{"id":13555,"date":"2024-11-03T20:08:36","date_gmt":"2024-11-03T20:08:36","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-brooks-running-hits-revenue-record-and-ollies-bargain-outlet-acquires-former-big-lots-stores\/"},"modified":"2024-11-03T20:08:36","modified_gmt":"2024-11-03T20:08:36","slug":"the-weekly-closeout-brooks-running-hits-revenue-record-and-ollies-bargain-outlet-acquires-former-big-lots-stores","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-brooks-running-hits-revenue-record-and-ollies-bargain-outlet-acquires-former-big-lots-stores\/","title":{"rendered":"The Weekly Closeout: Brooks Running hits revenue record and Ollie\u2019s Bargain Outlet acquires former Big Lots stores"},"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\">7 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\/v1730476559\/news\/text_to_speech\/weekly-closeout-brooks-running-revenue-record-ollies-big-lots_e9rwlt.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 a new executive at Wolverine World Wide to a multimillion-dollar sign-on bonus at Ross, here\u2019s our closeout for the week.<\/p>\n<h3 class=\"standard-heading\">What you may have missed\u00a0<\/h3>\n<p><span><span><span><span><em><span>Brooks Running hits record revenue in Q3<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Brooks Running, which is privately held, on Tuesday released financial figures for its third quarter. The athletics brand said it set a new revenue record, <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>surpassing $1 billion in global revenue<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> year to date. That marks \u201cthe first time the leading running brand has hit the major milestone prior to the start of its fourth quarter.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>By region, the brand reported North America revenue grew 10% year over year;\u00a0Asia Pacific,\u00a0Latin America revenue grew over 30%; and Europe, Middle East and Africa rose 10%.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>For Brooks\u2019 e-commerce business, it grew 16% in North America and 24% in the Europe, Middle East and Africa region.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Wolverine World Wide names active group president<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Wolverine World Wide has appointed <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Susie Kuhn as the company\u2019s active group president<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, overseeing the Merrell, Saucony and Chaco brands.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In her new role, Kuhn will lead brand strategies, execute on consumer-focused go-to-market plans and drive commercial performance within the active group of brands.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" data-imagemodel=\"-1\" src=\"https:\/\/imgproxy.divecdn.com\/O9itPyGQMSNRiLQQI9Any5rdwNdv00PpfJFQ8uZdSrQ\/raw:1\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9TdXNpZV9LdWhuX0FjdGl2ZV9Hcm91cF9QcmVzX2hlYWRzaG90LmpwZw==\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Susie Kuhn<\/p>\n<p>Courtesy of Wolverine World Wide\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>\u201cWe\u2019re excited to welcome Susie to the team and are confident that her diverse, global experience working with leading brands \u2013 coupled with her collaborative, results-driven leadership style \u2013 will help drive our Active Group brands and the entire Company forward,\u201d CEO Chris Hufnagel said in a statement. \u201cShe has managed virtually all aspects of consumer-focused businesses in her previous roles \u2013 working on both the brand and retail side of the business while focusing squarely on customer journeys, driving the business, and keeping a pulse on consumer and marketplace trends.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Kuhn has more than 25 years of global-brand building experience, including senior leadership roles with Foot Locker, Nike and Converse.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Levi\u2019s appoints managing director for Latin America<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>On Monday, Levi Strauss &amp; Co. <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>appointed Dario Aguilar as managing director for Latin America<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>. Aguilar takes on the position effective Dec. 2 and will report to executive vice president and Chief Commercial Officer Gianluca Flore.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Aguilar will oversee Levi\u2019s commercial operations in Latin America across channels and drive \u201clong-term, sustainable growth as a brand-led, DTC-first apparel leader,\u201d per the release.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Aguilar has over 25 years of commercial experience with various leadership roles at Adidas and Nike. Aguilar most recently held the CEO position at Sephora Mexico and before that was CEO of Mexico for the C&amp;A retail chain.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cIt is a career highlight and honor to join LS&amp;Co. and be part of leading the next chapter of growth for the Levi\u2019s brand in Latin America,\u201d Aguilar said in a statement. \u201cTogether with the highly talented team, I look forward to further building our DTC and wholesale business in the region, and to growing our equity and loyalty with Levi\u2019s fans everywhere.