Canadian Brand Seven Peaks Opening U.S. Office And Distribution Warehouse
Seven Peaks Corporation, based in Laval, Quebec, announced that it is opening an office and distribution center in Harrisburg, PA to support growth in the United States.
Mastercard SpendingPulse: U.S. Retail Sales Grow 8.4 percent in March
According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, total retail sales, excluding auto, increased 8.4 percent year-over-year (YOY) in March and 18.0 percent compared to pre-pandemic spending (2019), not adjusted for inflation.
Shein Raises Over $1 Billion In Funding Round
Shein, the Chinese fast-fashion company, raised between $1 billion and $2 billion in the funding round at a valuation of $100 billion, according to reports.
Beach Bunny Swimwear Opens Four Stores
Beach Bunny Holdings, LLC., the female-founded swimwear brand, announced the opening of four new retail store locations in Tampa, Los Angeles, San Diego, and Houston.
Rally House Expands With Two Stores
Rally House opened its third Kentucky location in Simpsonville and 17th Texas location in Waco.
Gymshark To Restructure As It Preps For U.S. Expansion
Gymshark could lay off as many as 10 percent of its workforce in an overhaul of the online-only retailer according to reports. The Financial Times reported that the sportswear group also plans to create 100 new jobs as it focuses on the lucrative U.S. market.
U.S. Ports Seeing Brief Slowdown From Last Year But Imports Remain High
The nation’s major retail container ports have begun to catch up with the backlog of cargo seen over the past several months but could experience another surge this summer, according to the monthly Global Port Tracker report released by the National Retail Federation.
Fabletics Names Chief Design And Merchandising Officer
El Segundo, CA-based Fabletics, announced that it hired Kelli Dugan as chief design and merchandising officer, responsible for product creation, including merchandising, design and planning. Dugan will also lead the ongoing global expansion of its business into men’s, loungewear and swim.
NFL, MLB And Players Unions Increase Investments In Fanatics
The NFL, NFLPA, NHL, MLB, and MLBPA all increased their stakes in Fanatics as part of a recent $1.5 billion funding round, Fanatics has confirmed.
Progression Brands Group Names VP
Progression Brands Group (PBG) announced that Jeff Burkley had accepted the newly created position of vice president. Burkley will be responsible for developing and leading commercial strategies across the company’s multi-brand portfolio, including Capranea Apparel, DAHU Ski Boots, Movement Skis, YNIQ Eyewear, and Crazy Apparel.
Carhartt Appoints Chief Information Officer
Carhartt announced the promotion of Katrina Agusti as chief information officer.
NPD And IRI To Merge
The NPD Group (NPD) and Information Resources, Inc. (IRI) announced the signing of a definitive agreement to merge the two companies. The transaction is expected to close in the second half of 2022.
Nike To Open Technology Center In Atlanta
Nike plans to open a technology center in Atlanta in a major expansion in the area, according to the Atlanta Business Chronicle.
The Buckle’s Comps Drop 10 Percent In March
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 5-week period ended April 2, 2022, decreased 9.7 percent.
Levi Strauss’ Q1 Revenues Climb 22 Percent
Levi Strauss & Co. reported profits on an adjusted basis grew 34.9 percent in the first quarter ended February 27 as sales ran up 22 percent. Both earnings and sales topped Wall Street targets.
