Pier 1 Q1 same-store sales up 7.2%
FORT WORTH, Texas — Pier 1 reported that same-store sales rose 7.2% in the first quarter, helped by strong holiday assortments. First-quarter revenue was up 8% to $361 million, beating Wall Street’s estimate of $360.7 million.
President and CEO Alex Smith said Thursday that the shoppers have been buying the retailer’s Easter, spring, Mother’s Day and Memorial Day products.
LIDS Sports Group in retail agreement with University of Florida
Indianapolis — LIDS Sports Group has reached an agreement with the University of Florida to operate and manage the official team stores for the Florida Gators. This includes two primary locations within “The Swamp,” as well as other special event concessions for the University’s baseball, basketball, and gymnastics athletic programs, among others.
Through this agreement, the former Florida Gators Sports Shop will be rebranded as the Gator Locker Room. In addition, the company will leverage its current LIDS Locker Room locations in the state of Florida to incorporate Gator Locker Room merchandise.
Sycamore and Talbots sew up $193 million deal
Hingham, Mass. — After announcing that talks between private equity firm Sycamore Partners and Talbots had ended, then issuing an update that negotiations had resumed but without exclusivity, the pair said Thursday that a deal has been struck.
Sycamore Partners is acquiring the apparel retailer for approximately $193.3 million, according to Thursday’s announcement.
Including debt, the deal is valued at close to $369 million.