The U.S. Census Bureau reported that overall retail sales in July were up 0.7 percent from June and up 3.2 percent year-over-year. That was double the increases seen in June.
Category: Apparel
EXEC: Analysts Offer Mixed Feedback on July Retail Sales Increase
Retail sales reversed their downward trend in July as Amazon Prime Day and major promotions prompted increased shopping while wage increases gave consumers more money to spend, but an increase in the July inflation numbers and a year-ago July decline could also be at the core of the increase, according to analysts.
F45 To Voluntarily Delist And Deregister Stock
F45 Training Holdings, Inc. announced its intention to voluntarily delist from the New York Stock Exchange and to deregister its common stock.
EXEC: Fila Holdings Sees Sharp Decline in Q2 Margins, Profit on Inventory Liquidation
The company was able to offset most of the sales decline at Fila Brand with a solid contribution from the Acushnet business but the company was not so lucky with margins or profits as inventory liquidation took its toll on the quarter’s bottom line and outlook.
Columbia Sportswear Names Chief Product Officer, Columbia Brand
Columbia Sportswear Company hired Woody Blackford as senior vice president and chief product officer for the Columbia Brand. Blackford is returning to Columbia, where he previously worked for 14 years, culminating in the position of VP of global design and innovation.
Trove Secures $30 Million In Funding Round
Resale tech platform Trove reported it raised $30 million in a Series E funding round, bringing its total funding to over $150 million.
On’s Sales Surge 60 Percent Currency-Neutral In Second Quarter
On Holdings reported adjusted EBITDA nearly doubled in the second quarter as sales vaulted 52 percent (60 percent on a currency-neutral basis). Sales in the Americas region jumped 59.8 percent. On again lifted its full-year sales guidance, implying a full-year growth rate of 44 percent and a second half-year growth rate of close to 30 percent. On Holdings forecast for EBITDA margin was maintained.
Study: Luxury Retailers Brace for Rise in Losses to Theft and Security Issues
A new global research survey asked luxury retailer senior executives with a total annual turnover of $3.1 billion across the U.S., South America, Europe, Africa, and Asia revealed that 62 percent expected a rise in losses to theft over the next three years.
Amazon Eliminates Dozens of In-House Brands
Amazon pruned a wide range of private brands to exit weaker performers. The move is timed with the retailer facing antitrust scrutiny involving the expansion of its in-house labels.
Blain’s Farm & Fleet Names New President
Blain’s Farm & Fleet, a family-owned company for 68 years, promoted Mark Hasting to president, the first time a non-family member has held the position, in addition to his chief commerce and operating officer role. Jane Blain Gilbertson, the owner of Blain’s Farm & Fleet and Blain Supply, Inc., will remain CEO.
Madewell Names President
J.Crew Group appointed Adrienne Lazarus as president of its Madewell brand, effective next month. Most recently, Lazarus was the co-CEO of CUUP, a direct-to-consumer intimates brand newly acquired by FullBeauty Brands.
Tapestry, Inc. Acquires Capri Holdings in $8.5 Million Deal
This acquisition brings together the Coach, Kate Spade, and Stuart Weitzman brands owned by Tapestry with the Versace, Jimmy Choo, and Michael Kors brands owned by Capri.
HatClub Expands Retail to LA Market with Melrose District Store Opening
Located in the heart of the Melrose shopping district, the store opened on August 12, marking the retailers second largest location in the U.S. behind its New York flagship store.
Asics North America Delivers Seventh Straight Quarter of Double-Digit Online Growth
Asics North America reported positive growth in the second quarter was boosted by double-digit growth in Sportstyle and Core Performance Sports categories across the region and marked by the region’s seventh consecutive quarter of double-digit e-commerce growth.
Canada Goose’s Debt Ratings Upgraded on DTC Focus/China Rebound
S&P Global Ratings raised its credit ratings on Canada Goose as it sees a continued focus on the higher-margin, direct-to-consumer segment and recovering sales in China helping the outerwear maker’s performance going forward.
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