Polartec Announces 2018 Apex Design Award Winners
Polartec announced the winners of its 2018 Polartec Apex Awards, an annual design award program celebrating the finest products made from Polartec fabrics.
Strong Back-To-School Period Drives Zumiez Comps In Q3
Zumiez Inc. on Thursday reported total net sales for the third quarter ended November 3 (13 weeks) increased 1.2 percent to $248.8 million from $245.8 million in the quarter ended October 28, 2017 (13 weeks). Comparable sales for the 13 weeks ended November 3 increased 4.8 percent compared to a comparable sales increase of 7.9 percent for the 13 weeks ended October 28, 2017.
Lululemon Athletica Shares Dip Despite Q3 Beat
Shares of Lululemon Athletica Inc. fell around 5 percent in after-hours trading Thursday after the company reported adjusted diluted earnings per share for the third quarter of 75 cents, up from 56 cents for the third quarter of fiscal 2017 and ahead of Wall Street targets by 6 cents. A weak outlook for the fourth quarter took a toll on the company’s stock, which had closed the day down $2.18, or 1.6 percent.
Genesco Sees U.S. Footwear Business Offset Lids’ Struggles
Boosted by a 9 percent comp gain at Journeys, Genesco Inc. reported its highest quarterly comparable sales increase in more than 2.5 years. Adjusted earnings easily topped Wall Street’s targets. Lids continues to face weak headwear trends and the sales exploration of the business is taking longer than anticipated.
5.11 Opens Store In Indianapolis
Tactical apparel and gear brand 5.11 has opened a brick-and-mortar retail store in Indianapolis, IN, providing another building block to 5.11’s 2018 retail expansion goal of 50 company-owned retail stores.
Run Specialty Re-Finds Its Stride
With a spurt of innovation, a healthy shake-out of stores, and a number of nimble adjustments to the changing retail landscape, run specialty is back in growth mode, according to participants at last week’s The Running Event in Austin.
G-III Apparel Lifts Outlook On Improved Q3
G-III Apparel Group, Ltd. reported earnings rose 15.6 percent in the third quarter on a 4.7 percent revenue gain.
Duluth Trading’s Q3 Sales Expanded 27 Percent
Duluth Holdings Inc., the parent of Duluth Trading, reported a wider loss in the third quarter but they were in line with expectations. Sales grew 27.4 percent.
Shopko Closing 39 Stores
Shopko confirmed that plans to close 39 of its 363 stores by the end of February. Bloomberg reported that the Wisconsin-based retailer was making preparations for a bankruptcy filing.
Genesco Tops Wall Street Targets On Accelerating Comps
Genesco Inc. reported third-quarter earnings topped Wall Street’s consensus target as comps increased to their highest level in more than two years driven by the ongoing strength at Journeys and Johnston & Murphy. While still negative, sales trends at both Lids and Schuh continued to improve. The company narrowed its guidance for the year.
Buckle’s Comps Dip In November
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended December 1, 2018 decreased 0.6 percent
VF Corp. Announces Name For Jeanswear Spinoff
VF Corporation announced that Kontoor Brands, Inc. will be the name of the independent, publicly traded company that will result from its previously announced separation of VF’s Jeanswear organization.
Behind The Deal: How Callaway Aced The Jack Wolfskin Acquisition
Anyone who looks beyond the surface of Callaway Golf Co.’s agreement to acquire Jack Wolfskin for $476 million will see that reducing it to the simplistic “golf company buys outdoor brand” doesn’t capture the depth of the deal. The acquisition makes sense on multiple levels for both companies amid the blurring of channels, product lines and even consumer habits.
VF Corp To Open London Office
VF Corporation will open a new office in the heart of London’s Soho next Spring to help fuel growth in the U.K. market.
Moody’s Assigns Debt Ratings To Callaway Golf’s Term Loan
Moody’s assigned a Ba3 rating to a proposed $480 million senior secured term loan will be used to fund the acquisition of Jack Wolfskin.
