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B.C. Credit Counselling Society sees surge in younger clients seeking debt relief
A credit counselling service says more and more younger people are looking for financial advice to get out of debt. As CBC's Tanushi Bhatnagar reports, young Vancouverites are less than optimistic about their financial future.
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Shuffle Board: Luxury Retail's Money Moves, Marni Nabs Creative Director
Retail Aritzia Canadian 'everyday luxury' retailer Aritzia has named Karrie Helm as retail director, per a LinkedIn post penned by Helm. She previously spent nearly 15 years at the Minnesota retail chain, Evereve, most recently serving as senior director of stores. L.L. Bean Outdoor retailer L.L. Bean announced that chief executive officer Stephen Smith is exiting, effective spring 2026. Smith took the helm in 2016 as the company's first-ever external CEO. Over the past decade, he championed a culture of collaboration and cross-functional alignment that strengthened the organization. Smith will remain 'fully engaged' in leading L.L. Bean before transitioning responsibilities to his successor. That spans focusing on continued growth, preparing for the upcoming peak season, and advancing the work outlined in the company's long-range 'Vision 2030' strategic plan. The board of directors, led by chairman Shawn Gorman, has initiated a search for Smith's successor, with an extended transition period in place to support a smooth handoff. More from Sourcing Journal Shuffle Board: Funko Replaces CEO, Madewell Exec Joins Parker Thatch Shuffleboard: Lego Legend Nominated to Nike Board American Giants Levi's and Nike Join Forces Mango Barcelona-based global fashion chain Mango has appointed Helena Helmersson as a new independent member of its board of directors. The former H&M Group CEO brings over 20 years of experience to the board, specifically the strategic perspective from her international know-how across 75 markets. With Helmersson's appointment, the board comprises Toni Ruiz (chairman and CEO), Jonathan Andic (vice chairman), Daniel López, and Margarita Salvans as executive directors; and six independent directors, including Helmersson. Nordstrom Luxury department store chain Nordstrom has named Kelly Dilts as chief financial officer, effective Aug. 29. In this role, Dilts will oversee all core financial functions as well as real estate, store development and strategic sourcing. She joins from Dollar General, where she has served as executive vice president and CFO since 2023. Before that, Dilts served as EVP and CFO for Francesca's (2016 to 2019) and as senior vice president of finance and investor relations for Tailored Brands. OTB Marni's parent company and luxury holding corporation Only the Brave (OTB) Group, has appointed Belgian designer Meryll Rogge as creative director of the Milan-based house. She succeeds Francesco Risso, who left the label in June after almost 10 years at the helm, and joins following the success of her eponymous brand. In 2021, Rogge won the Emerging Talent of the Year award at the Belgian Fashion Awards, which named her Designer of the Year in 2024: the first woman to receive this award. Recently, Rogge received the Grand Prix at the 2025 ANDAM Fashion Awards. Saks Global Nascent luxury retail and real estate conglomerate Saks Global has named Brandy Richardson as chief financial officer, effective Aug. 18. Richardson succeeds interim CFO Mark Weinsten—once interim CFO of Neiman Marcus Group (NMG)—who joined Saks Global to lead the company's financial reorganization after acquiring NMG in December 2024. The two will work together for a smooth transition. Richardson joins from Tailored Brands, where she's served as executive vice president and CFO since 2021. She spent most of her career at NMG, where she held various finance leadership roles of increasing responsibility throughout her 15-year tenure. Richardson will report to CEO Marc Metrick as part of the Saks Global management team. Tailored Brands Omnichannel specialty retailer Tailored Brands announced that chief financial officer Brandy Richardson is leaving to pursue another opportunity, effective July 25. The company launched a search for a successor and, in the interim, the existing finance team will report to John Tighe, president and incoming CEO. Brands Nike Athletic giant Nike's vice president of artificial intelligence, Jason Loveland, is leaving the company to 'take on a new challenge,' per a LinkedIn post. Loveland joined Nike in January 2018 and became VP of AI in August 2021. His seven-plus-year stint included leading Nike's generative AI initiative and 'partnering