SGB Update Apparel
Macy’s Posts Q3 Loss But Beats Estimates
Macy’s reported a loss on an adjusted basis in the third quarter that was significantly lower than Wall Street’s targets. Comparable sales were down 21.0 percent even as stores continued to recover and digital sales grew 27 percent.
Brooks Running Sees 49 percent Global Growth In Q3
Brooks Running reported record third-quarter global revenue up 49 percent year-over-year, leading to a 2020 outlook of 27 percent growth. Digital sales, both through brooksrunning.com and retail partners, flexed from less than 35 percent of sales in 2019 to a peak of 82 percent of all sales this past April, and has since stabilized at 42 percent of sales, up 7 points from pre-COVID levels.
Nike Senior Creative Director For Women Sportswear Joins Calvin Klein
Calvin Klein Inc. announced the appointment of Jessica Lomax as EVP, global head of design, effective December 9. She joins the company from Nike, where she currently serves as senior creative director, women’s sportswear apparel.
Nike Launches Nike Unite Retail Concept
Nike Inc. has introduced a new Nike Unite concept focused on local communities. The concept represents its fourth retail specialty concept, joining Nike House of Innovation, Nike Rise and Nike Live. Nike plans to open nine Nike Unite worldwide locations in 2020, including five in the U.S.
Target Posts Robust Q3 Profit Gains
Target Corp. announced its third quarter 2020 financial results, which reflected continued, robust growth in both sales and profitability. Comparable sales grew 20.7 percent.
TJX’s Q3 Surpasses Wall Street Targets
The TJX Companies Inc. reported earnings grew slightly and easily topped Wall Street’s consensus estimate. Overall open-only comp-store sales were down 5 percent versus last year. Comps at Marmaxx (U.S.), including T.J. Maxx, Marshalls and Sierra Trading, were down 10 percent.
Adidas Partners With LeAD Sports & Health Tech
Adidas has formed a formal partnership with Berlin-based leAD Sports & Health Tech accelerator, which is backed by the family of Adidas founder Adi Dassler and supports start-ups.
K-Swiss Appoints Director Of Tennis
K-Swiss appointed Dave Malinowski as director of tennis. He most recently worked for Adidas North America as senior director of specialty sports.
NRF Reports: October Retail Sales Grew As Holiday Shopping Starts Early
Retail sales grew for the sixth month in a row in October, with sales significantly better than the same time a year ago as the economy continued to recover and consumers began their holiday shopping early, the National Retail Federation said.
MycoWorks Raises $45M In Series B Financing
MycoWorks, based in San Francisco, announced the closing of a $45 million Series B financing to scale up and meet demand for Reishi, the natural, non-animal leather material.
Outdoor Retailer Opens Registration For Virtual Winter Tradeshow
Registration is open for OR Winter Online, its digital marketplace and online experience. Opening January 6, 2021, the virtual event will include key Summit Days from January 20-23 through March 19, 2021.
Kohl’s Q3 Comps Drop 13.3 Percent
Kohl’s reported third-quarter earnings that were significantly better than Wall Street’s targets although same-store sales were down 13.3 percent.
Sequential Brands Posts Q3 Profit Against Loss
Sequential Brands Group reported a profit against a year-ago loss in the third quarter as sales declined slightly.
SFIA Appoints Chief Business Officer
The Sports & Fitness Industry Association announced the appointment of Bill Patterson as SFIA’s chief business officer, effective immediately. He formerly worked for OpSec Security.
Puma To Sponsor United Soccer League
The United Soccer League, based in Tampa, FL, announced a new three-year agreement that makes Puma the national partner for the new USL Academy League.
