SGB Update Footwear
Under Armour Cuts Guidance on Expanded Restructuring Cost Expectations
The company has identified approx. $70 million of additional charges, largely related to the decision to exit one of its primary distribution facilities located in Rialto, CA on top of the $70 million to $90 million already planned in connection with its Fiscal 2025 restructuring plan.
Are We Headed for More Inventory Overhang as Retailers Bring Goods in Early?
If the forecasts prove correct, 2024 will have seen a seven-month stretch of import levels at or above 2 million TEU, the longest since a 19-month stretch through September 2022, as retailers pull shipments forward for fear of a port strike.
NRF: U.S. Not Likely Headed Into Recession, but Jobs Market Slowdown Possible
NRF’s chief economist believes the U.S. economy has dodged a recession, but is on the cusp of nailing a long-awaited soft landing with a simultaneous cooling of growth and inflation. However, the jobs pictures seems to be another story.
Gymshark Hires Chief People Officer
Keane worked for over 11 years at the luxury etailer Farfetch in various roles, including chief people officer from 2018 to 2024. Gymshark also announced it plans to open its first store outside the UK this year at the UAE’s Dubai Mall as part of its global omnichannel growth.
Journeys Parent Narrows Q2 Loss as Sales Tick Up; Raises FY Guidance
Genesco, Inc. now expects total sales to decrease 1 percent to 2 percent for the year, versus prior expectations for a total sales decrease of 2 percent to 3 percent.
Tilly’s Takes a Shifting Calendar Hit to Second Quarter Sales; Improves EPS Loss to Zero
The calendar shift impact of last year’s 53rd week in the retail calendar, which caused a portion of the back-to-school season’s sales volume to shift into the latter stages of the second quarter from the beginning of the third quarter last year.
Zumiez Gets Q2 Sales Lift From Year-over-Year Calendar Shift and Narrows Net Loss
The company experienced a noticeable acceleration in its sales trend as the second quarter unfolded, with July North America comparable sales increasing in the high-single digits and encouraged about prospects for growth over the remainder of fiscal 2024.
Cotopaxi Opens Store on Boston’s Newbury Street
Located in the heart of Newbury Street, the store was originally a 19th-century schoolhouse before retail.
Arc’teryx to Feature First ReGear Showroom in New Brand Store in NYC
The flagship store will sell new and pre-owned Arc’teryx apparel and gear, with one floor dedicated to its ReBird Service Center, offering product care and repair services.
Shoe Carnival Raises Guidance on Strong Back-to-School Results
Sales accelerated during the peak back-to-school season and continued through the month of August. The company achieved low-single digit comparable store sales growth for Fiscal August 2024, driven by growth of the Children’s and Athletics categories.
Macy’s, Inc. Announces Debt Tender Offer
Macy’s Retail Holdings, LLC, has commenced a cash tender offer to purchase up to an aggregate principal amount of certain of its outstanding notes for a combined aggregate purchase price of up to $220 million.
Buckle Sees August Comps Inch Up
Buckle, Inc. reported August comparable store net sales for the 4-week period ended August 31 inched up 1.7 percent from comparable store net sales for the year-ago August period.
Fossil Group Snags Franco Fogliato as CEO and Board Member
New CEO Franco Fogliato most recently served as president and CEO of Salomon. Before that, he spent eight years working at Columbia Sportswear as CEO of Europe and at Billabong Group and held executive roles at The North Face earlier in his career.
Currex and Powerstep Parent Acquired by Private Investment Firm
Bansk Group has acquired Foundation Wellness, the parent company of the Powerstep, Currex, Foot Petals, Flat Socks, Doctor Hoys, and other branded footcare-focused product companies from Gridiron Capital.
SFIA Appoints New President and CEO as Tom Cove Retires
Todd Smith will assume the president and CEO role for the association, effective October 1. Smith will succeed Tom Cove, who announced his retirement earlier this year as president and CEO after leading the organization since 2005.
