Roots CEO steps down after go-private deal; Brooks reports 13th quarter of growth

Roots has completed its go-private transaction after being acquired by Marquee Brands, according to Retail Dive. Following this, Roots CEO Meghan Roach stepped down but will remain as an adviser to the company. Roach had joined Roots as interim CFO in 2019 and became CEO in 2020, stating that stepping aside was timely with the transaction complete.

Meanwhile, Brooks Running announced its thirteenth consecutive quarter of revenue growth, with gains in global performance running and U.S. premium performance running footwear in the third quarter. For the nine months through September, Brooks reported a 12% revenue increase, with growth in all regions including 9% in the Americas and Asia-Pacific, and 24% in Europe, the Middle East, and Africa.

Brooks also saw an 11% increase in footwear sales and an 18% increase in apparel, maintaining its number one market position within specialty retail in Q3. The company highlighted its global expansion efforts and commitment to innovation in products and customer experiences as key factors in its continued momentum.

Retail Dive also noted the Federal Trade Commission's focus on retailer pricing strategies, reflecting ongoing regulatory attention in the retail sector.