Camano Capital Becomes Marjority Shareholder Of Turtle Fur Brand
Turtle Fur, the outdoor brand headquartered in Morrisville, VT, announced that Seattle and Minneapolis-based investment firm, Camano Capital, has become the majority shareholder in the company.
Kohl’s, Franchise Group Enter Exclusive Negotiations Over Sale
Kohl’s Corp. reported that it’s in exclusive talks with the Franchise Group over a possible $8 billion takeover.
Compass Diversified To Acquire PrimaLoft
Compass Diversified (CODI) has entered into a definitive agreement to acquire the equity of PrimaLoft Technologies Holdings, Inc., the parent company of PrimaLoft Inc., for an enterprise value of $530 million.
RYU Appoints New CFO
RYU Apparel has hired Robert Lelovic as chief financial officer.
REI To Open Third Location In South Carolina
REI Co-op will open a new store in Mount Pleasant, SC in fall 2022.
Moody’s Lowers Wolverine’s Debt Outlook
Following a similar move by S&P Global Ratings, Moody’s Investors Service changed Wolverine World Wide, Inc.’s outlook to negative from stable.
Two Bidders Seek Discount Price To Acquire Kohl’s
Private equity chain Sycamore Partners and retail conglomerate Franchise Group have submitted bids to acquire Kohl’s, sources told the Wall Street Journal. Both offers were well below amounts the company turned down earlier this year.
Amazon Consumer CEO Resigns
Amazon’s consumer CEO, Dave Clark, will leave the company next month, the e-commerce giant announced in a blog post Friday and reflected in a regulatory filing.
Rally House Adds Stores in Philadelphia, Louisville And Kansas City
Rally House opened new stores in Philadelphia, Louisville and Kansas City markets.
Outdoor Gear Builders Appoints Executive Director
Outdoor Gear Builders announced the appointment of Matt Godfrey as the organization’s executive director. OGB, based in Ashville, NC, has grown to over 75 members (retailers and vendors) in the outdoor industry in Western North Carolina.
L.L. Bean To Open Store In Hudson, MA
L.L. Bean plans to open a store in Hudson, which will represent its ninth store in Massachusetts.
Lululemon Hikes Outlook As Q1 Tops Guidance
Lululemon Athletica Inc. raised its earnings and sales guidance for the year after reporting first-quarter results that surpassed its expectations. Sales were up 32 percent in the first quarter with same-store sales ahead 24 percent.
Tilly’s Sees 13 Percent Q1 Comp Drop
Tilly’s Inc. reported a sharp decline in profits in the first quarter as gross margins eroded 350 basis points and same-store sales were down 13 percent. Results were in line with guidance.
Zumiez’s Sales Slump 21 Percent In First Quarter
Zumiez, Inc. reported sales fell 21 percent in the first quarter ended April 30 against tough year-ago comparisons but arrived at the high end of guidance. Earnings came in below guidance due to labor, shipping and logistics costs as well as a shift in the timing of marketing and training investments.
NRF Says Economy ‘Being Rebalanced’ But ‘Extreme Cooling Off’ Seems Unlikely
The Federal Reserve faces “a tricky job” in addressing inflation but continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy, National Retail Federation Chief Economist Jack Kleinhenz said.
