Week In Review
Macy’s Inc.’s Hal Lawton stepped down from his role as the company’s president on Dec. 6. On Jan. 13, Lawton will join Tractor Supply Co. as the president, chief executive officer and a member of the board for the rural-lifestyle retailer, which is headquartered in Brentwood, Tenn. It was announced Dec. 5 that Lawton would helm Tractor Supply, said Cynthia Jamison, Tractor Supply’s chairman of the board. “Hal is a proven leader with unique omni-channel experience to deliver on our customers’ evolving expectations as we look to the future of retail,” she said. On Nov. 21, Macy’s Inc. reported results for the third quarter of its 2019 fiscal year. Net sales were $5.1 billion; comparable sales for the quarter declined 3.5 percent.
Balmain Chief Executive Officer Massimo Piombini left his job helming the French luxury brand this week. Piombini left for personal reasons, according to media reports. He had led Balmain since April 2017. The departure comes shortly after Balmain introduced a boxing-inspired streetwear collaboration line with the Puma brand. Supermodel Cara Delevingne has served as the face of the line, which includes tracksuit separates, bra tops, boxing shorts and sneakers.
Reebok announced Dec. 3 the introduction of the sustainable sneaker Forever Floatride GROW. Instead of using plastics in the running shoe, plant-based materials are used to construct it. The sneaker’s midsole is built from sustainably grown castor beans. A natural rubber outer sole was sourced from rubber trees rather than petroleum-based material, said Bill McInnis, vice president of Reebok Future. “With Forever Floatride GROW, we’re replacing oil-based plastic with plants,” he said. Matt O’Toole, president of the Reebok brand, said the Forever Floatride GROW is the most sustainable performance running shoe on the market.
VF Corp., the parent company of Vans, The North Face and Timberland brands, announced Dec. 5 targets for sustainability in its “Made for Change” report. The company pledged to reduce its environmental impact while developing new opportunities with a circular business model. This model has become popular in sustainability circles. It aspires to reduce waste and cut pollution while improving how supply chains function, according to the group Organization for Economic Cooperation and Development. The report said that 50 percent of VF’s distribution centers are zero-waste facilities. It is also working to improve the lives of people working on its products in developing nations with VF’s Worker and Community Development Program.
The Pantone Color Institute announced the 2020 color of the year will be Classic Blue. Leatrice Eiseman, executive director of the institute, said that the 2020 color will challenge the people around the world to broaden their perspectives. “We are living in a time that requires trust and faith.,” she said. “Imbued with a deep resonance, Classic Blue provides an anchoring foundation. A boundless blue evocative of the vast and infinite evening sky, Classic Blue encourages us to look beyond the obvious to expand our thinking.” For more than 20 years, Pantone has been introducing colors of the year. In 2019, the Pantone color was Living Coral.