SGB Update Apparel
VF’s CEO Joins Best Buy’s Board
Best Buy Co. Inc. appointed Steve Rendle, chairman, president and CEO of VF Corp., to its board of directors.
Urban Outfitters’ Q4 Comps Decline 7 Percent
Urban Outfitters Inc. reported total company net sales for the three months ended January 31 decreased 6.9 percent over the same period last year to $1.09 billion. Comparable Retail segment net sales decreased 7 percent.
Adidas Expands Streetwear App Confirmed To UK And Europe
Adidas has expanded Confirmed, its streetwear-inspired app, to the UK, France, Italy, Poland, Spain, Germany and the Netherlands.
The VF Foundation Issues its First Impact Report
The VF Foundation, the VF Corporation’s philanthropic arm, published its inaugural report outlining the positive impact of its financial grants and charitable partnerships.
Nordstrom’s Q4 Revenues Slump 20 Percent
Nordstrom Inc. reported a sharp decline in fourth-quarter earnings but results topped Wall Street’s target. Net sales decreased 20 percent, which improved sequentially by 600 basis points relative to the third quarter, after adjusting for a shift of the Nordstrom Anniversary Sale.
Ross Stores Q4 Comps Drop 6 Percent
Ross Stores Inc. reported earnings fell 47.8 percent in the fourth quarter as same-store sales declined 6 percent. The off-pricer said an upsurge of the virus resulted in lower traffic, especially in California, its largest state.
Big 5’s Q4 Profits Soar, Forecasts Strong First Quarter
Big 5 Sporting Goods Corp. reported a significant hike in earnings in the year ended January 3 as same-store sales jumped 10.5 percent. The sporting goods chain also hiked its dividend by 50 percent and predicted same-store in the first quarter would climb approximately 20 percent.
Globe International Sees 60 Percent Growth In First Half
Globe International Limited, based in Melbourne, reported a significant increase in sales and profitability in the first half ended December 31. The company’s four brands, Impala, FXD, Globe and Salty Crew, all grew.
Jordan Brand President Joins Capital One’s Board
Craig Williams, president of Jordan Brand at Nike, has been appointed to the board of directors at Capital One Financial Corporation.
Natural Indigo Maker Stony Creek Colors Raises $9M Series B
Stony Creek Colors, based in Springfield, TN, has raised over $9 million in a Series B financing round.
Jockey Partners With Pac-12
The Pac-12 announced that Jockey will become the official apparel partner of the Pac-12 under a new multi-year partnership.
Canada Goose And NBA Announce Multiyear Partnership
Canada Goose announced a multi-year partnership with the National Basketball Association (NBA) that makes Canada Goose the Outerwear Partner of the NBA All-Stars.
Target’s Q4 Earnings Run Up 58 Percent
Target Corp. reported adjusted EPS in the fourth quarter improved 58.0 percent to $2.67 from $1.69 a year ago and ahead of Wall Street’s consensus estimate of $2.49. Same-store sales grew 6.9 percent.
Macy’s Announces Changes To Its Senior Leadership Team
Macy’s Inc. announced changes to its senior leadership team, including the exit of its COO and a new CIO and head of real estate.
Kohl’s Adjusted Earnings Climb 12 Percent In Q4
Kohl’s Inc. reported earnings on an adjusted basis grew 12.3 percent in the fourth quarter to easily top Wall Street’s targets. Sales were down 10.1 percent.
