SGB Update Apparel
SportChek’s Q1 Sales Slump 13.1 Percent
Canadian Tire Inc. reported sales in its SportChek segment decreased 13.1 percent while comparable sales decreased 1.8 percent. Helly Hansen’s revenue in the quarter was $121.5 million, a decrease of 7.3 percent. On a constant currency basis, Helly Hansen revenue grew 0.6 percent.
Dick’s Sporting Goods Re-Opens In 23 States
Dick’s Sporting Goods has re-opened locations in 23 states with new social distancing guidelines and the retention of curbside pickup.
Gap Inc. Outlines Strategic Plan For Store Re-Openings
Gap Inc. said it’s preparing to re-open up to 800 of its Old Navy, Athleta, Gap, Banana Republic, Janie and Jack and Intermix stores before the end of the month, starting with a small selection of locations in Texas this weekend. The company’s top priority remains the health and safety of its employees, customers and communities.
NPD: Weekly Retail Spending Up 7 Percent Sequentially
Retail spending rose 7 percent for the week ending April 25 compared to the prior week, according to The NPD Group. Sales were flat year-over-year during the same period — the first time sales didn’t decline since early March.
Kohl’s Begins Reopening Stores
Kohl’s Corp has re-opened stores in Arkansas, Oklahoma, South Carolina and Utah in its first steps to re-open stores amid the pandemic.
Kitsbow Appoints Andrew Chmar To Board of Directors
Kitsbow, maker of cycling clothing, announced that Andrew Chmar has joined Kitsbow’s Board of Directors. An expert logician having served in the U.S. Army for more than two decades, Chmar brings extensive expertise in strategic planning and operational management to the Kitsbow board.
SFIA’s State of the Industry Report Shows 3.9 Percent Growth In 2019
The sports and fitness industry performed well across multiple sectors in 2019, according to the Sports & Fitness Industry Association’s annual State of the Industry Report. In 2019, the industry grew 3.9 percent in one year, representing the largest annual growth in 17 years.
Nordstrom To Permanently Close 16 Stores
Nordstrom Inc. plans to permanently close 16 full-line stores and announced other additional actions to increase flexibility and agility in response to COVID-19. The Seattle-based chain also said it will make changes to how its stores function in a “market-by-market” approach and will move its big Anniversary Sale from July to August.
Report: Lord & Taylor Preparing To Liquidate
Lord & Taylor is reportedly preparing to liquidate its stores as soon as they reopen, according to a report from Reuters.
Umbro To Sponsor England Rugby
Umbro will replace Canterbury as the kit supplier for England’s rugby team on September 1 under a four-year deal.
Kathmandu’s Online Sales Surge
Kathmandu, the New Zealand-based outdoor chain and owner of Oboz and Rip Curl, reported online sales increased nearly three-fold in April while announcing plans for a staged reopening of physical stores, with a focus on employee and customer safety. The company also said a successful equity raising and cost reduction efforts have solidified its financial position.
TIA Survey Highlights Challenges For Tennis Retailers
According to a survey from the TIA (Tennis Industry Association) of professional and specialty tennis retailers in the United States, steep sales declines were expected for March and April. Nearly 90 percent of the respondents’ stores were closed when the survey was taken.
Road Runner Sports To Host A Virtual Race
Road Runner Sports has partnered with Stride, the boutique fitness franchise that offers treadmill-based cardio and strength workouts, to host a national virtual race on June 3, which is Global Running Day.
Duluth Holdings Starts To Re-Open Stores
Duluth Holdings Inc. said it re-opened 20 retail stores on Monday where COVID-19 restrictions have been lifted and is preparing to re-open the balance as other states lift their pandemic mandates. The apparel company also announced steps to shore up its liquidity.,
Compass Diversified Holdings Announces Common Share Offering
Compass Diversified Holdings commenced a public offering of 5 million common shares, with a 30-day option for the underwriters to purchase up to an additional 750,000 common shares.
