SGB Update Apparel
Academy Sports’ Q1 Blows Past Wall Street Targets
Academy Sports + Outdoors raised its guidance for the year after reporting first-quarter earnings that came in well above Wall Street estimates. The 38.9 percent same-store gain was driven by continued double-digit consumer demand across all product categories, notably in Apparel, Footwear and Team Sports.
Decathlon U.S.A. Announces New CEO
Decathlon announced the appointment of Christian Ollier as CEO of Decathlon U.S.A., allowing prior CEO, Michel D’Humières, to move on to other projects within the company.
Etsy To Acquire Fashion Resale Marketplace Depop
Etsy Inc. has signed a definitive agreement to acquire Depop, a privately-held marketplace for fashion for $1.625 billion. Following the closing of the transaction, currently anticipated to occur during the third quarter of 2021, Depop will continue to be headquartered in London and operate as a standalone marketplace run by its existing leadership team.
G-III Apparel’s Q1 Exceeds Expectations
G-III Apparel Group reported earnings in the first quarter that topped internal targets as sales grew 28.3 percent. Morris Goldfarb, CEO, said, “With each passing week, sales for broader lifestyle apparel, such as sportswear, wear-to-work attire and dresses, are accelerating.”
Gap Inc.’s Debt Ratings Outlook Raised To Stable
Moody’s Inc. raised its outlook on the debt ratings of Gap Inc. to stable from negative to reflect the significant improvement in its operations as it recovers from the impact of the pandemic.
BAPE Secures New Investor
CVC announced the completion of an investment in A Bathing Ape (BAPE) after the Japanese streetwear brand became an independent company from I.T Limited. With the investment, CVC has acquired co-control of BAPE.
NRF Announces New Board Members
The National Retail Federation elected two new members to the NRF Board of Directors during its virtual summer board meeting. The new members are Hal Lawton, president and CEO of Tractor Supply Company, and Anish Melwani, chairman and CEO of LVMH Moët Hennessy Louis Vuitton Inc.
Fanatics Forms Partnership With Canada Soccer
Fanatics plans to launch and operate Canada Soccer’s new standalone e-commerce and mobile platform and operate on-site retail at Canada soccer’s men’s and women’s national team matches in Canada.
Fanatics Partners With USA Swimming
Fanatics reached a long-term omnichannel retail partnership to become the official fan shop of USA Swimming, the national governing body of swimming in the U.S., online and on-site at USA swimming events.
Pandemic’s Impact On Imports Easing, But Numbers Are Still Below Last Year
The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates..
Smartwool Announces Senior Leadership Changes
Smartwool announced senior leadership changes to sales and e-commerce divisions effective June 1, 2021.
Nike, H&M, Zara Among Foreign Brands China Accuses Of Selling Unsafe Children’s Products
The Chinese government accused H&M, Nike, Zara, and other brands, of importing unsafe or poor-quality children’s clothes and other goods. The warning comes as global brands have faced criticism in China over their decisions to boycott cotton from Northwest China’s Xinjiang Uygur Autonomous Region based on “forced labor” lies.
Dunham’s Sports Plans To Open 11 New Stores In Back Half Of 2021
Dunham’s Sports recently announced plans to open 11 new stores in the back half of 2021, bringing the company’s total store count to over 250.
Tilly’s Q1 Profits Surpass Wall Street’s Expectations
Tilly’s Inc. reported its best first quarter of any quarter since becoming a public company in May 2012. Sales grew 111.1 percent in the quarter year-over-year and gained 21.9 percent on a two-year basis.
Zumiez Posts Record Fiscal 2021 First Quarter Results
Zumiez Inc. reported a profit in the first quarter that significantly exceeded Wall Street’s estimates as sales doubled.
