Retail Trade Groups Criticize Tariff War Escalation
A number of retail trade groups issued statements strongly criticizing the Trump administration’s threat to raise tariffs higher and order U.S. companies to exit China. The threats came Friday after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods.
Puma Joins Fashion Pact To Protect Climate, Biodiversity And Oceans
Puma joined a coalition of 32 companies to launch the global Fashion Pact to protect the world’s climate, biodiversity and oceans, which was presented ahead of the G7 meeting in Biarritz.
Goat And Bergdorf Goodman Partner On Exclusive Shopping Experience
Goat, the resale site for sneakers, announced its partnership with iconic New York retailer, Bergdorf Goodman. The two brands will enter an exclusive partnership, which includes a curated shopping experience at Goodman’s Men’s Store on 5th Avenue.
Nordstrom Launches Sustainable Style Online Category
Nordstrom launched Sustainable Style, an online shopping category for discovering products that are made from sustainably sourced materials, manufactured in factories that meet higher social or environmental standards or that give back.
Hibbett Sports Posts Q2 Loss On Charges
Hibbett Sports Inc. reported a loss in the second quarter although it came in slightly better than Wall Street’s targets. Comps increased 0.3 percent.
Foot Locker’s Q2 Comps Reach Low End Of Expectations
Foot Locker, Inc. reported adjusted earnings fell 18.2 percent in the second quarter ended August 3, coming in just below Wall Street’s targets. Same-store sales inched up 0.8 percent, below the retailer’s guidance. The outlook for the year was maintained.
Ross Stores’ Q2 Comps Increase 3 percent
Ross Stores Inc. reported earnings per share for the second quarter ended August 3, 2019 of $1.14, up from $1.04 last year. Net earnings grew to $413 million, compared to $389 million in the prior year. Sales rose 6 percent to $4.0 billion, with comparable-store sales up 3 percent on top of last year’s strongest quarterly comparison of 5 percent.
Stage Stores Reports 1.8 Percent Q2 Comparable Sales Increase
Stage Stores, Inc. reported that for the second quarter, comparable sales increased 1.8 percent. Net loss was $23.9 million, and adjusted EBITDA was a loss of $0.1 million.
North Face Survey Finds Growing Interest In Rock Climbing
The new study, conducted by Marketing & Research Resources on behalf of The North Face, reveals that 30 percent of people are interested in learning to rock climb and 40 percent plan to watch the sport in the 2020 summer Olympics.
Dick’s Delivers Best Quarterly Comp Gain Since 2016
Dick’s Sporting Goods raised its full-year guidance after reporting earnings and sales in the second-quarter that topped Wall Street expectations. Comps expanded 3.2 percent, the highest gain since 2016. Said Ed Stack, chairman and CEO. “Our key strategies and investments are working, our major headwinds are behind us and we’ve bent the curve on sales.”
Big 5 Appoints Colleen Birdnow Brown To Board
Big 5 Sporting Goods Corp. announced the appointment of Colleen Birdnow Brown to its board of directors, effective August 21, 2019.
L.L.Bean Partners To Deliver On-Site MBA Education To Employees
L.L.Bean and Husson University announced that a group of 22 L.L.Bean employees has begun pursuing their Master of Business Administration (MBA) degrees from Husson University through a workforce development initiative.
Globe International’s Sales Climb 8 Percent In Fiscal Year
Globe International Limited, based in Melbourne, reported continued growth in net sales for the year ended June 30 while profitability was just below the previous corresponding period mainly due to the impact on margins from the strengthening of the US dollar against the AUD.
TIA Finds 2.1 Percent Growth In Tennis In 2018
The total value of the U.S. tennis economy grew by 2.1 percent last year to a total of $6.19 billion, according to data from the Tennis Industry Association’s annual Economic Index, created to evaluate the total worth of the U.S. tennis industry to the overall economy.
Outdoor Retailer Combines Winter Shows In January
Outdoor Retailer, in concert with the Outdoor Industry Association (OIA), as well as key brands and advising retailers, announced it will not produce Winter Market, scheduled for November 5-7, 2019. The show will be united with the Snow Show, creating the Outdoor + Snow Show, scheduled for January 29-31, 2020 at the Colorado Convention Center in Denver, bringing the entirety of the community together.
