SGB Update Apparel
Scheels Opens Store In Eden Prairie
Scheels on Saturday opened a two-story, 250,000-square-foot store at Eden Prairie Center at Eden Prairie, MN, replacing a smaller store.
REI Undergoes Layoffs At Store Level
REI will reduce its staff by about 400 employees across its 162 stores, according to a report from Kent Reporter.
EVent Fabrics Acquired By Hong Kong Company
EVent Fabrics, a developer waterproof apparel with air-permeable membrane technology, has been acquired by Performax Pro, Limited, of Hong Kong, who assumed full ownership of the eVent Fabrics brand for an undisclosed sum. The seller was Parker Performance Materials which has owned the eVent brand since 2017.
Retailers Say Credit Insurance Plan Could Increase Liquidity During Pandemic Downturn
The National Retail Federation welcomed a report released this week calling for a federal backstop for trade credit insurance, saying the proposal could help provide liquidity badly needed by retailers as they recover from the recession brought on by the coronavirus pandemic.
NRF Delays NYC Big Show Until June 2021, Adds January Virtual Event
The National Retail Federation announced its annual exposition and conference will take place in-person at the Jacob Javits Convention Center in New York City June 6-8, 2021. In addition, NRF is hosting a virtual event January 12-14, 19 and 21-22, 2021. Both events will feature the theme “Forward Together.”
Venum To Replace Reebok As UFC Partner
UFC, the mixed martial arts organization, announced that Venum, the maker of combat sports apparel and accessories, will become UFC’s new exclusive global outfitting and apparel partner starting in 2021. The deal will take effect in April 2021 after the current deal with Reebok expires.
Mindbody Announces New Leadership Appointments
Mindbody, the technology platform for the wellness industry, announced that the company’s Co-Founder, Rick Stollmeyer, is transitioning from the role of chief executive officer to executive chair and that the Mindbody Board of Directors has appointed current President Josh McCarter to CEO effective August 1.
AAFA: Lack Of Trade Credit Insurance Could Hinder Economy Restart
The American Apparel and Footwear Association in a statement urged federal leaders to support credit insurance for businesses to avoid hindering recovery efforts. The organization cited a new report published by economists Dr. Robert Litan and Dr. Yong Xu highlights on the need for a government-sponsored backstop to support trade credit insurance (TCI).
J.C.Penney Seeks More Time To Negotiate With Lenders
J.C.Penney submitted its business plan to lenders, but is asking Texas bankruptcy court for more time to continue negotiations with lenders on a restructuring plan.
Delta Apparel To Report Sharp Sales Decline For Fiscal Q3
Delta Apparel, Inc. said it expects sales to drop 39.6 percent in the third quarter ended June 27, but noted that its business strengthened over the last two months of the period. DTG2Go’s preliminary sales grew 30 percent over prior year and Salt Life Group’s delivered June sales growth of 7 percent over the prior year.
Big 5 Sees Robust Q2 Profit Turnaround Despite Comps Decline
Big 5 Sporting Goods released upbeat preliminary results for the fiscal second quarter ended June 28. The company said it expects earnings per share of 52 cents to 54 cents for the quarter, including a benefit of 15 cents related to rent abatements and litigation recovery, compared with breakeven EPS a year ago.
Nike Launches Nike Rise Concept Store In Guangzhou, China
Nike launched a new Nike Rise retail concept in Guangzhou that promises a curated “1-to-1, personalized shopping journey that connects consumers to sport, their communities and one another.”
RVCA Retains Northwest Sales Agency
RVCA has appointed Northwest Road Reps to represent the Pacific Northwest.
RIA’s KICK On-Demand Event Starts Tuesday
The Running Industry Association’s (RIA) virtual buying show, KICK On-Demand will kick off this Tuesday, July 14th. Eight live sessions are scheduled for the first week.
Costco’s U.S. Same-Store Sales Climb 11 Percent In June
Costco Wholesale Corp. said its June sales rose 11 percent to $16.2 billion, from $14.6 billion in June 2019. Same-store sales rose 12 percent, including an 11 percent increase in U.S. same-store sales.
