SGB Update

Nordstrom Delivers 19 Percent Growth In First Quarter

Nordstrom reported sales in the first quarter grew 18.7 percent with sales ahead 23.5 percent for the Nordstrom banner and 10.3 percent for Nordstrom Rack. Core categories including men’s and women’s apparel, shoes and designer had the strongest growth as consumers updated wardrobes for the return of social events, travel and return to office.

Caleres Lifts 2022 Outlook As Momentum Continues In Q1

Caleres, Inc. raised its 2022 sales and earnings per share guidance after delivering its strongest first-quarter performance for sales, gross profit margins and earnings. Famous Footwear’s sales were down 3.4 percent, but the off-price chain achieved another quarter of strong gross profit margin.

Grassroots Outdoor Alliance Appoints President

Grassroots Outdoor Alliance has hired Gabe Maier as president. Maier has worked with the GOA for six years, including two years as a business analyst and four years as vice president). Most recently, he was the director of business development for BrandKeep.

Moody’s Outlook For U.S. Retail And Apparel Industry Cut To Negative

Moody’s Investors Service has lowered its outlook from stable to negative for the US retail and apparel industry. The rating agency said inflation, geopolitical risks, supply chain challenges and falling demand point to broad profit declines, and operating margins will erode across every subsector.

Stitch Fix Appoints Chief Marketing Officer

Stitch Fix, Inc. announced Debbie Rose Woloshin is joining the company as chief marketing officer. Woloshin was previously the chief marketing officer at Marc Jacobs.

Varsity Brands’ Debt Ratings Upgraded

S&P Global Ratings upgraded the debt ratings of Varsity Brands Holding Co. Inc. as the company’s financial performance continues to improve as it recovers from COVID-19 pandemic lows.

Cotopaxi Appoints President

Cotopaxi announced it appointed Damien Huang as president of the company reporting to CEO and Founder Davis Smith. Huang was, most recently, CEO of Eddie Bauer.

Puma Opens Virtual Place On Roblox

Puma launched a sports-based experience on Roblox, the online gaming platform where participants compete in mini-games and training activities.

Nautilus Sales Fell 41 Percent In Fiscal Fourth Quarter

Nautilus Inc. reported sales were down 41.9 percent in the fourth quarter ended March 31. Sales grew 28 percent versus the fourth quarter of 2020 or 41 percent excluding the sold Octane business. The company lost money in the quarter but expects to achieve positive adjusted EBITDA for the second half of the current fiscal year.

Ebay To Open First Sneaker Store In Los Angeles

Ebay’s “Wear ‘Em Out” sneaker store is scheduled to open on Fairfax Avenue in Los Angeles this Memorial Day weekend. It is the e-tailer’s first retail store devoted to sneaker sales.

Five Iron Golf Tees To Open In Cleveland

Five Iron Golf signed a lease at 1101 Euclid Avenue in Euclid Grand, OH, occupying approximately 16,000 square feet of ground-floor retail space; this is its second location in Ohio and the seventh in the Midwest with three current Chicago locations and two more in development in Michigan.