SGB Update Apparel
AAFA Sends Letter To President Biden Calling For Tariff Relief To Offset Shipping Crisis
American Apparel & Footwear Association President and CEO Steve Lamar emphasized the need for additional federal support to address the ongoing shipping crisis that has caused a “destructive cycle of lengthening delays and rocketing costs” in a letter to President Biden.
Walmart To Launch Justice Tween Brand In Stores
Walmart plans to add the Justice tween brand to 2,400 stores and Walmart.com timed with back-to-school shopping.
Senate Passes Bill Banning Imports From Xinjiang, China
The U.S. Senate passed legislation on Wednesday to ban the import of products from China’s Xinjiang region unless importers can prove they weren’t made with forced labor. The move marks the latest effort in Washington to punish Beijing for what U.S. officials say is an ongoing genocide against Uyghurs and other Muslim groups.
Rally House Opens Seventh St. Louis Location
Rally House is opening its seventh St. Louis location. The store is in O’Fallon at the Shops at Laura Hill next to Kohl’s.The family-owned sports and merchandise retailer is continuing with its rapid growth in 2021, opening over 14 stores this year.
HanesBrands Appoints VP, Talent & Diversity
HanesBrands appointed LaTonya Groom as vice president, talent & diversity.
Delta Apparel Announces 65 percent Third Quarter Sales Growth
Delta Apparel Inc. announced preliminary sales and operating results for its 2021 fiscal third quarter ended July 3. The company expects net sales for its June quarter to be approximately $118 million, representing 65 percent growth compared to the prior year and coming in roughly flat to the third quarter of fiscal 2019.
Academy Sports’ Debt Ratings Upgraded
Moody’s Investors Service upgraded Academy Sports and Outdoors’ debt ratings due to the chain’s “continued outperformance in Q1 2021 relative to expectations and Moody’s projections for solid credit metrics even in a scenario of normalized demand in the sporting goods category.”
Report: Fabletics Exploring IPO
Fabletics has recently retained banks to prepare for an initial public offering (IPO) with an aim at a valuation of more than $5 billion, sources told The Wall Street Journal. The filing comes as the workout-apparel brand backed by actress Kate Hudson has ramped up store openings in 2021.
Ross Stores Announces Departure Of CFO
Ross Stores Inc. announced that Travis Marquette, the company’s executive vice president and chief financial officer since 2019, has resigned effective immediately to accept a position with another company.
Play It Again Sports Income Soars In Second Quarter
Winmark Corp., the parent of Play It Again Sports, announced net income for the quarter ended June 26 of $8.94 million, or $2.33 per share, compared to net income of $5.06 million, or $1.33, in 2020.
Eddie Bauer Launches Gear Rental Program
Eddie Bauer has launched a gear rental program in partnership with Arrive Outdoors, camping gear and outdoor product rental business.
Scheels Announces Wichita Location For 2023
Scheels announced its second Scheels location coming to Kansas. The new store will open in Spring 2023 in Wichita, in collaboration with Simon, joining the Overland Park Scheels that opened near Kansas City in 2015.
Nike Loses Fight Over EU Probe Into Dutch Tax Deal
Europe’s second-highest court backed a European Union’s investigation opened two years ago into its Dutch tax affairs.
La Passione Secures New Round Of Funding
Italian cycling apparel brand, La Passione, announced a new funding raise of €7 million ($8.3 mm).
QVC Parent Appoints New President And CEO
Qurate Retail Inc., the parent of QVC and HSN, announced that David Rawlinson II will assume the role of President and CEO, effective October 1. He will succeed Mike George after a two-month transition period.
