January 17, 2017
The West Coast retailer, perhaps the most direct beneficiary of the shutdown of Sports Atrocity and Sport Chalet, said comp store sales for the final quarter ended Jan. 1 rose 3.1% with a 70 b.p. expansion in merchandise margins.
The President Elect told the Wall Street Journal that the border-adjusted tax was “too complicated” and could result in a “bad deal.”
JCP has rolled out the Swoosh-adorned 500-sq.-ft. concept shops in the men’s department in 600 of its stores after Nike nemesis Under Armour reached a deal last year with Penney enemy Kohl’s.
Stella International sales declined 10% in the final quarter to $356.2 million from $396.6 million, pulled down by footwear sales that fell 12% to $342.0 million from $389.2 million.
The two cleat makers will combine into MacNeill Pride Group, based in PrideSports’ existing offices in Brentwood, TN, but will maintain separate brand identities for their Champ and Softspikes lines.
Goldberg Law said it is investigating the outdoor maker following its announcement last week that it is anticipating a $400-450 million impairment charge against its hunting and shooting business during the next quarter.
The veteran exec will oversee all aspects of the brand’s €440 million ($466 million) footwear business, reporting to Salomon president Jean-Marc Pambet.
Sew Sporty acquired women’s apparel line Stonewear Designs from Great Trango Holdings.