In today’s top retail news, DICK’S Sporting Goods has launched its VRST athletic apparel brand, while Flowspace has raised $31 million in new funding. Plus, retail sales dropped 3 percent in February.
DICK’S Sporting Goods Introduces VRST Clothing Brand
DICK’S Sporting Goods has debuted its VRST athletic apparel brand, which was created for the “modern active man who lives life on the go,” according to an announcement. The collection of apparel encompasses various kinds of joggers, shorts and commuter pants, as well as hooded sweatshirts, quarter-zips and tees. Products in the line span from $30 to $120.
eCommerce Fulfillment Tech Firm Flowspace Notches $31 Million
Flowspace, the fulfillment technology platform, has notched $31 million in new funding. BuildGroup led the series B investment, with current investors taking part in the funding as well. The company has now raised a total $46 million that encompasses investment from a number of firms. Flowspace helps firms manage warehousing and fulfillment via a special technology platform that presently runs in “hundreds” of partnering fulfillment centers.
February Retail Sales Drop 3 Pct After January’s Stimulus Spending Dried Up
Retail sales, the country’s widest reading of consumer activity, dropped 3 percent in February, contracting more than analysts were anticipating while reflecting a stark slowdown from a jump in January that was powered by $600 stimulus checks. The drop in last month’s sales followed an upwardly revised 7.6 percent increase in January.
Walmart Looks To Spruce Up Clothing Sales; Hires Designer Brandon Maxwell
Walmart made a significant move in bolstering its hand in the clothing business in saying it had hired renowned designer Brandon Maxwell as the creative director for two of its in-house private-label brands. The Texan, who is in his mid-30s, is best known for outfitting the likes of Oprah Winfrey, Michelle Obama and Lady Gaga, supervising four seasonal collections yearly for the Scoop and Free Assembly labels.
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