SGB Update Apparel
Shein Acquires Missguided Brand from Frasers
Frasers, the U.K.-based parent of Sports Direct, reported it plans to sell the intellectual property and trademarks of the Missguided online women’s fashion retailer to Shein.
Rhone Secures New Investors
Rhone, the men’s activewear and lifestyle brand, formed a new consortium of investors, including Blackstone executive and ex-football star Tim Tebow, to buy out the approximately 29 percent stake in the company owned by private equity firm L Catterton.
MEC Appoints New CEO
Canadian outdoor gear retailer MEC promoted COO Peter Hlynsky to CEO, succeeding Eric Claus, who led the retailer during the filing for creditor protection and sale to U.S.-based private investment firm Kingswood Capital Management.
New Balance Appoints Director, Global Apparel Planning
New Balance promoted Stephen Butch to director of global apparel planning, effective immediately. He has worked for New Balance since 1995, starting as a sales associate in the brand’s Boston factory outlet store.
Authentic Expands Deal With Shein for Forever 21
Authentic Brands Group signed a long-term agreement with the Chinese fast-fashion giant Shein to produce a co-branded clothing line with Forever 21. The collaboration follows Shein’s move in August to acquire about a third of Forever 21′s operator, Sparc Group, with plans to explore new ways to reach customers.
Report: Golf Apparel Sales Decline for Third Straight Month in September
Galk Datatech is reporting that golf apparel sales were down in on-and off-course specialty stores for the third consecutive month in September, falling 3.7 percent after declining 3.5 percent in August and a 3.6 percent decrease in July.
Fleet Feet Acquires Ultra Running Company
Fleet Feet expands its retail footprint further with the acquisition of Charlotte, NC-based Ultra Running Company. The store was rebranded to Fleet Feet Charlotte–Myers Park.
Columbia Sportswear Expects Sharp Decline in Q4 as Pull-Ahead Orders Boost Q3 Sales
Net sales are now expected to increase 0.5 percent to 2.0 percent for 2023, down from the previous range of 2.0 percent to 3.5 percent growth. Fourth quarter net sales are expected to decline 10 percent to 5 percent and the company is also forecasting a low-double-digit percent decline in wholesale net sales in first half 2024.
On Brand Opens Miami Store
Swiss-running brand On opened a store in Miami, marking the company’s continued retail expansion and fifth store in the U.S.
Moody’s Confirms Vista Outdoor’s Debt Ratings On Ammo Business Sale
Moody’s Investors Service confirmed the debt ratings of Vista Outdoor, Inc. following the proposed acquisition of the company’s Sporting Products business by the Czechoslovak Group for $1.91 billion.
Tractor Supply Lowers Guidance On Below-Plan Q3 Revenues
Tractor Supply Company reported earnings improved 8.9 percent in the third quarter but sales came in softer than expected and the rural lifestyle retailer slightly lowered its outlook for the year. Same-store sales were off 0.4 percent due to declines in demand for seasonal goods and big-ticket items.
Krimson Klover Adds New Midwest Territory Reps
Jessica and Adam Guile of Phenix Project LLC will cover the Midwest-Great Lakes region.
Solo Brands CFO To Leave in December
Solo Brands announced that Somer Webb, its CFO, has notified the company of her intent to pursue other opportunities. She will remain with the company until December 10. The company also reaffirmed its guidance for fiscal year 2023.
Grassroots Sees a “Return to Earth” for Specialty Heading into Fall Connect Show
Heading into the upcoming Grassroots Connect in November, GOA retailers reported a flattening of overall sales in the trailing 12 months prior to September, in what the specialty retailer organization is calling “an expected return to Earth.”
Johnnie-O Names 25-Year Patagonia Exec as CEO
Johnnie-O named John Collins as CEO and Board member, succeeding Dave Gatto, who, the company reported, has “played an instrumental role in Johnnie-O’s journey as CEO and Board director since January 2015.” The company also shared that Gatto would retire this year after a “remarkable career, including the nearly nine years he spent building the Johnnie-O brand and positioning it for future expansion.”
