Vertical Brands Names COO
Vertical Brands, the parent of CB Sports Apparel and Neve Designs, has hired Christopher Pete as COO.
Moncler’s Q3 Sales Climb 12 Percent Currency-Neutral
Moncler S.p.A. reported sales in the third quarter were €638.3 million, up 12 percent currency-neutral compared with the same period of 2021 and 50 percent currency-neutral compared with the same period of 2019.
Kanye West Is Escorted From Skechers Offices
Skechers USA said late Wednesday that Kanye West, also known as Ye, had come to its corporate offices in Los Angeles “unannounced and uninvited” and was subsequently escorted from the building where he had been trying to film.
VF Corp. Trims EPS Outlook On FX And Promotional Headwinds
VF Corp. reported results in its fiscal second quarter ending October 1 that came in line with Wall Street targets but lowered its EPS guidance for the full year due to foreign currency fluctuations as well as heightened inventory levels and promotional activity in the marketplace.
Foot Locker And Gap Pull Yeezy Product From Stores
Foot Locker and Gap announced they were pulling Yeezy products from their stores following Adidas’ move on Tuesday to end its partnership with Ye, the artist formerly known as Kanye West, following a series of antisemitic remarks he made recently across multiple forums.
Delta Apparel Names Senior Director Of DTG2Go
Delta Apparel, Inc. hired Patrick Bowman as senior director of DTG2Go, its digital print business unit.
Garmin Raises 2022 EPS Guidance On Improved Margin Outlook
Garmin Ltd. reported sales declined 4 percent in the third quarter ending September 24, dragged down by an 18 percent slide in the fitness segment. Second-quarter earnings topped Wall Street estimates and Garmin lifted its full-year EPS outlook on an improving margin outlook.
Puma Sees 17 Percent Currency-Neutral Growth In Q3
Puma reiterated its outlook for the year despite market volatility while reporting another quarterly record of sales and EBIT performance in the third quarter ending September 30. Sales in the third quarter grew 16.9 percent on a currency-adjusted basis, led by growth of 18.8 percent in the Americas region and 18.5 percent in EMEA.
Reima Names Head of Sales
Reima USA, Inc, the Finnish children’s activewear brand, hired Nicola McLeod as head of sales, effective immediately.
Rossignol Group Hires Director Of Softgood Sales, U.S.
The Rossignol Group hired Meredith Riley as director of sales for its softgoods business unit in the U.S. market.
Gear Re-Store Opens East Coast Repair Facility
Gear re-Store opened an East Coast repair facility in the Philadelphia suburb of Folcroft to better serve the company’s Eastern-based customers and ski resorts.
Adidas Ends Partnership With Kanye West
Adidas said on Tuesday that it is ending its partnership with Ye, formerly known as Kanye West, after the rapper made antisemitic remarks. Adidas said the move would have a short-term negative impact of up to ($246 million (€250 million) on net income in 2022 due to high seasonality in the fourth quarter.
Burlington Stores’ Debt Ratings Affirmed
S&P Global Ratings affirmed its debt ratings on Burlington Stores, Inc. despite the off-price retailer facing declining consumer discretionary spending among its core customer base while its value proposition, relative to traditional retailers, has narrowed amid industry-wide clearance activities.
Former Nike COO Joins Jigx’s Board
Jigx, the mobile application development SaaS based in Seattle, WA, announced that Eric Sprunk, former Nike COO, has been appointed to its Board of Directors. Sprunk is also an investor in the brand.
NPD Group Forecasts Modest Decline In Fourth Quarter Apparel Sales
According to the NPD Group, fourth-quarter apparel sales will decline in the U.S., with average prices rising 2 percent and dollar sales falling one percent.
