Zumiez Q2 Falls Short Of Guidance
Zumiez Inc. reported sales were down 18 percent in the second quarter ended July 30 and fell by the same amount in August. Second-quarter results were well below company guidance. Rick Brooks, CEO, said, “We are disappointed that our recent performance fell short of expectations and we are making adjustments to our merchandise assortments and managing expenses in order to improve near-term results.”
Dovetail Workwear Hires National Sales Director
Dovetail Workwear hired Katie Copeland as national sales director.
Qurate Appoints Chief Merchandising Officer, QVC U.S.
Qurate Retail Group hired Stacy Bowe as chief merchandising officer at QVC U.S. Most recently she worked at G-III Apparel Group and before that led the home category for Macy’s.
TrueTimber Names Director Of Licensing
TrueTimber, based in Inman, SC, appointed industry veteran Richard Howard as director of licensing.
Vuori Opens First Store In Connecticut
Vuori has opened a store in Westport, its first Connecticut store.
Todd Krinsky New CEO Reebok
Authentic Brands Group (ABG) has promoted Todd Krinsky as the new CEO of Reebok after acquiring the brand earlier this year. Matt O’Toole, who has led Reebok for the past 15 years, will transition to join ABG as executive chair in January 2023.
Target CEO Brian Cornell To Stay Three More Years
Target said Brian Cornell agreed to remain in his role as CEO for an additional three years. With Cornell’s commitment, Target’s Board of Directors eliminated its retirement policy, designed to initiate a discussion regarding the possible retirement of its CEO at the age of 65.
Rally House Opens Storefront In Cincinnati Area
Rally House opened a new store in Liberty Township, North of Cincinnati, OH.
La Jolla Group Adds Mountain Khakis To Brand Portfolio
La Jolla Group, Inc. announced it added Mountain Khakis to its brand portfolio. The company will provide strategic guidance, back-end oversight and support, including finance, planning, HR, IT, distribution, and logistics.
OBIT: Frank’s Sport Shop’s Moe Stein
Moe Stein, president and the iconic face of Frank’s Sport Shop in Bronx, NY, passed away at the age of 93.
G-III Apparel’s Sales Expand 25 Percent In Second Quarter
G-III Apparel Group, Ltd. reported a strong uptick in earnings in the second quarter ended July 31 as sales grew 25 percent. The apparel maker lowered its guidance for the year due to the macroeconomic climate.
Academy Sports Q2 EPS Exceeds Wall Street Targets
Academy Sports reported earnings in the second quarter came in comfortably ahead of Wall Street expectations. Comps declined 6.0 percent against challenging year-ago comparisons but improved sequentially versus the first quarter. The sporting goods chain reiterated its 2022 full-year net and comparable sales guidance.
Castore Secures New Debt Facility
Castore, the UK sportswear brand, has secured a new £50 million ($63 mm) revolving credit facility (RCF), valuing the company at £750 million ($942 mm).
Newell Brands Lowers Outlook For Q3 And Full Year 2022
Newell Brands, Inc. announced updates to its outlook for Q3 and the full year 2022, reflecting a more challenging than anticipated operating and consumer backdrop.
Stio Hires Vice President Of Sales
Stio hired Alex Brown as vice president of sales to lead the strategy and development of its wholesale and corporate channels.