\u201d<\/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>What a hoot:\u00a0Spencer\u2019s to offer Hooters merchandise <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Spencer\u2019s is <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>launching a new merch collection<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in partnership with restaurant chain Hooters.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Fans of the beer and wing spot can now shop the collection via the retailer and choose from an offering of Hooters-branded drinkware, apparel and accessories with retro designs in the eatery\u2019s signature orange featuring its mascot, Hootie the Owl. The apparel includes a quarter zip, owl tank and an orange skirt, Spencer\u2019s said in a Monday announcement.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" data-imagemodel=\"-1\" src=\"https:\/\/imgproxy.divecdn.com\/tFqkrAjt2ieHMO-4-Twdn7bHN1peYLcOnZN9qUo0REk\/raw:1\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS8zX2hvb3RlcnNfYXBwYXJlbC5qcGc=\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Courtesy of Spencer\u2019s\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>\u201cThe Hooters brand is known around the world for its craveable menu and one-of-a-kind hospitality, and these creative brand extensions further celebrate the unique role our restaurant and its iconography play in all our lives,&#8221; Bruce Skala, chief marketing officer of Hooters, said in a statement. The new collection is available in stores and online.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Doughnuts for Doughmocracy <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>On Election Day Tuesday, Krispy Kreme is <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>giving a free original glazed doughnut<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> to all guests at participating U.S. shops. The company will also be handing out \u201cI Voted\u201d stickers.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cParticipating in our democracy should be celebrated,\u201d Dave Skena, global chief brand officer at Krispy Kreme, said in a statement. \u201cSo, we\u2019re happy to sweeten everyone\u2019s day with free Original Glazed doughnuts on Election Day.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What we&#8217;re still thinking about <\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>$7.6M<\/span><\/em><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\u00a0<\/span><\/span><\/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>Ross\u2019s new CEO<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, James Conroy, will receive as a sign-on bonus on his start date of Dec. 2, according to U.S. Securities and Exchange Commission documents. Conroy will also receive a stock award with a value of $32.2 million that vests 40% in September 2025 and a relocation bonus of $800,000.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>$46.6M<\/span><\/em><\/span><\/span><\/span><\/span><span><span><span><span><span><span> \u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s how much Bebe Stores <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>sold its membership interests<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in the Bebe and Brookstone brand joint ventures for in cash to Bebe. With the proceeds, the company paid down all of its outstanding debt, according to a press release. Bebe Stores owns and operates, via a subsidiary, a fleet of over 60 rent-to-own Buddy\u2019s Home Furnishing franchise stores throughout the Southeast. <\/span><\/span><\/span><\/span><\/span><\/span><\/p>\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>Ollie\u2019s expands store footprint into defunct Big Lots locations<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Ollie\u2019s Bargain Outlet recently acquired eight former Big Lots store leases, for a total of <span><span>15 locations <\/span><\/span><span><span>to date <\/span><\/span>following two rounds of bankruptcy auctions, the company said Tuesday. The most recent Big Lots auction round included 176 stores. Big Lots <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>filed for Chapter 11 bankruptcy<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in September but plans to stay in business following a reorganization.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>&#8220;With the ongoing nature of the Big Lots store closure process, we will maintain a fluid store opening program that optimizes productivity and pre-opening expenses between the recently acquired Big Lots locations and our existing real estate pipeline,\u201d Ollie\u2019s President Eric van der Valk said in a statement. \u201cIn 2024, we are on track to open 50 new stores, less two planned closures, and are evaluating the impact of the acquired Big Lots leases on our future store openings and cadence for the first half of fiscal 2025.\u201d As of this week, Ollie\u2019s said it operated 545 stores in 31 states.<\/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 7 min This audio is auto-generated. 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