Lululemon Sees Online Growth Accelerating In Second Half
Speaking at the William Blair 2017 Growth Stock Conference in San Francisco, Stuart Haselden, Lululemon’s COO and CFO, said that due to quick payback from extensive investments, growth in its online business is expected to bounce back in the second quarter “and accelerate in the second half.”
Nike To Axe 2 Percent Of Its Workforce In Restructuring
The restructuring will impact about 1,400 jobs globally and also includes a heightened focus on 12 key cities, the reduction of its geography structure to four regions from six and the creation of a Nike Direct organization to address the digital opportunity.
Sports Direct Enters U.S. Retailing With Bob’s/EMS Acquisition
The U.K.’s largest sporting goods retailer will enter U.S. retailing with 51 stores (21 EMS, 30 Bob’s) and is already planning on bringing some of its European mix to U.S. consumers.
BSN Sports Snaps Up Academy Sports In Utah
Continuing its consolidation of the team dealer channel, BSN Sports said it had acquired Academy Sports based in Salt Lake City, UT.
Unsecured Creditors Urge Rejection Of Payless Confirmation Plan
In urging a Missouri bankruptcy court to deny approval of Payless’ reorganization plan, the case’s unsecured creditors committee charged that Golden Gate Capital and Blum Capital Partners had “siphoned over $400 million out of the debtors” following the retailer’s 2012 IPO.
Canada Goose Sees ‘Tremendous’ White Space For Growth
In Canada Goose’s first investor conference since going public in March, Dani Reiss, president and CEO, railed against many of the “fake brands” in the active space while asserting Canada Goose remains in the early stages of growth.
Aisle Talk, Week Of June 5
Top headlines from the active lifestyle industry you may have missed this week.
Vail Resorts Wraps Up Strong Winter Season
Vail Resorts Inc. closed out the winter season with strong third-quarter results as strong visitations to recently acquired Whistler Blackcomb as well as Park City helped offset the impact of weaker snowfall in Colorado.
Camping World Will Seek To Undercut Competition With New Gander Stores
Speaking at Stephens 2017 Spring Investment Conference, Marcus Lemonis, chairman and CEO of Camping World, said the company is not only planning to reduce the amount of firearms in the reborn Gander Mountain stores but also vowed to underprice any nearby competition.
Duluth Holdings Reports 21.9 Percent Sales Increase For Q1
Both its men’s and women’s business saw positive momentum led by new products such as Bullpen Underwear, Ballroom Khakis and the No-Yank Tank.
Genesco Sees Major Store Closings In Coming Years
Speaking at the Baird Global Consumer, Technology & Services Conference, Bob Dennis, chairman, president and CEO of Genesco, the parent of Journeys and Lids, said he expects the company will be operating “significantly fewer” stores over the next five years due to continuing declines in mall traffic.
G-III Apparel’s Shares Soar On Raised Guidance
Shares of G-III Apparel Group jumped $3.03, or 15.2 percent, to $22.92 Tuesday after the outerwear and sportswear maker hiked its full-year guidance while reporting first-quarter earnings that beat estimates.
Canada Goose Q4 Benefits From DTC Expansion
DTC revenues nearly tripled in the quarter to Canadian$36.5 million (U.S.$27 mm) and drove an improvement of 950 basis points in gross margin.
Boot Barn Facing Headwinds From Oil-Dependent States
Boot Barn said same-store sales have improved in the first two months of the current quarter in states impacted by oil and other commodities. The company also announced the acquisition of the Country Outfitters e-commerce site.
Lululemon Q1 Boosted By Enlite Run Bra Launch
Shares of Lululemon climbed $5.62, or 11.6 percent, to $54.29 Friday in over-the-counter trading after the yoga-themed retailer reported the momentum regained in the first quarter continued through the second with the help of strong launches. Management raised its guidance for the full year.
