Athleta’s net sales were up 35 percent in the second quarter versus 2019, according to its parent, Gap Inc. Comparable sales at Athleta grew 13 percent year-over-year and 27 percent versus 2019.
Category: Apparel
Resale Startup Trove Raises $77.5M
Trove, a Brisbane, CA-based branded recommerce company, raised $77.5 million in Series D funding. The round, which brought Trove’s total funding to date to $122.5 million, was led by G2 Venture Partners with participation from Bank of Montreal, Capital One Ventures, Commerce Ventures, and Wellington Management.
Gap Inc. Acquires E-Commerce Startup Drapr
Gap Inc. has acquired Drapr, an e-commerce startup and online tech application where customers can create 3D Avatars and virtually try on clothing.
Urban Outfitters Sees Q2 Sales Improve 20.3 Percent Against Q219
Urban Outfitters reported net sales for the three months ended July 31 were a record $1.16 billion. Net sales increased 20.3 percent compared to the three months ended July 31, 2019.
Golf Rounds Played Slide In July
U.S. golf rounds played were down 3.9 percent in July 2021 against a surge in play in the year-ago period due to the pandemic, according to Golf Datatech. For the year-to-date period, rounds played are ahead 16.1 percent.
SFIA Endorses Ocean Shipping Reform Act
SFIA announced it supports Congress in its recent proposed legislation to ease U.S. companies’ challenges regarding shipping during the pandemic.
Burlington Stores Sees Q2 Sales Expand 34 Percent Against 2019 Quarter
Burlington Stores Inc. reported profits on an adjusted basis rose 46.2 percent in the second quarter ended July 31 and sales grew 34 percent compared to the second quarter of 2019.
Lululemon Raises Minimum Base Pay For Hourly Staff
Lululemon Athletica Inc. announced a comprehensive overview of the company’s approach to pay and benefits. Effective September 27, 2021, Lululemon will raise the minimum base pay for the majority of its store and Guest Education Centre (GEC) employees in North America. As part of the additional investments, people who are currently employed, and individuals who are hired from this point forward, will receive a new minimum of $15 or $17 per hour depending on their role and the market.
SAXX Receives Strategic Investment From TZP Group
SAXX Underwear Co. Ltd. announced that it has received a strategic investment from TZP Group, a multi-strategy private equity firm, through TZP Capital Partners III, L.P.
Under Armour Founder To Sell Stock
Kevin Plank, founder, executive chairman and brand chief of Under Armour, plans to sell up to 5 million shares of Under Armour stock, according to a regulatory filing.
Fanatics Partners With Texas A&M
Fanatics signed a 10-year partnership with Texas A&M University. The deal was timed to coincide with the launch of Texas A&M’s 12thManShop.com that will tap into Fanatics’ e-commerce and mobile retail capabilities.
GOA ‘Connect’ Show Early Registration, Vaccine Requirement And Expanded Refund Policy
GOA announced that advance registration is open for its annual ‘Connect’ buying show at the Kansas City Convention Center, scheduled for November 8-11, 2021. Attendees will be required to show proof of vaccination, with an expanded refund policy.
Dick’s SG Hikes Outlook As Second Quarter Crushes Analyst Targets
Dick’s Sporting Goods strongly raised its guidance for 2021 after reporting second-quarter earnings that came in well above Wall Street targets. Sales in the quarter increased 20.7 percent compared to the second quarter of 2020 and increased 45.0 percent compared to the second quarter of 2019. The company also announced a special dividend of $5.50 per share, a 21 percent increase in its quarterly dividend to $0.4375 per share and an increase in its planned share repurchases to a minimum of $400 million.
Shoe Carnival’s Earnings Surge In Second Quarter
Shoe Carnival Inc. reported earnings in the second quarter ended July 31 increased four-fold as same-store sales grew 11.4 percent. Results came in well above company guidance.
Anta Sports Posts Mega First Half Gains
Anta Sports Products Ltd. reported revenues grew 55.5 percent in the first half against a year ago and 54.0 percent compared to the same period of 2019.
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