HanesBrands Inc. raised its earnings guidance for the year after reporting third-quarter sales reached the mid-point of its expected range with operating profit and EPS arriving at the high-end of targets.
Category: Apparel
EXEC: SportChek’s Q3 Retail Sales Grow and Helly Hansen Declines for Parent Canadian Tire
SportChek retail sales increased 2.0 percent year-over-year and comparable sales were up 2.9 percent for the quarter, marking two consecutive quarters in which SportChek outperformed industry trends.
Solo Brands Logs Deep Q3 Loss on Terminated Marketing Contract, Impairment Charges
Solo Brands, Inc. posted a net loss of $111.4 million in the third quarter due to costs related to the termination of an underperforming marketing agreement, impairment charges for IcyBreeze and an impairment charge related to its declining stock price—results excluding the adjustments aligned with expectations with sales down 15 percent.
Merrell and Saucony Post Above-Plan Q3 Sales; Parent Lifts FY Guidance
Wolverine World Wide, Inc. raised its revenue and earnings guidance for the year after sales in the third quarter, which exceeded company expectations, driven by above-plan performances from Merrell and Saucony. Gross margins expanded 450 basis points on significantly lower inventory levels.
Canada Goose Posts Q2 Net Income Increase Despite Revenue Decline, Lowers Outlook
The company saw fiscal second quarter revenue decrease 5 percent to CN$267.8 million in the period ended September 29, a 6 percent year-over-year decline on a constant-currency basis.
EXEC: Puma Eyes Boost from Low-Profile Footwear Trend
Puma’s growth accelerated in the third quarter to a 5 percent currency-adjusted (ca) gain from 2.1 percent in the second quarter, led by a recovery in footwear demand. Arne Freundt, CEO of Puma, said on a media call, “I’m very confident to say that we are leading the low-profile trend.”
Vista Outdoor’s Q2 Sales Slide 1.6 Percent as Ammo Growth Offsets Outdoor Declines
Vista Outdoor Inc. reported sales declined 1.6 percent in the fiscal second quarter ended September 30 as sales declined 3.9 percent at its Revelyst outdoor products segment and inched up 0.5 percent at Kinetic Group. Results were in line with expectations with Revelyst exceeding plan. Vista’s board again unanimously recommended shareholders vote for a deal to sell Kinetic Group with Czechoslovak Group (CSG).
Revolve Group’s Q3 Profits Surge On 10 Percent Sales Growth
The online fashion retailer reported adjusted earnings jumped 85 percent in the third quarter ended September 30 on a 10 percent revenue gain.
Vulcabras’ Q3 Sales Expand 7 Percent
Brazil’s Vulcabras reported sales increased 7.3 percent to R$784.6 million ($135 mm) in the third quarter with growth seen at its owned Olympikus brand as well as licensed Mizuno and Under Armour athletic footwear brands.
HanesBrands Closing Champion Distribution Center, Affecting 75 Jobs
According to a report filed with The N.C. Department of Commerce, the plant closure will result in the layoff of 75 workers. Some employees will lose their jobs around December 31. Others will stay on until around January 31.
NRF Study Sees Sharp Increase in Cost to Consumers with Tariff Increase
The National Retail Federation is suggests in its latest study that U.S. consumers could lose between $46 billion and $78 billion in spending power each year if new tariffs on imports to the United States are implemented.
Sitka Gear Expands Midwest Presence with New Illinois Store
The Vernon Hills store joins the Sitka Gear flagship store in Bozeman, MT, and recently opened stores in Dallas, Atlanta, Charlotte, and two stores in the Minneapolis, MN metro area.
Alo Yoga to Open New Store in São Paulo, Brazil
Alo Yoga’s first South American location at JK Iguatemi, the gateway for luxury brands, will enter the market in the first quarter of 2025.
ICSC Sets 2025 Transition Plan for Chief Operating Officer Role
International Council of Shopping Centers, is reporting that Whitney Livingston will join the trade association as chief operating officer in March 2025, succeeding Valerie Richardson, who plans to retire at the end of 2025.
Study: U.S. Consumers See Climate Change Top of Mind for the Future
The NIM Study found that Americans have a cautious eye on the future and challenges that are on the way despite more pressing issues that are having a tangible impact on their lives today.
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