SGB Update Apparel
Coterie Appoints VP Of Events
Coterie announced the appointment of Courtney Bradarich as VP of Events. She joins Coterie with over 15 years of fashion trade experience bringing a specialized background in contemporary and advanced contemporary markets and expertise in strategizing upmarket plans with omnichannel solutions.
REI To Open New Store
REI Co-op will open a new store in Mechanicsburg, PA in fall 2021, marking the Co-op’s fifth location in the state.
Athleta’s Q3 Sales Jump 35 Percent
Athleta’s sales grew 35 percent in the third quarter, according to its parent, Gap Inc. Comparable sales were the highest in the brand’s history – up 37 percent – and online contribution remained above 50 percent in the quarter.
Nordstrom’s Q3 Revenues Slump 16 Percent
Nordstrom Inc. reported sales decreased 16 percent to $3 billion in the third quarter. Net earnings were down 57.9 percent in the period, but came in well above Wall Street’s targets. Top-performing merchandise categories included active, home, beauty and designer.
RYU Apparel Appoints North American Wholesale General Manager
RYU Apparel Inc., based in Vancouver, appointed Grant Matzen to head its North American wholesale expansion.
Tracker Boats To Double Its Footprint In Bolivar, Adding 300 New Jobs
Bass Pro Shops and White River Marine Group are expanding its Tracker Boats plant in Bolivar, MO, doubling the square footage of its manufacturing capabilities and adding 300 manufacturing jobs.
Urban Outfitters’ Q3 Profits Jump 38 Percent
Urban Outfitters Inc. announced net income rose 37.7 percent in the third quarter to $76.7 million, or 78 cents a share. Comparable Retail segment net sales were flat as a result of negative retail store sales driven by lower store productivity due to reduced store traffic, offset by strong double-digit growth in the digital channel.
Dick’s SG’s Q3 Earnings Surge On 23 Percent Comp Gain
Dick’s Sporting Goods reported earnings in the third quarter ended October 31 jumped more than four-fold as same-store sales climbed 23.2 percent. Brick & mortar same-store sales increased double-digits, the best performance since going public nearly two decades ago, while e-commerce sales expanded 95 percent.
Dick’s SG Announces Planned Leadership Succession
Dick’s Sporting Goods Inc. announced that Ed Stack, chairman and chief executive officer, will assume the role of executive chairman and continue as chief merchant on February 1, 2021. He also will oversee key strategic growth initiatives for the company. Lauren Hobart, the current president of Dick’s, will succeed Stack as president and CEO.
Li Ning Signs Jimmy Butler
Li Ning signed a multi-year shoe deal with Miami Heat superstar Jimmy Butler.
Patagonia Appoints Environmental Action & Initiatives Director, EMEA
Patagonia has hired Beth Thoren to the position of Environmental Action & Initiatives Director, EMEA.
Burlington Stores’ Q3 Profits Tumble
Burlington Stores reported earnings on an adjusted basis fell 80.6 percent in the third quarter ended October 31 due to a decline in sales and higher product sourcing costs tied to the pandemic. Comparable store sales decreased 11 percent, with significant improvement coming out of August .
CMCBrands, Pacific Teaze Announce Alliance
CMCBrands and Pacific Teaze announced a strategic brand partnership that includes shared logistics, distribution and merchandising. This cooperation focuses on leveraging operational efficiencies to grow both organizations.
Outdoor Research Appoints New President
Outdoor Research announced a new leadership structure with industry veteran Roger Barton taking the helm of the company.
NRF Forecast: Holiday Sales Will Grow Between 3.6 And 5.2 Percent
With retail sales rebounding strongly due to continued consumer resilience, the National Retail Federation forecast that holiday sales during November and December will increase between 3.6 percent and 5.2 percent over 2019. Online and other non-store sales are projected to jump between 20 percent and 30 percent.
