SGB Update Apparel
Report: Golf Apparel Sales Weaken in August, Led by Headwear
Golf Datatech reported that golf apparel sales were down in on- and off-course specialty stores for the second straight month in August, falling by 3.5 percent after a 3.6 percent drop in July. The July decline was the first decrease in 18 months
Pitney Bowes Survey Sees Steady Online Growth This Holiday Season
Pitney Bowes’ BOXpoll survey found that despite conflicting economic indicators, 80 percent of consumers plan to buy online more or the same this coming holiday season as last year.
Canada Goose Product Chief, APAC Head Depart as Company Adds to Board, Hires CTO
The company said Chief Product Officer Woody Blackford and APAC President Paul Cadman have both departed. Josh Bekenstein also made the decision to resign from the Board. Canada Goose hired a new CTO and added two new members to its Board, effective immediately.
Lululemon and Peloton Ink Five-Year Strategic Global Partnership
As part of the partnership, Peloton will become the exclusive digital fitness content provider for Lululemon, and Lululemon will become the primary athletic apparel partner to Peloton.
Next Level Apparel’s Founder Returns as Interim CEO
Next Level Apparel, based in Torrance, CA, said its founder, Joe Simsoly, had been appointed interim CEO following the departure of Randy Hales.
Liberated Adds Billabong, RVCA and Honolua to Licensee Portfolio
ABG entered into a new long-term agreement with Liberated Brands to be the retail and e-commerce operator for its newly acquired brands Quiksilver, Billabong, Roxy, RVCA, Honolua and Boardriders in the U.S. and Canada.
Acushnet Holdings Corp. Earns BB Credit Rating On New Debt Offering
S&P Global Rating signed a BB’ issuer credit rating and stable outlook to Titleist’s parent Acushnet Holdings Corp.’s planned offering of $350 million of senior unsecured notes. The rating reflects S&P’s expectation that Acushnet’s sales and profits will remain steady over the next year as post-pandemic golf activity decelerates, albeit at levels above pre-pandemic levels.
Players World of Sports Gets New Owners
Players World of Sports, the retailer of tennis and pickleball products based in Hilton Head, SC, was acquired by Daryl and Kathy Daye of Bluffton, SC, and Jeff and Heather Yakes of Hardeeville, SC.
Amazon Faces Antitrust Lawsuit from FTC, U.S. States
The Federal Trade Commission (FTC) and a bipartisan coalition of 17 state attorneys general sued Amazon over violations of anti-competitive behavior. The lawsuit alleges the e-commerce giant’s practices are anti-competitive in how it serves shoppers as well as third-party sellers on the site.
NRF Report Finds Crime Cost Retailers $112 Billion in 2022
According to the 2023 National Retail Security Survey* published by the National Retail Federation (NRF), retailers have seen a dramatic rise in theft-related financial losses, with shrink accounted for $112.1 billion in losses, up from $93.9 billion in 2021.
Costco’s Q4 Profits Climb 15 Percent
Costco Wholesale Corp. reported earnings rose 15.4 percent in its fiscal fourth quarter ended September 3 as sales gained 9.4 percent. Same-store sales in the U.S., excluding the impact of gas prices, were up 3.1 percent.
U.S. Consumer Confidence Slides to Four Month Low
The Conference Board’s Consumer Confidence Index dropped to a four-month low in September, weighed down by rising interest rates, still-high inflation and a stalemate over the federal budget in Washington.
Target Closing Nine Stores in Four Markets Due to Theft, Safety Concerns
Target said in a statement it is closing nine stores in four states, including one in East Harlem, NY, three in San Francisco, two in Portland, OR and two in Seattle, WA, suggesting that theft and organized retail crime have threatened the safety of its employees and customers.
Nordstrom To Open Another Rack Store in New York
The 24,000-square-foot Bay Shore store will be located on the South Shore of Long Island at the Gardiner Manor Mall with other retailers, including HomeGoods, Barnes & Noble, Michaels, and Old Navy.
Arc’teryx Re-Opens Newbury Street Store
Arc’teryx reported it re-opened its Boston retail store in the Newbury Street shopping district.
