January 08, 2018
The lulunatics now expect Q4 sales to range from $905 to $915 million, up from a prior estimate of $870 to $885 million, which will push up the EPS forecast from a prior range of $1.18 to $1.21 per share to a new range of $1.24 to $1.26 ($169.5 mm).
Strong Holiday sales pushed revenues up to $195 to $198 million in the seasonally small fourth quarter, up from previous guidance of $180 to $190 million, and gross margin is now expected to be around 45% instead of 43%.
The company has hired J.P. Morgan to explore a sale, according to multiple sources, as GPRO confirmed last Friday’s rumors that it is laying off over 20% of its staff and said it will exit the drone segment entirely, while also pre-announcing a dismal Holiday quarter.
With total comp sales up 1% on a 2% decline in brick-and-mortar sales offset by a 17% increase in digital sales, Genesco said comp sales for the quarter to date ended Jan. 4 were up 10% at Journeys, 1% at Schuh and 5% at Johnston & Murphy; however, Lids was down 14%.
Fiscal Q1 sales are forecast at $88 to $90 million in its seasonally slowest quarter, up 16-18% from last year excluding the discontinued Junkfood Clothing business, and DLA expects to turn a profit in the quarter ended Dec. 30 rather than the usual loss.
The Washington Wizard guard, who originally signed with Reebok in 2010 and then switched to Adidas, saw his original $66 million deal with the company expire in 2015 and he has worn Nike, Adidas and Jordan in the interim without a shoe deal.
Rocky Brands spent 2017 restructuring and refocusing the company under new CEO Jason Brooks and CFO Thomas Robertson, divesting the non-core Creative Recreation brand and expanding its military and made in the USA business.
Sales at HELE’s housewares segment, which includes Hydro Flask, increased 3% to $128,017,000 from $124,723,000 in the fiscal third quarter ended Nov. 30 and operating income was also up 3% to $29,982,000 from $29,223,000.