Pierer Mobility to Divest Felt Bicycles, R Raymond Brands
Pierer Mobility reported it will sell the Felt Bicycles and R Raymon bike brands as part of a divestment of its non e-bike business. to enable the Austrian-based company to focus on its core e-bike and motorcycle brands.
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.
Haro Bikes Adds Senior Engineer
Haro Bikes hired Ty Buckenberger as senior engineer to develop new bikes as the brand expands into new categories this season.
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.
Tommy Bahama Parent Gets Q3 Sales Boost from Johnny Was
Oxford Industries, Inc., the parent of the Tommy Bahama, Lilly Pulitzer and Johnny Was brands, reported that consolidated net sales in the fiscal third quarter increased 4 percent to $327 million. Still, the company moderated its full year sales and EPS guidance.
Clarus Sees Potential Recovery of $46 million from Shareholder Derivative Lawsuit
Clarus Corp. reported it sees the potential recovery of $46.2 million related to a lawsuit it filed against HAP Trading, LLC and Harsh A. Padia regarding the recovery of short-swing profits in violation of securities laws.
The Microfibre Consortium Shuffles the Leadership Deck
Research Director Dr. Kelly Sheridan, who is also an Assistant Professor in Forensic Science (Textile Fibers) at Northumbria University, will reportedly step into the CEO chair, while Founding Director Sophie Mather will transition from the Board of Director to an advisory role, supporting “the continuity of the topic and the organization.”
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.
Peloton’s Chief Marketing Officer Exits to Join Verizon
After less than a year at the company, Peloton Chief Marketing Officer Leslie Berland, has joined Verizon Communications, Inc. in the same role.
Nobis Outerwear Enters Chinese Market with Three Stores
Luxury outerwear brand Nobis opened three stores in Beijing and Shanghai, marking the brand’s entry into the Chinese retail space.
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.
Thor Industries Sees Q1 Results Hampered by RV Dealer Destocking Pain
Thor Industries, Inc. reported profits fell 60.6 percent in the fiscal first quarter ended October 31 on lower margins and a 19.6 percent sales slump. The RV maker said results were in line with expectations and it reiterated guidance for the year.
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.
