SGB Update Apparel
VF Misses Wall Street’s Targets In Q2
VF Corp. reported earnings per share on an adjusted basis in its fiscal second quarter rose 6 percent but came in below Wall Street expectations. The company reiterated its guidance for the year. Among major brands on a currency-neutral basis, Vans again led the way, up 16 percent; followed by The North Face, up 10 percent; and Timberland, 1 percent. Dickies was was down 3 percent.
Puma Lifts 2019 Outlook As Q3 Profit And Revenues Climb
Puma raised its earnings guidance for the year as strong third-quarter earnings and overall momentum is expected to offset the negative impact from new tariffs in the fourth quarter in the U.S. Q3 sales grew 17.0 percent on a currency-neutral basis, led by a 28.5 percent gain in the Asia/Pacific region and a 17.9 percent climb in the Americas region.
Asics Takes Equity Stake In Dreamers Fund
Asics Corp. announced that its investment subsidiary Asics Ventures Corporation took an equity stake in Dreamers Fund, which invests primarily in early-stage startups in the U.S. Asics Ventures will be a limited partner in the fund.
REI To Close On Black Friday For Fifth Straight Year
For the fifth time this Black Friday, REI Co-op will close all its stores, process no online payments and pay all 13,000 employees to #OptOutside with friends and family. But this year, under the leadership of a new CEO and facing a global environmental crisis, the co-op is going a step further: asking its 13,000 employees and 18 million members to join in the fight for life outdoors – and life on this planet.
Gildan Steps Up U.S. Production With $5 Million North Carolina Yarn Mill
Gildan Activewear plans to invest $5 million to revamp and operate a new yarn spinning mill in Eden, NC. The new location will be the company’s fifth state-of-the-art yarn spinning mill in North Carolina.
REI Welcomes Kelley Hall As New CFO
REI Co-op has hired Kelley Hall as its new chief financial officer. Hall was senior vice president, chief accounting officer, and treasurer at Nordstrom Inc.
Nike’s CEO Mark Parker To Step Down In January 2020, John Donahoe To Succeed
Nike Inc said John Donahoe will be appointed as the company’s new president and chief executive officer, effective Jan. 13, 2020. At the same time, Mark Parker, CEO since 2006 and chairman, president and CEO since 2016, will become executive chairman and continue to lead the board of directors and work closely with Donahoe and the senior management team.
Voxel8 Announcing Series B Investment Round
Voxel8, a start-up bringing 3-D printing to footwear and athletic apparel, announces a Series B funding led by DSM Venturing, the venture investment arm of DSM.
Rossignol Group Reorganizes North American Apparel Team
Rossignol is restructuring its apparel and retail operations team in North America in order to more effectively support growth goals in the category and fuel initiatives in D2C and retail sales channels.
IAAF To Investigate Nike’s Record-Breaking Shoe
The International Association of Athletics Federation (IAAF), the organizing body for various running-based competitions, launched a probe into the Nike Vaporfly after reported complaints about its use in competition.
Under Armour Founder Kevin Plank Steps Aside As CEO
Kevin Plank, the founder and CEO of Under Armour Inc., is stepping down as CEO. Patrik Frisk, the company’s chief operating officer, will take over as CEO at the end of the year. Plank, who started the sportswear company in 1996, will stay as executive chairman and brand chief.
Fanatics Partners With Blizzard Entertainment
Fanatics and publisher Blizzard Entertainment announced an expanded agreement that will see Fanatics operate new mobile-friendly e-commerce platforms that will house Blizzard’s Gear Stores for gamers across the globe.
Macy’s Inc. Commits To Going Fur-Free
Macy’s, Inc. announced that it will stop selling fur by the end of fiscal 2020. This includes all Macy’s and Bloomingdale’s private brands, as well as items sold from brand partners.
Saks-Owner To Go Private
Hudson’s Bay Company, which owns Saks Fifth Avenue, said its board of directors has accepted a revised offer from a group of majority shareholders led by executive chairman Richard Baker, bringing the retailer a step closer to going private.
Adidas’ Eric Liedtke To Exit At Year End
Adidas AG announced that Eric Liedtke, a 25-year Adidas veteran responsible for global brands, plans to exit the company at the close of the year. Liedtke was credited with guiding successful collaborations with global influencers such as Kanye West, Pharrell Williams and Beyoncé. Brian Grevy, CEO of Gant, will return as executive board member, responsible for global brands at the start of next year.
