SGB Update Apparel
Athleta Sees Sales Surge In Q1
Gap Inc. reported that Athleta’s net sales in the first quarter were up 56 percent versus 2019. Comparable sales grew 27 percent year-over-year and 46 percent versus 2019.
Under Armour Enters Into Exchange Agreements With Noteholders
Under Armour Inc. announced that it has entered into exchange agreements with certain holders of its 1.50 percent Convertible Senior Notes due 2024.
Burlington Stores Sees Q1 Same-Store Sales Climb 20 Percent
Burlington Stores Inc. reported earnings more than doubled in the first quarter as same-store sales grew 20 percent.
Report: Authentic Brands Confidentially Files For IPO
Authentic Brands Group (ABG), which owns a number of fashion and sports brands, has reportedly filed confidentially for an initial public offering.
Fanatics Opens Paris Saint-Germain Store In Los Angeles
Paris Saint-Germain in partnership with Fanatics has become the first European football club to open a permanent retail store in the United States.
Kering Sells 5.9 Percent Stake In Puma
French luxury goods group Kering announced plans to sell a 5.9 percent stake in Puma via a placement to investors.
VF Corp. Launches New Innovation Pillar
VF Corp. announced its launch of Venture Platforms, an innovation pillar that will focus on identifying and investing in new, future-focused opportunities.
Fleet Feet Syracuse Owners To Retire
Fleet Feet announced that Ed and Ellen Griffin have retired after 21 years of owning their Fleet Feet franchise business.
Urban Outfitters Tops Wall Street’s Targets In Q1
Urban Outfitters Inc. announced a record net income of $54 million, or 54 cents a share, on sales of $927 million for the first quarter ended April 30. Wall Street on average was looking for 16 cents a share on sales of $898 million.
REI Launches Content And Entertainment Arm
REI announced the launch of Co-op Studios, the retailer’s in-house content arm. Across films, podcasts and editorial programs, the studio develops and produces content that explores the power of time spent outside, while complementing the brand’s broader commitments.
Father’s Day Spending To Hit $20.1 Billion, According To NRF
U.S. consumers are expected to spend more than $20.1 billion on gifts and other items for Father’s Day this year, a record high, according to the National Retail Federation’s (NRF) annual survey conducted by Prosper Insight & Analytics. Total spending for the holiday will surpass last year’s record figure of $17 billion.
Stifel Launches Sustainable Lifestyle Brand Index
A new Stifel survey shows consumers believe it’s important for companies to act sustainably and most are willing to pay a premium for brands that demonstrate ethical business practices, environmental care, and social responsibility. Based on this insight, Stifel is also introducing its Sustainable Lifestyle Brands Index, which ranks brands based on consumer perception of corporate sustainability practices.
Hibbett Appoints Board Member
Hibbett Sports Inc. announced the appointment of Linda Hubbard to the company’s Board of Directors. She is president and chief operating officer of Carhartt.
Dick’s SG Lifts FY Outlook On Blowout First Quarter
Dick’s Sporting Goods raised its full-year guidance after reporting sales and earnings for the first quarter ended May 1 came in well ahead of Wall Street’s consensus targets. Consolidated same-store sales for 2021 are now projected to expand in the range of 8.0 percent to 11.0 percent.
Academy Sports Announces $99 Million Paydown And Refinancing Of Its Term Loan
Academy Sports + Outdoors, Inc. announced that it had completed a paydown and refinancing of its term loan and that its S&P Global credit rating has been upgraded.
