Modell’s Sporting Goods said two more stores in Manhattan – located at 150 and 280 Broadway – will not be closing as planned due to negotiations with landlords, according to a Bloomberg report. The spared stores bring Modell’s planned closings to 17.
Category: Apparel
Report: Stage Stores Closing More Than 70 Locations
Stage Stores, Inc. has reportedly laid off more than 20 percent of its corporate staff and plans to close more than 70 of its approximately 700 stores, according to a report from Retail Dive.
Active Ride Shop Announces New Ownership
Active Ride Shop, the skate chain based in Ontario, CA, announced that Bedford Ventures Inc. has acquired its assets from GemCap Lending following an auction process. The new owners plan to re-open three stores this spring.
J. C. Penney’s Q4 Comps Slide 7 Percent
J. C. Penney Company reported earnings on an adjusted basis fell 24.6 percent in the fourth quarter as same-store sales were down 7.0 percent.
VF Corp. Closes Inaugural €500 Million Green Bond
VF Corp. announced the closing of its €500 million green bond offering, representing the first green bond issued in the apparel and footwear industry. The amount equivalent to the net proceeds from the offering will be used to advance programs within the company’s Made for Change Sustainability & Responsibility strategy.
Acushnet’s Earnings Soar In Q4
Acushnet Holdings Corp., the parent of Titleist, reported net income rose 57.0 percent in the fourth quarter on a 7.3 percent sales gain. Net earnings rose 21.2 percent in the year on a 2.9 percent sales increase.
RYU Apparel Inc. Sets Major Restructuring
RYU Apparel said it has scaled back growth plans, significantly reduced its corporate headcount and closed two mall locations due to challenges the four-year-old activewear brand has faced securing funding.
BSN Sports Announces Partnership With National Pro Fastpitch
BSN Sports, a division of Varsity Brands, announced a partnership with National Pro Fastpitch (NPF), the United States’ leading professional women’s softball league. The move marks BSN Sports’ latest investment in the growth and success of female athletics – and women’s softball in particular.
Revolve Sees 16 Percent Q4 Growth
Revolve Group, the fashion e-tailer, reported sales in the fourth quarter ended December 31 rose 15.5 percent to $147.6 million from $127.7 million.
Tokyo Olympics May Be Cancelled If Coronavirus Not Contained By Late May
The 2020 Tokyo Olympics are more likely to be canceled than moved or rescheduled if by late May the coronavirus outbreak is deemed too dangerous to go ahead with the original schedule, according to International Olympic Committee member Dick Pound.
Golf Celebrity Gary McCord To Speak At NSGA Management Conference
Gary McCord, the popular golf television analyst, author and speaker, has signed on as a keynote speaker at the National Sporting Goods Association (NSGA) 56th Annual Management Conference & 22nd Annual Team Dealer Summit.
SquadLocker Attracts $20 Million Investment
SquadLocker, a leading uniform and custom team gear provider, announced the closing of a $20 million Series C funding round led by late-stage growth company investor ABS Capital Partners.
Big 5 Warns Of Q1 Loss
Big 5 Sporting Goods Corp. reported earnings of $356,000, or 2 cents share, in the fourth quarter, rebounding from a loss a year ago. But the retailer said it expects a loss in the first quarter as winter weather conditions have softened significantly over the course of the period. Same-store sales are currently running down approximately 10 percent in the quarter.
Modell’s Releases List Of Planned Store Closures
Modell’s Sporting Goods’ list of the 19 stores it plans to close includes nine locations in its hometown of New York City. The retailer initially said it planned to close 24 stores but rent concessions will keep five open.
Macy’s Q4 Exceeds Wall Street’s Target
Macy’s Inc. reported both earnings and sales were down in the fourth quarter but sales were down less than expected and earnings exceeded Wall Street’s consensus target.
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