{"id":13032,"date":"2024-07-26T16:32:15","date_gmt":"2024-07-26T16:32:15","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-nike-and-journeys-make-c-suite-appointments\/"},"modified":"2024-07-26T16:32:15","modified_gmt":"2024-07-26T16:32:15","slug":"the-weekly-closeout-nike-and-journeys-make-c-suite-appointments","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-nike-and-journeys-make-c-suite-appointments\/","title":{"rendered":"The Weekly Closeout: Nike and Journeys make C-suite appointments"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.retaildive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"\"\/><br \/>\n            Listen to the article<br \/>\n            <span class=\"text-to-speech__button__audio-length\">9 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1722007740\/news\/text_to_speech\/weekly-closeout-nike-chief-information-officer-journeys-chief-marketing-officer-belk-dicks-olympics_eisxmh.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have feedback.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p>It\u2019s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we\u2019re still thinking about.\u00a0<\/p>\n<p>From J.C. Penney\u2019s sweet partnership to Dick\u2019s Sporting Good\u2019s play to secure its spot at the 2028 Olympics,\u00a0here\u2019s our closeout for the week.<\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What you may have missed<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>Nike names new CIO<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Nike has hired a new chief information officer, Cheryan Jacob, the retailer confirmed via email this week. Jacob, whose previous <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>work experience includes Salesforce<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, Flexport and Microsoft, joined the athletics retailer this month, according to his LinkedIn profile.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Jacob describes his role on LinkedIn as, \u201csimplifying, standardizing, and modernizing Nike&#8217;s platforms, developer experience, cloud, information security, and technology operations while taking a horizontal end-to-end view of the key foundational capabilities that enable, support and protect all of Nike&#8217;s global technology team and the larger enterprise.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Nike\u2019s former chief digital and information officer, Ratnakar Lavu, <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>left the company<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> early in 2023.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Journeys names chief marketing officer<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Footwear retailer <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Journeys on Monday named Stacy Doren as executive vice president and chief marketing officer<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, effective Aug. 1.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Doren spent over two decades at Levi\u2019s in various roles, including as vice president of Levi&#8217;s Americas Marketing.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>&#8220;Stacy is an exceptional marketing leader with a resolute commitment to consumer-centric strategies. Her brand-building capabilities and strategic foresight make her the ideal partner in shaping Journeys&#8217; future chapters,&#8221; Journeys Group President Andy Gray said in a statement.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In her new role, Doren will oversee all the company\u2019s marketing functions, reporting directly to Gray.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Dick\u2019s partners with Team USA for \u201928 Olympics<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Dick\u2019s Sporting Goods has <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>secured an exclusive partnership<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> as the official sporting goods retail provider for Team USA and the 2028 Olympics in Los Angeles. Dick\u2019s will also serve as an official Olympic Team USA supporter for the Paris Olympic games, which are in progress, and the 2026 Winter Olympics in Italy.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The partnership also includes travel and training apparel, using Dick\u2019s owned brands, for 11 Team USA national governing bodies, beginning with the USA canoe\/kayak team this summer. Additionally, the deal opens an opportunity to co-create exclusive LA28-branded gear with LA28 licensees offered for sale through Dick\u2019s stores and online.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Dick\u2019s plans to kick off the celebration of Paris 2024 with ad placements during NBCUniversal&#8217;s coverage of the upcoming Olympic and Paralympic games. The retailer first partnered with Team USA during the 2016 Rio and PyeongChang 2018 games.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Ollie\u2019s debuts credit card<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Ollie\u2019s has partnered with financial tech company Sunbit to <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>offer a co-branded Visa credit card<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, the company said Tuesday. It\u2019s the retailer\u2019s first credit card for customers.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Cardholders can earn points for purchases at Ollie\u2019s and everywhere else Visa is accepted. The card\u2019s features include a $10 statement credit for signing up; automatic enrollment into the Ollie\u2019s Army loyalty program for non-members; and additional loyalty points for every $2 spent at Ollie\u2019s or anywhere the card is accepted.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThis program builds on our industry-leading Ollie\u2019s Army loyalty program, offering greater flexibility to our customers and enhancing loyalty with our members,\u201d Ollie\u2019s President Eric van der Valk said in a statement. The credit card program should be live \u201cwithin months\u201d and without any technology integration required from Ollie\u2019s, which said it currently has 522 stores in 31 states.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>Retail Therapy<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>J.C. Penney\u2019s sweetest collaboration<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>J.C. Penney\u2019s <span><span>latest collaboration collection is \u201cfor the inner child in us all.\u201d<\/span><\/span>\u00a0The department store retailer on Thursday announced it teamed up with Haribo, the brand famous for its gummy candy, to launch a limited-edition collection, according to a press release. <\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"Models wearing the Haribo x JCPenney collaboration hoodies and shirts.\" data-imagemodel=\"163387\" src=\"https:\/\/www.retaildive.com\/imgproxy\/j0f6yY5DA3yjpnRs1iHgh5ij5zlAxTAoavGaLWjOcs8\/g:ce\/rs:fit:480:224\/bG9jYWw6Ly8vZGl2ZWltYWdlL0NPUlBDT01NX1dLMjVfQkVBUl9CTE9HX0lNQUdFXzEzMjB4NjE3LmpwZw==.