September 14, 2023
Early forecasts are projecting mid-single-digit sales growth for the Holiday season, moderated by easing inflation that drove last year’s top line gains but seeing some boost from a pull back on services and experiences spending that siphoned dollars away from goods.
Following a sensational Q2 in which revenues and net income both grew by 18%, that momentum continued into Back-to-School, LULU said at the Goldman Sachs Global Retailing Conference.
Adjusted sales of sporting goods/hobby/book and music stores slipped 1% last month to $8,550 million from $8,669 million, and dropped nearly 2% sequentially, according to Commerce Dept. data.
The streetwear chain elevated twenty-year company veteran, Todd Kirssin to CEO, taking over the role that was jointly held by Scott Collins, who stepped down last year, and Glenn Gaynor, who will exit the retailer in March, WWD first reported.
The Swedish fishing apparel and footwear brand hired Nicolas Cederström Warchalowski as its new chief, based in Grundéns’ U.S. office in Poulsbo, WA.
Following the completion of its acquisition by Authentic Brands Group, the ratings agency withdrew all of its ratings on Boardriders, including its Caa2 corporate family rating and ratings on its debt.
The Crocs-owned brand agreed to pay $1.95 million to settle Federal Trade Commission charges that it misled consumers by suppressing negative reviews, including more than 80% of those that failed to provide four or more stars.
Xingdetui Outdoor has refused to recall its Kopobob kids multi-purpose helmets, so the CPSC is warning consumers not to use them as the helmets don’t comply with impact attenuation and certification requirements.