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Dorel Earnings Warnings Signals Lower Profits in IBD Channel
Dorel Industries lowered earnings at its bike segment, saying growing discounting by competitors in the independent bike dealer *(IBD) channel was eroding the top and bottom lines at Cycling Sports Group, which sells Cannondale, GT, Mongoose and Schwinn bikes and Cannondale and Sugoi footwear and apparel...(6/15/2013)
Intersport Plans Massive Global Expansion of The Athlete’s Foot
Intersport International Corp. GmbH plans to more than triple the number of The Athlete’s Foot stores to 1,500 by 2025, the company’s CEO said last week...(6/15/2013)
Sustainable Apparel Coalition Solicits Feedback on Materials Index
The Sustainable Apparel Coalition (SAC) launched an online tool last week aimed at helping the world’s leading apparel and footwear companies better understand how their products will scored by a its sustainability index...
CEO Christine Day’s Plan to Step Down Sends Lululemon Stock Plunging
Lululemon Athletica CEO Christine Day’s announcement that she will step down as CEO as soon as her board can find her successor prompted a selloff of the company’s stock last week that did far more damage than the company’s March recall of its iconic black yoga pants...(6/14/2013)
VF Targets $17 Billion In Revenue By 2017
At its annual investor meeting last week, VF Corp. established a revenue goal of $17.3 billion by 2017, representing a five-year compounded annual growth rate (CAGR) of 10 percent, with 8 percent organic growth and 2 percent growth anticipated from acquisitions. VF also announced its earnings per share target of $18.00 for 2017, representing a five-year CAGR of 13 percent...
Retail Sales Show Slight Gains in May
May retail sales (excluding automobiles, gas stations and restaurants) increased 0.6 percent seasonally adjusted from April and increased a 4.8 percent unadjusted year-over-year, according to the U.S. Department of Commerce...(6/14/2013)
REI Kills Life-time Return Policy, Citing Uptick in Returns of Dated Merchandise
Internal inconsistency and the growth of social media likely contributed to an uptick in product returns at Recreational Equipment Inc. that prompted the retailer to kill its lifetime return policy last week...
Surftech LLC Sells Minority Stake to Long-Time OEM Partner in Thailand
Surftech LLC has agreed to sell a minority stake to Cobra International Co. Ltd, its long-time manufacturing partner in Thailand in a move that will provide it preferred access to one of the world’s largest manufacturers of composite watercraft amidst a boom in stand-up paddling...(6/8/2013)