SGB Update Apparel

Garmin Raises 2022 EPS Guidance On Improved Margin Outlook

Garmin Ltd. reported sales declined 4 percent in the third quarter ending September 24, dragged down by an 18 percent slide in the fitness segment. Second-quarter earnings topped Wall Street estimates and Garmin lifted its full-year EPS outlook on an improving margin outlook.

Puma Sees 17 Percent Currency-Neutral Growth In Q3

Puma reiterated its outlook for the year despite market volatility while reporting another quarterly record of sales and EBIT performance in the third quarter ending September 30.  Sales in the third quarter grew 16.9 percent on a currency-adjusted basis, led by growth of 18.8 percent in the Americas region and 18.5 percent in EMEA.  

Reima Names Head of Sales

Reima USA, Inc, the Finnish children’s activewear brand, hired Nicola McLeod as head of sales, effective immediately.

Adidas Ends Partnership With Kanye West

Adidas said on Tuesday that it is ending its partnership with Ye, formerly known as Kanye West, after the rapper made antisemitic remarks. Adidas said the move would have a short-term negative impact of up to ($246 million (€250 million) on net income in 2022 due to high seasonality in the fourth quarter.

Burlington Stores’ Debt Ratings Affirmed

S&P Global Ratings affirmed its debt ratings on Burlington Stores, Inc. despite the off-price retailer facing declining consumer discretionary spending among its core customer base while its value proposition, relative to traditional retailers, has narrowed amid industry-wide clearance activities.

Former Nike COO Joins Jigx’s Board

Jigx, the mobile application development SaaS based in Seattle, WA, announced that Eric Sprunk, former Nike COO, has been appointed to its Board of Directors. Sprunk is also an investor in the brand.

StockX Names Head Of Brand Protection

StockX hired Paul Foley as head of brand protection reporting to its Chief Supply Chain Officer, Sean McCartney. Foley’s role is to spearhead the company’s efforts to deliver value to the consumer and protect the integrity of the StockX marketplace.

REI To Open Store In Laguna Hills, CA

REI Co-op will open a new store in Laguna Hills in fall 2023. This is the retailer’s 31st location in California and 12th in the Los Angeles market.

Vista Outdoor Announces Departure Of CFO

Vista Outdoor, Inc. announced that after two and a half years in his role, Sudhanshu Priyadarshi, the company’s chief financial officer, has decided to pursue another opportunity and is leaving his position in November. The company also reported preliminary second-quarter results that showed sales expanding by 4 percent.

Lacoste Names Deputy CEO

Lacoste promoted Catherine Spindler to deputy chief executive officer. Spindle joined Lacoste as chief brand officer in 2019.