Stitch Fix Posts 20 Percent Sales Decline In Fiscal Q2; CFO To Exit
Stitch Fix, Inc. reported a loss of $65.6 million in the fiscal second quarter ended January 28 as sales declined 20 percent.
A.k.a. Brands Sees Q4 Sales Fall 18 Percent; CEO To Take Medical Leave
A.k.a. Brands Holding Corp, the parent of Princess Polly, Culture Kings, mnml and Petal & Pup., reported sales decreased 18.3 percent in the fourth quarter, to $149.1 million, compared to $182.4 million in the fourth quarter of 2021. Currency-neutral sales were down 13 percent.
Report: Shein Exploring IPO
Shein, the Chinese-based online fashion retailer, intends to raise about $2 billion in a new funding round in March and is aiming for a U.S. initial public offering listing in the second half of this year.
Wahoo Fitness Integrates Elemnt Range With Trailforks Mapping App
Wahoo Fitness reported integrating its Elemnt range of GPS bike computers with Outside Interactive, Inc.’s Trailforks mapping app.
Beachbody Changes Name To BODi; Hires Vice President
The Beachbody Company, Inc. changed its name from Beachbody to BODi, reflecting the digital platform’s recently founded Health Esteem category. Petra Kolber was hired as vice president of Personal Development and Mindset
Johnson Fitness & Wellness To Open 17 Stores In Texas
Johnson Fitness & Wellness, the retail division of Taiwan-based Johnson Health Tech, reported it would open 17 stores in major metro markets in Texas and a commercial sales and service division.
Report: U.S. Retail Sales Climb 6.9 Percent In February
According to Mastercard SpendingPulse, U.S. retail sales excluding automotive were up 6.9 percent year-over-year (YOY) in February.
Pura Vida Sees Slight Sales Decline In Fourth Quarter
Fourth-quarter sales at Pura Vida, the online seller of handmade bracelets, declined 4.2 percent to $30.9 million, according to the quarterly report of its parent, Vera Bradley.
NRF Opposes Corporate Tax Rate Increase In Biden Admin Budget
The National Retail Federation has issued the following statement from SVP of Government Relations David French in response to President Biden’s proposed budget for fiscal year 2024.
Banks To Pause Implementation Of New Merchant Code For Firearms Retailers
NSSF, The Firearm Industry Trade Association, said it is encouraged by the announcement from Visa and MasterCard that the companies will “pause” plans to implement a special Merchant Category Code (MCC) specific to purchases at firearm retailers with their credit cards.
Allbirds Hires New CFO
Allbirds hired Annie Mitchell as CFO, effective April 24. She succeeds Mike Bufano, who is stepping down and will remain with the company through mid-May to ensure a smooth transition.
Yeti Recalls 1.9 Million Coolers And Cases For Magnet Hazard
Yeti has recalled 1.9 million soft coolers and gear cases because of magnets that could detach and be ingested. The magnet-lined closures on Yeti’s Hopper M20, Hopper M30 1.0 and 2.0, and SideKick Dry products can fail and the magnets can be dislodged, according to the U.S. Consumer Product Safety Commission.
Yue Yuen Factory Revenue Declines Moderate In February; China Retail Worsens
Yue Yuen Industrial (Holdings) Limited net consolidated operating revenue for February 2023 came in at $603.8 million, representing a 6.9 percent decline versus the year-ago February period.
The Buckle Delivers Modest Q4 Profit Growth On 4.6 Percent Comp Sales Gain
The Buckle reported earnings improved 4.6 percent in the fourth quarter ended January 28 as sales expanded 5.5 percent.
Peloton, IFit Face U.S. Import Ban Over Streaming Technology
The U.S. International Trade Commission (ITC) banned imports of video streaming fitness devices made by Peloton Interactive, Inc. (PTON.O) and iFit, Inc after a judge ruled the company’s infringed on Dish Network Corp. (DISH.O) patents.
