Golf Rounds Played Decline 13 Percent In April
Golf Datatech’s National Rounds Played Report for April shows that U.S. rounds were down 12.9 percent in the month and off 9.8 percent year-to-date year-over-year.
Omorpho Closes $6 Million Investment
Omorpho, the micro-weighted Gravity Sportswear collection, closed a $6 million seed funding round at a $26 million valuation. The investment was led by KB Partners with participation from Greenchain Capital and Madison Square Garden Sports Corp. (MSG Sports).
Dick’s SG Lowers FY Guidance Despite Q1 Beat
Dick’s Sporting Goods reported earnings and sales in the first quarter topped Wall Street expectations but reduced its guidance for the year due to “macroeconomic” challenges.
Urban Outfitters Q1 Sales Climb 13 Percent
Urban Outfitters, Inc. announced a net income of $32 million, or 33 cents a share, in the first quarter ended April 30, 2022, down 40.2 percent from $53.5 million, or 54 cents, a year ago. Sales increased 13.4 percent over the same period last year to a record $1.05 billion.
Nordstrom Delivers 19 Percent Growth In First Quarter
Nordstrom reported sales in the first quarter grew 18.7 percent with sales ahead 23.5 percent for the Nordstrom banner and 10.3 percent for Nordstrom Rack. Core categories including men’s and women’s apparel, shoes and designer had the strongest growth as consumers updated wardrobes for the return of social events, travel and return to office.
Sportsman’s Warehouse To Open Store In Wyoming
Sportsman’s Warehouse Holdings, Inc. is scheduled to open a store in Riverton, WY this month.
Grassroots Outdoor Alliance Appoints President
Grassroots Outdoor Alliance has hired Gabe Maier as president. Maier has worked with the GOA for six years, including two years as a business analyst and four years as vice president). Most recently, he was the director of business development for BrandKeep.
Moody’s Outlook For U.S. Retail And Apparel Industry Cut To Negative
Moody’s Investors Service has lowered its outlook from stable to negative for the US retail and apparel industry. The rating agency said inflation, geopolitical risks, supply chain challenges and falling demand point to broad profit declines, and operating margins will erode across every subsector.
Stitch Fix Appoints Chief Marketing Officer
Stitch Fix, Inc. announced Debbie Rose Woloshin is joining the company as chief marketing officer. Woloshin was previously the chief marketing officer at Marc Jacobs.
Cotopaxi Appoints President
Cotopaxi announced it appointed Damien Huang as president of the company reporting to CEO and Founder Davis Smith. Huang was, most recently, CEO of Eddie Bauer.
Puma Opens Virtual Place On Roblox
Puma launched a sports-based experience on Roblox, the online gaming platform where participants compete in mini-games and training activities.
Belk’s President Named Interim Chief Executive Officer
Belk announced that president Don Hendricks had been appointed interim chief executive officer. Hendricks replaces Nir Patel, who left the company to join GameStop as chief operating officer.
Woolrich Sees 22 Percent Growth In 2021
Woolrich, acquired by Luxembourg private equity fund L-Gam in 2018, saw sales rise 22 percent sales in 2021, due mainly to investments in expanding direct-to-consumer sales, according to a report from WWD.
Rally House Opens Additional Store In Indianapolis
Rally House opened a new store in Plainfield, IN, joining several locations in the Indianapolis area.
Foot Locker Beats Earnings Targets In First Quarter
Foot Locker reported first-quarter results declined against challenging year-ago comparisons but earnings topped Wall Street estimates. Foot Locker now expects earnings and sales for the year to arrive at the upper end of revenue and earnings guidance.