AI/ML engineering with data science to deploy and scale AI products globally,' per his post. Textiles Oritain Forensic and data science company Oritain has named Paul Bentham as chief product and technology officer (CPTO). In this new role, Bentham will lead global product, engineering and data science teams, focused on identifying innovations within forensic science and developing technology. He brings over 20 years' business experience, including early days delivering advanced technology solutions to the UK government. As chief product officer at Immersive Labs, he helped scale the company's cyber resilience platform that 'drove tenfold revenue growth over four years. Bentham's appointment builds on Oritain's recently expanded executive team, which includes COO Heidi Cullen and CMO Sarah Scott. Logistics ArcBest ArcBest, the parent of direct LTL competitor ABF Freight, announced Judy McReynolds will retire as chief executive officer, effective Dec. 31. Company president Seth Runser will succeed McReynolds as CEO on January 1, 2026. Runser will retain his role as president and also join the board, effective on the same date. McReynolds will continue to serve as chairman of the board. Raw Materials Brrr Atlanta-based company Brrr has named Christopher Heyn as chief executive officer. Heyn has been serving as executive chairman and will now assume the CEO role to lead the company into its next phase of growth. In this role, Heyn will spearhead the company's mission to deliver thermoregulating fabric solutions for all seasons across a range of apparel and lifestyle products. Sign in to access your portfolio
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A Clear Sign Just Emerged That Tesla Is Panicking
Tesla sales are so abysmal in Canada that Elon Musk has made the drastic choice to dramatically lower the price of the new Model Y as it attempts to climb out of the hole. As Electrek reports, a Model Y in Canada now costs $65,ooo CAD ($47,465 USD), which is a cool $20,000 CAD cheaper than it was just a few days prior. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You We'll get into the hows and whys in a second, but first some backstory. Earlier this year, after Trump raised the specter of tariffs against its northern neighbor, Canada moved to impose its own 25 percent counter-tariff on all American cars, as retribution to the second-time president, who's also agitated the Canadian public by claiming he wants to annex the country, straining the historical allyship between the neighbor nations and causing that country's residents to view the US as an "enemy." Caught in the middle of this foolhardy trade and culture war was Tesla, which raised the price of the Model Y in Canada to $84,990 CAD from $64,990. As Electrek notes, that price hike brought the cost of the car up to the equivalent of about $61,500 USD, a figure $20,000 USD higher than the long-range all-wheel drive version in the states. As one might guess, nobody in the Great White North wanted to spend that much on a vehicle that had been cheaper ahead of the tariffs, and that's without getting into Musk's then-bromance with Trump — and thus, Tesla's sales cratered. In late March, Electrek reported that company sales dropped a whopping 87 percent in the province of Quebec, which theretofore had been considered an important market for the electric vehicle-maker. Given all that context, it undoubtedly came as a shock for Canadians to learn that Tesla had slashed the Model Y price so significantly. It appears that the cost drop stems from the company sourcing its Canadian Model Y deliveries from its German Gigafactory — but as Gizmodo flagged, that model is the only one that's seen any price reductions in Canada so far. Looking through Tesla's pricing on its Canadian website, one can now see that the Model 3, conventionally its cheapest vehicle, now runs for just under $71,000 CAD — nearly $6,000 more than the larger Model Y costs under the new pricing scheme. This is likely due to those cars still being shipped from the US, which makes them subject to Canadian counter-tariffs. Reading between the lines, this dramatic new sales gambit suggests that Tesla is not only aware of how bad things are for the company in Canada, but also that it's willing to do something crazy to try to turn the ship around. Given that Musk recently tweeted that "Canada is not a real country," it seems downright preposterous that he's chosen to switch it up this much — but then again, global Tesla sales have declined so significantly thanks to Musk's asinine politics that it's no wonder it wants to recoup. More on Tesla sales: Tesla Is in Serious Trouble in China Sign in to access your portfolio
