Lands’ End, Inc. Sees Q2 Loss Widen Despite Expanding Gross Margins
The company reported second-quarter net revenue decreased 7.9 percent to $323.3 million in the three-month period ended July 28, compared to $351.2 million in the second quarter of fiscal 2022.
The Buckle’s Comps Slide 5 Percent in August
The Buckle, Inc. announced today that comparable store net sales, for stores open at least one year, for the 4-week period ended August 26, 2023 decreased 5.0 percent from the year-ago period.
Duluth Trading Trims Outlook on Q2 Shortfall
Duluth Holdings, Inc., the parent of Duluth Trading, lowered its earnings guidance for the year after reporting a worse-than-expected loss in the second quarter. Sales were down 1.7 percent, impacted by weak store traffic. Duluth also noted that its CFO had stepped down to explore another opportunity.
Fanatics Lands at Academy Sports + Outdoors
Academy Sports + Outdoors announced it entered into a partnership agreement with Fanatics to enhance the retailer’s in-store and online assortment of officially licensed sports merchandise beginning this fall.
Avenatti Loses Conviction Appeal in Nike Extortion Case
The US Court of Appeals for the Second Circuit rejected Michael Avenatti’s claim that no sufficient evidence supported his February 2020 conviction on charges of extortion and honest services fraud for threatening to smear Nike if the company did not pay him millions.
PVH Posts Solid Q2 Results on Strong China Sales Growth, U.S. DTC Gains
The parent of the Tommy Hilfiger and Calvin Klein brands reported that second-quarter revenue increased 4 percent year-over-year to $2.21 billion, and grew 2 percent on a constant-currency basis.
Midwest Mountaineering to Close After 53-Year Run
The Minneapolis store reported losing money every month in 2023 through July and with declining sales for the last seven years except when outdoor gear sales saw a brief surge at the height of the pandemic.
Z Supply Appoints First Chief Communications Officer
The women’s lifestyle apparel and accessories brand hired Erika Klein as chief communications officer, moving from her role as its chief marketing officer, a position she has held for the past six years.
Sycamore Partners Rolls Up Top Women’s Brands into New Holding Company
The private equity company specializing in consumer, distribution and retail-related investments, formed the KnitWell Group, a holding company comprised o apparel brands, including Ann Taylor, Loft and Talbots.
L.L.Bean Adds Academy Sports + Outdoors as Wholesale Key Account
Academy Sports will carry a wide assortment of L.L.Bean’s products, including polos, backpacks, men’s and women’s apparel, and the iconic Bean Boots.
Pure Vida’s Sales Decline 3.6 Percent in Second Quarter
Vera Bradley, Inc. reported sales of Pure Vida declined 3.6 percent year-over-year in the second quarter ended July 30 to $25.1 million, primarily related to a decline in wholesale revenues.
EXEC: Mainland Headwear H1 Revenues, Profits Fall Double-Digits
The manufacturer and seller of headwear and accessories products said in its H1 report that manufacturers and traders faced the “challenges of built-up inventories waiting to be consumed, weakened new demand and stagnant production and sales.”
Report: Resale Market To Reach $276 Billion in Five Years
OfferUp’s 2023 Recommerce Report found that 85 percent of shoppers buy and/or sell secondhand goods, an increase of 3 percent from 2022. Furthermore, 27 percent of shoppers ventured into the secondhand market for the first time in the last year.
August U.S. Consumer Confidence Index Decline is Highest in Two Years
U.S. consumer confidence fell the most in two years as pessimism on the labor market, higher borrowing costs and stubborn inflation curbed optimism. The Conference Board continues to expect a recession before the year’s end.
Report: Golf Apparel Has First Monthly Sales Decline in 18 Months at Specialty
Golf Datatech reported that July 2023 retail sales for golf apparel at on- and off-course specialty shops in the U.S. posted their first decline in 18 months, decreasing 3.6 percent versus the year-ago July period.
