Personnel Updates
• Academy Sports & Outdoors appointed Sam Johnson as its Exec VP Retail Operations.
• Citi Trends Inc. announced that Jason Mazzola has resigned as CEO and Director of the company. Bruce Smith has been named CEO, and Ed Anderson as Executive Chairman.
• Coach Inc. announced Joshua Schulman has been named President and CEO of the, effective June 5. Previously, Schulman served as President, Bergdorf Goodman.
• Gap Inc. announced Mark Breitbard will join the company in early May as CEO of Banana Republic. Mr. Breitbard was most recently the CEO Gymboree Corp.
• J. Crew Group Inc. announced that Jenna Lyons, President and Creative Director, is leaving the company. The role will not be filled. Somsack Sikhounmuong will be promoted to Chief Design Officer.
• JCPenney Company, Inc. announced Mary Beth West, its chief marketing officer, is leaving the company.
• Kohl’s Corporation has named Greg Revelle as its new Chief Marketing Officer.
• The Neiman Marcus Group announced Joshua Schulman, head of Bergdorf Goodman, will be leaving the company May 10.
• Nordstrom Inc. announced it has eliminated the positions of 106 people nationwide.
• Sportsman’s Warehouse Holdings, Inc. has named Jon Barker as President and COO.
• Tailored Brands, Inc. announced that Bruce Thorn has been promoted to President and COO, and Dinesh Lathi has been named Chairman.
• Under Armour Inc. named Clay Dean as its new Chief Innovation Officer.
Financial Focus
• Payless ShoeSource Inc. has filed a Chapter 11 reorganization petition in U.S. Bankruptcy Court.
Mergers and Acquisitions
• Samsonite Corp. has acquired eBags. The company will become a wholly-owned subsidiary of Samsonite, keep its name, and will remain in Greenwood Village, CO.
• Stage Stores Inc. announced it has acquired about half of Gordmans Stores Inc.’s locations. Based on the agreement, a subsidiary of Stage Stores will acquire a minimum of 50 Gordmans store leases, and plans to maintain the Gordmans brand.
• Walmart Stores Inc. announced it plans to acquire online fashion brand ModCloth, Inc.
Industry Insight
• Bebe Stores Inc. is planning to close its 170 stores and focus on its e-commerce business.
• Dick’s Sporting Goods Inc. announced the company is dropping 20% of its brand offerings.
• Macy’s Inc. announced it will be the exclusive US department store retailer for DKNY apparel and accessories starting February 2018. The partnership also includes enhanced DKNY in-store shops.
• Ralph Lauren Corporation announced it is closing its Fifth Avenue Polo store and reducing its corporate workforce. The company also will continue to explore other retail concepts, including Ralph’s Coffee and developing new store formats.
• Rogers Enterprises Inc. has announced plans to roll out a new discount store model at two Chicago area stores, which will reopen as Rogers & Hollands Outlet.
Real Estate
• Ashley Stewart opened its first Ashley Stewart Lab new concept store in Newark, NJ. The 4,500 sq. ft. location will offer a full range of products as well as a social lounge.
• Destination XL Group Inc. is opening its first Canadian store. The 5,028 sq. ft. location will be in Ajax, ON.
• Foot Locker Inc. opened the doors to its first Footaction store outside of the United States. The 6,500 sq. ft. store is located in the Toronto Eaton Centre in Canada.
• Forever 21 Inc. announced that it will open more than 40 of its F21 Red units this year, bringing the number of F21 Red stores to more than 70.
• Gander Mountain recently closed 32 of its underperforming locations in 11 states, after filing for Chapter 11 bankruptcy protection.
• Nordstrom Inc. announced it will open a Nordstrom Rack store at Cascade Station in Portland, OR. The 28,000 sq. ft. store is scheduled to open in fall 2017.
• Payless ShoeSource Inc. announced plans to reorganize operations by closing 400 to 500 stores.
• South Moon Under announced plans to open more than 20 stores by 2019, with locations in Florida, Alabama, North Carolina, South Carolina and parts of the Midwest.
• UNIQLO has announced that it will open its first store in British Columbia. The 20,630 sq. ft. location will open in Burnaby, BC this fall.
• Von Maur Inc. has opened its first location in Wisconsin. The 150,000 sq. ft. store is located at The Corners of Brookfield in Brookfield, WI.
