SGB Update Apparel

Neiman Marcus Files For Bankruptcy

Neiman Marcus Group filed for bankruptcy Thursday in the U.S. Bankruptcy Court for the Southern District of Texas. The luxury chain has struggled to pay down $5 billion in debt, much of it from leveraged buyouts in 2005 and 2013.

NPD: Sporting Goods, Home Fitness And Cycling Sales Surge In The U.S.

As U.S. consumers tackle ways to keep themselves and their families busy, active, and fit during this time of social distancing, sports and home fitness equipment as well as children’s and adult leisure bicycles have seen double- and triple-digit sales increases, according to retail sales data from The NPD Group.

New Balance Donates $1 Million In Sneakers To Healthcare Workers

New Balance announced that it is teaming up with its athletes, including Milos Raonic, Sydney McLaughlin, Dejounte Murray, Rose Lavelle, Rob Pannell, Trayvon Bromell, Joey Gallo and Zdeno Chara, to collectively donate more than $1 million worth of footwear to front line medical workers.

New Balance Taking Ownership Of High School Nationals

New Balance said it will be parting ways with the National Scholastic Athletic Foundation (NSAF), which has handled registration, coordinates meet planning and public relations for New Balance’s national high school indoor and outdoor championships. The brand will be taking sole ownership in directing and coordinating its own meet starting in 2021.

YNIQ Announces North American Distribution

YNIQ Sweden (Spoxury TR Group AB) announced the formation of its North American distribution, YNIQ North America, under the umbrella ownership of Wedge Brands, LLC, formerly ZG Holdings.

Puma’s Q1 Earnings Decline 62 Percent

Puma reported that its first-quarter earnings were dragged down by the coronavirus pandemic while warning of a bigger impact in the second quarter.

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.

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.