Franchise Group, Inc., the owner of The Vitamin Shoppe, Buddy’s Home Furnishings and other retail chains has offered $9 billion, or $69 a share, to acquire Kohl’s Corp, sources told Reuters.
Category: Apparel
Lululemon Expands Resale Program To U.S. Stores
Lululemon Athletica, Inc. announced the nationwide expansion of Lululemon Like New, the brand’s first trade-in and resale program.
Delta Apparel Expects 20 percent Fiscal 2022 Second Quarter Sales Growth
Delta Apparel, Inc. said it expects net sales for its March quarter to be approximately $130 million, representing a 20 percent increase compared to the prior year’s second-quarter result of $108.6 million, with double-digit sales growth in both the Delta Group and Salt Life Group segments.
T&C Surf Names New President
Craig Sugihara, founder and owner of T&C Surf Designs, appointed his son Ryan Sugihara president.
Kohl’s Sends Letter to Shareholders Highlighting Strong Board
Kohl’s, which is facing an activist shareholder seeking to overhaul its board, mailed a letter to shareholders detailing how its “highly qualified Board of Directors that has the necessary skills to oversee Kohl’s evolving strategy.”
Levi Strauss Accelerates East Asia Pacific Growth
Levi Strauss & Co. announced plans to accelerate growth in the East Asia Pacific (EAP) region. Central to the growth strategy is the diversification of the business across geographies, apparel categories and distribution channels.
Brooks Appoints Chief Running Advisor
Brooks has named the two-time US Olympian Des Linden as its new chief running advisor to further support its innovation efforts. Linden will help the running brand conceive and create new products and technology.
Canadian Brand Seven Peaks Opening U.S. Office And Distribution Warehouse
Seven Peaks Corporation, based in Laval, Quebec, announced that it is opening an office and distribution center in Harrisburg, PA to support growth in the United States.
Mastercard SpendingPulse: U.S. Retail Sales Grow 8.4 percent in March
According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, total retail sales, excluding auto, increased 8.4 percent year-over-year (YOY) in March and 18.0 percent compared to pre-pandemic spending (2019), not adjusted for inflation.
Shein Raises Over $1 Billion In Funding Round
Shein, the Chinese fast-fashion company, raised between $1 billion and $2 billion in the funding round at a valuation of $100 billion, according to reports.
Beach Bunny Swimwear Opens Four Stores
Beach Bunny Holdings, LLC., the female-founded swimwear brand, announced the opening of four new retail store locations in Tampa, Los Angeles, San Diego, and Houston.
Rally House Expands With Two Stores
Rally House opened its third Kentucky location in Simpsonville and 17th Texas location in Waco.
Gymshark To Restructure As It Preps For U.S. Expansion
Gymshark could lay off as many as 10 percent of its workforce in an overhaul of the online-only retailer according to reports. The Financial Times reported that the sportswear group also plans to create 100 new jobs as it focuses on the lucrative U.S. market.
U.S. Ports Seeing Brief Slowdown From Last Year But Imports Remain High
The nation’s major retail container ports have begun to catch up with the backlog of cargo seen over the past several months but could experience another surge this summer, according to the monthly Global Port Tracker report released by the National Retail Federation.
Fabletics Names Chief Design And Merchandising Officer
El Segundo, CA-based Fabletics, announced that it hired Kelli Dugan as chief design and merchandising officer, responsible for product creation, including merchandising, design and planning. Dugan will also lead the ongoing global expansion of its business into men’s, loungewear and swim.
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