On’s Sales Surge 60 Percent Currency-Neutral In Second Quarter
On Holdings reported adjusted EBITDA nearly doubled in the second quarter as sales vaulted 52 percent (60 percent on a currency-neutral basis). Sales in the Americas region jumped 59.8 percent. On again lifted its full-year sales guidance, implying a full-year growth rate of 44 percent and a second half-year growth rate of close to 30 percent. On Holdings forecast for EBITDA margin was maintained.
Nikwax Names New Global CEO
Nikwax promoted Brian Davidson to CEO of its global business. Davidson will retain his position as president of Nikwax North America.
Study: Luxury Retailers Brace for Rise in Losses to Theft and Security Issues
A new global research survey asked luxury retailer senior executives with a total annual turnover of $3.1 billion across the U.S., South America, Europe, Africa, and Asia revealed that 62 percent expected a rise in losses to theft over the next three years.
Amazon Eliminates Dozens of In-House Brands
Amazon pruned a wide range of private brands to exit weaker performers. The move is timed with the retailer facing antitrust scrutiny involving the expansion of its in-house labels.
TruFit Athletic Clubs Opens Second TN Location
TruFit said it is solidifying its presence in the Tennessee fitness industry with the opening of a Madison, TN location and will introduce two additional locations—a third in Donelson and the fourth in Murfreesboro—this year.
Blain’s Farm & Fleet Names New President
Blain’s Farm & Fleet, a family-owned company for 68 years, promoted Mark Hasting to president, the first time a non-family member has held the position, in addition to his chief commerce and operating officer role. Jane Blain Gilbertson, the owner of Blain’s Farm & Fleet and Blain Supply, Inc., will remain CEO.
Madewell Names President
J.Crew Group appointed Adrienne Lazarus as president of its Madewell brand, effective next month. Most recently, Lazarus was the co-CEO of CUUP, a direct-to-consumer intimates brand newly acquired by FullBeauty Brands.
InHome Golf Studio and Simulators Opens Showroom in Miami
InHome Golf Studio and Simulators opened a showroom in Miami, FL. The company also has showrooms in Lyndhurst, NJ, where it is based, and Mississauga, Ontario, Canada.
Tapestry, Inc. Acquires Capri Holdings in $8.5 Million Deal
This acquisition brings together the Coach, Kate Spade, and Stuart Weitzman brands owned by Tapestry with the Versace, Jimmy Choo, and Michael Kors brands owned by Capri.
HatClub Expands Retail to LA Market with Melrose District Store Opening
Located in the heart of the Melrose shopping district, the store opened on August 12, marking the retailers second largest location in the U.S. behind its New York flagship store.
Foundation Outdoor Group Adds to Brand Portfolio with Two Acquisitions
The company has acquired Mud Hole Custom Tackle, Inc. and American Tackle Company International, Inc. The company said the move positions the company as the “industry’s largest supplier of fishing rod components, supplies, equipment, and rod building instruction.”
La Sportiva Acquires Majority Stake in Meet Italia
La Sportiva reported it acquired a majority stake in the Veneto-based company Meet Italia, a manufacturer that produces Made in Italy mountain footwear and with a strategic partner that has been in place for over twenty years.
Asics North America Delivers Seventh Straight Quarter of Double-Digit Online Growth
Asics North America reported positive growth in the second quarter was boosted by double-digit growth in Sportstyle and Core Performance Sports categories across the region and marked by the region’s seventh consecutive quarter of double-digit e-commerce growth.
Canada Goose’s Debt Ratings Upgraded on DTC Focus/China Rebound
S&P Global Ratings raised its credit ratings on Canada Goose as it sees a continued focus on the higher-margin, direct-to-consumer segment and recovering sales in China helping the outerwear maker’s performance going forward.
Rally House Announces Multiple College Town Store Openings
Rally House plans to open a store in Lexington, KY this summer and stores in Merrillville, IN and College Station, TX this fall.
