Even as trends improved in the back half of the year, overall deal count and value fell last year compared to 2022.
The biggest beneficiary of the department store’s plan to shrink its footprint is TJX, which runs T.J. Maxx and other retailers, analysts say.
As pressure mounts on the sector from declining hardware sales and rising streaming subscriptions, analysts question the retailer’s long-term survival.
Jack Schwefel’s resignation is effective immediately, and former CFO David Stefko will hold the position until a successor is named.
While that represents meaningful growth, it’s down significantly from a 2022 prediction that the market would reach $82 billion by 2026.
Chief Marketing Officer Kenny Mitchell explains how “The Floor Is Yours” positions the brand as the “unofficial uniform for progress.”
The footwear company is promoting both launches as part of its sustainability commitments.
As part of a DTC focus, the brand said about a year ago that it would double its footprint within five years, but some analysts anticipate that slowing.
The retailer said it sees a long-term potential to operate over 800 stores nationwide.
The round, led by consumer venture group Forecast Labs, will be used to boost sales and explore growth opportunities in retail.