Nordstrom Raises Revenue Forecast As Sales Revive
Nordstrom Inc. raised its guidance for the year after reporting second-quarter results that topped expectations. Core categories of shoes, apparel and accessories experienced the largest improvement in sales trends relative to the first quarter. In addition, sales in active, home and designer categories continued to grow versus 2019.
New Balance Launches New Balance Renewed
New Balance has launched New Balance Renewed, which aims to extend the life of imperfect or returned items, helping to keep them out of landfills.
PGA Golf Exhibitions Provide Update On 2022 In-Person PGA Show
PGA Golf Exhibitions, in partnership with the PGA of America, is moving forward with previously announced PGA Show initiatives for its 69th annual flagship event, January 25-28, 2022, in Orlando, FL.
SFIA Sends Letter To Administration To Relaunch Trade Talks With China
SFIA announced it had sent a letter to U.S. Trade Representative Tai and Treasury Secretary Yellen urging the Administration to relaunch trade talks with China and drop some of the Section 301 Tariffs.
Frasers Group Makes Key Promotions To Leadership Team
The Frasers Group, the parent of U.K.-based Sports Direct, promoted Sean Nevitt to chief commercial officer and David Al-Mudallal to chief operating officer to support the proposed transition of the CEO role to Michael Murray.
Hibbett Opens Second Raleigh Location
Hibbett announced the opening of its second Raleigh Hibbett Sports store. The new store is located at 5900 Poyner Anchor Lane in Raleigh, NC.
Swiss Running Brand On Files For IPO
On, the Swiss running brand, has filed for an initial public offering in the U.S.
Ecco Appoints CEO And Board Members
Ecco has appointed Panos Mytaros as its new chief executive officer, replacing Steen Borgholm, who has stepped down by mutual agreement.
Under Armour Joins Baltimore FIFA World Cup Host City
Under Armour has joined 15 other bid partners in Baltimore’s campaign to be a host city for the 2026 FIFA World Cup.
Japanese Sneaker Platform Soda Raises $56.4M
Soda, which runs Japan’s SnkrDunksneaker selling platform, raised $56.4 million in a financing round led by SoftBank Ventures Asia, according to TechCrunch.
Under Armour Enters Into Exchange Agreements With Convertible Senior Noteholders
Under Armour, Inc. announced that it has entered into exchange agreements with certain holders of its 1.50 percent Convertible Senior Notes due 2024. The noteholders have agreed to exchange approximately $169.1 million in aggregate principal amount of Under Armour’s outstanding 2024 Notes for cash and shares of Under Armour’s Class C common stock.
The Buckle’s Profits Climb 48 Percent In Second Quarter
The Buckle, Inc. announced that net income climbed 48.1 percent for the fiscal quarter ended July 31, to $51.4 million, or $1.04 per share, from $34.7 million, or 71 cents, a year ago.. Sales gained 36.6 percent.
Foot Locker’s Q2 Blows Past Wall Street’s Guidance
Foot Locker, Inc. reported earnings and sales in the second quarter ended July 31 came in well above Wall Street’s targets. Sales increased 9.5 percent year-over-year and 28.2 percent compared with the second quarter of 2019. Said Dick Johnson, chairman and CEO, “This quarter reflects strong results in our women’s and kids’ footwear business along with broad demand for our apparel and accessories offerings, which, combined with more limited promotional activity, led to the outstanding top and bottom-line results.”
Report: Amazon Plans To Open Smaller Department Store Concept
Amazon is planning to open several large retail locations in the U.S. that are similar to department stores, according to a report in the Wall Street Journal.
Ross Stores Sees Q2 Sales Expand 21 Percent Against 2019
Ross Stores, Inc. reported earnings per share for the 13 weeks ended July 31, 2021 grew 22 percent to $1.39 on net income of $494 million. This compares to $1.14 per share on net earnings of $413 million for the 13 weeks ended August 3, 2019. Sales rose 21 percent to $4.8 billion, with comparable-store sales up a robust 15 percent.
