Citi Trends Posts Q3 Loss

Citi Trends, which is increasing its emphasis on gift-giving merchandise and away from apparel, reported a loss in the third quarter as comps increased 2.6 percent while increasing its full-year outlook. The retailer also said it plans to annually grow store base by 25 to 30 stores and remodel 50 stores and named Peter Sachse as interim CEO.

Gap Downgraded By S&P

Standard & Poors (S&P) lowered the issuer credit rating to ‘BB’ from ‘BB+’. The downgrade reflects our view that Gap Inc.’s performance struggles will persist as it faces a torrent of competitive headwinds and potential distractions from the planned separation of its core Old Navy brand in mid-2020

Under Armour Upgraded To “Strong Buy” By Raymond James

Raymond James on Wednesday upgraded Under Armour to “Strong Buy” from “Outperform,” describing the firm as “underrated” and an “underdog.” In the note, Matthew McClintock wrote that his team has “become more comfortable with the company’s risk/return profile, particularly regarding execution risk, headline risk, and valuation.”

Silofit Raises C$1M In Seed Funding

Silofit, a Montreal-based network of private, on-demand fitness spaces, raised Canadian $1 million in seed funding. The round was led by Whitecap Venture Partners and Courtside Ventures, with participation from NFL player Ndamukong Suh.

SoulCycle CEO Resigns

Melanie Whelan, SoulCycle’s CEO since 2015, has resigned. Sunder Reddy, SoulCycle’s CFO since 2017, will assume the role of interim CEO while a search for a permanent replacement begins.

NRF: Half Of Holiday Shoppers Have Already Started

More than half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.

Report: Anta Exploring Sale Of Precor

Anta Sports Products Ltd. , which acquired Amer Sports in March 2019, is exploring a sale of Precor, the fitness equipment maker, after receiving interest from buyers, according to a report from Bloomberg.