SGB Update Apparel
Foot Locker’s Q2 Blows Past Wall Street’s Guidance
Foot Locker, Inc. reported earnings and sales in the second quarter ended July 31 came in well above Wall Street’s targets. Sales increased 9.5 percent year-over-year and 28.2 percent compared with the second quarter of 2019. Said Dick Johnson, chairman and CEO, “This quarter reflects strong results in our women’s and kids’ footwear business along with broad demand for our apparel and accessories offerings, which, combined with more limited promotional activity, led to the outstanding top and bottom-line results.”
Report: Amazon Plans To Open Smaller Department Store Concept
Amazon is planning to open several large retail locations in the U.S. that are similar to department stores, according to a report in the Wall Street Journal.
Ross Stores Sees Q2 Sales Expand 21 Percent Against 2019
Ross Stores, Inc. reported earnings per share for the 13 weeks ended July 31, 2021 grew 22 percent to $1.39 on net income of $494 million. This compares to $1.14 per share on net earnings of $413 million for the 13 weeks ended August 3, 2019. Sales rose 21 percent to $4.8 billion, with comparable-store sales up a robust 15 percent.
Black Diamond Names Industry Veteran As Business Unit Director, Ski
Black Diamond Equipment appointed industry veteran Mike Hattrup as business unit director for its ski category.
Macy’s Raises Guidance On Above-Plan Q2 Results
Macy’s, Inc. reported results for the second quarter of 2021, raised guidance for fiscal 2021 and announced plans to return capital to shareholders.
Kohl’s Raises Guidance As Q2 Results Surpass Expectations
Kohl’s Inc. raised its outlook for the year after reporting second-quarter earnings and sales handily topped Wall Street’s targets.
Dick’s SG Appoints Chief Financial Officer
Dick’s Sporting Goods announced that Navdeep Gupta has been appointed executive vice president, chief financial officer, effective October 1, 2021. Gupta will be responsible for the company’s finance, investor relations, accounting, business development and procurement functions. Current CFO Lee Belitsky will remain with Dick’s as executive vice president and continue to oversee several key areas – supply chain, real estate, construction and GameChanger.
REI Celebrates Store Opening In Orland Park, IL
REI is celebrating the opening of its 20,000-square-foot store in the Village of Orland Park in Illinois with a three-day celebration that runs from August 27-29.
NHL Owners Approve Jersey Ads For 2022/23 Season
The NHL plans to add the jersey patch starting in its 2022/23 season, according to a number of reports.
Under Armour Veteran Joins BlueChip Holdings As Advisor
Todd Montesano, the former senior vice president of global entertainment and partnerships at Under Armour, will join BlueChip Holdings Inc. as a board member and senior advisor.
Lululemon Makes Equity Investment In Genomatica
Lululemon Athletica Inc. made an equity investment in sustainable materials firm Genomatica as part of a multi-year collaboration to bring renewably sourced, bio-based materials into its product assortment. The move represents its first equity investment in a sustainable materials company.
Wilson Sporting Goods Opens NYC Pop-Up Museum Timed With US Open
Wilson Sporting Goods, which has long been the official ball and racket stringer of the US Open, announced opening plans of its New York City pop-up museum and retail shop to celebrate the upcoming sporting event.
Old Navy Overhauls Plus-Size Fashion Line
Old Navy said it will end its practice of separate plus-size sections for women’s clothing in stores and online and begin offering all of its women’s apparel in sizes 0 to 30.
Hanesbrands To Require All U.S. Office Employees To Be Fully Vaccinated For COVID-19
HanesBrands announced that all U.S. office associates must be fully vaccinated against COVID-19 by October 15, 2021.
Canada Goose Launches Share Repurchase Program
Canada Goose Holdings Inc. announced that the Toronto Stock Exchange (TSX) has approved a normal course issuer bid (NCIB) providing for the purchase for cancellation of up to 5.94 million subordinate voting shares of Canada Goose.
