The 361° Kids business, a major initiative for the company in China, grew 33.4 percent year-over-year and now accounted for approximately 21.1 percent of the Group’s total H1 revenue.
Category: Apparel
Target Slashes Guidance After Q2 Sales Shortfall
Target, Inc. reduced its full-year profit outlook on “continued near-term challenges on the topline” The readjustment came despite the discounter reporting second-quarter earnings that handily topped Wall Street as tight inventory controls offset lower-than-expected sales.
Macy’s Hires Chief Customer and Digital Officer
Macy’s Inc. named Massimo Magni chief customer and digital officer, effective August 21. He was a more than 20-year veteran of McKinsey & Company.
EoS Fitness Opens New Center in Miami-Dade County
The new 40,000-plus square foot gym in Kendall, FL adds to the company’s eight locations across the state, keeping EoS on track to reach its goal of 10 gyms statewide by the end of 2023.
EXEC: Pou Sheng is Latest Chinese Retailer to Boast Growth on China Re-Opening
The retail subsidiary of footwear manufacturing powerhouse Yue Yuen International, said it saw decent recovery momentum with increased foot traffic to its brick-and-mortar channels and improved purchasing intent following the lifting of all control measures in mainland China.
EXEC: On Continues to Gobble Up Share in U.S. Run Specialty
On Holdings once again raised its sales guidance for the year after reporting second-quarter results that topped analyst targets. In the Americas, sales vaulted 59.8 percent in the period, driven by strong full-price selling and share gains within the run specialty channel.
EXEC: Descente Ltd. Gets Lift from China Re-Opening in Fiscal Q1
Japan and South Korea reportedly “progressed as expected,” and China’s performance expanded significantly due to “revenge consumption” following the re-opening in January.
Report: July Retail Sales Grew 3.2 Percent Year-Over-Year
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.
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.
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