Industry Updates: Apparel Specialty Stores and Department Stores – February 2016
Adidas America has named Kasper Rorsted as its new CEO, becoming effective in October when the company’s current CEO, Herbert Hainer, steps down.
Cabela’s Inc. announced Scott Williams has been elevated to the role of President and given additional responsibility for U.S. retail operations and all operations in Canada.
Gap announced Craig Brommers was appointed Senior VP and Chief Marketing Officer.
Genesco Inc. announced that Senior VP and President Ken Kocher has resigned.
JCPenney Company Inc. appointed Joe McFarland as Exec VP Stores, effective immediately, succeeding Tony Bartlett.
Lands’ End Inc. announced that it has named James Gooch as its new Exec VP, COO and CFO. He will succeed Michael Rosera, who will be leaving the company.
Macy’s Inc. named Peter Sachse Chief Growth Officer with added responsibility for merchandising and announced Justin MacFarlane joined the company as Chief Strategy, Analytics and Innovation Officer.
Nike Inc. announced Adam Sussman will become the company’s first-ever Chief Digital Officer.
Tandy Leather Factory, Inc. has named Shannon Greene, currently CFO, as Interim CEO of the company after Jon Thompson resigned. Senior VP Mark Angus will assume the role of Interim President
The Buckle, Inc. has announced that Patricia Whisler, currently Senior VP of Women’s Merchandising, will retire from her position with the company later this spring.
American Apparel announced it has emerged from Chapter 11 as a private company known as American Apparel, LLC.
Mergers and Acquisitions
BSN Sports announced that it has acquired Lids Sports Group, from Genesco Inc.
Chico’s FAS has sold Boston Proper to Brentwood Associates, a Los Angeles-based, consumer-focused private equity firm.
Barneys New York opened a store in New York’s Chelsea neighborhood on Feb. 15.
H&M plans to open 425 stores in 2016, with a focus on expansion in the United States and China. The company will also enter several new markets this year, including New Zealand, Puerto Rico and Cyprus.
JCPenney Company, Inc. announced that it has introduced a leading assortment of kitchen and laundry appliances in 22 pilot stores in the San Antonio, San Diego and Tampa area stores. Each pilot location will feature 90 to 150 appliance models in a dedicated showroom staffed by trained and knowledgeable associates. The company plans to make a broad assortment of major appliances available on jcp.com starting this spring.
Macy’s Inc. announced that a Bloomingdale’s store is planned to open in spring 2017 in Kuwait. The three-level, 93,000 sq. ft. store will anchor 360 Mall in Al Zahra, one of the most upscale and successful commercial and residential areas of Kuwait.
The Men’s Wearhouse Inc. is now known as Tailored Brands, Inc. The company’s ticker symbol changed to TLRD.
Coach Inc. will open a New York City flagship to celebrate its 75th anniversary this fall. The 20,000 sq. ft. store will be located at 685 Fifth Ave.
Nordstrom Inc. plans to open a Nordstrom Rack at The Market Place in Tustin, CA. The approximately 32,500 sq. ft. store is scheduled to open in fall 2016.
PGA Tour Superstore continues to broaden its footprint with its first store in Utah. The 25,000 sq. ft. store will open in Sandy, UT, in April.
Primark will open a 100,000 sq. ft. store in The American Dream Mall in northern New Jersey in 2017.
Recreational Equipment Inc. will open a 27,000 sq. ft. store in Rochester, NY, in fall 2016, and a 25,000 sq. ft. store in Winter Park, FL., in spring 2017.