Months
Birkenstock’s revenues grew 21 percent in its fiscal nine months ended June 30 due to broad-based growth across regions and channels, according to an updated regulatory filing tied to its initial public offering.
Kith To Open First Store in Toronto
Kith will officially open its first store in Toronto, and its first in Canada, on September 22.
Allbirds Completes International Distributor Deals
Allbirds, Inc. completed its previously announced agreement with distributor partners in Canada and South Korea. In-Sport Fashions, Inc. is now the brand’s exclusive Canadian distributor and EFG Corp. is its exclusive distributor in South Korea.
Saks Survey Indicates Early Signs of Luxury Spending Rebound
Saks’ latest Saks Luxury Pulse survey, fielded in late July, found that 58 percent of luxury consumers plan to spend the same or more on luxury in the next three months. This is an increase from 53 percent in the prior Saks Luxury Pulse fielded in late April, and represents the first increase in luxury spending plans since the survey began tracking this in May 2022.
Five Below Adds Genesco’s CEO to Board
Five Below, Inc. appointed Mimi Vaughn, currently president, chief executive officer and chair of the Board of Genesco Inc., as an independent member of its Board of Directors.
Mastercard: U.S. Holiday Retail Sales Expected to Grow 3.7 Percent
Mastercard SpendingPulse said sales are expected to rise 6.7 percent online and 2.9 in-store for the period November 1 through December 24, with the biggest gain iexpected to come in electronics with a 6 percent increase.
Authentic Brands’ Debt Ratings Upgraded by Moody’s
Moody’s Investors Service upgraded the debt ratings of Authentic Brands Group to reflect the conglomerate’s “solid” operating performance, increasing scale benefits and improving debt leverage.
