The company delivered first quarter EPS of $2.54 per share, beating Street estimates by 12 cents a share. Revenue amounted to $2.21B, outpaced the estimates. Revenue grew 11 percent year-over-year in constant-dollar terms. .
Category: Apparel
EXEC: Authentic Sells Boardriders Retail Ops in W. Europe; Inks Brand Licenses for Key Cats
Beaumanoir reportedly acquired the retail operations for the Boardriders brands across Western Europe and licensed the rights to manufacture, design and distribute branded products.
HanesBrands Formally Inks Deal to Sell Champion to Authentic Brands Group
The transaction value is pegged at $1.2 billion, with the potential to reach up to $1.5 billion through an additional contingent cash consideration of up to $300 million based on achievement of performance thresholds. Authentic said it intends to manage the Champion brand through a licensing model.
Hibbett Posts Q1 Sales Comps and Earnings Decline on Path to JD Sports Acquisition
Comparable sales decreased 5.8 percent versus the prior-year Q1 period. Brick & mortar comparable sales declined 5.8 percent while e-commerce sales also decreased 5.8 percent on a year-over-year basis.
EXEC: Sportsman’s Warehouse to Focus More on “Warehouse” and Value Moving Forward
The hunting, fishing, camping and shooting specialty retailer is embracing part of its name in a more profound way as 2024 progresses, promising to focus more on the “Warehouse” part of the name to provide more value for cash-strapped outdoor sports enthusiasts
EXEC: Outdoor Voices Acquired by Consortium Brand Partners
The athleisure lifestyle brand, founded in 2013 by Tyler Haney, marks CBP’s second acquisition, following its announcement of a majority stake in Reese Witherspoon’s fashion and lifestyle brand, Draper James in September 2023.
Nike Inc. Takes Cost-Cutting Efforts to EU with Start of HQ Job Cuts
Nike is cutting jobs at its EU headquarters in Hilversum, Netherlands, outside of Amsterdam, as part of a multi-year cost-cutting plan, according to early reporting from Reuters, citing internal sources at the EU headquarters.
Sportsman’s Warehouse Suffers Another Quarter with DD Comp Sales Declines
Same-store sales decreased 13.5 percent during the first quarter, on top of a 17.8 percent comp sale decline in the year-ago first quarter period.
J.Crew Partners with USA Swimming on Exclusive Collection for Summer 2024
The partnership aligns with the American brand’s coastal lifestyle theme and DNA, “showcasing the joys of being by the water, in all its forms.”
NSGA Appoints New Member to Board; Gordon Geiger Takes Over as Chairman
Justin Miller started his three-year term on the Board and Gordon Geiger began his three-year term as Board Chairman on June 1. Miller is the president of Scholastic Sports Sales,
EXEC: Salomon Opens Two New Stores in Paris Ahead of the Olympics
The first Salomon Sportstyle brand store opened in Paris’ Le Marais neighborhood, joining its recently reported, newly opened Champs-Élysées flagship location.
NRF: Consumers Remain ‘Willing to Spend’ Despite Considerable Economic Headwinds
While the growth rate of consumer spending has begun to ease, owing to slower job and wage gains, higher interest and tighter credit, “consumers clearly remain willing to spend.”
Citi Trends Narrows Q1 Net Loss, Tempers Comps Outlook for Year as New CEO Takes Reins
Net loss per share was 42 cents, or a loss of 32 cents per share as adjusted, compared to a loss of 81 cents, or 66 cents as adjusted in Q1 2023.
Skechers Rings In 25th Anniversary with the NYSE and an All-Time High
Skechers, founded in 1992, celebrated its 25th year as a public company by ringing the New York Stock Exchange opening bell on June 3.
Banana Republic Opens Redesigned NYC Flagship Store
The store’s features merge a retail experience with art and architecture amd showcase Banana Republic’s men’s and women’s ready-to-wear, accessories and home collections within 17,000 square feet, covering two floors.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal