SGB Update Apparel
Zumiez Logs Q1 Loss As Sales Decline 17 Percent
Zumiez Inc. reported a loss in the first quarter ended April 29 as sales declined 17 percent. Results were in line with guidance with the weakness blamed on weak demand and the promotional environment. For the current quarter, another loss is expected on a sales decline of about 14 percent.
Lululemon Hikes Outlook As Q1 Blows Past Guidance
Lululemon Athletica, Inc., bucking a recent trend toward guidance cuts for most retailers, raised its outlook for the year after reporting first-quarter results that topped expectations.
The Buckle Posts 6.4 Percent Comp Sales Decline In May
The Buckle, Inc. posted a 6.4 percent comparable store net sales decline in May. Net sales for the 4-week fiscal month ended May 27 decreased 5.3 percent to $89.3 million from net sales of $94.3 million for the prior-year 4-week comparable period.
Under Armour Founder Sells $100 Million Stake To Merchant Bank Affiliate
Under Armour, Inc. reported that company Founder, Executive Chair and Brand Chief Kevin Plank slightly reduced his stake in the company, selling shares valued at approximately $100 million to funds managed by BDT Capital Partners. Plank said the sale is related to personal financing commitments.
Marolina Outdoor Adds VP Marketing For HUK And Nomad
Marolina Outdoor, Inc. the parent company of Huk Performance Fishing and Nomad Outdoor, tapped Joe Becker as the new VP of marketing for both brands.
Patagonia Sues Nordstrom Over Counterfeits
Patagonia filed a trademark infringement lawsuit in California against Nordstrom, accusing the company’s Nordstrom Rack chain is selling “thousands” of “obvious counterfeits” after their partnership ended and then refusing a recall on the products.
Lands’ End Narrows Q1 Loss On Sales Lift From Swim; Adds Key SVPs
Lands’ End, Inc. reported fiscal-first quarter net revenue increased 1.9 percent to $309.6 million. Net loss was $1.7 million, or a 5 cents loss per diluted share, in the quarter.
Bass Pro’s Parent’s Debt Ratings Upgraded By S&P
S&P Global Ratings raised its debt ratings on Great Outdoors Group, LLC due to the parent of Bass Pro and Cabela’s “consistent improvements in its sales and profitability” and improving debt leverage.
Duluth Trading Ekes Out Q1 Sales Increase As DTC Offsets Light Store Traffic
Duluth Trading Company reported fiscal first quarter net sales increased 0.7 percent to $123.8 million. Direct-to-consumer net sales increased 2.3 percent while Retail store net sales decreased 2.1 percent in the period.
Macy’s Cuts Outlook Despite Q1 Earnings Beat
Macy’s, Inc. reported first-quarter earnings topped analyst expectations on margin improvement, but sales missed Wall Street’s targets. The department store chain slashed its EPS and sales outlook for the year reported financial results for the first quarter of 2023 and updated its annual guidance as spending on discretionary categories weakened since late March.
Hestra North America Hires Sales And Marketing Director
Hestra hired Tim Hevers as director of sales and marketing for North America. Hevers comes to Hestra with 20-plus years of experience in the outdoor industry, including Sports Authority and, most recently, Vail Resorts.
Nordstrom Posts Q1 Loss On Double-Digit Sales Declines Across Stores And Digital
Nordstrom, Inc. reported total company net sales decreased 11.6 percent to $3.06 billion in the fiscal first quarter ended April 29. Digital sales decreased 17.4 percent. Nordstrom reported a first quarter net loss of $205 million, or a loss per diluted share of $1.27.
Martha Headwear Hires Sales and Marketing Manager; Looks To Europe For 2024
Martha Headwear has hired Martin Sundblad, a former executive at Reef and Fallen, as its sales and marketing manager. The company’s sales reps operate in NorCal, Central California, SoCal, the Rockies, Puerto Rico, Texas, the Mid-Atlantic, and Florida.
Rally House Adding Two New Ohio Locations
Rally House announced it is expanding its store presence in Ohio with two new locations in the Cleveland and Columbus markets.
Lids Opens Paris Saint-Germain Store In Miami
France’s football club Paris Saint-Germain (PSG) opened a new permanent storefront in Miami, FL, run and operated by Lids.
