March 10, 2020
Net income fell 32% to $69,819,000 from $102,555,000 for the final quarter ended Feb. 1 as sales rose 5% to $2,608,650,000 from $2,492,090,000 with a stronger than expected 5.2% comp store gain.
Champion’s value-priced performance athleticwear line is now an exclusive for the online retail giant after Target declined to extend its contract with HBI for the brand.
Production and logistics impacts from factory shutdowns and travel restrictions in China will see March retail imports fall to just 1.32 million Twenty-Foot Equivalent Units, down 18.3% from last year, according to the NRF’s Port Tracker.
Men’s active apparel sales grew 2% last year, outpacing flat women’s sales in the category, NPD Group reported, estimating the total activewear market at $50.3 billion.
The AAFA, NRF, RILA, USFIA, and FDRA issued a joint letter responding to reports of forced labor and the treatment of Uyghurs and other ethnic minority workers in Xinjiang, China.
The struggling urban athletic apparel brand tapped real estate developer and Northwood Developments partner Cesare Fazari as interim CEO, succeeding Marcello Leone, who will remain on the company’s board.