LVMH named Frederic Arnault, son of the founder of the luxury-goods maker, as the new chief executive officer of Tag Heuer, its largest watch brand.
Author: SGB Media
Sportsman’s Warehouse Delivers Blowout Quarter Amid Pandemic
Faced with surging demand for firearms and ammunition, Sportsman’s Warehouses reported sales in the first quarter ended May 2 grew 41.8 percent, to $246.8 million. The gains would have been even stronger if not for out-of-stocks across firearms, ammunition and fishing.
Duluth Trading Gains Boost From Digital, Women’s And New Customers
Duluth Trading managed to show only a 3.8 percent decline in first-quarter revenues, to $109.9 million. Accelerated growth in digital and women’s business helped mitigate the closing of all its stores for seven weeks in the quarter in response to COVID-19.
Caleres Sees Strength At Famous Footwear And Ecomm As COVID Crisis Abates
Caleres, Inc. used a now-familiar retail playbook on their road to recovery after the worst of the Covid-19 health crisis passed. The business was on track for a 13 percent increase in comp-store sales at Famous Footwear in the first quarter and was showing positive signs in its wholesale business before the health crisis intensified and forced the closure of all stores.
Athleta’s Q1 Sales Slide 8 Percent
Gap Inc. reported sales at Athleta were down 8 percent in the first quarter. Store sales were down 50 percent with online sales up 49 percent.
Grassroots Outdoor Alliance Launches Connect Hub For Spring ’21 Buying Season
In this season of business collaboration, Grassroots Outdoor Alliance has launched Connect Hub to bring vendor brands and specialty retailers together for the Spring ’21 buying cycle.
Vail Resorts Q3 Revenues Slide 28 Percent
Vail Resorts Inc. reported results for the third quarter of fiscal 2020 ended April 30, which were significantly impacted by COVID-19 and the resulting closure of the company’s North American destination mountain resorts and regional ski areas on March 15, 2020.
Gearlab Adds Canadian Sales Rep
Gearlab Outdoors has added new sales representation in Canada, expanding their global footprint in the paddle and watersports markets. Stepping into the Canadian sales role is Michael Gilbert who is the founder of B.C. Kayak Centre and life-long kayaking instructor and enthusiast.
NBA Approves Format To Restart Season With 22 Teams
The NBA Board of Governors approved a competitive format to restart the 2019/20 season with 22 teams returning to play and a tentative start date of July 31. The Board’s approval is the first formal step among many required to resume the season.
Wigwam Mills Reopens Factory With New Generation At The Helm
Wigwam Mills Inc. has reopened its factory as Wisconsin’s stay-at-home restrictions have been eased by Wisconsin Governor Tony Evers. In addition, the Wigwam Board of Directors announced that leadership of the 115-year old brand has shifted to the fourth-generation siblings Chris Chesebro and Margaret Newhard.
Caleres Sees 90 Percent Of Famous Footwear Stores Open By Late June
Caleres Inc., parent company to Famous Footwear, Sam Edelman, Allen Edmunds, Naturalizer, and other footwear brands, reported Thursday that following a strong start to the year, first-quarter 2020 results were significantly impacted by COVID-19 and subsequent closures of the company’s retail stores along with the closure of its wholesale partners’ store operations. Despite this, actions […]
Nike’s “Don’t Do It” Ad Earns Wide Praise But Some Pushback
Nike’s new “Don’t Do It” ad has drawn solid support from viewers although it if falls short of the marketer’s 2018 Colin Kaepernick ads on a couple key measures, according to findings from Ace Metrix, which tracks advertising effectiveness.
Zumiez’s Q1 Sales Drop 35 Percent
Zumiez Inc. reported sales tumbled 35.3 percent in the first quarter ended May 2 and slid 8.6 percent in May. The action sports retailer closed the quarter with 9 percent of its stores opening and ended the month of May with 69 percent open.
Sportsman’s Warehouse Q1 Revenues Soar 41.8 Percent
Sportsman’s Warehouse Holdings Inc.’s revenues jumped 41.8 percent in the first quarter due to surging demand for firearms and ammunition. Said Jon Barker, CEO, in a statement, “We introduced many new customers to the Sportsman’s Warehouse brand during the first quarter and we believe this bodes well for our long-term growth.”
Canada’s Sail Outdoors Files For Bankruptcy Protection
Sail Outdoors Inc., which operates 18 outdoor stores in Canada under the Sail and Sportium banners, has filed for bankruptcy protection in response to challenges posed by COVID-19 with a plan to restructure finances.
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