SGB Update Apparel
Clarus Bangs Out 57 Percent Q2 Revenue Gain
Clarus Corp. reported profits jumped 105 percent for the second quarter ended June 30. Sales grew 57 percent, boosted by the acquisitions of Rhino-Rack and Maxtrax as well as 22 percent organic sales growth. Sales of the Outdoor segment, led by Black Diamond, increased 17 percent. The company maintained its full-year guidance.
JD Sports Sells Footasylum To Germany’s Aurelius
JD Sports sold Footasylum to German private equity firm Aurelius Group for an enterprise value of about £37.5 million ($38 million), less than the £86 million pounds ($102.9 million) price it paid for the chain in 2019.
Nordstrom Announces Senior Merchandising Promotion
Nordstrom, Inc. promoted Sam Lobban to executive vice president and general merchandise manager for women’s and men’s apparel and all designer categories supporting product strategy and vision.
WSL And Boardriders Cancel 2022 Quiksilver/ROXY Pro France Challenger Series
The World Surf League (WSL) and Boardriders announced the cancellation of the 2022 Quiksilver/ROXY Pro France. Despite continued efforts to maintain the event, the WSL and Boardriders have agreed on the decision to cancel this year’s competition in Hossegor, France.
Compass Diversified Terminates Agreement To Sell Advanced Circuits
Compass Diversified (CODI) announced that its majority-owned subsidiary, Advanced Circuits, terminated its previously announced agreement and plan of merger, dated October 13, 2021, pursuant to which Advanced Circuits was to be sold to Tempo Automation, Inc.
Inflation Expected To Impact Back-To-School Spending
Numerator’s 2022 Back-To-School Survey of nearly 2,400 households found that 89 percent of respondents expect inflation to impact their back-to-school spending and increase cost-saving measures, including buying items on sale, reusing old supplie, and switching to cheaper brands.
Under Armour To Pay $67 Million To Settle UCLA Lawsuit
Under Armour has agreed to pay UCLA nearly $67.5 million to settle the school’s lawsuit with the company, according to a report in the Los Angeles Times. UCLA was seeking over $200 million in damages in its original lawsuit filed in August 2020 over Under Armour’s terminated UCLA contract.
Second Rally House Store Opens In Omaha Market
Rally House announced opening its second location in the Omaha market, Rally House Metro Crossing. The new store is in Council Bluffs, IA.
Newell Brands’ Outdoor & Recreation Segment Sees 2.5 Percent Q2 Core Sales Growth
Newell Brands reported sales in its Outdoor & Recreation segment reached $427 million compared with $453 million in the prior year period, down 5.7 percent. The declines reflect core sales growth of 2.5 percent offset by exits from low margin categories and unfavorable foreign exchange.
Adidas Won’t Renew NHL Jersey Deal After 2023/24 Season
Adidas will not return as the NHL’s official supplier of uniforms and apparel when its agreement expires after the 2023/24 season.
Deckers Brands Lifts FY Outlook On Blowout Q1 For Hoka
Deckers Brands slightly raised its EPS guidance for its fiscal year after reporting earnings and sales in the fiscal first quarter ended June 30 topped Wall Street’s targets. The gains were led by an outperformance by Hoka, with sales up 54.9 percent year-over-year.
VF Corp. Lowers FY Outlook Due To Currency Impact
VF Corp. reported sales on a currency-neutral basis rose 7 percent in its fiscal first quarter ended July 2 as 37 percent growth at The North Face offsetting a 4 percent slide at Vans. Earnings and sales were below analyst targets, and VF lowered its guidance for the year to reflect ongoing negative impacts from foreign currency fluctuations.
NPD Report: Prime Day Promotions Boosted Retail Revenue 14 Percent But Unit Sales Still Fell
The week of Amazon’s Prime Day and other big retailer promotions showed that consumers continue to spend but are purchasing less, according to The NPD Group. U.S. sales revenue from discretionary general merchandise for the week ending July 16, 2022, was 14 percent higher than last year’s non-promotional week, and unit sales were 1 percent lower.
Cotopaxi Hires Chief People And Impact Officer
Cotopaxi hired Grace Zuncic as its first chief people and impact officer.
Columbia Sportswear Reduces FY Guidance
Columbia Sportswear Company reported second-quarter earnings that topped Wall Street’s estimate but reduced its sale and EPS guidance for the year due to growing economic uncertainty. Chairman, President and Chief Executive Officer Tim Boyle said, “As 2022 has progressed, it is increasingly clear that the operating environment has become more challenging.”
