U.S. online holiday sales from November to December 2023 will rise 4.8 percent year-over-year (YoY) to $221.8 billion, marked by retailers offering deep discounts and increased online shopping spend, according to Adobe’s forecast.
Category: Apparel
Levi’s Q2 Impacted By U.S. Wholesale Weakness, Beyond Yoga Impairment Charge
Levi Strauss & Co. said it expects earnings for its fiscal year ended November 30 to come in at the low end of prior guidance while citing continued weakness within the U.S. wholesale channel. The company also absorbed an impairment charge of $90.2 million related to its 2021 acquisition of Beyond Yoga.
Black Diamond Parent Retains Advisor to Assess Ammo Biz Acquisition Offers
The move comes in response to the previously disclosed non-binding indication of interest received from Warren B. Kanders, the company’s executive chairman, to acquire the company’s Precision Sport segment.
Feetures Breaks Ground on New Warehouse Facility
Features broke ground at the end of September for its new 60,000-square-foot warehouse located in Hickory, NC.
Timberland Names Chief Marketing Officer
Timberland announced Maisie Willoughby as the brand’s new Vice President and Chief Marketing Officer (CMO). Most recently, she spent five years at Alexander Wang.
Elegant Team Development Acquired by Lever Style
Elegant Team Development, a Hong Kong-based supply chain solutions provider with expertise in outdoor and activewear, was acquired by Lever Style, the apparel production platform also headquartered in Hong Kong.
Sports Direct’s Parent Company Plans New HQ
Frasers Group, the U.K.-based parent of Sports Direct, submitted a planning application for a new global headquarters campus at Ansty in Rugby, Warwickshire. The company’s current headquarters are in Shirebrook, Derbyshire.
HanesBrands and University of Cincinnati Extend Partnership
HanesBrands and the University of Cincinnati signed a multi-year extension to their primary apparel partnership that gives HanesBrands exclusive rights across all retail channels to design, manufacture and distribute University of Cincinnati fanwear.
EXEC: An Inside Look at On as Company Builds a “True Sportswear Brand”
On is also looking to expand its share with core runners as part of a long-term goal to become the world’s leading running shoe but recent findings show the brand being worn by just 15 percent of runners on major running routes in Miami and only 7 percent in New York City.
The Buckle’s Comps Decline 11 Percent in September
The Buckle, Inc. reported that its comparable store net sales for the 5-week period ended September 30 decreased 11.1 percent from the year-ago period.
Report: U.S. Apparel Sales Down 4 Percent for August YTD Period
Units sold declined at a faster rate for the eight-month period, according to retail data firm Circana.
Outdoor Recreation Roundtable Names VP of Programs
Outdoor Recreation Roundtable promoted Chris Perkins to vice president of programs.
PVH Corp. Debt Ratings Outlook Upgraded
S&P Global Ratings revised its debt ratings outlook on PVH Corp. to positive as the parent of Tommy Hilfiger and Calvin Klein demonstrated a track-record of maintaining leverage of less than 3x in recent years.
EXEC: U.K. Retailers Facing Rising Retail Crime Demand Government Action
The 2023 BRC Crime Survey showed incidents of violence and abuse towards retail workers had almost doubled from pre-pandemic levels to 867 incidents every day in 2021/22. Top executives at JD Sports were signatories to the demand letter.
On Plans to Double Sales and Reach 60 Percent Gross Margin by 2026
The company plans to grow 2026 net sales to at least CHF3.55 billion, or approximately $3.95 billion at the average September 2023 conversion rate, reflecting a CAGR of over 26 percent based on its 2023 forecast.
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