Tapestry Inc., the parent of Coach, Kate Spade and Stuart Weitzman, appointed Thomas A. Glaser, as chief operations officer. He most recently held the position of vice president, VF Corporation and president, supply chain.
Category: Apparel
Canada Goose’s Q4 Revenues Climb 25 Percent
Canada Goose reported flat earnings on an adjusted basis in the fourth quarter ended March 31 while revenues rose 25.1 percent.
VF Corp Appoints EVP, Global Supply Chain
VF Corporation announced the appointment of Cameron Bailey to the position of executive vice president, global supply chain.
Dick’s Lifts Outlook After Q1 Beat
Dick’s Sporting Goods raised its full-year profit outlook after reporting first-quarter earnings that topped analysts’ estimates. Same-store sales were flat in the quarter compared with a drop of 2.5 percent during the same period a year ago. CEO Ed Stack said same-store sales at Dick’s “turned positive in March and remained positive in April, as we started to see the benefits of our key strategies and investments.”
Trade War Impact Remains Uncertain
On quarterly conference calls last week, executives at both retailers and vendors said the ultimate impact of the tariff war isn’t clearly known, especially if the fourth tranche on $300 billion of imports that hit apparel and footwear items becomes effective. But most reassured analysts they’re taking or have taken steps to mitigate most of the expected damage. Comments from VF Corp, Deckers Brands, Kohl’s, JC Penney, Target, Hibbett Sports, TJX Cos. and Ross Stores.
Anne Worcester Named President Of Universal Tennis
Universal Tennis, the world’s premier tennis platform, announced that Anne Worcester, former WTA CEO & Connecticut Open Tournament Director, has joined the company as president.
Ross Stores’ Q1 Comps Gain 2 Percent
Ross Stores, Inc. reported earnings per share for the 13 weeks ended May 4, 2019 of $1.15, up from $1.11 for the same period last year.
Foot Locker’s Q1 Falls Short Of Targets
Foot Locker Inc. reported earnings on an adjusted basis eased slightly in the first quarter as increased operating costs to fund strategic initiatives offset improving gross margins and a 4.6 percent comp gain. Earnings came in below Wall Street’s consensus target.
Nike Signs Likely No. 2 NBA Draft Pick
Nike signed Ja Morant, the former Murray State guard who’s expected to be taken second in the upcoming NBA Draft.
Hibbett Sports Q1 Profits Flies Past Estimates
Hibbett Sports Inc. sharply raised its outlook for the year after reporting first-quarter earnings that blew past Wall Street’s consensus target. Comparable store sales increased 5.1 percent.
Stage Stores Logs Q1 Loss On Charges
Stage Stores Inc. reported a loss after impairment charges in the first quarter while same-store sales dipped 3.1 percent. The department store operator reaffirmed guidance for fiscal year 2019.
Stein Mart To Install Amazon Pick-Up Lockers
Stein Mart plans to house Amazon lockers in 200 of its 283 stores. Amazon Hub Lockers are secure, self-service kiosks that provide customers of the online retailer an alternative delivery option to pick up and return their Amazon packages.
Avenatti Indicted In Nike Extortion Case
Controversial lawyer Michael Avenatti was charged with trying to extort Nike out of more than $20 million dollars by threatening to go public with claims the company was facilitating payments to the families of high school basketball stars. Avenatti separately was charged with stealing about $300,000 from his former porn star client Stormy Daniels.
OIA Skip Yowell Future Leadership Academy Announces Capstone Projects
Outdoor Industry Association (OIA) announced capstone projects for Class 4 of the Skip Yowell Future Leadership Academy (FLA), an immersive leadership experience for the next generation of outdoor industry game-changers. This year’s class includes 35 driven emerging leaders from REI, Yakima, Pacific Crest Trail Association, Backcountry.com, The North Face, Outdoor Research, Burley and others.
Foot Locker Surprises High School Seniors With Scholarships
For the eighth consecutive year, the Foot Locker Foundation has awarded $20,000 scholarships to 20 outstanding student-athletes.
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