True Fit Hires Chief Revenue Officer; Names Global CMO From Within
True Fit hired former Snap, Inc. and Bazaarvoice executive Rob Weaver as its chief revenue officer. The fit personalization platform also promoted Sarah Curran, managing director of the EMEA, to global chief marketing officer.
REI To Open In Sarasota This Fall
REI Co-op will open a store in Sarasota this Fall 2023 in the University Town Center, its eighth store in Florida.
Stitch Fix Posts 20 Percent Sales Decline In Fiscal Q2; CFO To Exit
Stitch Fix, Inc. reported a loss of $65.6 million in the fiscal second quarter ended January 28 as sales declined 20 percent.
A.k.a. Brands Sees Q4 Sales Fall 18 Percent; CEO To Take Medical Leave
A.k.a. Brands Holding Corp, the parent of Princess Polly, Culture Kings, mnml and Petal & Pup., reported sales decreased 18.3 percent in the fourth quarter, to $149.1 million, compared to $182.4 million in the fourth quarter of 2021. Currency-neutral sales were down 13 percent.
Report: Shein Exploring IPO
Shein, the Chinese-based online fashion retailer, intends to raise about $2 billion in a new funding round in March and is aiming for a U.S. initial public offering listing in the second half of this year.
Report: U.S. Retail Sales Climb 6.9 Percent In February
According to Mastercard SpendingPulse, U.S. retail sales excluding automotive were up 6.9 percent year-over-year (YOY) in February.
NRF Opposes Corporate Tax Rate Increase In Biden Admin Budget
The National Retail Federation has issued the following statement from SVP of Government Relations David French in response to President Biden’s proposed budget for fiscal year 2024.
Allbirds Hires New CFO
Allbirds hired Annie Mitchell as CFO, effective April 24. She succeeds Mike Bufano, who is stepping down and will remain with the company through mid-May to ensure a smooth transition.
Yue Yuen Factory Revenue Declines Moderate In February; China Retail Worsens
Yue Yuen Industrial (Holdings) Limited net consolidated operating revenue for February 2023 came in at $603.8 million, representing a 6.9 percent decline versus the year-ago February period.
The Buckle Delivers Modest Q4 Profit Growth On 4.6 Percent Comp Sales Gain
The Buckle reported earnings improved 4.6 percent in the fourth quarter ended January 28 as sales expanded 5.5 percent.
Allbirds Launches Transformation Plan Following Q4 Shortfall
Allbirds, Inc. reported a net loss in the fourth quarter ended December 31 as sales declined 13 percent. Earnings and sales missed guidance and the eco-friendly footwear announced a new transformation plan to reignite growth and improve its cost structure.
Tilly’s Hints At Improving Sales Picture After Tough Q4 And Weak Start To 2023
Tilly’s, Inc. saw total net sales decline 11.8 percent to $180.4 million for the fourth quarter of fiscal 2022 ended January 28, compared to $204.5 million in the prior-year comparable quarter. Total comp store net sales, including both physical stores and e-commerce, decreased by 13.7 percent for the period.
Zumiez Sees Strong Double-Digit Sales Declines Continuing Into 2023
Zumiez expects net sales for the three months ending April 29 to be in the range of $178 million to $184 million, which would indicated another strong double-digit decline from the $221 million in sales in the year-ago first quarter. Earnings (Loss) per share are expected to be between a loss of 85 cents and a loss of 95 cents.
JD Sports Appoints Non-Executive Director
JD Sports Fashion Plc appointed Ian Dyson as a non-executive director, effective March 9, 2023. He will join the audit and risk committee and the remuneration committee.
Genesco Posts Flat Q4 Sales On Journeys Dip, FX Impact, Weaker Wholesale Sales
Genesco, Inc. reported earnings on an adjusted basis fell 24.4 percent in the fourth quarter due to the return of a more normalized promotional environment as well as increased freight and warehouse costs. Same-store sales were up 5 percent as double-digit growth at Schuh and Johnson & Murphy offset a 1 percent dip at Journeys.
