Revolve Group Sees Q4 Markdown Pressures Cut Into Profits
Revolve Group, Inc. reported a steep decline in profits in the fourth quarter due to markdown pressures. Sales for the fashion e-commerce site were up 9 percent. For the year, net income was down 41 percent, while sales grew 24 percent.
Steve Madden Posts Sharp Drop In Q4 Wholesale Revenues
Steve Madden’s fourth quarter 2022 revenue decreased 18.6 percent to $470.6 million in the period ended December 31, compared to $578.5 million in the prior-year comparable period. Revenue for the wholesale business was $308.8 million, a 24.8 percent decrease.
Adidas Opens First Retail Store In The Bronx
Adidas opened its first retail store in the Bronx today at The Mall at Bay Plaza.
Academy’s Debt Ratings Raised By Moody’s
Moody’s Investors Service upgraded Academy, Ltd.’s debt ratings to reflect Academy’s continued outperformance relative to expectations and the overall retail industry.
Adidas Renews Partnership With Major League Soccer
Adidas renewed a multi-year extension of its partnership with Major League Soccer.
Delta Galil Appoints President Of Branded Division
Delta Galil Industries, Ltd. hired Mark Stocker as president, Delta Galil Branded Division. Stocker will be based in New York, reporting directly to CEO Isaac Dabah.
Dick’s SG To Acquire Moosejaw From Walmart
Dick’s Sporting Goods agreed to acquire outdoor retailer Moosejaw from Walmart.
Janji And Oiselle Brands To Merge
Janji, a Boston-based running apparel brand, and Oiselle, a Seattle-based women’s athletic apparel company, have entered into a collaborative partnership through a merger facilitated by Digsbury Ventures.
TJX Sees Holiday Sales Beat Plan
The TJX Companies Inc. reported earnings rose 14 percent in the fourth quarter ended January 28 on a 4 percent same-store gain. Sales came in ahead of guidance while earnings were at the upper end of plan.
Wolverine Worldwide Forecasts Low-Single-Digit Growth For 2023
Wolverine Worldwide’s fourth-quarter sales grew 8.4 percent as strong double-digit growth at Merrell and Saucony offset a steep decline at Sperry. Overall results were in line with recently-updated guidance. Guidance for the current year calls for margin pressures to continue in the first half of the year to further reduce inventories and low-single-digit growth on a currency-neutral basis for the overall year.
Gildan Activewear Sales Down 8 Percent In Fourth Quarter
Gildan Activewear, Inc. reported net sales declined 8 percent to $720 million for the fourth quarter ended January 1, compared to the prior-year comparable quarter. Activewear sales were down 5 percent to $595 million and sales in the hosiery and underwear category were down 21 percent.
Report: Wilson Golf President Exits
Tim Clarke, president of Wilson Golf since 2007, has stepped down, according to mygolfspy.com. Global R&D director Bob Thurman has reportedly become interim golf general manager.
Foot Locker Names Interim CFO
Foot Locker, in a regulatory filing, stated that Robert Higginbotham had been appointed interim chief financial officer, effective March 1, in addition to his current role as senior vice president, investor relations, and financial planning & analysis.
Sympatex Names Chief Sales And Marketing Officer
Sympatex Technologies, a manufacturer of membranes, laminates and textiles used in outdoor apparel and footwear, promoted Kim Scholze to chief sales and marketing officer and its board.
Nike Asks City Of Portland For Police Security To Reopen Community Store
Nike’s Community Store in Northeast Portland has been closed for weeks because of thefts. The company has offered to contract with, and pay off-duty uniformed Portland Police Bureau officers, in order to reopen the store.
