SGB Update Apparel
Pou Sheng Issues Profit Warning
Pou Sheng, the retail subsidiary of Yue Yuen, forecasted a decline in year-over-year net profits due to weak consumer sentiment in China associated with COVID-19 lockdowns and lower store traffic in cities where it operates.
EBay Acquires TCGplayer
EBay, Inc. completed its acquisition of TCGplayer, a collectible card game marketplace, for a deal value of up to approximately $295 million.
Nike Opens Store In Harlem
Nike opened a Nike Unite store in Harlem. Located on 125th Street, this is Nike’s northernmost Manhattan location.
Ross Stores To Open 40 Locations
Ross Stores, Inc. recently opened twenty-eight Ross Dress for Less and twelve dd’s Discount stores across 21 states in September and October. The new stores complete the company’s growth plans for fiscal 2022 with the addition of 99 new stores.
Newell Brands’ Outdoor Segment’s Q3 Sales Slump 26 Percent
Newell Brands reported sales in its Outdoor & Recreation segment fell 26.1 percent in the third quarter ended September 30. The decrease reflects a core sales decline of 18.4 percent, as well as the impact of exits from certain low-margin categories and unfavorable foreign exchange.
Belk Names President And Chief Merchandising Officer
Belk hired MaryAnne Morin as president and chief merchandising officer. Morin will lead the company’s merchandising, planning and private brands teams.
Free Fly Apparel Hires Sales Director
Free Fly Apparel, the manufacturer of performance apparel made from bamboo, hired Justin Julian as sales director overseeing the company’s national wholesale business, managing its independent reps and growing the brand in the Western region working with key accounts.
Columbia Sportswear Q3 EPS Tops Wall Street’s Targets
Columbia Sportswear reported earnings surpassed Wall Street’s consensus target in the third quarter ending September 30 as sales grew 22 percent on a constant-currency basis. The company slightly lowered its operating earnings outlook for the year due to margin pressures but maintained its sales guidance.
Fanatics Hires Global HR Executive And Organizational Leader
Fanatics hired Orlando Ashford for the newly created chief people officer (CPO) role at Fanatics Holdings working closely with the company’s three businesses—commerce, collectibles and betting and gaming while managing global human resources.
Mitchell & Ness, Fanatics Expand Ownership Group
Fanatics expanded the ownership group of Mitchell & Ness. The ownership group now includes LeBron James, Kevin Durant, Chris Paul, CJ McCollum, Devin Booker, James Harden, Joel Embiid, Odell Beckham Jr., Kevin Hart, Rich Paul, Rich Kleiman, Scooter Braun, and Steve Stoute.
Vertical Brands Names COO
Vertical Brands, the parent of CB Sports Apparel and Neve Designs, has hired Christopher Pete as COO.
Moncler’s Q3 Sales Climb 12 Percent Currency-Neutral
Moncler S.p.A. reported sales in the third quarter were €638.3 million, up 12 percent currency-neutral compared with the same period of 2021 and 50 percent currency-neutral compared with the same period of 2019.
Kanye West Is Escorted From Skechers Offices
Skechers USA said late Wednesday that Kanye West, also known as Ye, had come to its corporate offices in Los Angeles “unannounced and uninvited” and was subsequently escorted from the building where he had been trying to film.
VF Corp. Trims EPS Outlook On FX And Promotional Headwinds
VF Corp. reported results in its fiscal second quarter ending October 1 that came in line with Wall Street targets but lowered its EPS guidance for the full year due to foreign currency fluctuations as well as heightened inventory levels and promotional activity in the marketplace.
Foot Locker And Gap Pull Yeezy Product From Stores
Foot Locker and Gap announced they were pulling Yeezy products from their stores following Adidas’ move on Tuesday to end its partnership with Ye, the artist formerly known as Kanye West, following a series of antisemitic remarks he made recently across multiple forums.
