SGB Update Apparel
Tractor Supply Lowers Guidance On Below-Plan Q3 Revenues
Tractor Supply Company reported earnings improved 8.9 percent in the third quarter but sales came in softer than expected and the rural lifestyle retailer slightly lowered its outlook for the year. Same-store sales were off 0.4 percent due to declines in demand for seasonal goods and big-ticket items.
Krimson Klover Adds New Midwest Territory Reps
Jessica and Adam Guile of Phenix Project LLC will cover the Midwest-Great Lakes region.
Solo Brands CFO To Leave in December
Solo Brands announced that Somer Webb, its CFO, has notified the company of her intent to pursue other opportunities. She will remain with the company until December 10. The company also reaffirmed its guidance for fiscal year 2023.
Grassroots Sees a “Return to Earth” for Specialty Heading into Fall Connect Show
Heading into the upcoming Grassroots Connect in November, GOA retailers reported a flattening of overall sales in the trailing 12 months prior to September, in what the specialty retailer organization is calling “an expected return to Earth.”
Johnnie-O Names 25-Year Patagonia Exec as CEO
Johnnie-O named John Collins as CEO and Board member, succeeding Dave Gatto, who, the company reported, has “played an instrumental role in Johnnie-O’s journey as CEO and Board director since January 2015.” The company also shared that Gatto would retire this year after a “remarkable career, including the nearly nine years he spent building the Johnnie-O brand and positioning it for future expansion.”
Rally House to Open Store In Kansas City
Rally House Barrywoods Crossing is minutes from the KCI Airport in North Kansas City, making it an “ideal destination for K.C. fans and travelers entering the city.”
Stahls’ Acquires Apparel Order Fulfillment Software Company
Stahls’ acquired Fulfill Engine, a software technology company specializing in decorated apparel order fulfillment, supply chain management and e-commerce store integration.
Adidas Confirms Partnership to Outfit Texas Tech
Adidas will replace Under Armour as the uniform supplier for Texas Tech for the 2024 season. Under Armour’s partnership with the University began in 2006.
On Brand to Open Second London Store
On will open its second store in the UK in East London’s Spitalfields Market on November 3. On opened a flagship on Regent Street in February.
Arbor Snow Adds To Sales, Marketing and Product Teams
Arbor Snowboarding, the California-based action sports brand, announces new hires and internal promotions across sales, marketing, and products.
West Marine’s Debt Ratings Upgraded on Out-of-Court Restructuring
S&P Global Ratings raised its debt ratings on Rising Tide, doing business as West Marine, after the marine aftermarket retailer was able to complete an out-of-court restructuring, exchanging previous debt for equity consideration and adding new debt to the capital structure.
Report: VF Corp. Faces Second Activist Investor Threat
VF Corp.’s shares were up about 3 percent in late-afternoon trading on a Bloomberg report that activist investor Legion Partners Asset Management is targeting the company. Legion’s push would follow a move by activist investor Engaged Capital to acquire a stake in VF and call for cost cuts and board changes.
Report: September Golf Rounds Show Uptick
Golf Datatech reported that U.S. golf rounds played were up 1.6 percent year-over-year in September and increased 3.8 percent year-to-date, according to the research firm’s latest National Rounds Played Report for September 2023.
Puma’s Q3 Profits Drop On Currency Effects; Confirms Annual Guidance
Puma’s earnings fell 9.6 percent due to currency headwinds, weakness in North America and higher expenses. However, higher-than-expected revenues due to momentum in Europe, a recovery in China as well as stronger-than-expected margins led the German-based company to reiterate its guidance for the year.
REI To Open Eighth Store In Florida
REI Co-op announced plans to open another new store in Florida on November 10 in Sarasota at University Town Center. The 25,000-square-foot space is the co-op’s eighth store in the state.
