Sequential Brands reported a loss of $24.2 million, or 38 cents a share, in the third quarter, after taking an impairment charges of $36.5 million to write-down the value of the trademarks of five of non-core brands: Revo, Nevados, Caribbean Joe, Franklin Mint, and FUL. And1, Avia and Gaiam all performed well during the quarter.
Included in the net loss for the third quarter were non-cash impairment charges of $36.5 million for indefinite-lived intangible assets related to the trademarks of five of the company’s non-core brands.
Nordstrom, Inc. lowered its guidance for the year due to the impact of hurricanes during the third quarter. The estimated reduction in earnings from several hurricanes affecting stores in Puerto Rico, Florida, and Texas was approximately 4 cents a share in the quarter. Total company net sales increased 2.0 percent and comparable sales decreased 0.9 […]
Again benefiting from orders being pulled forward due to strong demand as well as a sterling performance from its direct-to-consumer (DTC) channel, Canada Goose Holdings Inc. reported results in the second quarter ended September 30 that handily topped Wall Street’s targets. The company significantly raised its guidance for both earnings and sales for the year.
Canada Goose Holdings Inc. sharply raised its outlook after reporting better-than-expected results for the second quarter ended September 30. “Our performance reflects the power of our brand around the world and our disciplined approach to executing our growth strategies. We have opened e-commerce sites in all seven of the new markets planned for fiscal 2018 […]
A federal grand jury in New York handed down an indictment against former Adidas executive Jim Gatto after accusing him of conspiring to funnel money to the families of two University of Louisville basketball recruits as part of a federal probe into college basketball recruiting.
Macy’s Inc. reported third quarter 2017 earnings per diluted share of 12 cents, or 23 cents per share excluding restructuring and other costs and non-cash retirement plan settlement charges. This compares with 5 cents per share in the third quarter of 2016, or 17 cents excluding non-cash retirement plan settlement charges.
Kohl’s Corporation reported earnings fell 20 percent in the third quarter while same-store sales inched up 0.1 percent.
After various procedural delays related to motions filed by Columbia Sportswear, the United States District Court for the District of Colorado issued a series of orders that will allow the lawsuit filed by Cocona Inc. against Columbia Sportswear and The North Face for violating U.S. Patent No. 8,945,287 B2 to proceed in Colorado, according to a statement from Cocona.
The new space creates a home base for the brand’s employees in LA across sales, entertainment and influencer marketing, teams driving editorial and social and the key cities team.
Adidas AG reported net earnings rose 35 percent in the third quarter as sales improved 12 percent on a currency-neutral basis. The gains were driven by Greater China, up 28 percent, and North America, ahead 23 percent, driven by the Adidas brand.
Canadian Tire reported sales its FGL Sports segment were up 0.5 percent in the third quarter with same-store sales were up 0.4 percent. Same-store sales at Sport Chek were up 0.4 percent.
Lululemon Athletica Inc. said that Lee Holman, executive vice president and creative director, has resigned for personal reasons. Holman will remain with the company until December 31, 2017.
Amazon.com has begun lowering prices on goods sold by third-parties on its site with the additional savings marked by tag that reads “Discount provided by Amazon.”
David Maher, COO, Acushnet Holdings, stated, “It is encouraging that the U.S. retail market is weathering its structural correction fairly well. The general consensus from our trade partners is that they are faring better now than they did in 2016 or 2015 as there are fewer competitive doors and a greater percentage of their sales is generated from inline products.”
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