Wet Seal CEO John D. Goodman has resigned from the role he took in January 2013. He was charged with turning things around for the struggling retailer and replaced Susan McGalla, who was ousted after 11 months amid declining sales. Goodman is to be succeeded by Edmond Thomas, who rejoins the company as CEO and a member of the board as of Sept. 8.
Kohl’s and AwesomenessTV have teamed up to launch S.o. R.a.d., a seven capsule limited-edition junior’s fashion line and Life’s S.o. R.a.d., an original four season YouTube series featuring top teen influencers.
Broad-line retailer Alco’s shareholders have replaced the company’s board of directors with seven new members, effective immediately. The elections were made at the company’s annual meeting of stockholders in Dallas late last week.
Solid comparable sales gains and a strong topline performance in Genesco’s direct businesses were not enough to offset a sales and gross margin shortfall versus plan at the company’s Lids Sports Group, prompting the company to lower its guidance for the full fiscal year.
Abercrombie & Fitch credited an ongoing profit improvement initiative as driving its net income growth in the second quarter, which increased 13% to $12.9 million, from $11.4 million a year ago, and beat Wall Street estimates.
Soft traffic and promotional activity have continued to put Guess’ North American stores under pressure, but the retailer said it is encouraged by its North American online business, which soared 50% in the second quarter.