Columbia Sportswear Hires President, Sorel Brand
Columbia Sportswear Company hired Cory Long as president of the Sorel brand. Most recently, Long was the global general manager and chief global merchant of DC Shoes. He also has leadership experience at Mitchell & Ness, Asics, Supra, and Converse.
REI to Open Albany Store in 2024
REI announced it is opening a store in Albany, NY, in the fall of 2024, the retailer’s sixth store in New York, following the opening of its Ithica store in summer 2024.
Dick’s SG’s Chief Comms and Sustainability Officer Announces Retirement
Dick’s Sporting Goods Chief Communications and Sustainability Officer Peter Land announced his retirement after three years working for the retailer. Dick’s declined to comment on his departure.
VF’s Debt Ratings Downgraded by Moody’s
Moody’s Investors Service downgraded VF Corp.’s long-term debt ratings due to continued weakness at Vans, VF’s second largest brand, as the company embarks on a significant transformation initiative, project Reinvent, to revitalize VF’s business, most notably in North America.
Life Time Opens Club and Co-working Facility in Houston
Life Time opened Life Time Shenandoah and Life Time Work Shenandoah, the company’s 31st athletic country club in Texas and third coworking space in Houston.
Skechers Responds to Nike Patent Lawsuit
Skechers U.S.A., Inc. said it will vigorously defend a patent lawsuit filed by Nike., Inc. in California Federal Court on November 6, in which claims Skechers’ Ultra Flex and Glide Step, among other shoe models, infringed on patents for its Flyknit upper technology for running, soccer and basketball shoes.
Rip Curl, Oboz Parent KMD Brands Sets Plan for CFO Transition
While KMD continues to recruit for a permanent Group CFO, Ben Washington, Deputy CFO, will provide interim cover for financial and investor aspects of the role, and Lachlan Farran, chief commercial officer, will absorb the remaining operational responsibilities on an interim basis.
Walmart Raises Outlook as Q3 Surpasses Analyst Targets
Walmart raised its annual sales and profit forecast for the second straight quarter after third-quarter exceeded analyst estimates. Sales in the quarter grew 5.2 percent with strength across segments and comps rising 4.9 percent for Walmart U.S.
Macy’s Q3 Earnings Surpass Expectations
Macy’s, Inc. slightly improved its outlook for the year as third-quarter results topped expectations as inventory and margins improved. Sales were down 7 percent in the third quarter.
La Sportiva Hires New PNW Independent Sales Agency
La Sportiva tapped Seymour Sales Group for sales representation in the Pacific Northwest. The team includes Thomas Seymour, Abby Seymour, and Carleigh Garrett, who collectively bring decades of sales experience.
Revelyst’s QuietKat Hires OGA, Military and Law Enforcement Sales Manager
Ross Botha’s appointment is said to underscore QuietKat’s commitment to serving the specialized needs of military, law enforcement and government clients with “cutting-edge e-bikes that are rugged, reliable and designed for the most challenging terrains.”
Shoe Carnival Again Reduces Guidance, Blames Hot Weather
Shoe Carnival, Inc. reduced its annual guidance for the third straight quarter after reporting sales softened after Labor Day in part due to unseasonably hot weather in September and October. Same-store sales declined 7.4 percent in the quarter and are expected to decline in the range of 9 percent to 12 percent in the fourth quarter.
Former Under Armour CEO Joins PET Textile Recycling Start-Up
Patrik Frisk, Under Armour’s former CEO and apparel industry veteran, has been appointed CEO of Reju, a new company focused on PET (Polyethylene terephthalate) recycling that’s part of Technip Energies.
Fox Factory and CODI Complete Marucci Sports Transaction
Compass Diversified has completed the company’s previously-announced sale of its majority owned subsidiary, Wheelhouse Holdings, Inc., the parent company of Marucci Sports, LLC, to Fox Factory Holding Corp.
U.S. October Retail Sales Fall for First Time in Seven Months
The Commerce Department reported U.S. retail sales fell 0.1 percent month-over-month in October, the first decline since March.
