SGB Update Apparel
Strong Back-To-School Period Drives Zumiez Comps In Q3
Zumiez Inc. on Thursday reported total net sales for the third quarter ended November 3 (13 weeks) increased 1.2 percent to $248.8 million from $245.8 million in the quarter ended October 28, 2017 (13 weeks). Comparable sales for the 13 weeks ended November 3 increased 4.8 percent compared to a comparable sales increase of 7.9 percent for the 13 weeks ended October 28, 2017.
Lululemon Athletica Shares Dip Despite Q3 Beat
Shares of Lululemon Athletica Inc. fell around 5 percent in after-hours trading Thursday after the company reported adjusted diluted earnings per share for the third quarter of 75 cents, up from 56 cents for the third quarter of fiscal 2017 and ahead of Wall Street targets by 6 cents. A weak outlook for the fourth quarter took a toll on the company’s stock, which had closed the day down $2.18, or 1.6 percent.
5.11 Opens Store In Indianapolis
Tactical apparel and gear brand 5.11 has opened a brick-and-mortar retail store in Indianapolis, IN, providing another building block to 5.11’s 2018 retail expansion goal of 50 company-owned retail stores.
G-III Apparel Lifts Outlook On Improved Q3
G-III Apparel Group, Ltd. reported earnings rose 15.6 percent in the third quarter on a 4.7 percent revenue gain.
Duluth Trading’s Q3 Sales Expanded 27 Percent
Duluth Holdings Inc., the parent of Duluth Trading, reported a wider loss in the third quarter but they were in line with expectations. Sales grew 27.4 percent.
Shopko Closing 39 Stores
Shopko confirmed that plans to close 39 of its 363 stores by the end of February. Bloomberg reported that the Wisconsin-based retailer was making preparations for a bankruptcy filing.
Genesco Tops Wall Street Targets On Accelerating Comps
Genesco Inc. reported third-quarter earnings topped Wall Street’s consensus target as comps increased to their highest level in more than two years driven by the ongoing strength at Journeys and Johnston & Murphy. While still negative, sales trends at both Lids and Schuh continued to improve. The company narrowed its guidance for the year.
Buckle’s Comps Dip In November
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended December 1, 2018 decreased 0.6 percent
VF Corp. Announces Name For Jeanswear Spinoff
VF Corporation announced that Kontoor Brands, Inc. will be the name of the independent, publicly traded company that will result from its previously announced separation of VF’s Jeanswear organization.
VF Corp To Open London Office
VF Corporation will open a new office in the heart of London’s Soho next Spring to help fuel growth in the U.K. market.
Moody’s Assigns Debt Ratings To Callaway Golf’s Term Loan
Moody’s assigned a Ba3 rating to a proposed $480 million senior secured term loan will be used to fund the acquisition of Jack Wolfskin.
Dolfin Swimwear Signs World Championship Medalist Zane Grothe
Dolfin Swimwear announced the signing of U.S. National Team member, World Championship medalist, and 2020 Olympic prospect Zane Grothe as an endorser.
Marquee Brands Acquires Dakine
Marquee Brands LLC announced that it has acquired the Dakine brand and all related intellectual property. In conjunction with the acquisition, Marquee Brands has entered into a long-term license agreement with JR286, which has acquired the operating assets of Dakine and will become Marquee Brands’ long-term operating partner for the brand.
ISA TanTec Progresses With The Expansion Of Existing Saigon Facility
Following the recent opening of its Saigon Showroom, ISA TanTec, an international eco-friendly leather manufacturer, reports on the progress of the further expansion of its existing tannery Saigon TanTec in Binh Duong province in order to meet the growing demand for its eco-friendly LITE leather.
Newell Brands Announces Tender Offers For $1.5 Billion Of Outstanding Debt
Newell Brands Inc. commenced debt tender offers to purchase for cash of $1.5 billion in debt. The company expects to fund the tender offers with the proceeds from divestitures under the company’s Accelerated Transformation Plan (including the divestitures of the Pure Fishing and Jostens businesses, if consummated), together with available cash on hand.
