In today’s top retail news, Canada Goose reported surging total revenue and triple-digit eCommerce growth, while YETI posted soaring net sales. Plus, Walmart announced that it will acquire Zeekit.
High-end clothing maker Canada Goose reported that total revenue soared by approximately 48 percent to $208.8 million in Q4 fiscal 2021 from $140.9 million in Q4 fiscal 2020. “With triple-digit eCommerce growth and a resilient retail performance despite disruptions, we served our global consumer base through agile and flexible D2C distribution,” President and CEO Dani Reiss said in an earnings press release.
YETI reported that net sales surged by approximately 42 percent from $174.4 million in the three months concluding on March 28, 2020 to $247.6 million in the three months concluding on April 3, 2021. As for its overall results, the outdoor products company reported 38 cents in adjusted net income per diluted share, marking an increase from 11 cents in the prior year quarter.
Walmart announced on Thursday (May 13) that it will purchase Zeekit, the digital fitting room company, with the aim of strengthening its efforts on the online shopping front in addition to the fashion front. “Zeekit will help us deliver an inclusive, immersive and personalized experience for our diverse customer base,” Denise Incandela, EVP of apparel and private brands at Walmart U.S., wrote in an announcement.
The flourishing secondhand apparel resale business received a double dose of optimism from two different reCommerce platforms on Wednesday (May 12), with thredUP in addition to Poshmark informing investors that they were anticipating higher sales as the economy keeps opening again in the second quarter and in the future. thredUP CFO Sean Sobers told investors, that “in the next few weeks and months, we believe more people will get out of their homes, reconnect socially and travel with a desire to refresh their wardrobes.”