Vuori Reaches 100 Owned Retail Locations

For the Three Months Ended October 2, 2021 -Net sales increased 23% to $362.6 million, compared to $294.6 million during the same period last year. -Gross profit increased 19% to $207.0 million, or 57.1% of net sales, compared to $174.0 million, or 59.1% of net sales, in the third quarter of 2020. The 200 basis point decrease in gross margin was primarily driven by higher inbound freight rates and the unfavorable impact of the non-renewal of the Global System of Preferences (“GSP”) program on import duties, partially offset by product cost improvements and all other impacts. -Operating income decreased 2% to $68.7 million, or 19.0% of net sales, compared to $70.1 million, or 23.8% of net sales, during the prior year quarter due to the aforementioned lower spending levels in 2020.

The U.S Postal Service (USPS) and U.S. Postal Inspection Service (Inspection Service) provided an update on their Project Safe Delivery campaign to crack down on postal crimes, including attacks against postal employees. Announced in May 2023, Project Safe Delivery is a USPS initiative to combat the recent rise in threats and attacks on letter carriers and mail theft incidents by protecting Postal employees and the security of the nation’s mail and packages. Multiple departments within USPS, including the Inspection Service, the Office of the Chief Information Officer, and the Office of the Chief Retail and Delivery Officer are working together to support the ongoing campaign. To help strengthen this effort, the Inspection Service has also significantly increased monetary rewards for information leading to the arrest or conviction of a perpetrator of postal crimes. “As our nation continues to address a sustained crime wave, our targeted focus to crack down on postal crime is progressing,” said Postmaster General and Chief Executive Officer Louis DeJoy. “The safety of our letter carriers — and all postal employees — is our top priority. We will continue to work steadfastly with our law enforcement partners to increase the safety of our employees and protect the sanctity of the nation’s mail.”

Adobe announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. In August 2024, online prices fell 4.4%year-over-year (YoY) and 0.3% month-over-month (MoM). This marks 24 consecutive months where online prices have decreased on an annual basis, and the fifth consecutive month where prices have fallen on a monthly basis. August’s YoY price decline was driven by notable drops in major discretionary categories such as electronics, toys and apparel. Grocery prices rose in August YoY, but the price increase has slowed; The category also fell significantly MoM. In electronics, prices were down 5.3% YoY in August (down 0.3% MoM), after falling 5.9% YoY in the month prior (July 2024). Prices for apparel fell 9.0% YoY (up 0.8% MoM), marking 12 consecutive months where prices have fallen on an annual basis. In toys, prices fell 5.6% YoY (down 1.2% MoM), marking forty-one consecutive months where prices have fallen on an annual basis. And in furniture and bedding, a steadily growing e-commerce category, prices fell 5.0% YoY in August (flat MoM); This category has now seen prices fall YoY for 19 consecutive months.