SGB Update Apparel
SidelineSwap Secures Investment From eBay
SidelineSwap, the online marketplace for new and used sporting goods, announced a strategic investment from eBay Ventures, the corporate venture arm of eBay, Inc., and follows an investment in November 2022 from DSG Ventures, the corporate venture arm of Dick’s Sporting Goods.
REI Chicago Employees Vote To Unionize
The Retail, Wholesale and Department Store Union (RWDSU), announced Thursday that, by an overwhelming majority vote of nearly 84 percent, workers at REI, Inc. in Chicago, IL, voted to join the RWDSU, making this the fourth unionized REI store in the country.
NSGA’s 2023 Participation Report Sees 7 Of 10 Segments Showing Growth
Analysis of the National Sporting Goods Association’s (NSGA) Sports Participation in the U.S. report revealed that seven segments increased in participation in 2022, two segments remained relatively flat and one segment decreased compared to 2021.
Delta Apparel Logs Loss On Mass Channel Destocking
Delta Apparel reported a loss in the fiscal second quarter ended April 1 as elevated inventory levels at the mass channel continue to impact its Delta Direct business. Sales declined 16.2 percent as a gain of over 16 percent at its Salt Life brand was offset by a 20.8 percent drop at its Delta Group segment.
Wilson Sporting Goods Opens First California Retail Location
Wilson Sporting Goods Co. unveiled its first retail store in California, located within the well-known Third Street Promenade shopping district in Santa Monica. Wilson has two stores in Chicago and three in Manhattan, including their SoHo flagship and stores on the Upper East Side and Columbus Circle.
Wrangler And Lee Parent Sees U.S. Sales Growth Offset By China Declines
Kontoor Brands, Inc., led by Wrangler and Lee brands divested by VF Corp., saw strength in domestic wholesale and direct-to-consumer (DTC) more than offset by decreases in International wholesale, primarily driven by the continued impacts of COVID-policy changes in China.
The Buckle Posts 10 Percent Comp Store Sales Decline For April
The Buckle, Inc. reported that comparable store net sales, for stores open at least one year, for the 4-week period ended April 29 decreased 10.2 percent from comparable store net sales for the 4-week period ended April 30, 2022.
Revolve Group Reports Lower Q1 Profits On Tighter Margins, Lower Sales
Revolve Group, Inc. reported net sales were $279.6 million in the first quarter, a year-over-year decrease of 1 percent against a very difficult prior-year comparison. Net income was $14.2 million, or 19 cents per diluted share, for the quarter, a year-over-year decrease of 37 percent.
Gildan Activewear Posts Sales And Profit Declines In Q1 But Reconfirms Outlook
Gildan Activewear Inc. said net sales for the first quarter ended April 2 were in line with expectations at $703 million, down 9 percent, versus prior-year quarter sales.
Compass Diversified Raises FY Guidance On Above-Plan First Quarter
Compass Diversified (CODI) raised its earnings for the year due to a better-than-expected first-quarter performance. Sales on an adjusted basis in its branded consumer segment, which includes Boa, 5.11 and Primaloft, were up 2 percent in the quarter.
Vista Outdoor Posts Heavy Loss On Impairment Charge
Vista Outdoor reported a net loss of $294 million after taking an impairment charge of $374 million. Adjusted earnings per share were down 47.1 percent on a sales decline of 8 percent and lower gross margins. Vista forecast sales for the current year to decline by about 6.5 percent.
Norrøna Hires New U.S. Sales Manager
Norrøna hired Andi Malboeuf as the U.S. sales manager. She comes to the role from QuietKat, an e-bike company owned by Vista Outdoors, where she was the national sales manager.
Brooks Posts Strong Double-Digit Q1 Global Growth Despite EMEA Decline
Brooks Running carried momentum into the first quarter of 2023 with 20 percent year-over-year global revenue growth, including a record 32 percent increase in the Europe, Middle East, and Africa (EMEA) region.
Farfetch Launches Reebok European Effort Through New NGG++ Division
Farfetch has commercially launched its European partnership with Reebok, following its deal announced in February 2022 with new Reebok owner Authentic Brands Group. The partnership is being managed by New Guards Group (NGG), a wholly-owned Farfetch company.
OR, Surf Expo Parent Sees Strong Double-Digit Revenue Growth In First Quarter
Emerald Holding, Inc., the owner and producer of the Outdoor Retailer and Surf Expo trade shows, reported that first quarter 2023 revenues were $122.3 million, an increase of 24.2 percent versus the first quarter 2022.
