Target’s Q2 EPS Misses Wall Street Targets
Target Corp. reported a steep decline in earnings due to planned markdowns to support the chain’s inventory reduction efforts. Total sales grew 3.3 percent due to steady traffic growth on top of unprecedented increases over the last two years. The discounter maintained its guidance for the year.
Murf Electric Bikes Hires Marketing Director
Murf Electric Bikes hired Ally Losness as marketing director, bringing over a decade of brand launch and growth experience to the position.
TJX Trims Outlook For Year After Q2 Sales Shortfall
The TJX Companies, Inc. reported second-quarter earnings came in at the high-end of guidance but U.S. same-store sales missed plan. The off-price chain increased its full-year pretax profit margin outlook but overall lowered its sales and earnings guidance.
Allbirds Adds Former Nike Exec To Board
Allbirds, Inc. added Ann Freeman to its board of directors, effective August 16, 2022. Freeman was vice president and general manager, North America, for Nike.
PXG Opens First Custom Build And Distribution Center In U.K.
PXG recently opened its first custom build and distribution center in the United Kingdom.
Authentic Brands Group To Acquire Ted Baker
Authentic Brands Group has struck a deal to buy U.K. fashion chain Ted Baker for about $254 million.
Lids Opens First Store In Australia
Lids opened its first NBA store in Melbourne, Australia, with plans to open a second store in Sydney, Australia, later this year.
Nobull To Become NFL’s Combine Apparel Supplier
The National Football League said Nobull will become the league’s official scouting Combine training partner and on-field supplier of apparel and headwear. The change comes a year after New Era replaced Under Armour as the sponsor.
Kidpik’s Sales Slide In Second Quarter
Kidpik Corp., the online clothing subscription-based e-commerce company, reported sales of $3.8 million in the second quarter ended July 2, a year-over-year decrease of 33.4 percent.
Canada’s MEC To Launch On TheBay.com And Shop-in-Shops Inside Hudson’s Bay
Hudson’s Bay and Mountain Equipment Company (MEC) announced the launch of MEC shop-in-shops in three Hudson’s Bay GTA locations, including Yorkdale and Square One Shopping Centres and its flagship store on Queen Street in Toronto.
Fleet Feet Opens Second Location In Fort Wayne
Fleet Feet announced the opening of its latest store in Fort Wayne North, IN. This is the second Fleet Feet in Fort Wayne and the ninth store in Indiana.
Signa Sports Sales Climb 29 Percent In Q3
Signa Sports United N.V. (SSU) reported sales in its third quarter ended June 30 grew 29 percent, boosted by the full contribution of recently acquired businesses WiggleCRC and Tennis Express. The Berlin-based online platform reduced its guidance for the year due to continued supply chain challenges and weaker consumer spending.
Macy’s Elects Board Member
Macy’s, Inc. elected Emilie Arel, president and chief executive officer of Casper Sleep, to its board of directors, effective August 15, 2022.
Academy Sports Opens First Store In Virginia
Academy Sports + Outdoors announced the opening of its first Richmond, VA. The 58,075-square-foot store is located at 11861 W. Broad Street in The Corner at Short Pump.
Li Ning’s Sales Climb 22 Percent In First Half
Li Ning Company, Ltd. reported net income grew 11.6 percent in the half ended June 30 on a 21.7 percent revenue gain. The improvement came despite the “impact of repeated outbreaks of the COVID-19 pandemic and significant increase in raw material prices that led to certain challenges to the operating environment.”
