J.C.Penney submitted its business plan to lenders, but is asking Texas bankruptcy court for more time to continue negotiations with lenders on a restructuring plan.
Category: Apparel
Delta Apparel To Report Sharp Sales Decline For Fiscal Q3
Delta Apparel, Inc. said it expects sales to drop 39.6 percent in the third quarter ended June 27, but noted that its business strengthened over the last two months of the period. DTG2Go’s preliminary sales grew 30 percent over prior year and Salt Life Group’s delivered June sales growth of 7 percent over the prior year.
Big 5 Sees Robust Q2 Profit Turnaround Despite Comps Decline
Big 5 Sporting Goods released upbeat preliminary results for the fiscal second quarter ended June 28. The company said it expects earnings per share of 52 cents to 54 cents for the quarter, including a benefit of 15 cents related to rent abatements and litigation recovery, compared with breakeven EPS a year ago.
Nike Launches Nike Rise Concept Store In Guangzhou, China
Nike launched a new Nike Rise retail concept in Guangzhou that promises a curated “1-to-1, personalized shopping journey that connects consumers to sport, their communities and one another.”
RVCA Retains Northwest Sales Agency
RVCA has appointed Northwest Road Reps to represent the Pacific Northwest.
RIA’s KICK On-Demand Event Starts Tuesday
The Running Industry Association’s (RIA) virtual buying show, KICK On-Demand will kick off this Tuesday, July 14th. Eight live sessions are scheduled for the first week.
Costco’s U.S. Same-Store Sales Climb 11 Percent In June
Costco Wholesale Corp. said its June sales rose 11 percent to $16.2 billion, from $14.6 billion in June 2019. Same-store sales rose 12 percent, including an 11 percent increase in U.S. same-store sales.
NPD Sees Continued Strong Online Growth For Apparel
E-commerce will continue to play a strong role in the apparel industry’s success, particularly while the in-store shopping experience feels different from what consumers are accustomed to, according to insights from the new Future of Apparel report from the NPD Group. In early June, U.S. consumers told NPD that more than half of their planned apparel purchases for the next two weeks would be made online.
The Buckle’s Sales Jump 27 Percent In June
The Buckle, Inc. announced that total net sales for the 5-week fiscal month ended July 4, 2020 increased 26.8 percent to $94.8 million from net sales of $74.8 million for the prior year 5-week fiscal month ended July 6, 2019.
Snipes USA Announces New President
Snipes has appointed Jim Bojko as president of Snipes USA. In this role, Bojko is responsible for leading the U.S. operations of the international sneaker and streetwear retailer as it continues to expand the brand across the United States.
Retail Imports Improving Slightly, But Still Far Below Last Year
Imports at major U.S. retail container ports are expected to remain significantly below last year’s levels into this fall as the impact of the COVID-19 pandemic continues, according to the monthly Global Port Tracker report released by the National Retail Federation.
Under Armour Partners With Eastern Mennonite University
Eastern Mennonite University in Harrisburg, PA announced that it has entered into a five-year partnership with Under Armour through BSN Sports.
Pinarello Appoints CEO Of U.S. Operation
Pinarello has hired Roberto Sadowsky as as Chief Executive Officer at the U.S. operation of the premium bicycles, accessories and apparel brand.
FC Barcelona To Seek Compensation From Nike For Flawed Jerseys
FC Barcelona plans to seek a monetary recovery from Nike after discovering its new football kits are defective, according to the Financial Times. The report stated that a manufacturing error caused the colors to bleed when wet.
JCPenney Closing Manhattan Mall And Kings Plaza Locations In NYC
JCPenney disclosed in bankruptcy court filings that it was closing two more locations in New York City. The locations are at Manhattan Mall in Manhattan and Kings Plaza in Brooklyn.
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