The economic downturn brought on by the coronavirus has officially been declared a recession, but National Retail Federation (NRF) Chief Economist Jack Kleinhenz said the key question is how long it will last. “Will this recession be briefer than earlier recessions?” Kleinhenz said. “No one has...
Genesco Inc. has named Mimi E. Vaughn, the company’s president and chief executive officer, to the additional position of chair of the board of directors, effective July 1, 2020. Vaughn will succeed Robert J. Dennis, implementing the final step of a transition plan that began...
A Gartner Inc. survey of 260 global supply chain leaders in February and March 2020 found that 33 percent had moved sourcing and manufacturing out of China or plan to do so in the next two to three years. Survey results show that COVID-19 is...
Sperry, a division of Wolverine World Wide, Inc., has named Sean McDowell the new vice president of design and product development. In this role, he will focus on driving product innovation for the Sperry brand. McDowell will report to Joelle Grunberg, a member of Wolverine Worldwide’s...
VF plans to hire its first president, Greater China. Kevin Bailey, executive vice president & Group President, APAC, will continue leading the Asia Pacific Region but will relocate to Denver, CO where he will also assume leadership of the company’s Emerging Brands platform including Altra,...
At the Stifel Cross Sector Insights Conference, Patrik Frisk, CEO and president of Under Armour, said he believes the brand’s amplified focus on athletic performance will pay off as the coronavirus pandemic drives increased interest in fitness and health. “We believe that there’s a good chance...
Speaking at the Stifel Cross Sector Insights Conference, Jim Swanson, CFO, Columbia Sportswear, said the company’s diversified business model, accelerated investments in digital in recent years, and the heightened appeal for outdoor products will help it manage the fallout from the pandemic. Diversification efforts start with...
Puma has initiated opposition proceedings in connection with Nike’s application to use the word “footware” for use on sneaker-specific software products and services, according to thefashionlaw.com. Puma’s June 16 opposition filing argues that “footware” is a “merely descriptive” term for technology-driven footwear designs and should not...
The 2nd edition of the COVID-19 Industry Impact Report from the Sports & Fitness Industry Association (SFIA) finds that while most sporting goods categories are seeing significantly decreased sales year-over-year, 56 percent of respondents reported sales growth from April to May 2020. Comparing May 2020 to...
Target will permanently raise its starting wage for U.S. employees to $15/hour effective July 5, 2020. The move was announced with a range of updates and extensions to its pay and benefits programs. The Company also announced it will give a one-time recognition bonus of...