Gap To Undergo Layoffs
Gap, Inc. will eliminate about 500 corporate jobs, sources told the Wall Street Journal. The Gap has been looking to reduce costs during declining sales and profits.
The North Face Makes Executive Appointments
The North Face hired Sophie Bambuck as chief marketing officer and Jennifer Ingraffea as chief product and merchandising officer.
Winchester Parent Lowers Third-Quarter Guidance
Olin Corporation, Winchester’s parent company, said it now expects third-quarter 2022 adjusted EBITDA to be in the range of $530 million to $550 million, down from an estimated $620 million due to the weakening global economy.
Nordstrom Adopts ‘Poison Pill’ After Mexican Retailer Buys Stake
Nordstrom, Inc. adopted a shareholder rights plan, more commonly known as a “poison pill,” to prevent outsiders from boosting their stake in the business after a Mexican company acquired a 9.9 percent stake in the upscale U.S. retailer’s business.
Brunt Workwear Hires Industry Veterans
Brunt Workwear hired industry veterans from Patagonia, Harley Davidson, Mizzen+Main, Under Armour, and The RealReal to support its management team.
Fanatics Partners With International Cricket Council
Fanatics and the International Cricket Council entered into a partnership whereby Fanatics operates the official ICC Global online store for all events and becomes manager of event retail.
Oxford Industries Acquires Johnny Was
Oxford Industries, Inc. announced its acquisition of Johnny Was, a California-based lifestyle apparel brand, was finalized for the purchase price of $270 million.
Barnesmith Acquired By E-Commerce Aggregator
Society Brands, an e-commerce aggregator, has acquired Barnesmith, the collegiate apparel manufacturer for nearly 150 schools under licensed designs.
Headrest Safe Appoints Chief Operations And Financial Officer
The Headrest Safe Company, LLC, based in Homewood, AL, announced that Louis Tuck accepted the position as chief operations officer and chief financial officer.
Puma Extends Partnership With Gen.G
Puma and global esports organization Gen.G announced a multiyear extension to the brands’ existing partnership.
Public Lands To Open Four New Stores
Public Lands, the outdoor specialty retail concept from Dick’s Sporting Goods, plans to open four new stores this fall.
Namuk Appoints Vice President, North America
Namuk, the Swiss-based sustainable outdoor kid’s brand founded in 2016, hired Beth Steele as vice president of North America, responsible for driving its U.S. and Canadian business and building the organization in both DTC and B2B markets.
Sea To Summit Hires North America Director Of Strategic Partnerships And Business Development
Sea to Summit, the outdoor gear manufacturer, hired Tracy Brunz as the North American director of strategic partnerships and business development.
A4 Apparel Acquires LabFit And Appoints Industry Veteran As President
A4, the Los Angeles-based team and corporate apparel manufacturer, has acquired LabFit Sublimation and hired industry veteran Todd Levine as president. Mark Mertens will remain as chairman and CEO.
Moody’s Downgrades Li & Fung’s Debt Ratings
Moody’s Investors Service lowered the debt ratings of Li & Fung following the sale of its logistics segment.
