JCPenney Names New Chief Transformation And Strategy Officer
JCPenney hired Keith Melker as chief transformation and strategy officer driving consumer traffic, inventory management, digital growth, strategic partnerships, and evolving the retailer’s value delivery model. Katie Mullen will remain the chief digital officer.
GoPro’s Sales Drop 18 Percent In Fourth Quarter
GoPro, Inc.’s profits on an adjusted basis fell 68.2 percent in the fourth quarter as sales were down 18 percent.
Varsity Brands Amends And Extends Credit Facility
Varsity Brands, the parent of BSN Sports, Varsity Spirit and Herff Jones, plans to extend the maturity on its $1.33 billion senior secured first lien term loan by two years to December 2026, according to Moody’s. Moody’s assigned a B2 rating to the debt.
Origin Taps Under Armour Co-Founder As Strategic Advisor
Origin has tapped Under Armour Co-Founder Kip Fulks as a full-time strategic advisor and partner.
Kohl’s Appoints Kingsbury CEO
The Kohl’s Corporation’s board of directors has unanimously appointed Tom Kingsbury as Chief Executive Officer, effective immediately.
Daniel Defense Names New CEO
Daniel Defense, the manufacturer of firearms and accessories, reported that Rod Reasen will assume the role of chief executive officer. He will report directly to founder, owner and chairman of the board, Marty Daniel.
Johnson Outdoors Sees Weaker Fiscal Q4 Margins On Stronger Sales
Johnson Outdoors, Inc. is reporting higher sales and decreased earnings results for the company’s first fiscal quarter ending December 30, 2022.
Deckers Brands Lifts Outlook As Hoka’s Q3 Revenues Surge Over 90 Percent
Deckers Brands raised its guidance for its fiscal year as sales and earnings in the fiscal third quarter surpassed Wall Street’s consensus targets on a 90.8 percent jump in Hoka’s revenues. Ugg’s sales dipped 1.6 percent in the period.
Columbia Sees Q4 Net Income Fall 20 Percent Despite Solid Sales Growth
Columbia Sportswear Company reported that fourth-quarter net sales increased 4 percent (8 percent constant-currency) to $1.17 billion from $1.13 billion for the comparable period in 2021.
Skechers Posts Double-Digit Q4 Sales Growth
Skechers U.S.A. Inc. reported a modest gain in earnings in the fourth quarter ended December 31 on an adjusted basis as sales grew 13.5 percent. Both earnings and sales exceeded Wall Street’s estimates and Skechers predicted growth in the range of 4 percent to 8 percent for the current year.
Crate & Barrel Taps 20-Year Nike Vet For COO Role
Crate & Barrel Holdings, Inc. hired Mike Brewer as chief operating officer. He brings a broad range of experience, including 20 years working at Nike, Inc.
Yniq Eyewear Appoints New CEO
Yniq has named Moss Bemis as CEO. He comes to the eyewear brand with a decade of leadership at Canada Goose, where he held leadership roles in both commercial and merchandising teams.
NRF Economist Sees 2023 Recession As Unlikely Prospect
The National Retail Federation Chief Economist, Jack Kleinhenz, believes a recession is unlikely in 2023, and the economy should see slight growth for the year as consumers continue to manage through inflation and high interest rates.
Brunswick Reports Double-Digit Fourth Quarter Sales Growth
Brunswick reported consolidated net sales of $1,58 billion in the fourth quarter of 2022, up
from $1,43 billion in the fourth quarter of 2021. Diluted EPS for the quarter was $1.93 on a
GAAP basis and $1.99 on an as adjusted basis.
Champion Parent Posts Q4 Loss On Double-Digit Revenue Decline
HanesBrands, Inc. reported net sales from continuing operations decreased 16 percent to $1.47 billion, which includes a $55 million unfavorable impact from foreign exchange rates, compared to last year.
