Macy’s,Inc. reported earnings declined in the first quarter but easily topped Wall Street’s consensus estimates. Same-store sales inched up 0.6 percent. The department store giant confirmed its guidance for the year.
Author: SGB Media
Yue Yuen’s Q1 Profits Dip
Yue Yuen reported revenues grew 8.4 percent in the first quarter but earnings slumped 20.9 percent.
Adidas Board Re-Elects Igor Landau As Chairman
Adidas re-elected Igor Landau as chairman of the Supervisory Board. In a statement, Adidas said Landau was re-elected “to accompany the current five-year strategic business plan, ‘Creating the New’, through to completion in the 2020 financial year and to ensure a smooth hand-over to a new Supervisory Board chairman.”
JD Sports Fashion Hires Ex-North Face Exec As Non-Executive
JD Sports Fashion PLC appointed former North Face executive Kath Smith as non-executive director with immediate effect.
Asensei Names Tara Moeller To Board Of Directors
Asensei Inc., which specializes in digital sports coaching and smart apparel, announced the addition of former CamelBak and Specialized executive Tara Moeller to the board of directors.
Mizuno’s America Region Posts First Annual Profit In Four Years
Aided by a focus on high-margin sales and cost controls, Mizuno Corp’s America region returned to profitability for the first time in four years.
AAFA Deems New Tariffs Catastrophic For The U.S. Economy
The American Apparel & Footwear Association said it is severely disappointed by the Trump administration’s decision to propose further tariffs on approximately $300 billion worth of U.S. imports, including clothing, shoes, and other textiles from China.
FDRA Protests Fourth Tariff List
In a statement, FDRA President and CEO Matt Priest wrote that the latest proposed list of Chinese imports subject to higher tariffs will be “paid by every American, every time they buy shoes.”
NRF Opposes Latest Tariff List
The National Retail Federation criticized the move by the Trump administration to release a new list of $300 billion of Chinese goods that will be targeted by additional tariffs of 25 percent.
Nike Responds To Backlash Over Maternity Leave Policy
Nike admitted that in the past its female sponsored athletes have had their pay cut back for ‘performance-based payment reductions’ related to pregnancy but it changed the policy in 2018.
PVH Sets New Supply Chain Transparency Targets
PVH Corp. announced the evolution of its Corporate Responsibility (CR) strategy – Forward Fashion – a vision for the future that sets a new level of ambition and transparency; and reinforces its long-standing commitment to sustainable business.
REI To Expand E-Bikes, Donates To PeopleForBikes
REI Co-op announced plans to more than double its e-bike offerings in 2019 and a $110,000 grant to PeopleForBikes to support cycling advocacy and infrastructure programs.
SFIA: Unprecedented Tariffs Threaten Sports & Fitness Industry
The Sports & Fitness Industry Association issued a statement Tuesday afternoon after President Trump announced a plan to impose up to 25 percent tariffs on an additional $300 billion worth of Chinese-made goods. This action will impact nearly all athletic footwear, apparel, and sports and fitness equipment imported into the U.S. from China.
Descente’s Americas Business Dragged Down By Ski Unit And Inov-8 In Fiscal Year
Descente Ltd. said both sales and income at its Europe and Americas segment fell in its year ended March 31 due to “sluggish” growth in Descente Mountain Americas, its North American Skiwear Subsidiary, and the Inov-8 footwear brand.
Cost-Cutting Steadies Iconix In Q1 But Issues Remain
Shares of Iconix Brand Group Inc. fell 18 cents, or 13.2 percent, to $1.18 at market close Tuesday after the company earlier in the day reported a steep drop in first-quarter revenue but also an operating profit thanks to some well-orchestrated cost-cutting measures.
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