Over at our sister blog Southern/alpha, Ayumi Fukuda Bennett has the story on the promising start of Sydney Elizabeth, a women's golf apparel company launched last year by Belmont then-student Sydney Hudson. Since launching formally online, the business has run through its inventory twice and Hudson now is working on custom gear for eight high school and college teams.
Though the business is still very young, Hudson’s next big goal is to be a vendor at the PGA Merchandise Show within the next year. And as she continues to grow her online traffic and physical presence in more stores, her golf apparel has extended to all customers who seek trendy, functional attire.
“A lot of girls buy them to wear with a t-shirt and sandals to go shopping or lunch with their friends!” said Hudson. “It has taken off faster than I ever imagined and I feel so blessed to get to wake up every morning and do what I love. I have God, my family, and friends to thank for that.”
Comfort shoe maker Mephisto has hired a familiar face to be the next leader for its U.S. operations, which are headquartered in Cool Springs. Effective Saturday, Michael Crosno is back in the job he also held until 2010. He replaces Rusty Hall, who recently moved to rival Abeo Footwear to be president of its wholesale division. For the past five years, Crosno had been with Munro & Co.
Footwear News has more info here.
Analysts at Zacks Investment Research have hiked their rating on shares of Pinnacle Financial Partners. They now rate the Nashville-based bank holding company a 'buy' instead of a 'hold' and see the shares climbing to $59 in the coming quarters. Pinnacle (Ticker: PNFP) ended last week at $53.10.
At Macquarie, Laurent Vasilescu and Stephanie Wakeham have begun covering shares of apparel retailer Genesco with a 'neutral' rating that balances the strong performance at the company's Journeys brand with the struggles of its Lids concept. Their target for Genesco (Ticker: GCO) is $69, about 10 percent higher than where the stock finished Friday's session.
Piper Jaffray analyst Erinn Murphy weighed in this week with some thoughts on Genesco's recent disappointing earnings report and the outlook for the retailer's shares. She says investors will need to be patient for a while and that this year's holiday shopping season will provide an important read on how Genesco CEO Bob Dennis and his team have done cleaning up the inventory at their Lids division. Without a near-term catalyst, Murphy has trimmed his EPS forecast and lowered her price target for Genesco to $67 from $69. The stock (Ticker: GCO) is changing hands this morning at $67.16.
A Charleston-based upscale women's apparel and footwear boutique plans to soon open its first store in Tennessee in the CityPark development on Franklin Road in Brentwood. Copper Penny will take up space in Building E of CityPark's 40,000-square-foot retail section, sitting close to the Hilton Garden Inn being built adjacent to the Mooreland historic home. The CityPark site will be the ninth location for Copper Penny, which first opened its doors about 25 years ago.
Nashville-based social enterprise fashion company Nisolo has acquired has Red Earth, a fellow local entity, for an undisclosed sum, Nashville Business Journal reports.
Nisolo is recognized for its handmade leather shoes, chukka boots, belts and bags, while Red Earth partners with Kenyan jewelry artisans. With the deal’s structuring, Red Earth’s e-commerce site will remain operational through year’s end, according to NBJ.
Read more here.
Analyst Taposh Bari at Goldman Sachs has cut his rating on shares of Nashville-based Genesco to 'sell from 'neutral' after the company reported its first-quarter numbers. He sees the stock (Ticker: GCO), which was up about 1 percent to $67.33 Thursday afternoon, falling to $57 in the coming year.
Over at UBS, Michael Lasser says things are setting up for Dollar General to have a really good run in the coming quarters as its investments in labor and back-end operations begin to pay off. He has ticked his target for Dollar General (Ticker: DG) to $85 from $84. The stock is changing hands this afternoon at about $75.60.
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