SGB Update Apparel
NRF Survey: Holiday Spending To Be Even With 2020 Levels
Consumers plan to spend $997.73 on gifts, holiday items and other non-gift purchases for themselves and their families this year, on par with consumer spending last year, per the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics.
VF Corp. Reaffirms Outlook Despite Slight Quarterly Miss
VF Corp. reported revenue climbed 23 percent in its second quarter ended October 2, led by a 31 percent gain at The North Face. Vans sales grew 8 percent and Dickies grew 21 percent. Companywide earnings and sales were slightly below Wall Street’s targets but VF reaffirmed its full-year earnings outlook.
Adobe Forecasts Record Online Sales, Continued Supply Chain Issues
Adobe expects U.S. holiday sales online to hit $207 billion from November 1 to December 31, setting a record high. This represents a 10 percent increase from 2020, a strong growth rate after a year where the pandemic made e-commerce an essential service. On the negative side, a weakened supply chain is leading to a hike in out-of-stocks and driving up online prices.
361 Degrees Sees Double-Digit Growth In Third Quarter
The Chinese apparel and sneaker company 361 Degrees reported retail sales of its core branded products for the third quarter of 2021 recorded low-teens growth compared to the same period of 2020.
Topgolf Starts Construction Of New Venue Serving Durham And Raleigh
Topgolf Entertainment Group announced it has officially started the development of a new venue serving the Durham and Raleigh areas in North Carolina.
Outdoor Research Announces Promotion
Outdoor Research announced it has promoted Liz Wilson to senior vice president, Global Product Creation.
Spanx Sold To Blackstone
Spanx Inc. announced a definitive agreement for a majority investment from funds managed by Blackstone, the global investment business. The firm has agreed to buy a majority stake in the women’s shapewear company at a valuation of $1.2 billion, with founder Sara Blakely maintaining a significant equity stake in the business.
Tilly’s Appoints Board Members
Tilly’s, Inc. announced the appointment of Teresa L. Aragones and Erin M. Chin to its Board of Directors.
Montane Hires Country Manager For The U.S.
British outdoor clothing brand Montane has appointed industry veteran Mike Downing of Boulder, CO as manager for its U.S. business.
Mountain Hardwear Retains Upper Midwest Sales Agency
Mountain Hardwear appointed Adams Outdoor Sales in the Upper Midwest as its newest regional sales representation.
Minus33 Appoints President
Lawson Glidden was named president of Minus33 and the L.W. Packard company. A business spanning five generations and dating back to 1916, Glidden assumes the role of president from his father, John Glidden.
Filson’s Parent Appoints CFO
Filson’s parent company, Bedrock Manufacturing Co, has appointed Michele Santana as its chief financial officer.
Burberry Appoints CEO
Burberry announced the appointment of Jonathan Akeroyd, currently CEO of Milan-based Gianni Versace SpA, as CEO and executive director, effective April 1, 2022. He will report to Chair Gerry Murphy and its Board of Directors.
RYU Apparel Announces Non-Brokered Private Placement
RYU Apparel Inc. announced a non-brokered private placement of up to 7,500 convertible debenture units at a price of $1,000 per debenture unit for aggregate gross proceeds of up to $7.5 million.
Himali Opens Store In Boulder
Himali, a Boulder-based start-up specializing in mountain apparel, has opened its first store on the Pearl Street Mall at 1418 Pearl Street, according to the Daily Camera.
