Macy’s Inc. reduced its annual profit forecast for the second time this year after reporting its first drop in same-store sales in two years. CEO Jeff Gennette said in a statement.“The sales deceleration was steeper than we expected.”
Author: SGB Media
Lululemon Opens ‘Experiential’ Shop At Mall of America
Lululemon has opened a 19,700-square-foot “experiential” store at Mall of America. Modeled after its store in Chicago’s Lincoln Park neighborhood, the location includes studios for yoga and HIIT activities, a Fuel Bar and a gear trial program.
Planet Fitness Prices $550 Million Securitized Financing
Planet Fitness Inc. on Wednesday announced that it has priced $550 million of Series 2019-1 Class A-2 Fixed Rate Senior Secured Notes (the “Class A-2 Notes”), with an anticipated repayment term of 10 years and a fixed interest rate of 3.858 percent per annum, payable quarterly.
Nike Invests In Handsfree Labs Inc.
Nike Inc. on Wednesday announced a strategic investment in and exclusive intellectual property licensing partnership with Handsfree Labs Inc., a pioneer in hands-free footwear technology. Terms of the investment were not disclosed.
Tariff Toll Continues To Mount
On a media call Tuesday arranged by the Outdoor Industry Association (OIA), executives at Keen, Krimson Klover and Vista Outdoors as well as trade experts discussed the impacts of new tariffs on List 4 products as well as the ongoing tariffs on List 1-3. Beyond any direct costs, the panel lamented how the ongoing uncertainty is wrecking havoc with business planning. Some surprising repercussions are also occurring.
REI Co-Op To Open Store In Billings, MT
REI Co-op will open a new store in Billings, MT, in spring 2020. The new 22,000-square-foot space will be located at Shiloh Crossing and offer a specialty bike shop for maintenance and repairs.
Cheerleading, Gymnastics Apparel Maker To Close
Motionwear LLC, an Indianapolis, IN-based maker of cheerleading uniforms and gymnastics and dance apparel, notified the state that it will shutter its Indianapolis operations and lay off 146 employees, according to a report by Inside INdiana Business.
Garry Enyart Re-Elected RV Industry Association Chairman Of The Board
The RV Industry Association board of directors this week announced it had re-elected Garry Enyart as Chairman of the Board for the year 2020 during the group’s meeting on November 12 in Las Vegas, NV.
RYU Increases E-Commerce Footprint
RYU Apparel Inc. on Wednesday announced its brand is now available on Zappos.com, the customer service company that sells shoes, clothing and more.
Target Lifts Outlook On Online Momentum
Target Corp. raised its earnings guidance for the year after reporting EPS from continuing operations reached $1.37 in the third quarter 2019, up 18.2 percent from $1.16 in third quarter 2018. Comparable sales growth was 4.5 percent and the discounter saw a 3.1 percent increase in comparable traffic. Comparable digital sales grew 31 percent, contributing 1.7 percentage points to total comparable sales growth.
Urban Outfitters Q3 Profits Fall
Urban Outfitters Inc. reported earnings slumped 28.2 percent in the third quarter to $55.7 million, or 56 cents, missing Wall Street’s consensus estimate by a penny.
GameWorks Partners To Fuel Adoption Of Esports Across U.S. High Schools
GameWorks, Inc., an esports and entertainment company with seven locations nationwide, forged a partnership with the High School Esports League (HSEL) — a varsity esports organization with over 60,000 participating students across more than 2,100 schools — to help fuel the adoption of esports throughout high schools nationwide.
Adidas Launches Retail AR Experience With Eyecandylab
Eyecandylab , which specializes in creating interactive video-triggered augmented reality experiences, has developed a concept with Adidas that brings storytelling and immersive experience within a physical store to a new level. The project raises awareness of Adidas’ sustainably manufactured products made from recycled ocean plastic.
RECALL: ISO7X Isometric Exercise Devices
About 1,500 ISO7X Isometric Exercise Devices sold at Burlington Stores are being recalled. According to a statement from the CPSC, the handle grips on each end can break during use and cause parts to be forcefully ejected from the shaft.
Electric Lands Volcom License For Eyewear And Goggles
Authentic Brands Group (ABG) and Electric Visual Evolution, LLC, a distributor of quality eyewear and snow goggles, announced a global partnership for Volcom. Through the agreement, Electric will design, develop, produce and distribute eyewear and snow goggles for the lifestyle brand.
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