Under Armour To Open Regional Headquarters In Hong Kong
Under Armour will open a regional headquarters in Hong Kong this year to jumpstart growth in Asia, according to a report in the South China Morning Post.
Lululemon To Sponsor Toronto 10K And Edmonton 10K
For the third year in a row, Canada Running Series is partnering with Lululemon for the Lululemon Toronto 10K, to be held on Saturday, June 15, 2019.
Yue Yuen’s Earnings Sink In 2018
Yue Yuen Industrial (Holdings) Ltd. reported earnings declined 40.3 percent in the year ended December 31 to $307.1 million. Revenues were down 6.3 percent to $9.7 billion.
Li Ning’s Profits Improve In 2018
Li Ning reported earnings in 2018 rose 39 percent on an 18 percent revenue gain.
MEC To Open Relocated Flagship In Toronto
MEC, Canada’s leading outdoor retailer, confirmed its relocated Toronto flagship store will open April 13, 2019.
Amazon Reports Roundup
A number of retail studies arrived over the last few weeks on retail’s disruptor, Amazon, including the e-commerce giant’s break-through in apparel, expanding dominance in product search, private-label shortfalls, trust credibility, digital advertising pushes and more.
Nike Sees No Slowdown In Momentum
Shares of Nike Inc. closed down nearly 7 percent on Friday after the company reported North America sales in the third quarter and fourth-quarter guidance that both missed Wall Street’s targets. But sales in the third quarter still more than doubled the growth rates of its closest rivals, Adidas and Under Armour, as Nike officials insisted its Consumer Direct Offense initiative is only getting started.
Champion Opens Store In Philadelphia
Champion Athleticwear opened its first store in Philadelphia and its fifth U.S. specialty retail store with other locations in Los Angeles, New York, Boston and Chicago.
Hibbett Sports’ Q4 Blows Past Estimates
Hibbett Sports, Inc. reported fourth-quarter earnings rose slightly but came in well above Wall Street’s targets. The retailer also announced plans to close 95 stores this year as part of an “accelerated store closure plan” and a transition plan with the pending retirement of CEO Jeff Rosenthal.
Hibbett Announces CEO Transition Plan
Hibbett Sports Inc. announced the planned retirement of Jeff Rosenthal, president and chief executive officer. The Board will commence a search process to identify the company’s next CEO, and Rosenthal will remain at the company in his CEO capacity until a successor is named.
Nike’s Q3 Earnings Top Estimates On Digital Momentum
Nike Inc. reported quarterly earnings that slightly topped analysts’ expectations and sales that were in-line. The 7-percent revenue growth was driven by broad-based strength across all geographies as well as Nike Direct, led by digital. By region, the gains were led by Greater China, up 23 percent; followed by EMEA, 9 percent; and North America, 7 percent.
G-III Apparel’s Q4 Boosted By Double-Digit Wholesale Growth
G-III Apparel Group Ltd. reported fourth-quarter earnings that came in well ahead of Wall Street’s consensus target due to stringent cost controls and double-digit growth across wholesale operations. G-III officials revealed that its recently-acquired DKNY label had introduced its first women’s apparel collection tied the major sports leagues.
Nike To Outfit Denison University
Denison University, based in Granville, OH, has entered into a multi-year partnership with Nike through BSN Sports.
G-III Apparel’s Q4 Tops Estimates
G-III Apparel Ltd. reported fourth-quarter earnings per share on an adjusted basis vaulted 112 percent as revenues expanded 7.3 percent. Results easily topped Wall Street’s consensus targets.
Delta Apparel Eyes Fast Growth At DTG2Go
Speaking at the 31st Annual ROTH Conference, officials at Delta Apparel Inc. said DTG2Go, its digital print and fulfillment business, is poised to expand at a 20 percent CAGR (compound annual growth rate) in the years ahead with digital screen-printing just starting to take off.
