SGB Update Apparel
Cotton Inc. Promotes William Kimbrell to President and CEO
The 22-year veteran of Cotton Inc. was executive vice president and chief operating officer before his promotion to CEO and president in November.
CNBC/NRF: Retail Monitor December Retail Sales Jump; Sporting Goods Rebounds
Core Retail Sales, excluding restaurants, auto dealers and gas stations, rose 2.2 percent m/m in December and up 8.4 percent y/y. That compared with a decrease of 0.19 percent m/m and an increase of 1.4 percent y/y in November.
Urban Outfitters Posts Strong Holiday Led by Anthropologie and Free People Comps
Comparable Retail segment net sales increased 10 percent at Anthropologie, grew 9 percent at Free People, and decreased 4 percent at Urban Outfitters. Nuuly segment net sales increased 55 percent.
ThredUp Sees Easy Beat for Preliminary Q4 Results Against Latest Outlook
The company posted total fourth quarter revenue growth of 9 percent in the U.S. market year-over-year, compared to the company’s initial guidance of a decline of 6 percent to 2 percent for the period
Zumiez Inc. Cuts Guidance as Mid-Singles Holiday Comps Growth Falls Short
Based on results for the holiday period, the company anticipates fiscal 2024 fourth-quarter net sales come in between $275 million and $277 million, compared to its previous guidance range of $284 million to $288 million.
MeatEater, Inc. Appoints Kevin Eskridge as Chief Commercial Officer
Kevin Eskridge joins MeatEater from Brunt workwear and after an 11-year tenure at Under Armour. Scott Trepanier, who reports to Eskridge, also joined MeatEater after a 14-year career at Columbia Sportswear, most recently as VP marketing.
Foot Locker, Inc. Elects Two Retail Heavy Hitters to Board of Directors
Sonia Syngal most recently served as president and CEO of Gap, Inc., including overseeing Old Navy, Gap, Banana Republic, and Athleta. John Venhuizen has served for 12 years as president and CEO of Ace Hardware Corporation.
Authentic Brands Group Appoints New Company President
Over his two-decade career at Wynn Resorts, Matt Maddox reportedly played a pivotal role in the company’s global expansion. Nick Woodhouse will become executive vice chairman of Authentic.
Kohl’s to Close an E-Comm Fulfillment Center and 27 Stores
The stores identified for closure are underperforming and represent approximately 2.3 percent of the company’s more than 1,150 locations. The San Bernardino EFC is one of 15 EFCs and DCs in Kohl’s nationwide supply chain network.
Macy’s Reports Flattish QTD Comps for Q4 with Upside at First 50, E-Commerce
The retailer’s First 50 locations and luxury nameplates Bloomingdale’s and Bluemercury all continue their trend of positive comparable sales. Macy’s digital channel also achieved comparable sales growth for the period.
Nordstrom , Inc. Ups Fourth Quarter Guidance on Solid Holiday Comps
Nordstrom banner net sales increased 3.7 percent and comparable sales increased 6.5 percent, while Nordstrom Rack banner net sales increased 7.4 percent and comparable sales increased 4.3 percent.
Lululemon Now Beating Prior Expectations for the 2024 Fourth Quarter
The high-end yoga-focused retailer expects its net revenue to grow 11 percent to 12 percent for the fourth quarter year-over-year, or 6 percent to 7 percent growth, excluding the 53rd week of 2024.
Amer Sports Sees 2024 Sales Growth and Profit Margin at High End of Guide
The company expects full-year 2024 revenue growth to be at the high end of its previous guidance range of 16 percent to 17 percent growth despite “rising headwinds related to unfavorable foreign currency exchange rate fluctuations in the fourth quarter.”
Journeys Group Comps Jump 14 Percent in Holiday Selling Period
The company said sales trends at Journeys accelerated somewhat more than than management anticipated following a good start to the holiday season, led by strong full price selling in the weeks leading up to Christmas.
Fleet Feet Opens Third Locally-Owned Store in North Carolina
This is is the third Fleet Feet store owned by John and Elizabeth Dewey in North Carolina. They operate Fleet Feet stores in Greensboro and High Point, NC, respectively.
