The National Retail Federation raised its outlook for the retail industry for the year as the economy accelerates its pace of recovery. Retail sales are expected to grow between 10.5 percent and 13.5 percent to an estimated total of $4.44 trillion to $4.56 trillion in 2021.
Category: Apparel
Cotopaxi x Nemo Partner With Trove And REI Offering Gently Used Outdoor Gear
Cotopaxi and Nemo announced the launch of a new trade-in recommerce program with Trove and REI to give customers more used gear options.
Rally House Opens Thirteenth Store In Texas
Rally House is expanding into the Lone Star state with the second location in the Frisco area.
Delta Apparel Acquires Autoscale.ai
Delta Apparel Inc. announced it has acquired Dallas-based technology company, Autoscale.ai, to further leverage its existing proprietary automated product workflow from design to fulfillment.
Rally House Opens First Store In Iowa
Rally House is expanding to Iowa and opening its first store in West Des Moines.
Academy Sports’ Q1 Blows Past Wall Street Targets
Academy Sports + Outdoors raised its guidance for the year after reporting first-quarter earnings that came in well above Wall Street estimates. The 38.9 percent same-store gain was driven by continued double-digit consumer demand across all product categories, notably in Apparel, Footwear and Team Sports.
Decathlon U.S.A. Announces New CEO
Decathlon announced the appointment of Christian Ollier as CEO of Decathlon U.S.A., allowing prior CEO, Michel D’Humières, to move on to other projects within the company.
Etsy To Acquire Fashion Resale Marketplace Depop
Etsy Inc. has signed a definitive agreement to acquire Depop, a privately-held marketplace for fashion for $1.625 billion. Following the closing of the transaction, currently anticipated to occur during the third quarter of 2021, Depop will continue to be headquartered in London and operate as a standalone marketplace run by its existing leadership team.
G-III Apparel’s Q1 Exceeds Expectations
G-III Apparel Group reported earnings in the first quarter that topped internal targets as sales grew 28.3 percent. Morris Goldfarb, CEO, said, “With each passing week, sales for broader lifestyle apparel, such as sportswear, wear-to-work attire and dresses, are accelerating.”
Gap Inc.’s Debt Ratings Outlook Raised To Stable
Moody’s Inc. raised its outlook on the debt ratings of Gap Inc. to stable from negative to reflect the significant improvement in its operations as it recovers from the impact of the pandemic.
BAPE Secures New Investor
CVC announced the completion of an investment in A Bathing Ape (BAPE) after the Japanese streetwear brand became an independent company from I.T Limited. With the investment, CVC has acquired co-control of BAPE.
NRF Announces New Board Members
The National Retail Federation elected two new members to the NRF Board of Directors during its virtual summer board meeting. The new members are Hal Lawton, president and CEO of Tractor Supply Company, and Anish Melwani, chairman and CEO of LVMH Moët Hennessy Louis Vuitton Inc.
Fanatics Forms Partnership With Canada Soccer
Fanatics plans to launch and operate Canada Soccer’s new standalone e-commerce and mobile platform and operate on-site retail at Canada soccer’s men’s and women’s national team matches in Canada.
Fanatics Partners With USA Swimming
Fanatics reached a long-term omnichannel retail partnership to become the official fan shop of USA Swimming, the national governing body of swimming in the U.S., online and on-site at USA swimming events.
Pandemic’s Impact On Imports Easing, But Numbers Are Still Below Last Year
The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates..
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