In today’s top retail news, YETI Holdings, Inc. reported its net sales increased by 26 percent in Q4, while Amazon and Salvatore Ferragamo S.p.A. are suing alleged counterfeiters in joint lawsuits. Plus, DICK’S Sporting Goods is expanding its footprint.
YETI’s Net Sales Jump 26 Pct Amid Robust Demand
YETI Holdings, Inc. announced as part of its Q4 and fiscal year 2020 financial results that net sales jumped by 26 percent in Q4. The outdoor products firm reported that direct-to-consumer (D2C) channel net sales increased by 46 percent to $217.8 million for the three months ended Jan. 2, 2021 in contrast to $149 million in the prior year quarter.
Amazon, Salvatore Ferragamo Sue Alleged Counterfeiters In Joint Lawsuits
Amazon and Salvatore Ferragamo S.p.A. jointly filed two suits against four individuals and three entities for allegedly counterfeiting the latter firm’s items. “The joint action with Amazon underlines how the protection of intellectual property is a priority for Ferragamo and how the company is pursuing the fight against counterfeiting with full awareness and resolution,” Salvatore Ferragamo CEO Micaela Le Divelec Lemmi said in an announcement.
DICK’S Sporting Goods Adds Stores Amid Surge In Home Gyms, Athleisure
The advent of “sweatpant nation” and other pandemic-era lifestyle trends are leading the nation’s biggest sporting goods retailer to grow its footprint. DICK’S Sporting Goods is doubling down on the omnichannel interdependence of its in-store and digital businesses, and said it will add five new locations in five states in February at a time when digital sales have doubled.
Forget Free Coffee; Bumped Says Its Fractional Stock Awards Are Ultimate Loyalty Perk
As increasingly digitized merchants, eateries and other companies are investing heavily in their loyalty efforts to acquire and keep customers, financial technology firm Bumped says its fractional stock awards program beats them all. According to analysis derived from its two-year experimental effort, the ability to “turn everyday spending into investing” has a significant effect on the stores and brands individuals select.
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