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The Weekly Closeout: Roots CEO exits, the FTC zeroes in on price

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The Weekly Closeout: Roots CEO exits, the FTC zeroes in on price

The chief executive stepped down following the outdoor retailer’s go-private deal. Meanwhile, the agency has been focused on how retailers set prices.

It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.

From Brooks’ Q3 results to Aritzia’s five-year plan, here’s our closeout for the week.

Roots has completed its go-private transaction, according to a Monday press release. The retailer entered into an agreement to be acquired by Marquee Brands in August.

As a result, Roots CEO Meghan Roach stepped down from the company as its president and chief executive officer. She will continue on as an adviser to the company. Roach joined Roots as interim CFO in 2019 and became CEO in 2020.

“With the transaction complete, this is the right moment for me to step aside,” Roach said in a statement. “I have every confidence in the team’s ability to carry the brand forward, and I am excited about the future of the company.”

Privately-held running brand Brooks on Thursday said it has achieved its thirteenth consecutive quarter of revenue growth, with global performance running and U.S. premium performance running footwear posting gains in the third quarter.

For the nine-month period through September, the company saw revenue increase 12%, with growth across all regions, including 9% each in the Americas and Asia-Pacific and 24% in Europe, the Middle East and Africa. By category, footwear increased 11%, while apparel grew 18%.


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