SGB Update Apparel
TJX Sees Modest Q3 Sales Decline Against Tough Comparisons
The TJX Companies, Inc. reported sales for the third quarter of Fiscal 2023 were $12.2 billion, a decrease of 3 percent versus the third quarter of Fiscal 2022. U.S. comp store sales decreased by 2 percent versus a 16 percent increase in U.S. open-only comp store sales in the third quarter of Fiscal 2022.
TJX Names CFO
TJX Cos. Inc. announced that John Klinger has been promoted to executive vice president, chief financial officer, effective January 29, 2023, the beginning of TJX’s fiscal year.
On Again Lifts Guidance Following Strong Q3
On Holding AG raised its full-year outlook again after reporting earnings in the third quarter ended September 30 grew 20.5 percent on an adjusted basis on a 50 percent sales gain.
Katie O’Donohue Re-Joins SGB Media As Associate Publisher
SGB Media, LLC has announced that Katie O’Donohue has joined the company as Associate Publisher, effective immediately.
Nike Announces 11 Percent Increase In Quarterly Dividend
Nike Inc. announced that its Board of Directors approved a quarterly cash dividend of 34 cents per share on the company’s outstanding Class A and Class B Common Stock.
Snow Peak Opens First Shop-in-Shop In Costa Mesa, CA
Snow Peak, the Japanese outdoor lifestyle brand, opened its first shop-in-shop in the U.S., partnering with Costa Mesa, CA-based retailer Seed People’s Market, the outdoor retailer representing over 500 eco-conscious brands.
Hurley To Open 10 Stores In 2023
Hurley expanded its U.S. store count to 40 and its global footprint to 50 since being acquired in 2019 by Bluestar Alliance, LLC from Nike, Inc. In 2023, Hurley said it plans to add another ten stores worldwide.
Dick’s SG Supply Chain Chief Retires
Dick’s Sporting Goods said in a regulatory filing that Donald J. Germano, EVP, stores and supply chain, retired from his position.
Nike Sued By Odell Beckham, Jr.
NFL wide receiver Odell Beckham, Jr. is suing Nike for refusing to pay him royalties and violating their contract, according to the Portland Business Journal.
Academy Sports To Open Two Stores In West Virginia And Florida
Academy Sports + Outdoors is opening new stores in Barboursville, WV and Tampa Bay, FL, with grand opening events held from November 18 to November 20.
Fila Sees Higher Sales But Lower Profits For 2022
Fila Holdings Corp.’s earnings were down in the third quarter on lower margins. Sales grew modestly as declines for the Fila brand, including a sharp drop in the U.S., were offset by healthy gains for Acushnet, the parent of Titleist and Footjoy. Fila raised its sales outlook for the year but lowered its earnings guidance.
Dick’s Sporting Goods Hires Private Label Chief
Dick’s Sporting Goods hired Chad Kessler as EVP of vertical brands, its private label business. He will lead strategy, management and execution for the retailer’s vertical brands, including soft lines Calia, DSG and Alpine as well as the company’s hardline businesses.
Fleet Feet Roanoke Owners Retire After 20 Years, Successor Named
The retirement of Blaine and Robin Lewis, Fleet Feet Roanoke franchise owners since 2003, was announced by Fleet Feet corporate. General Manager Matt Thompson will purchase the store with an anticipated ownership transaction finalized in December.
Nike To Open Web3 Marketplace
Nike, Inc. will open an online store and trading platform called SWOOSH for virtual sneakers. Nike will release virtual products on the Web3-enabled platform where users can learn, collect and co-create virtual products.
Adidas’ Senior Unsecured Notes Offering Rated A2 By Moody’s
Moody’s Investors Service assigned an A2 rating to Adidas AG’s proposed €1.0 billion senior unsecured notes, split into two tranches maturing in 2025 and 2029. Proceeds from the notes will be used for general corporate purposes, including the refinancing of the company’s €500 million convertible bond due in September 2023.
