Shoe Carnival Inc. reported record sales in the third quarter as same-store sales grew 12.6 percent and online sales more than tripled. Earnings were down slightly due to \higher shipping costs from elevated online sales and a shift to adult athletic sales which typically carry lower margins than non-athletic footwear.
J.C. Penney’s discussions with potential acquirers of the company have hit a “stalemate” and the bankrupt retailer’s top lenders are considering making a “credit bid” to own the retailer as a stand-alone company. If the deal goes through, the lenders would own J.C. Penney, likely as a much smaller company than currently. Top lenders include H/2 Capital Partners.
Jon Wexler, VP/GM of Yeezy, will leave Adidas on August 31. In an internal memo to staff obtained by WWD, Adidas wrote, “We regret to inform you that Jon Wexler, VP/GM of Yeezy, has decided to leave Adidas to pursue interests outside the company, effective August 31. Jon, also known by many as ‘Wex,’ joined Adidas in 2000 and quickly developed through a number of positions in brand communications and EIM.
In June, the Council of Fashion Designers of America (CFDA) announced it would take steps to create a more equal fashion industry. As fashion looks for meaningful ways to take action, the CFDA continues to make changes, now with the development of the Black advisory board.