SGB Update Apparel
REI Plans Special Member Reward Despite Annual Loss
REI reported that it didn’t make a profit in 2020 and consequently won’t be able to pay out its usual annual dividend to members. However, the Co-op said that because the year ended better than expected, a special reward would be paid to members.
Rossignol Opens Aspen Retail Store
Building on its Aspen, CO retail “pop-up” boutique’s success, Rossignol opened a larger, permanent store in downtown Aspen.
Gildan Activewear’s Q4 Sales Grew 4.8 Percent
Gildan Activewear reported sales rose 4.8 percent in the fourth quarter year-over-year while earnings on an adjusted basis improved 9.8 percent.
Wolverine Worldwide Exceeds Fourth-Quarter Revenue And EPS Expectations
Wolverine World Wide Inc. reported sales were down 16.1 percent in the fourth quarter and earnings also were below year-ago levels but results were ahead of Wall Street’s targets and the company predicted an “accelerated recovery” in 2021. Owned eCommerce revenue grew 50 percent in 2020.
Acushnet’s Q4 Revenues Jump 14 Percent
Profits at Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, rose 20.7 percent in the fourth quarter ended December 31 on a 14.2 percent revenue gain.
Gap To Build Texas Distribution Center To Support Online Growth
Gap Inc. announced plans to open a new state-of-the-art Customer Experience Center in Longview, TX to support Old Navy’s growing online business.
Belk Files For Bankruptcy
Belk Inc., as expected, filed for bankruptcy protection in Houston, TX commencing “Pre-Packaged, One Day” reorganization. The plan calls for the reduction of $450 million in debt from the department store’s balance sheet and a $225 million capital infusion, supplied by Belk lenders and its private-equity owner Sycamore.
REI Expands Mobile Work Practices
REI announced that it has both identified the first of its future satellite offices in Issaquah, WA and will test a model that allows employees to work up to five days a week from home. The moves follow REI’s sale last September of its newly completed corporate campus in Bellevue, WA, with plans to shift to a more distributed work model.
NRF Forecasts Retail Sales Between 6.5 Percent And 8.2 Percent In 2021
The National Retail Federation issued its annual forecast, anticipating that retail sales will grow between 6.5 percent and 8.2 percent to more than $4.33 trillion in 2021 as more individuals get vaccinated and the economy reopens.
Fleet Feet Adds Five Stores In 2020, Makes Key Hires
Fleet Feet announced significant growth in 2020 as it added five stores to close with 182 and saw triple-digit growth of its e-commerce site. The franchisor also hired a head of human resources and marketing and made several promotions to support future growth.
Stio Appoints Vice President Of Marketing
Stio has named Evan Torrance as vice president of marketing. Torrance joins the executive leadership team and reports to president Noah Waterhouse.
Play It Again Sports Parent Sees Modest Earnings Decline In 2020
Winmark Corporation, the parent of Play It Again Sports, reported net income for the year ended December 26, 2020 of $29.8 million, or $7.72 per share, down 7.2 percent compared to net income of $32.1 million, or $7.84, in 2019.
Puma’s Q4 Sales Climb 9 Percent, Sees Difficult First Half Of 2021
Puma reported sales grew 9.1 percent on a currency-neutral basis in the fourth quarter. With lockdowns currently closing about half of the retail stores selling Puma’s products in Europe, a challenging first quarter is expected. Recovery, however, is forecast near the end of the second quarter and strong improvements throughout the third and fourth quarter.
Impact Analytics Raises $11M In Funding Round
Impact Analytics Inc. closed on an $11 million growth financing led by Argentum Capital Partners IV, L.P. In connection with the financing, Walter H. Barandiarán, managing partner at Argentum, has joined Impact’s Board of Directors.
Champion Announces Collaboration With Muhammad Ali Brand
Champion Athleticwear and Authentic Brands Group (ABG) announced a multi-year collaboration for the Muhammad Ali brand.
