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.
Puma Appoints New GM For Sportstyle Business Unit
Puma hired Lionel Telega as general manager of the brand’s Sportstyle business effective immediately. Telega has been with the company since 2004 and, most recently, was the global director of go-to-market.
Birkenstock Hires CFO
Birkenstock named Dr. Erik Massmann as chief financial officer, effective immediately. He succeeds Rob Hull, who has taken on new responsibilities outside the company.
NRF Sees Imports Climbing Slowly But Still Trailing 2022 Levels Through Mid-Summer
Import cargo volume at the nation’s major container ports is expected to begin slowly climbing again this month after February saw one of the lowest levels since the beginning of the pandemic, according to the recent Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Adidas Extends CFO Contract; Two Global Leaders Exit The Company
The Supervisory Board of Adidas AG has extended Harm Ohlmeyer’s appointment as chief financial officer for another three years until the beginning of 2028. Adidas also announced that Arthur Hoeld would replace Roland Auschel with responsibility for global sales and the departure of Brian Grevy, who was responsible for global brands.
Adidas Warns Of Annual Loss And Cuts Dividend After Kanye West Split
Adidas said on Wednesday it would slash its dividend for 2023 and again warned it could suffer its first annual loss in 30 years as it deals with the fallout from its decision to split with rapper and fashion designer Kanye West. The company posted a major loss in the fourth quarter.
