Footwear

In addition to disappointing fourth quarter sales, Under Armour announced that its CFO is stepping down.   The company reported that CFO Chip Molloy is leaving the company “due to personal reasons,” and David Bergman, Under Armour’s senior VP, corporate finance, will serve as acting CFO. Molloy will remain with the company in an advisory capacity to assist with the transition, the brand said.  

Will A. Smith has joined Abercrombie & Fitch Co. as chief marketing officer.   Smith, who will report to president and chief merchandising officer Fran Horowitz, will be responsible for all brand, creative and digital marketing across the chain.   

In an abrupt move, Shoes.com pulled the plug on its operations on Friday, Jan. 27.   The company, which said in September it was preparing for its next phase of growth, took its three e-commerce businesses, Shoes.com, ShoeMe.ca and OnlineShoes.com, offline, and closed the doors to two brick-and-mortar locations in Vancouver and Toronto.  

The CEO of embattled Gymboree Corp. is stepping down.    The children’s apparel retailer said that Mark Breitbard will step down as chief executive once a successor has been named. He will assume the role of chairman of the board, effective February 1, 2017.  

Finish Line is cutting its losses related to its specialty running gear unit.   The sportswear retailer has sold its JackRabbit specialty running store division to CriticalPoint Capital LLC, a Los Angeles-based private investment firm.   

Schostak Brothers has added six multi-tenant properties to its “Shadow Walmart” portfolio of retail space adjoining supercenters, bringing it to a total of 67. The new additions are located in Louisiana, Mississippi, and Texas.   “In the last decade, we have pursued an aggressive growth strategy in order to assemble one of the largest Walmart Supercenter shadow-anchored shopping center portfolios in the United States,” said Schostak COO Warren Strietzel.  

Watch out millennials, Gen Z is coming on strong.   With Generation Z expected to comprise 40% of the North American population by 2020, retailers must address the needs of this generation and understand its purchasing power in households, according to a survey conducted by HRC Retail Advisory.  

Nine West Holdings has entered into an agreement to purchase a 30-years plus women’s apparel company.     Nine West said it has used the net proceeds from the December 2016 sale of its Easy Spirit wholesale business to purchase the Kasper Group. The terms of the transaction were not disclosed.        The Kasper Group's apparel is sold under its flagship Kasper and other well-known brand names.    

J.C. Penney has scored with Nike.   The department store retailer has teamed up with the athletic giant to open Nike branded in-store shops in more than 600 Penney locations across the country. Anchored by a Nike swoosh, the 500-sq.-ft. shops are located within the men’s department,   

PGA Tour Superstore is celebrating the opening of its 28th U.S. store.   The privately held retailer has opened a store in Glendale, Arizona, its fifth location in the western state. Two more locations are in the works for 2017, with one in Hilton Head, South Carolina, and another in Jacksonville, Florida.