Li Ning reported profits on an adjusted basis improved 34 percent in the year ended December 31 as revenues gained 4.2 percent.
Category: Apparel
Report: Nike Undergoes Additional Layoffs
Nike instituted an “unspecified number of recent layoffs” in an effort to build a “flatter, nimbler company,” according to a report from The Oregonian.
New Balance Announces Long-Term Relationship With Stone Island
New Balance and Stone Island, the Italian sportswear brand recently acquired by Moncler, announced a long-term product collaboration.
Adidas Confirms Peloton Apparel Partnership
Adidas confirmed plans to launch an apparel collection in partnership with Peloton. The collection marks Peloton’s first-ever instructor-designed global-level collaboration.
JD Sports Completes Acquisition Of DTLR
JD Sports Fashion Plc said it completed its acquisition of DTLR Villa LLC.
Snap Acquires Fit Analytics
Snap, the parent of Snapchat, announced that it acquired Berlin-based start-up Fit Analytics, which counts more than 18,000 retailers and brands as users of its solutions.
Nike’s Q3 Impacted By Supply Chain Bottlenecks
Nike Inc. reported a significant year-over-year gain in earnings on a 3 percent revenue gain. Earnings topped analyst estimates but sales came in well short. North America revenues declined 11 percent on a currency-neutral basis, largely driven by inventory delays due to container shortages and U.S. port congestion.
Everlast Signs License With SportLife Brands
Everlast Worldwide Inc. signed a new agreement with SportLife Brands, LLC of New York City. SportLife will produce, market and sell men’s, women’s, boy’s, and girl’s underwear, sleepwear, baselayers, and thermals under the Everlast brand in the U.S.
Fanatics Partners With University Of Oklahoma
Fanatics and the University of Oklahoma announced a 10-year exclusive retail and licensing partnership which, beginning this year, will see Fanatics become the University’s primary apparel and headwear partner.
Duluth Holdings’ Sales Dip In Fourth Quarter
Duluth Holdings Inc. reported a modest decline in earnings on a 1.4 percent slide in sales in the fourth quarter ended January 31. Strong online sales continued to offset steep declines in-store sales. Sales have recovered to show mid-teens growth early in fiscal 2021.
Lululemon Chairman’s SPAC Goes Public
KKR Acquisition Holdings I Corp. (KAHC.U), a SPAC (special purpose acquisition company) founded by KKR & Co. and Lululemon Athletica Chairman and former Gap Inc. CEO Glenn Murphy, raised $1.2 billion in an upsized initial public offering.
Dunham’s Sports To Open In Mason City
Dunham’s Sports announced it would be opening a store in Mason City, IA this summer, bringing up to 40 new full-time and part-time jobs to the community.
G-III Apparel’s Q4 Sales Decline 30 Percent
G-III Apparel Group, Ltd. reported sales declined 30.3 percent in the fourth quarter and 35.0 percent in the full year ended January 31. The company predicted sales to climb 13.6 percent in the first quarter.
Nordstrom Launches Livestream Shopping Program
Nordstrom will begin hosting a series of live streaming events, where store employees or brand partners will showcase certain products on video.
3DLOOK Announces $6.5 Million Series A Round
3DLOOK announced that it has raised $6.5 million in Series A funding, led by Almaz Capital with participation from TMT Investments and Zubr Capital. The investment brings the online body measurement start-up’s total fundraising to date to $11.2 million.
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