Famous Footwear Parent Sees Q2 Profit Exceed Estimates on Above-Plan Margins
Caleres, Inc. delivered second-quarter earnings ahead of expectations and reiterated its guidance for the year. Sales in the quarter were down 5.2 percent at Famous Footwear and 7.2 percent at its Branded Portfolio segment but both showed improving trends sequentially versus the first quarter.
Journeys Again the Culprit as Genesco Swings to Q2 Loss on Lower Sales
The overall 2 percent sales decline was driven by an 11 percent decrease at Journeys and a 7 percent decrease at Genesco Brands, partially offset by an increase of 21 percent at Schuh and an increase of 4 percent at Johnston & Murphy.
Duluth Trading Trims Outlook on Q2 Shortfall
Duluth Holdings, Inc., the parent of Duluth Trading, lowered its earnings guidance for the year after reporting a worse-than-expected loss in the second quarter. Sales were down 1.7 percent, impacted by weak store traffic. Duluth also noted that its CFO had stepped down to explore another opportunity.
Fanatics Lands at Academy Sports + Outdoors
Academy Sports + Outdoors announced it entered into a partnership agreement with Fanatics to enhance the retailer’s in-store and online assortment of officially licensed sports merchandise beginning this fall.
Journeys Group President to Retire; Appoints COO
Genesco, Inc. announced the planned retirement of Journeys Group president Mario Gallione at the end of the company’s fiscal year, with an expected effective date of February 2024. Mike Sypert was promoted to Journeys’ chief operating officer, effective immediately.
Rack Room Names New Chief Legal Officer
Rack Room Shoes hired Randolph Brodwin, Esq. as senior vice president and chief legal officer. Previously, he was vice president, associate general counsel at Foot Locker, and, most recently vice president, legal affairs at Circle K.
Avenatti Loses Conviction Appeal in Nike Extortion Case
The US Court of Appeals for the Second Circuit rejected Michael Avenatti’s claim that no sufficient evidence supported his February 2020 conviction on charges of extortion and honest services fraud for threatening to smear Nike if the company did not pay him millions.
Skechers Donates More than $10 Million to Support Dogs and Cats in Need
Over the past eight years, Bobs from Skechers has grown into a year-round movement with round-up donations, vaccination events, check celebrations for organizations, and animal transports to future homes.
PVH Posts Solid Q2 Results on Strong China Sales Growth, U.S. DTC Gains
The parent of the Tommy Hilfiger and Calvin Klein brands reported that second-quarter revenue increased 4 percent year-over-year to $2.21 billion, and grew 2 percent on a constant-currency basis.
Midwest Mountaineering to Close After 53-Year Run
The Minneapolis store reported losing money every month in 2023 through July and with declining sales for the last seven years except when outdoor gear sales saw a brief surge at the height of the pandemic.
Z Supply Appoints First Chief Communications Officer
The women’s lifestyle apparel and accessories brand hired Erika Klein as chief communications officer, moving from her role as its chief marketing officer, a position she has held for the past six years.
Fitness On Demand Hires CEO
Fitness On Demand, a fitness content provider, hired Andy Peat as CEO.
Sycamore Partners Rolls Up Top Women’s Brands into New Holding Company
The private equity company specializing in consumer, distribution and retail-related investments, formed the KnitWell Group, a holding company comprised o apparel brands, including Ann Taylor, Loft and Talbots.
Mivice Makes Key North America Sales Hire
Mivice, an e-drivetrain system supplier, hired Brad Accettella as North American business development and sales executive. Previously, Accettella previously was the COO of Brooklyn Bicycle Co. and director of product and supply chain for Guardian Bikes.
L.L.Bean Adds Academy Sports + Outdoors as Wholesale Key Account
Academy Sports will carry a wide assortment of L.L.Bean’s products, including polos, backpacks, men’s and women’s apparel, and the iconic Bean Boots.
