August 29, 2024 Lululemon Lowers Guidance, Vows to Improve Product
The Lulunatics’ much-publicized bottoms misstep that led to Breeze Through leggings being pulled off the market had a minor impact, but an overall lack of newness in women’s apparel hurt Q2 sales, which increased just 7% to $2,371,078,000 from $2,209,165,000 and were flat in the U.S. year-over-year. Birkenstock Gains Powered by Wholesale
Net income was up 18% at the footbed sandal maker for the fiscal third quarter ended June 30, hitting €74,640,000 ($68.8 mm) up from €63,102,000 on 19% higher revenue of €564,758,000 ($520.8 mm) against €473,185,000. Athleta Expects Return to Growth in H2
Gap, Inc.’s women’s activewear brand comped down 4% in the second quarter, as sales contracted by 1% to $338 million from $341 million in what GPS expects will be the banner’s last down quarter. Symphony’s Cuts Losses, but Revenue Slip
The Hong Kong-based retailer, brand licensor and real estate owner’s net loss narrowed in the first half to a loss of HK$26,681,000 ($3.4 mm) compared to a loss of HK$91,066,000 last year. Pegasus’ Footwear Business Improves in H1
The footwear maker’s net income declined 44% in the first half to $165,000 from $297,000, despite sales inching up 5% to $3,232,000 from $3,085,000, as high interest rates and inflationary pressures resulted in shrinking market demand.
The Oboz founder and longtime outdoor industry veteran passed away last week after a multi-year battle with various cancers. He was 77. Etcetera: PacSun, Kizik, LAX Ammo, Topgolf, Under Armour, Fanatics, Nike
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