In her first quarterly call since returning to Duluth Holdings, Inc. as president and CEO, Stephanie Pugliese said the company is “taking decisive actions to get this great company and unique and powerful brand back on the path to profitability and growth,” including rationalizing SKUs, reducing costs and complexity across multiple areas and exploring store closings while investing in innovation.
Category: Apparel
Zumiez’s Q1 Tops Guidance, Comps Climb 5.5 Percent
Zumiez Inc. reduced its net loss in the first quarter ended May 3 as same-store sales improved 5.5 percent on strong full-price selling. Sales topped Zumiez’s forecast for the quarter while earnings were in line.
Lululemon Axes FY EPS Guidance Despite Q1 Beat
The company reported earnings and sales exceeded its guidance in the fiscal first quarter ended May 4, but still trimmed its EPS outlook for the year and provided guidance for the second quarter that was well below analysts’ consensus target.
Report: StockX Puts More Protections in Place to Stymie Counterfeiters
Study findings highlight the growing interest among consumers in a wider variety of footwear brands and an increased demand for affordable, general release sneakers. This marks a significant shift; in previous years, the most counterfeited products were typically exclusive, rare, and expensive releases.
Study: Why Retailers Risk Loyalty with Tariff-Based Price Hikes
While most retailers won’t be able to avoid raising prices altogether, unilateral price increases are a surefire way to lose customer confidence and trust. First Insight believes there are more informed ways of approaching pricing strategies and offsetting the burden on customers.
The Buckle’s May Comps Jump on Double-Digit Women’s Growth
Buckle said men’s sales increased 1.0 percent with overall price points on the men’s side of the business up about 2.5 percent. Women’s sales jumped 17.5 percent with overall price points increasing about 4.0 percent.
Adidas Gets Debt Upgrade by S&P on Improving Performance
S&P Global Ratings raised its debt ratings on Adidas due to the brand’s stronger-than-expected deleveraging trend, mainly driven by the group’s sustained momentum in its underlying operating performance and cash flow generation improvements versus previous forecasts.
New Era Cap Inks New On-Field Partnership With Major League Soccer
The agreement makes New Era Cap the official on-field cap of the MLS, with rights to produce and distribute headwear and apparel for all 30 MLS clubs in the U.S. and Canada.
EXEC: Sports Direct Parent Votes Upend XXL ASA General Meeting; CEO Freddy Sobin Ousted
Frasers Group plc, who was represented with 28,776,450 shares and votes, equal to approximately 96.5 percent of the shares and votes represented at the general meeting, may be responsible for moving the managing director of Frasers Group IBML into the XXL Interim CEO role.
Champion Launching Tom Aspinall Collection; Signs UFC HW Champ to Long-Term Partnership
The partnership kicks off with the launch of Aspinall’s debut capsule, titled “Heavyweight Champion,” developed collaboratively, which taps into Columbia’s 100-plus-year history of sportswear heritage. Champion is also developing a line of performance training apparel and equipment, which is due to launch later this year.
PVH Corp. Cuts Annual EPS Outlook
The parent of Calvin Klein and Tommy Hilfiger reported a low-single-digit revenue gain in the first quarter and saw adjusted earnings exceed guidance, but earnings guidance for the year was reduced due to broader weakening sales trends.
Lands’ End Maintains FY Guidance as Management Repositions Business, Seeks Buyer
The company posted a low-single-digit increase in Gross Merchandise Value (GMV) for the fiscal first quarter when excluding divested categories that moved to licensees while also reporting a high-single-digit decline in net revenue for the period.
Duluth Holdings Widens Q1 Loss, Plans Further Restructuring Moves
The casual apparel and workwear brand widened its loss in the first quarter ended May 4 as sales dropped 12.0 percent. Returning CEO Stephanie Pugliese stated in a media release that she is conducting an “in-depth review” of the organization to simplify its operations, focusing on brand awareness, solution-based products, product innovation, and customer service.
Canada Goose Holdings Inc. to Pay $30 Million Over Vendor Contract Dispute
An arbitrator has awarded financial compensation to a former Canada Goose vendor in connection with a previously announced commercial dispute.
Costco May Comps Grow 6.0 Percent x-Gas; E-Commerce Up 12 Percent
Excluding gas, Costco’s same-store sales in the U.S. were up 5.5 percent in the U.S. and 6.0 percent overall. E-commerce sales advanced 12 percent.
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