SGB Update Footwear
DBI Adds Le Tigre Footwear to Owned Brands Portfolio at DSW
The company, which owns retailers DSW Shoe Warehouse and The Shoe Company, said the addition of Le Tigre, along with the recent acquisitions of Keds and Topo Athletic, enables it to grow its brand portfolio in the important athletic and athleisure space.
StockX Report Calls Out On, Salomon and Asics as Top YTD Trading Gainers
Success on the secondary market can be a barometer for consumer demand, and Stockx’s report suggests that, despite a more challenging retail environment, brands continue to break through and demonstrate growth.
OrthoLite Names Cirql VP/GM
OrthoLite hired Matt Thwaites as vice president and general manager of OrthoLite Cirql. He was formerly global sales and marketing director of the Footwear Division for Coats, the industrial thread company.
Sole Technology Adds Familiar Face as ThirtyTwo Design Chief
Will Keegan has re-joined Sole Technology after 12 years as boot designer/merchandiser for the ThirtyTwo brand. Moving forward, he will oversee all design and merchandising for ThirtyTwo boots and all-terrain footwear.
TJX Lifts Outlook As Q2 Earnings Fly Past Expectations
The TJX Companies, Inc. increased its guidance for sales and earnings for the year after reporting second-quarter results that easily exceeded the off-pricer’s guidance. Same-store sales grew 6 percent.
Target Slashes Guidance After Q2 Sales Shortfall
Target, Inc. reduced its full-year profit outlook on “continued near-term challenges on the topline” The readjustment came despite the discounter reporting second-quarter earnings that handily topped Wall Street as tight inventory controls offset lower-than-expected sales.
Macy’s Hires Chief Customer and Digital Officer
Macy’s Inc. named Massimo Magni chief customer and digital officer, effective August 21. He was a more than 20-year veteran of McKinsey & Company.
Report: July Retail Sales Grew 3.2 Percent Year-Over-Year
The U.S. Census Bureau reported that overall retail sales in July were up 0.7 percent from June and up 3.2 percent year-over-year. That was double the increases seen in June.
F45 To Voluntarily Delist And Deregister Stock
F45 Training Holdings, Inc. announced its intention to voluntarily delist from the New York Stock Exchange and to deregister its common stock.
Columbia Sportswear Names Chief Product Officer, Columbia Brand
Columbia Sportswear Company hired Woody Blackford as senior vice president and chief product officer for the Columbia Brand. Blackford is returning to Columbia, where he previously worked for 14 years, culminating in the position of VP of global design and innovation.
Trove Secures $30 Million In Funding Round
Resale tech platform Trove reported it raised $30 million in a Series E funding round, bringing its total funding to over $150 million.
On’s Sales Surge 60 Percent Currency-Neutral In Second Quarter
On Holdings reported adjusted EBITDA nearly doubled in the second quarter as sales vaulted 52 percent (60 percent on a currency-neutral basis). Sales in the Americas region jumped 59.8 percent. On again lifted its full-year sales guidance, implying a full-year growth rate of 44 percent and a second half-year growth rate of close to 30 percent. On Holdings forecast for EBITDA margin was maintained.
Study: Luxury Retailers Brace for Rise in Losses to Theft and Security Issues
A new global research survey asked luxury retailer senior executives with a total annual turnover of $3.1 billion across the U.S., South America, Europe, Africa, and Asia revealed that 62 percent expected a rise in losses to theft over the next three years.
Blain’s Farm & Fleet Names New President
Blain’s Farm & Fleet, a family-owned company for 68 years, promoted Mark Hasting to president, the first time a non-family member has held the position, in addition to his chief commerce and operating officer role. Jane Blain Gilbertson, the owner of Blain’s Farm & Fleet and Blain Supply, Inc., will remain CEO.
Tapestry, Inc. Acquires Capri Holdings in $8.5 Million Deal
This acquisition brings together the Coach, Kate Spade, and Stuart Weitzman brands owned by Tapestry with the Versace, Jimmy Choo, and Michael Kors brands owned by Capri.
