Cliff Sifford is returning to a larger role at Shoe Carnival as its interim president and chief executive officer following the abrupt exit of his former successor Mark Worden. The Fort Mills, S.C.-based footwear retailer announced the move on Wednesday in a statement that also noted that Worden “departed” from his role as the company’s president and CEO and had resigned as a member of the board of directors, effective Feb. 24. More from WWD Sifford, who is currently the retailer’s vice chairman of the ...

FORT MILL, S.C.--(BUSINESS WIRE)--Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of footwear and accessories for the family, announced today that Cliff Sifford, the Company's current Vice Chairman of the Board, has been named the Interim President and Chief Executive Officer of the Company, effective February 24, 2026. Mr. Sifford succeeds Mark Worden, who departed from his position as the Company's President and Chief Executive Officer and resigned as a member of the Board of Directors. ...

Core Viewpoint - A coalition of over 800 small businesses is demanding refunds for tariffs imposed by the Trump administration after the Supreme Court ruled against these tariffs, despite Trump's rejection of the refund idea [1][3][4]. Group 1: Coalition's Demands - The coalition, named We Pay the Tariffs, is seeking "full, fast and automatic" refunds for the tariffs they believe were unjustly imposed [1][6]. - Executive Director Dan Anthony stated that coalition members have collectively paid billions in tariffs that should not have been levied [2]. Group 2: Impact on Businesses - Members of the coalition, including various sectors such as restaurants, manufacturers, and retailers, have reported significant financial burdens leading to layoffs and halted growth plans [6][7]. - Rick Muskat, president of Deer Stags Concepts, emphasized that the refund process should be straightforward since tariffs were billed at the line-item level on Customs Entry forms [7]. Group 3: Financial Context - In 2023, the U.S. government collected $289 billion in revenue from tariffs and certain excise taxes, with $98 billion collected in 2024 [7].

Dow Jones, S&P 500, Nasdaq gains after Supreme Court tariff ruling: Stocks edged higher Friday after the Supreme Court ruled against US president Donald Trump’s sweeping tariffs, giving a lift to retailers and other companies that had struggled with rising import and manufacturing costs tied to the duties.Dow Jones Climbs After Supreme Court Tariff Ruling - DJIA Today Recovers From Early Losses After Economic Data MissThe Dow Jones Industrial Average rose 93.81 points, or 0.2%, recovering from an earlier 20 ...

Core Insights - Designer Brands has appointed Sheamus Toal as the new chief financial officer, effective February 16, replacing Jared Poff who stepped down after 10 years [1][2] Group 1: Leadership Changes - Sheamus Toal joins Designer Brands from The Children's Place, where he served as COO and CFO, and has extensive experience in senior leadership roles at New York & Company [3] - Mark Haley, who was the interim principal financial officer, will return to his previous role as senior vice president, controller, and principal accounting officer [2] Group 2: Strategic Vision - Toal expressed enthusiasm about joining Designer Brands and aims to strengthen financial and operational capabilities while supporting long-term growth strategies [4] - CEO Doug Howe highlighted Toal's financial expertise and operational leadership as crucial for executing strategic initiatives and driving long-term value [4] Group 3: Organizational Changes - The appointment of Toal follows recent layoffs at Designer Brands, which were conducted across operations and brands, although the exact number of affected employees was not disclosed [5] - A spokesperson indicated that the organizational changes aim to simplify structure, reduce complexity, and enhance speed and accountability, ultimately creating long-term value [6]

Core Viewpoint - Designer Brands Inc. has appointed Sheamus Toal as Chief Financial Officer, effective February 16, 2026, to enhance financial and operational leadership during a transformative period for the company [1] Group 1: Appointment Details - Sheamus Toal will serve as Executive Vice President, Chief Financial Officer, and Principal Financial Officer [1] - Mark Haley will return to his role as Senior Vice President, Controller, and Principal Accounting Officer after serving as Interim Principal Financial Officer [1] Group 2: Sheamus Toal's Background - Sheamus Toal has extensive financial and operational experience from leadership roles in both public and private companies [1] - He previously served as Chief Operating Officer and Chief Financial Officer of The Children's Place, where he improved liquidity and optimized a digitally-driven business model [1] - His past roles include Executive Vice President and Chief Financial Officer at Saatva.com, where he significantly increased revenue and profitability [1] Group 3: Company Overview - Designer Brands is a leading designer, producer, and retailer of footwear and accessories, with a diverse portfolio of brands including Topo Athletic, Keds, and Jessica Simpson [1] - The company operates a billion-dollar digital commerce business and has over 670 retail locations in North America [1] - Designer Brands is committed to corporate social responsibility, having donated over twelve million pairs of shoes to Soles4Souls since 2018 [1]

