November 03, 2023
Net loss expanded in the fiscal first quarter ended Oct. 1 to $13,270,000, from a loss of $7,834,000 last year, on 23% lower revenues of $138,844,000 down from $179,519,000 due to weak apparel demand from brands and retailers.
Holiday sales are expected to reach record levels during Nov., and Dec., growing between 3% and 4% year-over-year to between $957.3 billion and $966.6 billion, according to a National Retail Federation forecast.
The privately held yoga apparel company founded in 2007 and owned by Los Angeles-based Color Image Apparel, is reportedly exploring the securement of a major investment at a $10 billion valuation.
Murf is recalling about 9,000 electric bicycles because the brake levers are reversed right and left, violating the U.S. safety standard.