August 20, 2019
Although sales and earnings were down for the second quarter ended Aug. 3, KSS said the Active department continued its run of positive comps with a mid-single-digit increase in apparel led by Nike, Under Armour and Adidas.
After opening four Sierra doors in the first quarter, parent TJX kept the fleet at 39 stores through Q2 before resuming new openings in July. Total square footage at quarter end was 0.9 million.
The Chinese brand reported a 20% increase in comprehensive net income attributable to shareholders in H1 of RMB 370,810,000 ($54.3 mm), up from RMB 310,174,000, on 7% higher revenues at RMB 3,236,783,000 ($474.0 mm) against RMB 3,016,853,000.
The brand that styles itself as Lululemon but a men’s brand has said it had sales of about $20 million last year and growth rates in the 125-160% range in recent years since its startup in 2015 with $300,000 in seed money.
After filing suit against Adidas and the Brooklyn Nets last week, Milkcrate Athletics is now also suing Under Dog in So. NY District Court for trademark infringement.