Foot Locker, Inc. announced on Tuesday the appointment of Sonia Syngal and John Venhuizen as directors of its board, effective January 12.
The U.S. footwear retailer also announced that Guillermo Marmol will not stand for reelection at the company’s 2025 Annual Meeting of Shareholders, in accordance with the firm’s director retirement age policy within the company’s corporate governance guidelines.
Syngal is retail executive with two decades of industry experience spanning e-commerce sales, global supply chain, operations, brand strategy and marketing.
She most recently served as president and chief executive officer of Gap, Inc., including overseeing Old Navy, Gap, Banana Republic, and Athleta. She also served in other leadership roles within the organization, including division president & CEO, Old Navy and executive vice president, global supply chain. She currently serves as a member of the board of directors of Tanger, Inc.
Likewise, Venhuizen has served for 12 years as president and chief executive officer of Ace Hardware Corporation, after having previously served as its president and chief operating officer. During his 30-year tenure at Ace, he has held positions of increasing responsibility including leadership roles overseeing marketing, store operations, strategy, business development, supply chain, IT and international.
“In line with our continued focus on regular refreshment to ensure we have the right mix of skills and experience on our board, we are delighted to welcome Sonia and John as new independent directors,” said Dona Young, non-executive chairman, Foot Locker.
“Both Sonia and John bring substantial leadership and retail industry expertise, and we are confident both will be valuable additions to our board. We are pleased to benefit from their respective insights as we continue to oversee execution of the company’s initiatives and focus on delivering shareholder value. On behalf of the entire board, I would also like express our sincere gratitude to Gil for his significant contributions to Foot Locker, Inc. during his time as a director.”
In its most recent trading update in December, Foot Locker cut its full-year sales and profit forecasts, citing more discounts and a pullback in consumer spending ahead of the crucial holiday season.
Burberry announced a key appointment on Friday with the luxury business saying it will soon have a new chief information officer.
It has appointed Charlotte Baldwin to the role and she’ll join the business at the end of March. Baldwin will be responsible for leading Burberry’s global technology team and will join the executive committee. She’ll report directly to Burberry CEO Joshua Schulman.
He described her as “a highly experienced technology and digital leader with a track record of leading large-scale digital transformation”.
She hasn’t previously worked in the luxury fashion sector but has wide-ranging experience across some major-name businesses in Britain.
She’s currently the global chief digital and information officer at coffee chain Costa Coffee where she oversees the company’s technology, digital and data organisation.
Prior to joining that firm, she was the chief information, digital and transformation officer at private healthcare giant Bupa’s Bupa Insurance unit. She’s also held senior roles at Freshfields Bruckhaus Deringer, Pearson and Thomson Reuters.
Burberry has been navigating a tough period of late and Schulman joined in the top job last year, tweaking the firm’s strategy. His approach seems to be paying off with the company last week porting improved results, although the turnaround is still undeniable a work in progress.
Another day, another shopping centre delivering a “record-breaking” performance in 2024. This time it’s Gloucester Quays “capping off another year of considerable growth”, for the owner/operator Peel Retail & Leisure.
That included record Christmas trading at the key Gloucester mall, which helped overall sales for the year finish 6.7% ahead of the national average. Across November and December, retail sales grew 3.6% compared with 2023.
Looking at 2024 in total, an overall 7.4% year-on-year sales increase across its tenants was split between 6.1% for retail, and 8.5% for F&B.
But there was also double-digit growth from leading fashion, homewares, and outerwear brands including Next, Skechers, All Saints, Mountain Warehouse, Puma, Crew Clothing and Suit Direct.
It said sustained growth was seen across all categories “points to the increasing relevance of the Gloucester Quays experience”.
Paul Carter, asset director at Peel Retail & Leisure, added: “There have been various headlines this month about how challenged retail was around Christmas, so to have Gloucester Quays performing so well is a real credit to our team and our brands.
“These results also serve as a reminder of how relevant and in demand this outlet is. We have experienced consistent growth for several years, and that success can be put down to the quality of our offer and waterside environment. There is no doubt our catchment is responding to how we have evolved Gloucester Quays, as an urban outlet that combines a compelling shopping environment with dining and leisure to fit all tastes and needs, benefitting from a heritage waterside setting that few regionally can match.”
Italy’s Give Back Beauty, which makes perfumes for luxury brands such as Chopard and Zegna, on Friday said it had agreed to buy domestic rival AB Parfums to grow its distribution operations and add licensing deals.
Fragrances have been outperforming the broader beauty sector and Give Back Beauty founder and Chairman Corrado Brondi told Reuters his company did not rule a possible bourse listing in the future, adding it had no financial need for it at present.
Brondi said AB Parfumes had sales of around €100 million, which would add to Give Back Beauty’s net revenues that totalled around €300 million in 2024.
Give Back Beauty, which was founded in 2019 and has a distribution deal with Dolce & Gabbana and a beauty license with Tommy Hilfiger, has a core profit margin currently a little over 15%, it said.
AB Parfums is being sold by Italy’s Angelini Industries, a family-owned group that is mostly active in the pharmaceutical sector.
Give Back Beauty’s business is currently focused on fragrances, which represent roughly 70% of its revenues, but it aims to grow its skincare, make-up and haircare product lines, Brondi said.