SGB Update Apparel
G-III Apparel Announces Share Repurchase
G-III Apparel Group Ltd. on Thursday announced that the company has repurchased approximately 723,000 shares at an average price of $28.09 per share under its existing authorized share repurchase program.
EU Opens Probe Into Nike’s Dutch Tax Arrangements
The European Commission opened an investigation into Nike Inc.’s tax deals with the Netherlands. The probe could potentially lead to Nike having to pay back millions of euros.
OBIT Dr. Bernice Sandler
Dr. Bernice Sandler, known as the “godmother of Title IX” for her work advocating for women’s and girls rights in education and athletics, has passed away at the age of 90.
Nike Expands Relationship With Gridsum
Gridsum Holding Inc., a provider of cloud-based big-data analytics and artificial intelligence (AI) solutions in China, announced that it has expanded its relationship with Nike, Inc., with the addition of data analysis, consulting, and data modeling services.
Albert P. Carey Appointed As Non-Executive Chairman Of Unifi Board of Directors
Unifi Inc. on Thursday announced the appointment of Albert P. Carey as non-executive chairman of its board of directors, effective immediately. Carey has played an active role with Unifi since being elected to its board of directors in January 2018.
The Buckle Reports December Comps Drop Slightly
The Buckle Inc. on Thursday announced that comparable store net sales, for stores open at least one year, for the 5-week period ended January 5, 2019, decreased 0.2 percent from comparable store net sales for the 5-week period ended January 6, 2018.
Kohl’s Lifts Lower End Of Guidance On Comps Increase
Kohl’s Corp. on Thursday reported comparable sales for November and December 2018 combined. On a shifted basis, which compares the nine weeks ended January 5, 2019 and January 6, 2018, comparable sales for the Holiday period increased 1.2 percent.
Macy’s Cuts Guidance On Weak Holiday Sales
Macy’s slashed its outlook for profit, sales and gross margin, citing a weakening in sales in late-December. The company reported holiday-period same-store sales growth of 0.7 percent, compared with 1.0 percent growth in the same period a year ago.
JCPenney Sees Drop In Holiday Sales
J. C. Penney Company Inc. announced that its comparable store sales for the combined nine-week period ending January 5, 2019, decreased 3.5 percent on a shifted basis. On an unshifted basis, comparable sales decreased 5.4 percent.
Dakine Appoints David Orr To Global General Manager
Dakine Equipment LLC—a division of JR286 Inc., in partnership with Marquee Brands—on Wednesday announced the appointment of David Orr as global general manager. A veteran in the outdoor and sporting goods industries, Orr will be responsible for leading all aspects of product creation, sales and operations for Dakine.
Zumiez Inc. Raises Q4 Outlook On December Comp Increase
Zumiez Inc. on Wednesday raised its fourth-quarter outlook based on comparable sales increasing 4.9 percent for the five-week period ended January 5, 2019, compared to a comparable sales increase of 7.9 percent for the five-week period ended December 30, 2017.
La Sportiva Apparel Joins 1% For The Planet
La Sportiva on Wednesday announced its membership in 1% for the Planet. By donating 1 percent of apparel sales revenue globally to approved environmentally focused non-profit partners, La Sportiva demonstrates its commitment to sustainability and concern for the environment, on which the outdoor industry depends.
SFIA Hires New Managing Director Of Sponsorship
The Sports & Fitness Industry Association (SFIA) announced a new addition to the organization, Rick Salomone, who will be responsible for leading and expanding the SFIA sponsorship program. Salomone previously served as the CEO of Surys, a company rooted in holographic science, aiming to provide authentication solutions and reduce counterfeiting of products.
Sears Gets Another Reprieve From Liquidation
Sears has accepted Eddie Lampert’s bid to acquire the company to stave off a liquidation although the bid now requires Sears chairman to deposit $120 million by 4 p.m. Wednesday through his ESL Investments hedge fund.
New Balance Plans Facility In Methuen, MA
New Balance Athletics plans to open to open an advanced manufacturing facility in Methuen, MA.
