Walmart has agreed to sell to CriticalPoint Capital, the Los Angeles based private investment firm and owner of JackRabbit and Olympia Sports, according to a report from Bloomberg. Walmart bought’s intellectual property for $9 million in 2017. It made the flagship domain for ShoeBuy, which it bought from IAC in 2016.

Timberland announced a goal for its products to have a net positive impact on nature by 2030. The goal includes having all products designed for circularity and made from natural materials sourced from regenerative agriculture.

Learn from Stephanie Greenfield, Managing Director of Product Development at Dan Post Boot Company, how the iconic western brand is leveraging digital product testing and the Voice of the Customer to get to market faster with winning new styles.

Industry associations are calling for the swift renewal of the Caribbean Basin Trade Partnership Act (CBTPA), which has helped U.S. businesses facilitate trade within the region—most notably, with Haiti. The American Apparel and Footwear Association (AAFA), the Footwear Distributors and Retailers of America (FDRA)...
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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.
Toms, the company that designs and markets shoes as well as eyewear, coffee, apparel, and handbags, based in Los Angeles, CA, generated a total of $2 million in support of COVID-19 front line workers. This follows its move in March to direct one-third of its net profits from every product sold into a COVIDD-19 Global Giving Fund.

To commemorate the anniversary of Martin Luther King Jr.’s historic “I Have a Dream” speech, Rack Room Shoes has donated $25,000 to the National Urban League. The donation will help the National Urban League’s mission of providing direct services that impact and improve lives in underserved communities and the fight for economic empowerment, equality and social justice. 

Over the last few years, drone delivery has grown from an unproven idea into a fully functional business model, albeit with limited applications. UPS was granted FAA approval to carry out commercial drone deliveries last year, and its Flight Forward arm has since begun working with hospitals on implementing drone applications.

In his first shareholder letter since taking over as Nike’s CEO and president in January, John Donahoe wrote that COVID-19 “offered a stress-test” of its Consumer Direct Offense strategy while stating “Nike’s underlying strengths and resilience have become even more evident in this crisis.”