Vuori Announces International Launch
Southern California-inspired activewear brand Vuori launched in the UK, France, Germany, Ireland, Netherlands, Australia, and Canada, marking the company’s global rollout announced late last year.
Hibbett Promotes Supply Chain And Merchandising Veterans
Hibbett, Inc. has promoted Mike McAbee and Stephani Smith to SVP, supply chain and store development and SVP, merchandising, respectively.
Macy’s Appoints Two Board Members
Macy’s Inc. announced the appointment of Marie Chandoha, former president and chief executive officer of Charles Schwab Investment Management, and Jill Granoff, managing partner of Eurazeo and chief executive officer of Eurazeo’s Brands division, to its board of directors.
Cocona Labs Names Chief Product Officer
Cocona Labs has hired Wes Burgess as its Chief Product Officer. Burgess steps into the role after working with Cocona Labs for nearly ten years and, most recently, as vice president, sales, engineering and business development.
Sportsman’s Warehouse’s Q4 Revenues Decline 5 Percent
Profits at Sportsman’s Warehouse Holdings Inc. declined 34.3 percent on an adjusted basis in the fourth quarter ended January 29 as sales declined 5 percent.
Lululemon Q4 EPS Beats Guidance
Lululemon Athletica, Inc. reported earnings on an adjusted basis rose 30 percent in the fourth quarter ended January 30 as comparable sales increased 22 percent. Earnings came in above updated guidance provided on January 10.
TJX Boosts Dividend By 13 Percent
The TJX Companies Inc. announced that its Board of Directors has raised the amount of its quarterly dividend by 13 percent from the last dividend paid.
New Balance Officially Opens Methuen Factory
New Balance, on Monday, officially opened its new athletic footwear factory in Methuen, MA. The 80,000-square-foot facility, which underwent a $20 million renovation, began production in January 2022.
Boardriders’ Debt Ratings Downgraded
Moody’s Investors Service downgraded Boardriders, Inc.’s debt ratings due to continued cash outflows in part driven by investments to support its business transformation, weak credit metrics and near-term debt maturities.
Gildan Inks Green Credit Agreement
Gildan Activewear has amended and restated its $1 billion, 5-year revolving credit facility to incorporate sustainability-linked terms that adjust the borrowing costs based on the company’s performance on ESG goals.
Academy Sports’ Q4 Comps Expand 13 Percent
Academy Sports + Outdoors reported comparable stores jumped 13.1 percent in the fourth quarter and 18.9 percent in the year ended January 29. Adjusted earnings in the quarter grew 40.9 percent, exceeding Wall Street targets. Academy predicted sales in the current year would decline 1.6 percent at the mid-point of its range but be up 38.0 percent versus the pre-pandemic 2019 period.
Solo Brands Sees Sales Surge In Fourth Quarter
Solo Brands, Inc. reported sale surged 164 percent in the fourth quater and 202.6 percent in the year.
NPD Tracker: Retail Continues To See Spending On Activities Rises
U.S. consumers have started to spend on in-person experiences again, but the pull-back on general merchandise retail spending that is expected to coincide with it has not yet materialized. Experiential spending reached 91 percent of 2019 levels, as of the end of 2021, but general merchandise retail spending remained elevated at 19 percent above pre-pandemic levels, according to The NPD Group.
Fanatics Partners With WWE
The WWE signed a long-term merchandising deal with Fanatics. The deal includes official WWE NFTs, offered through Fanatics’ Candy Digital division, trading cards, which will operate through Topps, which Fanatics acquired from former Disney CEO Michael Eisner earlier in 2022. It also includes physical and digital licensed merchandise, with Fanatics launching a WWE shop this summer.
Delta Apparel Launches ‘On-Demand’ Digital First Solution
Delta Apparel, Inc. announced the expansion of its digital print business using newly installed digital print technology in collaboration with Fanatics.
