May 24, 2017 Shoe Carnival Results Down in Q1
As expected, SCVL reported a 10% decline in net income to $16,818,000 against $18,780,000 for the 13 weeks ended Apr. 29 on a 3% dip in sales to $253,389,000 compared to $260,470,000 as the delayed tax refunds in Feb. crippled the quarter despite comp store increases in the mid-single digit range in Mar. and Apr.
Riding the shift of Easter into the month, sneaker sales rose 7% overall to $1,277.8 million from $1,191.1 million on a 7% increase in units and a flat ASP, according to NPD Group. Nike Extends Odell Beckham in Record Deal
With Adidas also in the bidding for the N.Y. Giants star receiver, Nike will reportedly pay more than $29 million over five years, the most ever for an NFL player’s shoe deal. 361 Degrees’ Comps Jump 7% in Q1
Same store sales at the Chinese footwear and apparel brand gained 7.0% while its 361° Kids segment gained 7.4%. Turns in both channels are running at 4.2 times. Etcetera: Under Armour, DSW, Nike, Nemo Equipment
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