April 20, 2017
Led by a double-digit increase in its international business, SKX sales hit ten digits for the first time, up 10% to $1,072,808,000 from $978,794,000, but net income slipped 4% to $93,995,000 from $97,612,000 as SG&A bulged to support the growth overseas.
It took the federal government to slow down Big Foot’s sneaker selling machine. Foot Locker lowered guidance for the first quarter to $1.36-1.39 ($180.4 mm), at or slightly below last year’s earnings, for the quarter ending Apr. 29 as the late delivery of tax refund checks arrived after the NBA All-Star weekend that introduces many key new releases.
Following a week of back room negotiations, Eastern Outfitters received the bankruptcy court’s approval after an Apr. 19 sale hearing to sell its remaining business to Sports Direct.
Sneaker sales were $1.85 billion against $1.80 billion last year, according to NPD data, with unit sales up 1% and ASPs growing 2%.
Net income was $1,495,941 against a loss of $191,450 in the first quarter, on 10% higher sales at $63,072,954 vs. $57,529,945 driven by a doubling of military segment sales to $12.0 million.
Noting the impact of retail bankruptcies on its Q1 results, Escalade net income declined 18% to $1,388,000 from $1,697,000 for the quarter ended Mar. 25 as sales were 11% lower at $30,812,000 compared to $34,568,000.
The developer of an in-store system for scanning footwear received the finding from VC Our Crowd in Jerusalem, Permoda and others.
Just when you thought you wouldn’t hear any more bad news about Under Armour for a while, Dick’s launches Second Skin compression products for men and women.
Razor is recalling about 158,000 Razor RipStik electric motorized caster boards because the rear wheel can stop rotating and lock up while in use.