To reignite the heat at Vans, VF Corp. recently tapped a familiar face to lead the brand: Kevin Bailey, who was president of Vans from 2009 to 2016 and most recently served as EVP of VF’s Asia-Pacific business. Bailey has assumed control at a time when Vans has produced less-than-stellar results. For instance, VF reported yesterday that Vans revenues […]
Under Armour and UCLA have settled their years-long legal battle regarding contract obligations and fulfillment, according to a document reviewed by FN. The company paid a total of $67,491,275 to UCLA as part of the settlement agreement, which was reached in late May. UCLA initially sued Under Armour in August of 2020, alleging that the company did […]
Nike has taken another major step in its ongoing commitments to diversify its talent. The giant has committed to release data pertaining to recruitment and promotion rates of its diverse employees — across gender, race, and ethnicity — by 2024. The news comes almost a year after Nike shareholders voted against a resolution to disclose more details related […]
FN keeps track of all of our earnings coverage for retailers and footwear companies here. July, 28 2022: Deckers Brands (DECK) reported earnings for Q1 of fiscal year 2023. Earnings: Diluted earnings per share was $1.66. Net income was $44.8 million. Sales: Net sales increased 21.8% to $614.5 million. CEO comments: “Fiscal year 2023 is off to a solid start, […]
July 28, 2022: Jian DeLeon, Nordstrom men’s fashion and editorial director, and Noah Thomas of Muleboyz hosted a panel discussion with their friend, Mordechai Rubinstein (aka @mistermort) at the Nordstrom Men’s Store in New York City on Wednesday night to chat about all things shoes, Birkenstocks, and specifically, the Boston. The panel was set up on the shoes floor in front […]
The U.S. economy retracted for the second quarter in a row, sparking concerns that the country is headed into a recession, the Bureau of Economic Analysis reported on Thursday. According to new numbers from the bureau, real gross domestic product (GDP) decreased at an annual rate of 0.9% in the second quarter of 2022. This […]
VF Corp. reported a net loss of $56 million in the first quarter of 2023 on Thursday amid a softer consumer environment and inflationary pressures. Despite this loss, the maker of brands such as Vans, The North Face and Timberland posted revenue of $2.3 billion in the period, a 3% increase. The Denver-based company said […]
Supply chain challenges, pricing and China lockdowns were on the minds of investors on Tuesday during Skechers’ quarterly conference call. The Los Angeles-based footwear brand, which reported $1.87 billion in sales for the second quarter of 2022, discussed its strategy on how to tackle each of these headwinds as it looks to keep its momentum going in […]
Skechers posted record sales in the second quarter of 2022 on Tuesday despite the macroeconomic headwinds, supply chain issues and COVID-related restrictions in China during the period. The Los Angeles-based footwear brand reported on Tuesday that it reached $1.87 billion in sales in Q2, a 12.4% increase from the same time last year. According to Skechers COO […]
Shopify co-founder and CEO Tobi Lütke said on Tuesday that the commerce tech company is laying off 10% of its staff as the pandemic rush to move retail business online has cooled. In a letter to his employees today, Lütke said most of the impacted roles are in recruiting, support, and sales. Over-specialized and duplicate […]