Core Insights - Despite the perception of a shift to online shopping, 81.5% of U.S. retail sales are still from brick-and-mortar stores, indicating a strong presence of physical retail [1] - Designer Brands, the parent company of DSW, is facing challenges in the retail environment, leading to layoffs as part of efforts to streamline operations and manage costs [4][5] Company Performance - Designer Brands reported a 3.2% decrease in net sales to $752.4 million in its latest earnings report [10] - The company achieved a gross profit of $339.6 million, with a gross margin of 45.1% [18] - Net income was reported at $18.2 million, translating to a diluted EPS of $0.35, while adjusted net income was $19.6 million, or $0.38 adjusted diluted EPS [18] Market Dynamics - The footwear retail sector has been volatile, with higher-income consumers continuing to spend while lower- and middle-income households are more selective in their purchases [6][8] - Retailers, including Designer Brands, are responding to uneven consumer demand and higher costs by cutting jobs and streamlining operations [16][20] - The trend of cautious spending is particularly evident among lower- and middle-income households, impacting discretionary purchases like footwear [5][6] Industry Trends - The retail landscape is seeing a significant number of layoffs across various companies, with over 17,267 job cuts reported among fashion retailers in 2025 [15] - Retailers are focusing on efficiency and cost management as they navigate a challenging environment marked by inflation and changing consumer behavior [12][20] - The shift towards online shopping has resulted in 18.5% of U.S. retail sales coming from e-commerce, with Americans spending $1.337 trillion online in 2024 [18]

Retail Developments - Adidas opened its first soccer-focused flagship store in the U.S. at New Jersey's American Dream mall, ahead of the World Cup in North America this summer [2][3] - The store will offer athletic footwear, gear, and lifestyle products, catering to both avid soccer fans and newcomers, with a grand opening planned for February 25 featuring athlete appearances [3][4] - Bob's Discount Furniture made its debut on the New York Stock Exchange, pricing its initial public offering at $17 per share, which is at the lower end of its expected range [5] Market Milestones - Walmart Inc. reached a market value of over $1 trillion, with its share price surpassing $125, maintaining this record market cap since [9][10] - The share price peaked at $128.17 for the day, following Walmart's transfer of its listing from the New York Stock Exchange to Nasdaq in December [9][10] Employment Trends - The number of job cuts in the U.S. rose 118% year over year in January, totaling 108,435, the highest for January since 2009 [11][12] - This significant increase in job cuts signals a less-than-optimistic outlook for the year, with the lowest total job openings for January since 2009 [12]

Core Insights - Designer Brands, owner of Designer Shoe Warehouse, confirmed layoffs occurred last week [1] - The company did not disclose the number of employees affected or departments impacted, nor did it comment on severance or benefits offered [2] - The company aims to simplify its organizational structure to enhance execution, cost management, and long-term value creation [2] Financial Performance - Designer Brands reported a 3.2% year-over-year decrease in net sales, totaling $752.4 million, while comparable sales fell by 2.4% [2] - Net income for Q3 increased by over 46% compared to the previous year, reaching $19.3 million [2] Strategic Focus - CEO Doug Howe emphasized the company's commitment to customer-centric growth through scaling private label, enhancing the wholesale model, and investing in strategic growth brands [3] - The company is focused on delivering a wide range of relevant products across footwear categories to meet customer expectations [3] Leadership Changes - CFO Jared Poff announced his departure after ten years, with Mark Haley serving as interim principal financial officer while a search for a permanent CFO is underway [3]

Core Viewpoint - Boot Barn has raised its guidance for fiscal 2026 after exceeding expectations in Q3, driven by strong sales growth and the ongoing popularity of Western-themed products [1][5]. Financial Performance - In Q3 of fiscal 2026, Boot Barn reported net sales of $705.6 million, a 16% increase from $608.2 million in the same period last year [1]. - Net income for Q3 was $85.8 million, or $2.79 per diluted share, compared to $75.1 million, or $2.43 per diluted share, in the prior-year period [1]. Sales Growth Drivers - The increase in net sales was attributed to new store openings and a rise in consolidated same-store sales [3]. - Boot Barn opened 25 new stores in Q3, bringing the total store count to 514 as of December 27 [3]. Future Expectations - The company anticipates total sales for fiscal 2026 to be between $2.24 billion and $2.25 billion, reflecting a growth of 17% to 18% over fiscal year 2025 [5]. - Net income for the year is expected to be between $222.8 million and $225.8 million, or $7.25 to $7.35 per diluted share [5]. Recent Performance Insights - In the early weeks of the fourth fiscal quarter, consolidated same-store sales grew in the high-single digits, despite recent winter storms impacting sales [4]. - Preliminary same-store sales growth for the five weeks ending January 31 was negatively affected by an estimated $5 million due to store closures from winter storms, but growth was 9.1% for the 26 days prior to the storms [4].