Author: SGB Executive

REI’s CFO Discusses The Co-Op’s Pandemic Pivot

REI’s CFO Discusses The Co-Op’s Pandemic Pivot

REI Co-op logged a net loss of $34.5 million in 2020 and sales on a Proforma basis were down 8 percent. However, the retailer was able to exceed its pandemic-adjusted targets and finish the year in a strong financial position, said Kelley Hall, REI SVP and CFO, in an interview with SGB Executive. Sales have also seen a resurgence since the initial pandemic-driven store closures and momentum has continued into 2021. (Read More)

Piper Sandler Survey: Athletic’s Appeal Continues Strong With Teens

Piper Sandler Survey: Athletic’s Appeal Continues Strong With Teens

The athletic apparel and athletic footwear categories again grew mindshare among the Gen-Z generation, led by increased interest from girls, according to Piper Sandler’s 41st Biannual Taking Stock With Teens Spring 2021 Report. Nike and Lululemon were again the big winners in the active lifestyle space. Other brands increasing in popularity among teens were Crocs, Shein and PacSun, while Vans and Adidas lost ground. (Read More)

Wall Street Reacts: Nike’s Q321

Wall Street Reacts: Nike’s Q321

Shares of Nike slid $5.68, or about 2 percent, Friday after it reported third-quarter sales missed Wall Street's target due to port congestion in North America and store closures in the EMEA region—both tied to COVID-19. However, analysts generally believe the underlying demand for Nike's products remains strong and see top-line momentum resuming in the quarters ahead. (Read More)

Nike Eyes North American Recovery In Fiscal Q4

Nike Eyes North American Recovery In Fiscal Q4

Nike’s sales in the third quarter ended February 28 came in below Wall Street’s targets as container shortages and port delays impeded the North America wholesale business. However, Nike said demand for its products remains strong and inventory flows are expected to improve, with much of third quarter’s miss expected to be made up in its fourth quarter. (Read More)

Inside The Call: Dorel Sees Heightened Interest In Cycling As The ‘New Normal’

Inside The Call: Dorel Sees Heightened Interest In Cycling As The ‘New Normal’

Dorel Industries Inc. reported sales at its Dorel Sports cycling segment rose 13.8 percent in the fourth quarter and expects cycling's momentum to continue after the pandemic is over; however, supply chain constraints continue to curtail top-line growth. Martin Schwartz, president and CEO, Dorel Industries, said, “Demand for bicycles overall is clearly outpacing the ability to supply in both the IBD and mass channels.” (Read More)

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