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Courtesy of J.C. Penney x Haribo<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p>\u201cWith so many fun and colorful options, it mirrors our vision of feeling like a kid in a candy store marveling at the tasty variety of Haribo\u00a0favorites like Goldbears, Twin Snakes and Starmix,\u201d\u00a0Seth Klugherz, Haribo\u2019s\u00a0vice president of marketing, said in a statement.\u00a0\u201cThis \u2018Goldbear Wear\u2019\u00a0collection is a playfully unexpected chance for families to have fun with Haribo through displaying their fandom and we can\u2019t wait to see their excitement.\u201d<\/p>\n<section class=\"storylines-carousel-wrapper hide-small show-large\" id=\"desktop-carousel\"\/>\n<p><span><span><span><span><span><span>Designed for young adults, teens and kids, the collection includes T-shirts, sweaters, pants, shorts and accessories. The first drop, which is available in select stores and online, is available now. J.C. Penney and Haribo plans to drop a holiday collection \u2014 featuring apparel, sleepwear and accessories in festive colors \u2014 on Nov. 7.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Poppi adds guac?<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Ahead of National Avocado Day on Wednesday, soda brand Poppi\u00a0tapped Avocados From Mexico to launch a unique spin on guacamole.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"A brand image of Poppi&amp;#x27;s Guac recipe with Ginger Lime Poppi\" data-imagemodel=\"163382\" src=\"https:\/\/www.retaildive.com\/imgproxy\/zivFzjQZJG4S6hQHgQoPND521QHIlRQFAgyFBMtlgRE\/g:ce\/rs:fit:1000:563\/bG9jYWw6Ly8vZGl2ZWltYWdlL05hdGlvbmFsX0F2b2NhZG9fRGF5X0F2b2NhZG9zX0Zyb21fTWV4aWNvLmpwZw==.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Courtesy of Poppi<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p>The pair has introduced \u201cPop-Guac,\u201d a guacamole recipe using Avocados from Mexico and Poppi\u2019s Ginger Lime soda.<\/p>\n<p>\u201cInnovation is at the heart of our brand, and Pop-Guac shows avocado fans a new way to enjoy the great taste of guacamole on one of our favorite occasions, National Avocado Day,\u201d\u00a0Avocados From Mexico President and CEO Alvaro Luque said in a statement.<\/p>\n<p><span><span><span><span><span><span>To coincide with the launch, Avocados from Mexico is hosting an Instagram giveaway through Wednesday to gift a Pop-Guac kit that contains everything needed to make the recipe.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What we\u2019re still thinking about<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>$950M<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s how much <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Belk shrunk its debt load<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>.<span><span><span><span><span><span>\u00a0The department store retailer also secured about $485 million in new loans, according to a Tuesday announcement.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>At the same time, some of Belk\u2019s lenders \u2014 including KKR and Hein Park \u2014 have taken a controlling interest in the company.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The debt reduction marked the biggest financial relief since the department store filed for bankruptcy in 2021.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>$2.5M<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s how much <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Walmart has agreed to pay to settle class-action wage claims<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>. The suit alleged the mass merchant failed to compensate over 80,000 hourly workers in Arizona for time spent undergoing mandatory pre-shift COVID-19 screenings, which took about 10 to 15 minutes.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>According to the settlement, each worker will receive about 50% of their potential claim based on the number of weeks worked between April 10, 2020, to February 28, 2022, within the Arizona store.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<section class=\"storylines-carousel-wrapper show-small hide-large\" id=\"mobile-carousel\"\/>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What we\u2019re watching<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>Ulta stock downgraded amid increasing competition, promotions<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Piper Sandler analysts led by Korinne Wolfmeyer downgraded Ulta\u2019s stock to neutral and lowered its price target for the beauty retailer on Wednesday, citing increased competition and promotions. The analysts specifically noted Sephora\u2019s increased presence in Kohl\u2019s and Amazon\u2019s growth in the beauty space, which are pressuring Ulta, as well as slower growth in Ulta\u2019s loyalty program.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Ulta itself in its most recent quarter <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>seemed to allude to pressure from Sephora<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, noting competition from 1,000 new points of distribution in the prestige beauty space in the past two years. (Sephora, which announced its Kohl\u2019s deal in 2020, had <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>opened shop-in-shops in 900 Kohl\u2019s stores<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> by the end of 2023.) While Ulta has its own deal with Target, announced around the same time, the partnerships <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>put Sephora and Ulta in more direct competition<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> with each other and Sephora\u2019s rollout has been faster than Ulta\u2019s. Piper Sandler noted that Ulta is in just 540 Target stores, in comparison.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Ulta\u2019s 43 million loyalty members still represent a \u201cvery strong\u201d program, according to Piper Sandler, but slowing growth suggests more competition. The analysts have also witnessed younger shoppers shifting spend from Ulta to Sephora and Amazon over the past two years in its semi-annual teen surveys.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThe bottom line is that management looks to be increasingly pulling on traffic drivers, and despite efforts to improve efficiencies in the supply chain, which we&#8217;ve historically been positive on, we don&#8217;t believe it&#8217;s enough to offset the several sources of margin dilution,\u201d the analysts wrote. \u201cAs such, we believe a rather lackluster long range plan come October is probable.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen to the article 9 min This audio is auto-generated. Please let us know if you have feedback. It\u2019s been another week with far more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-13032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/13032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=13032"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/13032\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/13033"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=13032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=13032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=13032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}