SGB Update Apparel
Foot Locker’s Q2 Beats Street
Profits at Foot Locker Inc. jumped 72.5 percent in the second quarter, exceeding expectations. Same-store sales inched up 0.5 percent, improving from a decline of 2.8 percent seen in the first quarter, and stronger growth continues to be expected for the second half.
Hibbett Sports Lowers Full-Year Outlook On Soft Q2
Hibbett Sports narrowed the company’s loss in the second quarter as same-store sales grew 4.1 percent. Wall Street, however, was expecting a profit and the retailer lowered its guidance for the year.
Sears Holdings To Close 46 Stores
Sears Holdings plans to close another 46 unprofitable stores this year including 13 Kmart and 33 Sears stores.
U.S., China Escalate Trade War With New Round Of Tariffs
The United States and China went ahead with tariff hikes on billions of dollars of each other’s automobiles, factory machinery and other goods Thursday in an escalation of a battle over Beijing’s technology policy that companies worry will chill global economic growth.
Adidas Partners With Coahoma Community College
Adidas has signed a three-year sponsorship deal with Coahoma Community College in Clarksdale, MS.
Sportsman’s Warehouse’s Q2 Slightly Tops Guidance
Sportsman’s Warehouse Holdings reported adjusted earnings in the second quarter ended August 4 rose 18.2 percent, thanks to 6.2 percent top-line growth and reduced debt and tax expenses. Earnings were a penny above expectations while sales were at the top-end of guidance.
AAFA Again Urges Swift Resolution To Tariff Dispute
At the public hearings being held this week in Washington, D.C. over the latest round of proposed tariffs, the The American Apparel & Footwear Association (AAFA) reiterated the association’s call for a swift resolution and warned any additional tariffs would harm U.S. workers, companies, consumers and communities.
Nike Closes Stores In South Africa After Backlash Over Racist Video
Several Nike stores in South Africa have been closed after the online circulation of a video featuring an employee’s husband making racist remarks, according to a report from Reuters.
Urban Outfitters’ Profits Soar In Q2
Boosted by a 13 percent hike in comparable store sales, Urban Outfitters Inc. reported second-quarter profits rose 85.9 percent to $92.8 million, or 84 cents a share, exceeding Wall Street’s consensus estimate of 77 cents.
Champion Athleticwear Debuts New Retail Store In New York City
Athletic apparel company Champion Athleticwear has expanded the company’s retail footprint with a second U.S. retail specialty store opening in New York City, at 434 Broadway.
REI Co-Op Extends Used Gear Digital Platform
REI Co-op is reaffirming the company’s commitment to sustainable, affordable pre-loved gear for customers, with a refreshed used gear website featuring new brands and more product categories available for purchase and a series of member-to-member gear swaps and a team of employees dedicated to getting lightly used products in the hands of more customers.
Target Scores Best Quarterly Comp In 13 Years
Target Corp. reported second-quarter earnings that topped Wall Street’s targets on comparable sales growth of 6.5 percent and traffic growth of 6.4 percent. The discount giant lifted its guidance for the year.
Gander Outdoors Sets Grand Opening In Plattsburgh, NY
Gander Outdoors, formerly known as Gander Mountain, is now open in Plattsburgh, NY. A grand opening event is planned for Saturday, August 25, 2018 at 60 Smithfield Boulevard. The 43,000-square-foot location is one of five facilities in the state.
J.C. Penney Launching Shaquille O’Neal Big & Tall Line
Building on the company’s partnership with NBA legend and television personality Shaquille “Shaq” O’Neal, J.C. Penney is unveiling an all-new, exclusive big & tall brand, Shaquille O’Neal XLG.
Nike Criticized For Selling ‘Menacing’ Balaclava
Nike Inc. has been taking a lot of heat on social media for selling a black balaclava that looks “menacing” and could incite gang violence, according to critics.
