Vera Bradley, Inc. reported sales of Pure Vida declined 3.6 percent year-over-year in the second quarter ended July 30 to $25.1 million, primarily related to a decline in wholesale revenues.
Category: Apparel
EXEC: Mainland Headwear H1 Revenues, Profits Fall Double-Digits
The manufacturer and seller of headwear and accessories products said in its H1 report that manufacturers and traders faced the “challenges of built-up inventories waiting to be consumed, weakened new demand and stagnant production and sales.”
Report: Resale Market To Reach $276 Billion in Five Years
OfferUp’s 2023 Recommerce Report found that 85 percent of shoppers buy and/or sell secondhand goods, an increase of 3 percent from 2022. Furthermore, 27 percent of shoppers ventured into the secondhand market for the first time in the last year.
August U.S. Consumer Confidence Index Decline is Highest in Two Years
U.S. consumer confidence fell the most in two years as pessimism on the labor market, higher borrowing costs and stubborn inflation curbed optimism. The Conference Board continues to expect a recession before the year’s end.
Report: Golf Apparel Has First Monthly Sales Decline in 18 Months at Specialty
Golf Datatech reported that July 2023 retail sales for golf apparel at on- and off-course specialty shops in the U.S. posted their first decline in 18 months, decreasing 3.6 percent versus the year-ago July period.
MC Sports’ Mort Finkelstein Passes Away
Mort Finkelstein, the co-founder of the MC Sports chain, passed away on August 17. He was 93.
Macy’s Partners With Gap on Sleepwear and Intimates Line
Macy’s announced that it is selling an exclusive collection of Gap sleepwear, loungewear, underwear, and intimates, marking the first time the two retailers have partnered.
Mitchell & Ness Names New CEO as Kevin Wulff Retires
Eli Kumekpor has been named the company’s CEO, effective immediately. Kumekpor was most recently global VP and general manager of the Jordan Brand’s men’s business. He succeeds Kevin Wulff, who is retiring on Friday.
Active Brands Group Hires E-Commerce Manager
Sweden-based ABG hired Rohan Callander as e-commerce manager responsible on expanding the DTC business for its portfolio of brands.
Wolverine’s Debt Ratings Lowered by Moody’s
Moody’s Investors Service downgraded the debt ratings of Wolverine World Wide, Inc., reflecting the company’s significant earnings decline in Q2 2023 and Moody’s expectations for continued weak near-term performance. S&P Global Ratings similarly recently reduced its rating.
EXEC: Active Lifestyle Well Represented on 2023 Inc. 5000 List
Golftec, Xero Shoes, SylvanSport, Stinger Sports, Bases Loaded and GiantMouse are brands in the wide range of companies in the active lifestyle space to land in Inc’s 5000 for 2023 annual ranking of the fastest-growing private companies in America—a snapshot of companies’ performance from 2019 to 2022.
Ouray Sportswear to Close Colorado Operations Following Sale
Ouray Sportswear is closing its production facility in Englewood, CO, following its sale to Philadelphia-based L2 Brands in January 2023. The closure will affect 154 jobs.
Rally House Continues Growth In New Store Openings
Rally House opened five new stores in five states this past weekend, they follow the seven stores the retailer opened last weekend. It now counts 16 stores opened in August.
EXEC: Symphony Holdings Warns of Increased Loss for H1 Period
The company is the owner of the trademark and patent of compression wear brand Skins. The Group also operates the Pony footwear brand in APAC countries, excluding China and Taiwan regions, with Iconix International Inc.
BTS Study: Nike Losing Ground With Retailers as Others Gain Favor
Nike continues to be the most popular brand at retail for back-to-school (BTS) footwear by a wide margin, according to Stifel’s 16th Annual Back-to-School Athletic Footwear Survey of major athletic footwear sellers.
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