Macy’s, Inc. Delays Q3 Results After Employee Hid More Than $132M of Delivery Expenses
A single employee with responsibility for small package delivery expense accounting intentionally made erroneous accounting accrual entries to hide approximately $132 million to $154 million of cumulative delivery expenses from Q4 2021 through Q3 2024.
USPS to Raise Rates in 2025 to Remain Competitive
The changes would raise shipping service prices by approximately 3.2 percent for Priority Mail and Priority Mail Express, 3.9 percent for USPS Ground Advantage, and 9.2 percent for Parcel Select.
Polaris President of PG&A and Aftermarket to Retire
Steve Eastman plans to retire at the end of 2024. As a part of its leadership succession plan, Polaris is naming Andy Williams as president of PG&A and Aftermarket, effective January 1, 2025. Eastman will step into a strategic advisor role to support the transition and is expected to stay on through 2025.
Former President of Callaway Golf Joins Oncore’s Strategic Advisory Board
Frederick Port joins OnCore’s Board as it prepares to commercially launch Genius Ball, a product that “brings new insight to the game” with integrated data-tracking technology. The company said that Port will guide product launch strategies, global growth and partnerships within the golf ecosystem ”
Birkenstock Opens Seventh U.S. Store in Boston, MA
The opening of the Boston store on Newbury Street marks the seventh Birkenstock owned-store in the United States alongside locations in New York City, Brooklyn, Venice Beach, Miami, Marin County, and Austin.
Levi Strauss Continues Retail Expansion in Canada Ahead of Holiday Season
Store locations in Kelowna and Toronto will help expand Levi’s brand presence in British Columbia and Ontario, while a third store in Midtown Saskatoon, Saskatchewan, will be the first owned-and-operated location in the province
Protective Industrial Products Acquires Honeywell’s PPE Business
PIP’s industry-leading brands include PIP, G-Tek, Boss®, Bouton Optical, Grippaz, and Bisley Workwear, along with licensed PPE brands such as Puma Safety Footwear.
Puma Opens Las Vegas Flagship
Located in the heart of the Las Vegas strip, the store offers a “retail experience” with various immersive and interactive features, including a professional F1 racing simulator, an interactive arcade and a customization studio where customers can personalize apparel and footwear.
Moonlight Partners with Abritu Sport for Canadian Distribution
Moonlight, the Norwegian brand known for its outdoor lighting equipment, is officially entering the Canadian market, which was made possible through a new distribution agreement with Abritu Sport, which distributes brands like NNormal and Coros.
Ross Stores Sees Q3 Sales Growth Slow from Stronger First Half Trend
The CEO said the retailer needed to execute better but also cited a combination of severe weather during the quarter from Hurricanes Helene and Milton, along with unseasonably warm temperatures, that also negatively impacted results.
OluKai Opens First East Coast Location at Disney Springs, FL
The Disney Springs store will carry a curated assortment of OluKai active and island-inspired footwear.
The Buckle Posts Q3 Profit Decline on 3.2 Percent Sales Decline; E-Commerce Inches Up
Net income for the third quarter of fiscal 2024 was $44.2 million, or 88 cents per diluted share, compared with net income of $51.8 million, or $1.04 per diluted share in the prior-year third quarter.
Hydro Flask and Osprey Packs Parent Helen of Troy Expands Beauty Portfolio
Helen of Troy Limited, parent of the Hydro Flask, Osprey Packs and OXO businesses, has entered into a definitive merger agreement to acquire the business of Olive & June, LLC.
NBA’s Giannis Antetokounmpo Launches Build Your Legacy Ventures
BYL Ventures to focus on early-stage startups in the entertainment and media, sports, consumer products, and technology categories.
Woom Bikes USA Recalls Children’s Off, Off Air and Original 6 Bikes
This recall involves the Original 6 bikes from model years 2016 to 2020 and Off 5 and Off Air 5 and Off 6 and Off Air 6 bikes from model years 2019 to 2020.
