September 07, 2017
The current malaise in the athletic apparel business is unlikely to change in the second half and there no clear light at the end of the tunnel right now, Dick’s told the Goldman Sachs investor conference, but the retailer remains in a very strong position relative to its competitors both financially and in market position and it sees a number of trends developing that will enable it to expand market share and eventually see a margin recovery.
The net loss was $608,000 for the 13 weeks ended Jul. 29 compared to a loss of $838,000 on an 8% sales increase to $192,245,000 compared to $178,272,000 that was driven by a 4.7% comp gain compared to a 4.9% comp decline last year as well as the opening of 19 additional stores.
Net loss was $2,165,000 against a profit of $35,222,000 in the fiscal first quarter ended Jul. 31 as revenues plunged 38% to $129,021,000 from $206,951,000 and gross margin tumbled 1080 basis points to 31.5% on heavy promotional costs and manufacturing deleverage.
Already enjoying some of the highest margins in outerwear and producing all its products in Canada, GOOS said those margins will continue to expand as it increase the proportion of its sales in DTC, but is also told investors at the Goldman Sachs Conference that it still has pricing power that it can grow.
The 130-door women’s athletic retailer will get increased focus from parent Gap along with Old Navy, as it plans to open 270 stores in the two banners over the next three years while closing about 200 less-profitable Gap and Banana Republic stores.
FBI background checks as adjusted by the NSSF declined 11.3% to 1,021,227 in Aug. from 1,151,679 last year, but were up sequentially from 907,348 in July.
CROX claims that Dawgs’ July lawsuit was filed in bad faith and contains assertions that Dawgs and its lawyers knew to be false, and is seeking court sanctions including dismissal of the bad-faith action, legal fees and a public apology.
Net loss was $4,625,000 in the second quarter ended Jul. 29 compared to income of $1,518,000 last year as sales increased 65% to $13,956,000 from $8,473,000, including $5,945,000 of indirect Hi-Tec product sales.
The camera maker said that third quarter revenues will come in at the high end of its $290 to $310 million guidance and that it will be profitable, but only on a non-GAAP basis, against earlier guidance for a $0.01 to $0.11 loss.
The Eastern Outdoor Reps Association and New England Sports Reps have combined the two organizations, which together include 660 reps as members, into a new entity called Eastern Active Sports Reps.
Deckers Outdoor says that Nova has copied its Bailey Button boot and outsole designs, and also used a replica of its trademarked Sun Mark, in a suit filed in West TX District Court.