SGB Update Apparel
Gant Appoints Patrik Söderström As New CEO
Gant has named Patrik Söderström chief executive officer, effective February 2020. He will take over for Brian Grevy, who, as reported, is re-joining Adidas to lead Global Brands.
Online Sales Break Records On Black Friday
Overall online sales on Black Friday jumped 19.4 percent to $7.4 billion, the second-largest Internet shopping day ever, according to data compiled by Adobe Analytics. The $7.4 billion marked the biggest sales day ever for Black Friday and trailed only last year’s Cyber Monday’s $7.9 billion for the number 1 spot of all-time in online revenue, according to Adobe’s data.
Outdoor Voices Opens Flagship In Manhattan’s Flatiron District
Outdoor Voices, the Austin-based activewear brand, on Friday opened a flagship in New York’s Flatiron District. The 1,400-square-foot store will be located at 19th Street and Fifth Avenue and represents the company’s 10th store.
Citi Trends Posts Q3 Loss
Citi Trends, which is increasing its emphasis on gift-giving merchandise and away from apparel, reported a loss in the third quarter as comps increased 2.6 percent while increasing its full-year outlook. The retailer also said it plans to annually grow store base by 25 to 30 stores and remodel 50 stores and named Peter Sachse as interim CEO.
Hudson’s Bay Bidding War Heats Up
Hudson’s Bay Company (HBC), the parent of Saks, has received a third – and higher – offer from Catalyst Capital Group to acquire the company.
Gap Downgraded By S&P
Standard & Poors (S&P) lowered the issuer credit rating to ‘BB’ from ‘BB+’. The downgrade reflects our view that Gap Inc.’s performance struggles will persist as it faces a torrent of competitive headwinds and potential distractions from the planned separation of its core Old Navy brand in mid-2020
NRF: Half Of Holiday Shoppers Have Already Started
More than half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.
Report: Anta Exploring Sale Of Precor
Anta Sports Products Ltd. , which acquired Amer Sports in March 2019, is exploring a sale of Precor, the fitness equipment maker, after receiving interest from buyers, according to a report from Bloomberg.
Hanesbrands CFO To Depart
Hanesbrands Inc., the parent of Champion, said that Chief Financial Officer Barry A. Hytinen has notified the company of his decision to leave Hanesbrands to accept another career opportunity outside of the apparel industry. Hytinen will continue to serve as Hanes chief financial officer until the end of the fiscal year, Dec. 28, 2019.
Dick’s Raises Outlook On Robust Q3 Results
Dick’s Sporting Goods raised its outlook for the year after reporting third-quarter earnings handily topped Wall Street targets. Same-store sales increased 6.0 percent, representing the company’s strongest quarterly comp sales gain since 2013.
PVH Lifts Outlook As Q3 Exceeds Guidance
PVH Corp., which owns the rights to Speedo in North America, raised full-year adjusted profit forecast after its third-quarter revenue and earnings that topped Wall Street expectations.
Boss Manufacturing Agrees To Sell Gloves, Boots And Rainwear Operations
Boss Manufacturing Company, a national supplier of personal protection equipment, reached an agreement in principle to sell the assets of its glove, boots, and rainwear business to Protective Industrial Products, Inc. (PIP) of Latham, NY. Boss’ range includes CAT branded work gloves and safety products.
Arc’teryx Announces Clinic Lineup For 2020 Backcountry Academy
Arc’teryx will be offering a total of 71 clinics at this year’s Backcountry Academy, two of which are new: a 2-day overnight backcountry ski and camp experience, and a Level 2 Avalanche 3-Day Course.
The Buckle’s Q3 Profits Climb 27 Percent
The Buckle Inc. reported net income for the fiscal quarter ended November 2, 2019 rose 26.8 percent to $26.0 million, or 53 cents per share, from $20.5 million, or 42 cents, a year ago.
Hibbett Sports Boosts Full-Year Guidance On Q3 Beat
Hibbett Sports Inc raised its full-year outlook after reporting third-quarter profit and sales beat expectations. Earnings were more than double analysts’ targets as the retailer delivered its fourth consecutive quarter of comparable sales growth.
